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Dollar holds gains vs. rivals in quiet trade

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Friday, 19 December 2014 21:12

The dollar remained near five-year highs against the other major currencies on Friday, as Thursday's U.S. jobless claims data and the Federal Reserve's most recent policy statement continued to support.

The dollar remained supported after the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending December 12 fell by 6,000 to 289,000 from the previous week’s revised total of 295,000. Economist had forecast an increase of 1,000.

 
 

Euro falls to more than 2-year lows vs. stronger dollar

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Friday, 19 December 2014 20:43

The euro fell to more than two-year lows against the U.S. dollar on Friday, despite the release of upbeat German consumer climate data as demand for the greenback remained broadly supported by expectations for a U.S. rate hike next year.

EUR/USD hit 1.2253 during European early afternoon trade, the pair's lowest since December 8; the pair subsequently consolidated at 1.2272, slipping 0.11%.

The pair was likely to find support at 1.2245, the low of December 8 and resistance at 1.2353, Thursday's high.

 
 

USD/JPY approaches one-week high

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Friday, 19 December 2014 16:03

yenmelemahThe USD/JPY pair is extending gains during the European session after the Bank of Japan governor Kuroda expressed readiness to change the policy stance if required during his press conference speech.

The pair now trades 0.48% higher at 119.41, after having bounced-off from the 10-DMA located at 118.72 during the Asian session. The BOJ held its annual monetary base expansion target at JPY 80 trillion, while stating it stands ready to alter the current stance if required in future. Meanwhile, the return of “risk-on” trading in the global financial markets is also aiding the USD/JPY pair. The major European indices are up more than 0.5% tracking gains in the Asian and the US equity markets.

 
   

EUR/USD steadies after German Gfk data

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Friday, 19 December 2014 14:26

euroweakerThe Euro crawled higher against the US dollar during the European morning, recovering from two consecutive days of sharp declines.

The EUR/USD pair traded at 1.2295 levels, marginally higher by 0.07% on the day, after falling to more-than one week low levels yesterday. The Euro stays supported post the release of higher than forecasts Gfk German Consumer climate numbers, indicating improved business conditions in Germany.

The Euro continued to slide in the previous session even as improved business conditions in Germany failed to buoy the single currency. The Euro also extended losses after the greenback appreciated against major currencies, reaching close to 5 year high levels.

 
 

USD/CHF steadies around 0.98

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Friday, 19 December 2014 14:16

chf.2The Swiss franc steadied during the Asian session today against the US dollar after falling sharply on Thursday on Swiss National Bank’s (SNB) negative interest rate surprise.

The USD/CHF pair currently trades largely unchanged at 0.9802 levels, compared to the previous session’s close of 0.98 levels. The franc weakened after SNB said Thursday it will begin charging banks 0.25% to leave their funds with it overnight beginning on Jan. 22. Meanwhile, the US dollar continues to remain strong after the Federal Reserve (Fed) chair. Yellen indicated possibility of a sooner-than-expected policy normalization if the economy continues to recover rapidly in 2015.

 
   

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