The Current State of Fx Pairs

"The Current State of Fx Pairs"

The Euro against the greenback holds well despite that on ECB meeting this Thursday investors are expecting a rate cut, advancing from 1.3034 to upside hurdle at 1.3120.

The common currency strength could be explained by successfully ending the 2-month political deadlock in Italy and forming a new government, led by Enrico Letta.

Elsewhere, FX pairs were mainly steady trading. The USDJPY recovered from support at 97.35 to 98.20. Japan earlier today reported lower than expected unemployment rate at 4.1% in March from 4.3% in February.

US Indices yesterday closed higher, making a new record high for S&P 500 by gaining 0.72% to end at 1,593.61. The latter underpinned Asian shares as S&P/ASX 200 closed also higher by 1.28%, Hang Seng advanced by 0.68% but NIKKEI 225 slightly dropped by 0.17%.

Daniel Moore

Daniel is the one responsible for most of the business related articles. He is a serious person very keen on gathering information and being the first to know about all the latest news there are in business world. He is friendly and open person happy to help in case of difficulties.

Leave a Reply

Your email address will not be published. Required fields are marked *


*