CURRENCY MARKET OVERVIEW : 11.08.2016
Asian markets are trading mixed. Metal and mining stocks took a hit in Tokyo after the Chinese steel futures fell overnight. Moreover, Japanese stocks are also trading lower as strong Yen weighed heavily on the Japanese retail and exporters’ stocks.
US DOLLAR INDEX (USD)
After standing strong in the past 2-3 days, the American currency fell by 0.5 percent. This was mainly due to the recent strength in the currency that prompted the traders to book profits.
However, sharp losses were capped as markets discount the robust release of ADP and NFP employment data from the nation that came far better than the expected levels in July’16. Amid
uncertain global conditions, there has been a decent demand for workers which clearly indicates that the labour markets have finally found some stability.
US Dollar Index made an intraday low of 95.38 and closed at 95.61 levels on Monday
Asian markets are trading mixed. Metal and mining stocks took a hit in Tokyo after the Chinese steel futures fell overnight. Moreover, Japanese stocks are also trading lower as strong Yen weighed heavily on the Japanese retail and exporters’ stocks.
US DOLLAR INDEX (USD)
After standing strong in the past 2-3 days, the American currency fell by 0.5 percent. This was mainly due to the recent strength in the currency that prompted the traders to book profits.
However, sharp losses were capped as markets discount the robust release of ADP and NFP employment data from the nation that came far better than the expected levels in July’16. Amid
uncertain global conditions, there has been a decent demand for workers which clearly indicates that the labour markets have finally found some stability.
US Dollar Index made an intraday low of 95.38 and closed at 95.61 levels on Monday