Trading & Financial News
No Result
View All Result
Saturday, April 19, 2025
  • Login
  • Economy
  • Markets
  • Forex News
  • Investing
  • Stock Trading
  • Crypto
Subscribe
Trading & Financial News
  • Economy
  • Markets
  • Forex News
  • Investing
  • Stock Trading
  • Crypto
No Result
View All Result
Trading & Financial News
No Result
View All Result
Home Forex News

Asia FX muted as dollar weakens; euro steady as leftists lead French elections By Investing.com

by Tradinghow
July 9, 2024
in Forex News
A A
0
Asia FX muted as dollar weakens; euro steady as leftists lead French elections By Investing.com
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter
https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB

Investing.com– Most Asian currencies moved little on Monday, while the dollar nursed steep losses amid growing expectations of interest rate cuts, while the Japanese yen firmed on data showing a pick-up in average wages.

Elsewhere, the was steady after the results of the French election showed a leftist coalition won the most number of parliamentary seats in a snap election, while President Emmanuel Macron’s party came second and Marine Le Pen’s far right party came third.

Sentiment towards Asian currencies remained strained amid concerns over a potential trade war between China and the European Union. But most regional currencies were sitting on some gains after the dollar fell sharply through the past week, amid growing optimism over U.S. interest rate cuts.

The and futures steadied near a one-month low on Monday. Focus this week is on a two-day testimony by , as well as key inflation data. 

Japanese yen firms on strong wage data, USDJPY falls

The Japanese yen was among the biggest beneficiaries of this dollar weakness, pulling away further from its weakest levels in 38 years after data pointed to some strengthening in the economy.

The yen’s pair fell 0.2% and was well below the 162 level it had nearly reached last week. Data showed Japanese grew at their fastest pace in over 30 years in May, as the bumper wage hikes won by labor unions earlier this year began to take effect.

Increased wages present a brighter outlook for consumption and inflation, and could eventually give the Bank of Japan more headroom to raise interest rates. The BOJ had forecast higher inflation in the coming years on the back of stronger wages. 

Still, focus remained on any potential government intervention, as USDJPY remained above 160.

Chinese yuan fragile, trade tensions persist 

The Chinese yuan’s pair moved little on Monday, hovering just below a seven-month high as sentiment towards China remained weak.

The EU had on Friday proceeded with imposing strict import duties on Chinese electric vehicles, despite objections from Beijing. Chinese officials had also raised the possibility of a trade war.

Such a move bodes poorly for China, especially as the country grapples with shoring up a sluggish economic rebound. The yuan was also battered by increasing doubts over China’s economy, following a slew of mixed data prints.

Focus this week is on Chinese and for more cues on the economy. 

Broader Asian currencies kept to a tight range. The Australian dollar’s pair rose 0.1% as data showed activity in the country unexpectedly slowed in May.

The Singapore dollar’s pair and the South Korean won’s pair moved little.

The Indian rupee’s pair fell slightly, but remained around the mid-83 level.





Source link

  • Trending
  • Comments
  • Latest
The Evolving International Cannabis Landscape

The Evolving International Cannabis Landscape

March 20, 2024
UK Faces Two Decades of No Earnings Growth and More Austerity

UK Faces Two Decades of No Earnings Growth and More Austerity

July 29, 2023
Emirates Steel drops interest in Thyssenkrupp steel unit

Emirates Steel drops interest in Thyssenkrupp steel unit

July 27, 2023
Uniswap Launches Permissionless Bridging Across 9 Networks

Uniswap Launches Permissionless Bridging Across 9 Networks

October 24, 2024
High Street Retailers Pin Hopes On Discount Splurge In Black Friday Fever

High Street Retailers Pin Hopes On Discount Splurge In Black Friday Fever

0
UK Faces Two Decades of No Earnings Growth and More Austerity

UK Faces Two Decades of No Earnings Growth and More Austerity

0
Learn how to trade. For beginners

Learn how to trade. For beginners

0
Trading for beginners

Trading for beginners

0
Startup funding concerns balanced by AI optimism at GITEX Africa

Startup funding concerns balanced by AI optimism at GITEX Africa

April 19, 2025
Social Norms Shape Investment Behavior. What Can Advisors Do About It?

Social Norms Shape Investment Behavior. What Can Advisors Do About It?

April 19, 2025
After Wipro, Infosys gets target price cuts post weak Q4 earnings

After Wipro, Infosys gets target price cuts post weak Q4 earnings

April 19, 2025
Nigerian oil finds new buyer as Turkey’s largest refinery places fresh order

Nigerian oil finds new buyer as Turkey’s largest refinery places fresh order

April 18, 2025

Recent News

Startup funding concerns balanced by AI optimism at GITEX Africa

Startup funding concerns balanced by AI optimism at GITEX Africa

April 19, 2025
Social Norms Shape Investment Behavior. What Can Advisors Do About It?

Social Norms Shape Investment Behavior. What Can Advisors Do About It?

April 19, 2025

Categories

  • Business
  • Crypto
  • Economy
  • Forex News
  • Investing
  • Markets
  • More
  • Stock Trading
  • Trading for beginners

Site Navigation

  • Home
  • Contact Us
  • Stock Trading
  • Markets
  • Investing
  • Other Links
  • Privacy & Policy
Trading & Financial News

We bring you the fastest breaking news on Trading, forex, and finance submitted from credible and reliable news sources around the world.

© 2023 Tradinghow Useful forex analysis and financial news, submitted by credible news sources around the world.tradinghow.

No Result
View All Result
  • Contact Us
  • Home
  • Economy
  • Crypto
  • Investing
  • Markets
  • Forex News
  • Stock Trading

© 2023 Tradinghow Useful forex analysis and financial news, submitted by credible news sources around the world.tradinghow.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In