There have been some notable movements in the currency markets this Tuesday, so let’s take a closer look.
Euro/Pound is the mover of the day, having lost point 95%. The pair started moving lower after half past 4 in the morning.
Pound has rebounded from its yesterday’s losses, aided by a stronger-than-expected inflation report, and it’s the most bullish of the eight majors.
Commodity currencies are also up against most rivals, with Kiwi being the most bullish of them. It received a boost from New Zealand CPI data.
The fellow Antipode Aussie is just a fraction lower as the Reserve Bank of Australia anticipates a reasonable growth in the Australian economy.
US monthly inflation has reached a five-month high, and Greenback is a fraction North from the neighbouring Loonie, which, in turn, has benefited from higher oil prices.
The increased risk appetite has resulted in less demand for safe havens, and two of them are trading near the bottom of the table, with Yen point 15% up from the Swissie.
There has been little news from the Euro Zone today, and the Common Currency is the most bearish major.
Moving on to the weekly chart, Australia/Swiss Franc is the top performer with a gain of 2.36%, whereas Euro/Australia has lost 2.97% over the same period, making it the most bearish pair.
Now, Euro/Yen may be today’s most bearish pair, but it does remain the most bullish instrument in monthly terms with a gain of 4.66%. Pound/Australia posts the biggest decline, namely, 9.24%.
I’m Jessica Walker and you’ve been watching the Movers and Shakers for Tuesday. Check back in tomorrow for the next overview. Goodbye.
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