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USD and CHF stabilize as Yen rises amid uncertainty concerns

2019-08-22 01:18 pm | Resource: News | No Views : 73

USD and CHF stabilize as Yen rises amid uncertainty concerns

The dollar and the franc stabilized with the yen rising during Thursday's trading amid the absence of a clear vision for the future of US monetary policy amid mounting fears of a slowdown in the global economy and the specter of the US recession, which will have negative repercussions on the rest of the economies around the world.

German and British bonds turned into losses as data improved

Risk appetite rebounded in the markets on Thursday, providing a short-term easing of equities while safe-haven assets suffered. Sovereign bonds of Germany and the UK trimmed gains and fell, leading to strong yields, trading gold and silver in the red. Investors encouraged the rise in manufacturing in France in the preliminary data, which means that last month's contraction was more than offset. At the same time, reports showed declines in Germany and the euro zone have eased.

French President Emmanuel Macron and British Prime Minister Boris Johnson have agreed that the impasse must be resolved before Britain pulls out on October 31. The new UK leader expressed optimism that "a good deal can be reached". Stocks traded in positive territory.

Lower UK immigration leads to negative impact

While the net number of arrivals in the year to March reached 226,000 or the lowest level since 2013, the UK's largest business lobby group said on Thursday that "a huge change" was happening to employers. According to the Confederation of British Industry, the downward trend in immigration “coupled with a record low unemployment rate means that skills shortages are worsening” especially with the risk of a disorderly withdrawal from the EU.

"The announcement that free movement will end immediately in 'no deal' has left employers and their employees asking fundamental questions about what this means for them. They desperately need this clarification," the statement adds.
  • The yield on the two-year German bond jumped 4.4 basis points to a negative 0.841% at 2:27 CET.
  • The ten-year index rose 4.6 points to minus 0.624% compared with a 5.7-point rise in the 30-year rate to 0.115% below zero.
  • The corresponding futures prices are 0.09%, 0.52% and 1.21%, respectively.
  • The yield on Britain's two-year and thirty-year debt rose 2.3 points at 0.524%, 5.1 at 0.526% and 4.9 points at 1.077% respectively

Dollar trades against currencies

  • The dollar index stabilized 0.02% to trade at 98.34 points.
  • The euro was down 0.08% against the dollar at the same time, reaching $ 1.1073 levels.
  • The pound rose against the dollar during European trading to settle at 1.2153 levels.
  • The greenback was down against the yen, shedding 0.16% to trade at 106.51.
  • The Swiss franc rose against the US dollar, while the dollar is trading at 0.9841.
  • Against the Canadian dollar, the greenback was down 0.03% at 1.3288.

Other analysis

Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

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