forex
The USD/JPY exchange rate has soared in the past six consecutive days and is slowly nearing its all-time high as the Japanese yen sell-off intensifies. It was trading at 158 on Friday and was nearing its all-time high of 160.2. It has soared by more than 13% from its lowest point in January. Japanese yen is plungingThe Japanese yen has become the worst-performing major currency this year as concerns about the Bank of Japan policy continues. In a statement last week, the bank announced that it would scale back its bond purchases significantly as it seeks to exit its ultra-loose monetary policie...
Invezz
The USD/CHF exchange rate will be in the spotlight on Thursday as the Swiss National Bank (SNB) delivers its interest rate decision. It has crashed by over 4% from its lowest level this month and is now hovering near its lowest level since March. SNB interest rate decisionThe Swiss National Bank will deliver its monetary policy decision as the country’s inflation remains elevated and the economy slows. Recent data showed that the headline Consumer Price Index (CPI) rose to 1.4% YoY in May, higher than March’s 1.0%. While the CPI has remained below the SNB’s target of 2.0% and is lower than in ...
Invezz
The South African rand has staged a strong comeback this week after last week’s coalition deal between ANC and Democratic Alliance. The USD/ZAR exchange rate has plunged to a low of 17.91, its lowest swing since August 2023. It has plunged by more than 7.5% from its highest point this year. SARB rate cuts to be delayedThe biggest catalyst for the USD/ZAR pair was the decision by the ANC and DA party to form a coalition government. Analysts have cheered the fact that the political situation took a less period than expected. The pair also tumbled after the latest South Africa inflation data. Acc...
Invezz
New York (AFP) - Nvidia edged out other tech giants Tuesday to become the world's most valuable publicly traded company, a rise that also helped lift the Nasdaq to a seventh straight record close. Nvidia's feat came on an up day for most global equity markets in spite of lackluster economic data in the United States and Germany and lingering unease about upcoming political elections in France. All three major US stock indices climbed, along with bourses in Paris, Frankfurt, London and Tokyo. Nvidia, which has enjoyed a monumental ascent over the last 18 months amid enthusiasm over generative a...
AFP
El valor del peso mexicano ha fluctuado en los mercados financieros globales, en los últimos días. Después de llegar a su punto más bajo de 18.75 por dólar el 12 de junio. La divisa mexicana ha logrado recuperarse y actualmente se encuentra en alrededor de 18.4 pesos por dólar. El aumento se produce en un contexto en el que la venta masiva después de las elecciones ha comenzado a disminuir, a pesar de las buenas noticias económicas para México. Se han visto indicios de una economía robusta en México durante el primer trimestre de 2024, con una mejora en la demanda agregada y el gasto privado e...
Invezz - ES
En junio, el valor del Real Brasileño ha disminuido significativamente, llegando a su punto más bajo desde enero de 2023. Antes de la decisión del Banco Central prevista para el miércoles, las preocupaciones en los mercados sobre los desequilibrios fiscales en el gobierno brasileño han generado esta situación. Lula y la continuidad de los proyectos públicosA pesar de la tendencia desfavorable, el Real mantuvo su caída después de que el Presidente Lula declaró que el gobierno continuará con la expansión de proyectos públicos y no disminuirá el gasto público. Los pronunciamientos recientes de lo...
Invezz - ES
Today, the U.S. Census Bureau announced the United States’ advance monthly sales figures for May 2024, for retail and food services in the nation. In anticipation of the data, the US dollar has been trading higher against most other currencies today, including the Euro, with the EUR/USD struggling and experiencing pressure near 1.074 mark, Japanese yen, where the USD/JPY moved to above 158.00 earlier. However, the US sales figures rose just 0.1% in May, disappointing the market’s expectations. Furthermore, this came after a 0.2% drop in sales for April 2024. April’s sales had previously been r...
Invezz
The Russian ruble is doing well. The USD/RUB exchange rate plunged to a low of 85.5470, its lowest swing since June 2023. It has plunged by almost 10% from the highest point level this year. BoR and Federal Reserve actionsThe USD/RUB has crashed hard after last week’s Federal Reserve and Bank of Russia’s interest rate decisions. In its decision, the Fed decided to leave interest rates unchanged between 5.25% and 5.50%. It also signaled that it will hold rates higher for longer-than-expected since inflation has remained above the Fed’s target of 2.0%. I believe that the first rate cut will eith...
Invezz
The concept of the US dollar dominance has been in the spotlight in the past few months with experts in both sides sharing their ideas. Some experts believe that the end of the greenback in global trade and as a reserve currency is nearing. Others, on the other hand, opine that the dollar will never be dethroned. The case against the US dollar has grownThe case against the US dollar has grown in the past few years as the government has used it as a weapon. Washington has sanctioned countries like Russia, Iran, Cuba, North Korea, and Venezuela. Most importantly, the recently passed REPO Act all...
Invezz
The new Zimbabwe Gold currency has continued to stabilise against the US dollar and other currencies. According to the central bank, the USD to ZiG exchange rate was trading at 13.50, a few points above its initial price. ZiG has stabilised, helped by the actions by the government to prevent its volatility and its decline. The most important action has been to crackdown on street traders, who were blamed for crashing the other versions of the country’s currency. At the same time, the government has imposed substantial fines for transacting the currency outside of the official exchange rate. It...
Invezz
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