After a bit of choppiness earlier, in which the euro slipped a bit, the 18-nation currency is now gathering itself and heading higher.
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One of the more interesting bits of information that has come in my way recently is a report from UBS about investors and generations. According to this report, Millennials might be too conservative with their money.
Greenback is mixed today, looking for direction as signals indicate that dollar strength could be a fixture in coming months even while the dollar index dips due to the euro’s huge surge today.
Contrary to some bets that the ECB would need to cut interest rates to help stimulate the eurozone economy, the central bank is holding steady. As a result, the euro is receiving a small boost in the markets, heading a little bit higher.
Euro’s latest economic data was better than expected, but that doesn’t seem to be solving the 18-nation currency’s problems right now. Euro is still struggling in Forex trading, with many thinking that issues in Ukraine represent a risk to the eurozone economy.
Risk aversion is running high right now, thanks in large part to concerns about what’s happening in Ukraine. US dollar is gaining against its high beta counterparts right now, thanks in large part to concerns that the situation in Ukraine could become explosive.
The Chinese yuan is sliding again, continuing the two-week drop against the US dollar. It appears that Chinese officials are intervening, bringing the yuan’s value down after letting gain slowly but steadily against the greenback.
Euro is logging gains today, after yesterday’s disappointing losses. Euro is finding support as ECB president Mario Draghi continues to hold the line on policy, leading many to believe that more easing won’t be coming at the next ECB meeting.