Summary:
- Since the market opened this morning, we have seen the price of the NZD/JPY currency pair fall.
- The EUR/GBP price seems to be on the rise despite the slight increase in price
- EUR To USD - There is opportunity for the market to change consistently over the next 2 days especially because of the inflation pressures, interest rate forecasts, growth downgrades and earnings
The increasing of the EUR/USD currency pair price
Since the market opened this morning, the price of the EUR/USD has increased, in addition investors' market sentiment on the EUR/USD currency pair has changed from yesterday's bearish to mixed as of this morning. There is opportunity for the market to change consistently over the next 2 days especially because of the inflation pressures, interest rate forecasts, growth downgrades and earnings, because of factors such as these, the market is volatile at the moment.
EUR/USD Price Chart
Related article: ECB Interest Rate Decision Is Coming! European Indices (DAX, CAC40) To Plunge Or Rise? What About Forex Pairs?
EUR/GBP
The EUR/GBP price seems to be on the rise despite the slight increase in price, the market sentiment for this currency pair is bearish meaning investors do not expect this up trend to continue in the future.
EUR/GBP Price Chart
NZD/JPY Showing its Susceptibility to Market Conditions
Since the market opened this morning, we have seen the price of the NZD/JPY currency pair fall. The relationship between these 2 currencies is known to be volatile because of the carry trade that occurs between them, investors favor these carry trades in times of market stability but shun them in times of market stress. Both of these currencies are also susceptible to economic news. Inlight of this information and the current market economy it is not a surprise that this currency pair is declining in value during this time of market stress.
NZD/JPY Price Chart
Analysis: Wheat Futures Prices Influenced, By Weather, Naturally!
EUR/CHF
The EUR/CHF price is currently pushing above 1.018 since the market opened this morning. The ECB’s determination to keep inflation and interest rates low could be a potential reason for the strengthening of the EUR with the ECBs announcement today.
EUR/CHF Price Chart
Sources: finance.yahoo.com, dailyfx.com, tradingeconomics.com
