Market News

The US Dollar was trading near to a 17-month trough versus the Japanese Yen after Shinzo Abe, Japan’s Prime Minister, hinted that the Bank of Japan’s intervention in the Yen’s rise might not be as evident as it appears.

China’s stocks rose for a fifth straight day on Wednesday, led by consumer and energy companies and following a report pointing to increased evidence of a stabilizing economy.

The Japanese Yen earlier hit a 17-month peak versus the US Dollar after yet another decline in oil prices sent FX traders rushing into the proverbial arms of safe-haven assets.

Watergate was a major political scandal that occurred in the United States in the 1970s but it pales in the face of the latest global financial outrage.

Despite an upbeat labor report last Friday, the US Dollar continues to be under some heavy pressure as market expectations of a rate hike in this calendar year wane.

The Federal Reserve may have left interest rates steady last week, but the central banks of several Asian countries are due to make key policy decisions during the coming week.

Last week’s speech by Janet Yellen determined the course of the major price movements within the Forex market, which in the end were against the U.S. Dollar. This week has a fuller schedule of releases, so we can expect a more volatile week.

The Non-Farm Payroll numbers reported on Friday showed a growth of 215,000 workers over the last month following a gain of 245,000 in February.

Non-farm payroll numbers are due out today and they should meet Fed expectations.

The US Dollar’s slide has finally subsided after hitting a 7-week trough versus the common currency Euro.

Despite gains throughout the month, gold slid Wednesday, wiping out this month’s gains as hints of a stronger U.S. labor market and a rally in equities curbed demand for safe haven assets.

The US Dollar was the trading day’s biggest loser in the wake of a surprisingly dovish Fed chairman. Expectations of a 2016 rate hike have been devastated and the US Dollar Index lost more than 1%.

Asian markets advanced on Wednesday, following gains in U.S. equities overnight after Federal Reserve chair Janet Yellen told markets that the Fed would move ‘cautiously’ in a scheduled speech to the Economic Club of New York on Tuesday.

The outlook for another interest rate hike remained unclear following the speech by Federal Reserve Chairwoman Janet Yellen to the Economic Club in New York Tuesday, her first press conference after the Fed held rates steady two weeks ago.

Even as the Dollar is finding some support from the Federal Reserve, the Japanese Yen has been underperforming on speculation of yet another move from the Japanese government.