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Tag: EUR

Phew! Turkey bashing takes a break for now

Tuesday August 14: Five things the markets are talking about Tuesday sees a tentative reprieve for global equities in the wake of Turkey’s induced turmoil and the forex market has managed to stabilize a tad, aided by reports this morning that the Turkish Finance Ministry has scheduled an investor call for Thursday, Aug 16. The […]

Euro rebounds as markets find relative calm

After the Monday Mayhem from the Turkey contagion, a sense of calm descended on FX markets during today’s Asian session. USD/TRY headed lower from its record high yesterday as the markets digested the impact and effectiveness of the central bank’s measures announced yesterday. Selling of emerging currencies eases The move in USD/TRY prompted other emerging […]

OANDA Market Beat Risk Aversion Boosts Dollar

OANDA Senior Market Analyst Alfonso Esparza reviews the major upcoming market news, macro analysis and economic indicator releases that will impact currencies, stocks other asset classes. Subscription available on iTunes https://goo.gl/TZEWRW and GooglePlay https://goo.gl/cRBk39. Tune in every Tuesday and don’t miss a beat as we cover the hottest trends impacting the markets in the week […]

Loonie hanging tough against the crosses, forget USD/CAD

CAD ‘bulls’ are looking to the crosses for some early week wins, especially GBP (£1.6766) and EUR (€1.4980) and will avoid the pain of the long dollar positions in this ‘risk off’ emerging market debacle. Demand for the U.S dollar does not look like slowing down any time soon and with three-month U.S T-Bills at […]

Turkey must ensure independence of central bank

German Chancellor Angela Merkel urged Turkey on Monday to ensure the independence of its central bank as other senior officials said that Turkey’s economic woes were causing great concern. The Turkish lira has lost more than 40 percent against the dollar this year, largely due to worries about President Tayyip Erdogan’s influence over the economy, […]

A market bloodbath as Turkey fever spreads

Just when you though it was safe to invest in an asset that made sense, be it forex, bonds or stocks, fear and contagion has suddenly appeared, and in under 48-hours has severely bullied emerging markets into near submission. In six-weeks, the Turkish lira has fallen nearly +45% against the dollar, when President Erdogan won […]

Euro touches lowest in more than a year as Turkey effect continues

Turkey says it has an action plan The EUR touched a 13-month low versus the US dollar as trading got underway this week, with markets preparing for more turmoil involving the Turkish lira. The seemingly unstoppable downward spiral in Turkey’s currency and economy is raising concerns about European banks’ exposures to the country helped spark […]

OANDA Market Insights podcast (episode 27)

OANDA Senior Market Analyst Alfonso Esparza reviews the week’s business and market news with Jazz FM Business Breakfast presenter Jonny Hart. This week’s biggest stories: US sanctions against Iran, Turkish lira collapse after steel sanctions and market reaction to UK GDP data Big revisions offset July miss on payrolls Another strong US jobs report expected […]

Dollar Higher as Risk Appetite Vanishes

The US dollar appreciated versus most major pairs on Friday. The Japanese yen outperformed the greenback as a safe haven, but all other major currencies suffered heavy losses during the week. Tense trade developments between China and the US and Friday’s drop in the Turkish lira dragged emerging and developed markets lower as US sanctions […]

USD/CAD plummets on Canadian jobs report

Canadian jobs market is on fire By the numbers: Canada Jul Net Jobs +54,100 From Jun Canada Jul Net Jobs Forecast At +17,000 Canada Jul Full-Time Jobs -28,000; Part-Time +82,000 Canada Jul Jobless Rate 5.8%; Jun 6.0% Canada Jul Jobless Rate Forecast At 5.9% Canada Jul Avg Hourly Wages +3.2% From Year Ago Canada Labor […]