JPY and EUR drive markets sentiment
Market sentiment continued to be driven today by the state of affairs in the Old Continent and in the Far East, as pledges by both the Bank of Japan and the Prime Minister of Spain have given indications of upcoming economic measures in response to current critical situations in their respective countries. The former has announced a new batch of monetary easing measures aimed at boosting the internal economy of the Rising Sun, both in terms of exports through a weaker Yen and through deflation; the latter has promised to counter the latest data released about the Spanish economy by rolling out in the very short term new austerity measures aimed at reducing debt.
This has led to some movements in the Forex markets as the USD has been trading higher than the JPY and the EUR - the first out of belief in the BoJ plan, the second out of suspicions about the EuroZone's future - while all eyes remain pointed to the new set of economic data to be released today about the U.S. economy.
Gold, in the meantime, traded higher on the asian markets due to China's acquisition of large quantities of it and the "Safe Haven" effect of the current market sentiment.
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