JPY
The yen made impressive gains versus all 16 of its major currency counterparts in response to political instability in both Holland and France, which is decreasing the likelihood that the European debt crisis will be contained. The biggest gainers have obviously been safe-haven assets. The JPY climbed vs. the dollar and euro ahead of Dutch Prime Minister Mark Rutte speaking before parliament today, following his cabinet’s resignation yesterday. The JPY climbed 0.3 percent to 106.44 per euro. The USD/JPY pair has slid more than 0.3 percent this morning to 80.92 yen.
CAD
The Canadian dollar made impressive gains against a majority of its peers yesterday on speculation that better growth will lead to higher interest rates. However, the CAD has lost some steam this morning versus its U.S. and Japanese currency counterparts, as growing instability in Europe has increased demand for haven currencies. The USD/CAD pair has slid 0.1 percent in the latest trading to C$0.9904. Going short on the USD/CAD pair could yield high returns today.
AUD
The Australian dollar declined as bond yields sank and consumer inflation slowed in the first quarter. This has led many analysts to the conclusion that the central bank will decrease borrowing costs. The AUD/USD pair is trading lower by about 0.6 percent this morning at the $1.0258 level. The consumer price index rose 0.1 percent in the first quarter versus the 0.6 percent forecast. The RBA has signaled that it is willing to lower rates from 4.25 percent to bolster the Australian economy. The political uncertainty in Europe has led to limited demand for the Aussie. Therefore, opening Call options for the AUD/USD pair looks to be the wise choice among investors this Tuesday.
The yen made impressive gains versus all 16 of its major currency counterparts in response to political instability in both Holland and France, which is decreasing the likelihood that the European debt crisis will be contained. The biggest gainers have obviously been safe-haven assets. The JPY climbed vs. the dollar and euro ahead of Dutch Prime Minister Mark Rutte speaking before parliament today, following his cabinet’s resignation yesterday. The JPY climbed 0.3 percent to 106.44 per euro. The USD/JPY pair has slid more than 0.3 percent this morning to 80.92 yen.
CAD
The Canadian dollar made impressive gains against a majority of its peers yesterday on speculation that better growth will lead to higher interest rates. However, the CAD has lost some steam this morning versus its U.S. and Japanese currency counterparts, as growing instability in Europe has increased demand for haven currencies. The USD/CAD pair has slid 0.1 percent in the latest trading to C$0.9904. Going short on the USD/CAD pair could yield high returns today.
AUD
The Australian dollar declined as bond yields sank and consumer inflation slowed in the first quarter. This has led many analysts to the conclusion that the central bank will decrease borrowing costs. The AUD/USD pair is trading lower by about 0.6 percent this morning at the $1.0258 level. The consumer price index rose 0.1 percent in the first quarter versus the 0.6 percent forecast. The RBA has signaled that it is willing to lower rates from 4.25 percent to bolster the Australian economy. The political uncertainty in Europe has led to limited demand for the Aussie. Therefore, opening Call options for the AUD/USD pair looks to be the wise choice among investors this Tuesday.
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