The first trading day of the month is coming to an end, so let’s see what has been moving and shaking in the currency markets.
Australia/Swiss Franc started moving lower after 6 o’clock in the morning, and it is the mover of the day with a loss of point 68%.
Monday is the Swiss Independence Day, but Swissie has not taken a day off and, in fact, it is the most bullish of the 8 majors.
US Manufacturing PMI eased in July, but the Buck is trading level with the Common Currency.
The British counterpart of this index has dropped to a 3-year low. Still, the result was not unexpected, and Sterling is a fraction up from the Yen.
The three commodity currencies find themselves at the bottom of the table as the latest Chinese manufacturing data showed mixed results. Kiwi is the most bullish of them, point 17% up from the Loonie.
And traders are anticipating a rate cut for the Aussie, which is the most bearish major.
Here’s how things look in the long-term charts. New Zealand/Dollar has gained most over a week, and it’s up by 2.94%, whereas Dollar/Yen posts the biggest decline, having lost 3.79%.
Euro/Pound is the most bullish pair on the monthly chart, standing more than 3% in the green, whereas Pound/Australia has lost 4.13% over the same period, which makes it the most bearish instrument.
I’m Sam Meredith with the Movers and Shakers for Monday. Check back in tomorrow for the next overview. Goodbye.
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