Safe haven currency pairs USD/JPY advanced 0.35% to 114.43, the highest level since February 17. Forex traders and bonds traders uprising the warning sign, Risk appetite was boosted after data overnight showing that Australia's economy grew at the fastest pace in almost two years last quarter, with gross domestic product expanding 0.6%. That propelled overall growth for 2015 to 3.0%, well above the 2.5% expected by economists and the country's central bank.
The report came a day after data showing that Canada's economy grew by a far larger than forecast 0.8% in the three months to December. Meanwhile In the U.S., data on Tuesday showed that the Institute for Supply Management's manufacturing index rose more than expected last month. Good sign for better economic growth
U.S construction spending rose to the highest level since October 2007, in January, indicating that the economy is regaining momentum after slowing in the fourth quarter. Regaining is better than latest decades
The latest economic reports underlined expectations that the Federal Reserve will hike interest rates again this year. Maybe on 3rd quarter this year
The safe haven Japanese yen was also weaker against the euro, with EUR/JPY rising 0.27% to 124.24, off the almost three-year lows of 122.05 struck on Tuesday.
From Berlin we reported, The single currency was struggling near one-month lows against the dollar, with EUR/USD at 1.0861.
The safe haven currency in European, EUR remained under pressure after weak euro zone inflation and factory data earlier in the week cemented expectations for more easing by the European Central Bank at its upcoming meeting on March 10
Source : investing, Brussels, Tokyo Forex, Institute of supply management manufacturing index
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