Euro USD Currency Market Report Exchange Released

AlphaBetaStock.com, a daily news website, is releasing a its daily currency market report that shows trends and opportunities in the currency markets.

West Palm Beach, United States - August 24, 2019 /PressCable/ —

AlphaBetaStock.com daily market news report is looking at significant moves in the currency markets. This is cause primary by challenging geo-policital events. Traders should look at support and resitence levels for larger trend movements.

United States of America

USD is strengthening against its main competitors – EUR, JPY, and GBP.

Investors are focused on the Fed Chairman Jerome Powell’s speech at the Jackson Hole Symposium, which is scheduled for 16:00 (GMT+2). The market expects Powell to clarify further actions of the regulator, which so far remain uncertain. At the July meeting, FOMC members decreased the interest rate to 2.25%, and investors hoped that monetary easing would continue but Powell called it corrective and not indicative of a change in course. Most likely, speaking at Jackson Hole, the head of the Fed will be careful and confirm that the regulator will make further decisions based on information coming from the market. A number of FOMC members consider the latest rate cut erroneous. The president of the Federal Reserve Bank of Kansas City, Esther George, said that with a low level of unemployment, rising wages and inflation close to the target level, a rate change was not required.

Eurozone

EUR today is weakening against USD and JPY but moves horizontally against GBP.

Due to a lack of significant economic releases, EUR movement is generally technical in nature. Investors are waiting for Fed Chairman Jerome Powell to speak at the Jackson Hole Symposium and a hint of further action by the US regulator. The market also monitors the development of the political crisis in Italy. After the collapse of the current coalition government and the resignation of Prime Minister Giuseppe Conte, President Sergio Mattarella is actually leading the country and consulting on the creation of a new coalition. It is likely that the new government will form the movement “Five Stars and the Democratic Party of Italy.” In this case, early elections will not be needed, and Euroskeptic Matteo Salvini’s Lega movement will not be in power.

United Kingdom

GBP is weakening against USD and JPY but moves horizontally against EUR.

Due to a lack of significant British economic releases, GBP movement is technical in nature. The results of the visit of British Prime Minister Boris Johnson to Berlin and Paris were ambiguous. On the one hand, EU leaders left London a chance to conclude a deal and cancel the backstop provision. However, to do this, the United Kingdom must provide alternative options for solving the problem of the Irish border, which the British government so far probably lacks. In addition, a trade deal between the United States and the United Kingdom, which the parties intended to conclude after the country’s exit from the EU, was threatened during the week. Senate Congressman Democrat Chuck Schumer promised to oppose any trade deal with Britain if the tough border divides Ireland again.

Japan

JPY is strengthening against EUR and GBP but weakening against USD.

Japanese investors are focusing on July inflation data in Japan. Core CPI expectedly remained at the previous value of 0.6%, while the general consumer price index slowed down its growth from 0.7% to 0.5%. The rising of electricity and gas prices were offset by a fall in prices for petroleum products and gasoline. However, government officials note that consumer prices still have a moderate upward trend. Inflation is still far from the target level, which puts pressure on the Bank of Japan and may cause the introduction of additional incentives for the Japanese economy.

Australia

AUD is weakening against JPY and USD but moves horizontally against EUR and GBP.

AUD is under pressure of the exacerbation of the US-China trade conflict. Today, the PRC authorities said they would introduce new tariffs ranging from 5% to 10% for US goods worth $75 billion. In addition, the export of American cars will be taxed at 25% duty. Tariffs will be introduced in two parts: from September 1 and from December 15.

Oil

Today, oil prices are being corrected downwards.

Quotes are under pressure after reports of a decision by the PRC State Council Commission on Customs Tariffs to impose increased duties on US goods totaling $75 billion, including for cars and parts for them. Such a decision by China indicates an aggravation of the conflict with the United States and an increasing threat to the global demand for energy.

In the evening, the publication of the Baker Hughes report on active oil platforms in the United States of America is expected. The last time their number increased from 764 to 770 units. Continuation of this trend may put pressure on oil quotes.

AlphaBetaStock is news organization which has put together a team of experienced investment professional to find the best market news movers on a daily basis.

Contact Info:
Name: Dave Wiggins
Email: Send Email
Organization: AlphaBetaStock
Address: 401 North Olive Avenue West Palm Beach, West Palm Beach, FL 33401, United States
Website: https://alphabetastock.com

Source: PressCable

Release ID: 88911766

Latest News

Mortgage rates boosted US home sales 1.3% in August

Sep 19, 2019

WASHINGTON — U.S. home sales rose 1.3% in August to the highest level in 17 months, as mortgage rates near historic lows have spurred a rush of home-buying. The National Association of Realtors said Thursday that homes sold last month at a seasonally adjusted annualized rate of 5.49 million units, the best performance since March 2018. Sales have increased 2.6% from a year ago. Cheaper borrowing costs have increased affordability for buyers, but they have also led to higher prices amid a shortage of properties for sale. The median sales price climbed 4.7% from a year ago to $278,200, outpacing...

Bermuda lashed by heavy winds from Cat 3 Hurricane Humberto

Sep 19, 2019

MIAMI — Hurricane Humberto lashed Bermuda with strong winds Wednesday night as the powerful Category 3 storm passed just to the north of the British Atlantic territory, while another growing storm threatened tourist resorts along Mexico's Pacific coast. Bermuda Gov. John Rankin called up 120 members of the Royal Bermuda Regiment to prepare for possible storm recovery efforts and National Security Minister Wayne Caines cautioned everyone to stay inside. Authorities had ordered early closings of schools, clinics and government offices. The U.S. National Hurricane Center said hurricane-force winds began to hit the island of some 70,000 people by late afternoon...

Amazon Prime to stream Rihanna's next-level lingerie show

Sep 19, 2019

NEW YORK — Rihanna believes women of all shapes, colors and sizes should be celebrated, and that spirit of inclusion has made her lingerie and beauty lines massive successes. "Women just need a little bit of validation," the superstar explained to The Associated Press ahead of her Savage X Fenty fashion show last week. "You are beautiful. Your body's beautiful. Your body's sexy and you deserve to feel that way," she added. That mission will be showcased Friday as Amazon Prime streams her New York Fashion Week show for Savage X Fenty in more than 200 countries and territories. The...

Panel approves ban on sale of flavored e-cigs in New York

Sep 19, 2019

NEW YORK — New York became the first state to ban the sale of flavored e-cigarettes Tuesday, a move that comes as federal health officials investigate a mysterious surge of severe breathing illnesses linked to vaping. The vote by the state Public Health and Health Planning Council means the prohibition, which covers flavored e-cigarettes and other vaping products except for menthol and tobacco flavors, goes into effect immediately. Retailers will have two weeks to remove merchandise from store shelves. Gov. Andrew Cuomo, a Democrat, had proposed the emergency ban Sunday , citing surging use among young people. According to data...

Indiana lawmakers seek probe of ex-abortion doctor's clinics

Sep 19, 2019

INDIANAPOLIS — Indiana's attorney general said Monday that he will work with his Illinois counterpart to investigate what he called the "grisly discovery" of more than 2,000 medically preserved fetal remains at the Illinois home of a late doctor who performed abortions in Indiana. Republican Attorney General Curtis Hill said he and Democratic Illinois Attorney General Kwame Raoul have "agreed to work together" as Hill's office coordinates an investigation of the remains found at the home of Dr. Ulrich Klopfer, who died Sept. 3. "The grisly discovery of these fetal remains at the Illinois home of a deceased abortion doctor...

About Us

Travel Leisure Mag is New York City’s travel and lifestyle online magazine with the vision of creating a unique blend of valuable and quality travel experience to the readers. We trust that you will enjoy this experience.

Contact us: sales[at]travelleisuremag.com