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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The latest jobs data is in for the United States, and the good news is helping the dollar index. However, even though the greenback is finding a little bit of support, it is still rangebound in trading.
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.
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.
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.
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.
Earlier, sterling fell against the greenback after the release of the latest PMI data. Now, though, the UK pound is gaining against its low beta counterparts as risk appetite soars.
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.