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Most of the FX majors remain somewhat soft on the third trading day this week apart from FX safe-havens and the euro. With risk flows halting in the first half of the trading session, market participants seem rather restrained on asset options.
Euro Weakens Ahead of ECB
Market participants anticipate the ECB to dive into lower negative rates on Thursday, eurodollar flows indicate. After all, Draghi convinced the markets that the central bank will do “whatever it takes” to preserve the European currency.
Euro is falling away from 1.1050 and towards the 1.1025 level against the greenback. Data showed that Spanish Industrial Production deteriorated from 2.5% expected to 0.8%.
FX Safe-Havens Down on Easing Expectations
The Japanese yen continues being under pressure as investors turn their back on the safe-haven asset on expectations that BoJ will be easing policy on their meeting next week. USDJPY had an array of positive sessions this week with investors now eying the 108 le...
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