Thursday, October 24, 2013

Safe Haven Currency Japanese Yen Jumps as China Squeezes Liquidity, Aussie Dollar Climbs as CPI Beats Expectations

Hello folks, The latest news out of China, with money market rates on the rise, is prompting gains for the greenback today. Indeed, there is enough concern about liquidity that many Forex traders are looking for safe haven, and buying the dollar for the stability

Eurozone consumer confidence came in below expectations for October, but it is still at its best since July 2011. Risk appetite is a little shaky today, and there are still questions about the sustainability of the eurozone's economic recovery.

Eurozone currencies, Euro Looks for Direction After Consumer Confidence Report, The Bank of England released the minutes of this month's policy meeting, showing that policy makers voted unanimously for keeping policy the same. The Great Britain pound fell nevertheless as traders were concerned by news from China.

From Tokyo daily forex news, Japanese Yen Jumps as China Squeezes Liquidity, The Japanese yen jumped today on speculations that Chinese policy makers are going to perform monetary tightening. Such talks made traders nervous and drove them to seek safety.

From Sidney daily forex news, Aussie Climbs as CPI Beats Expectations, The Australian dollar advanced today after data showed that consumer prices were rising last month much faster than was expected. It suggests that the nation's central bank has less incentive to ease its monetary policy further

US Dollar Drops as Non-Farm Payrolls Disappoint, The US dollar dropped sharply against most major currencies today after non-farm payrolls frustrated market participants

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