Post Tagged with: "EUR/JPY"
FOMC Statement Strengthens Dollar – Hurts Yen Crosses
The FOMC Statement talked about a small recovery in the American economy. While the interest rate rate stayed unchanged, the Federal Reserve’s words about slowing the pace of buying treasuries sent the dollar shooting upwards. Note the tumbling Yen crosses that were highlighted here in Forex Crunch. As expected, the Federal Open Markets Committee concluded
AUD/USD Should Become A Major Pair
The current global crisis has shown us that the dollar is the safe haven currency. The Swiss Franc lost its status. On the other hand, Australia’s economy hasn’t been badly affected by this crisis. The Aussie should replace the Swissy in the big league of majors. Traditionally, there are four major pairs: EUR/USD, USD/JPY, GBP/USD
Yen Dollar Correlation – Upside Story
The US dollar and the Yen continue to work in correlation, and today, the dollar made gains – the Yen extended them. I’ve written in the past about the Dollar Yen Correlation. In previous events, such as the FOMC Trillion dollar printing statement, the dollar weakened, and then the Yen weakened even more. Today, it
NFP Effect Roundup
Non Farm Payrolls were in line with the official expectations – a fall of 651K jobs, but the affects on the forex market were fascinating, and can teach us some things for the next release. Let’s walk through the market alleys and find some precious currency correlations: Official expectations were a drop of 647,000 jobs
USD/JPY on the March
The Japanese Yen began retreating today, with the USD/JPY above 99. It comes ahead of the ADP Non-Farm Employment Change and of the ISM Non-Manufacturing PMI – two major US figures that will shake the markets. USD/JPY crossed the 99 mark, and is now trading at 99.33. The break of 98.70 resistance line came in the late
Dollar Yen Currency Correlation
In the fast few weeks, the forex market has seen a correlation between the US dollar and the Japanese Yen. Whenever the dollar becomes stronger, the Yen beats everybody else, including the dollar. And vice versa. Whenever the dollar weakens, like today, the Yen weakens even more. Today, despite good data from the US, the
ECB Cuts Rates As Expected – Euro Stable
The ECB the Minimum Bid Rate to 2% – exactly as expected. This is a 0.5% decrease from 2.5%. This change didn’t surprise anyone. ECB Rate Decision was truly a non-event. The Euro remains stable, with EUR/USD currently at 1.3133. EUR/JPY at 117.00. A bigger prospect about the future of interest rates in Europe, the
ECB Rate Decision – A non event
Today, the European Central Bank will make a decision about the interest rate in the Eurozone. This is supposedly the biggest event this week, after last week’s Non Farm Payrolls in the US. Most economists and analysts are expecting a half a percent cut, from 2.5% to to 2%. But Jean Claude Trichet and his friends