Asian market participants dropped higher yielding currencies and risk-correlated assets to their lowest levels in at least four months as Greek concerns continue to weigh on sentiment. However, after the Aussie and the Euro hit fresh May lows against the US Dollar, their courses quickly reversed ahead today’s key release
The greenback continued to appreciate on Wednesday, with the Dow Jones-FXCM U.S.
As stated in the weekly gold outlook there are many items on today’s agenda: the minutes of April FOMC meeting, U.S housing starts report, ECB President speaks, Euro Area Annual Inflation and BOE Inflation Report .
With the Greek situation starting to unravel quickly, the market has become susceptible to quick moves in reaction to headlines. Shortly after 15:00 one of those moments occurred, with Reuters reporting that the European Central Bank has cut funding to Greek banks; the EURUSD slid back under 1.2700 briefly
As the financial situation in Europe continues to deteriorate, FX traders need to decide what currencies are most at risk an which are safe havens.
A daily overview of technical developments in the regional currencies. Take a look inside for the latest scoop on the Norwegian Krone and Swedish Krona.
The Australian dollar has fallen below parity with the US dollar for the first time five months..
The US dollar is firmer against the other major currencies this morning, and the shekel-dollar rate is slightly up.
PETALING JAYA: The greenback is expected to maintain an upward trend vis-a-vis major currencies on a gradual US economic recovery amid the political uncertainty surrounding the eurozone's sovereign debt crisis.
PETALING JAYA: The greenback is expected to maintain an upward trend vis-a-vis major currencies on a gradual US economic recovery amid the political uncertainty surrounding the eurozone’s sovereign debt crisis.
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