Currency Analyst since 2010

July 19: Asian session

Moody’s Investors Service revised US Aaa credit-rating outlook from negative to stable saying that the government’s debt trajectory has steadied with budget deficits narrowing. The world’s stock markets extended their rally on Thursday, with major U.S. indexes hitting all-time highs as the Fed again reassured investors that it was flexible on the timing for ending its stimulus program.

EUR/USD rose to $1.3150 after testing $1.3066 yesterday. Germany will release producer price index at 06:00 GMT. The pair may be also driven today by the dynamics of stocks and bonds. GBP/USD is trading on the upside fluctuating in the $1.5200/50 area. The UK will release public sector net borrowing data at 08:30 GMT.

USD/JPY dropped by 100 pips to 99.80, but later recovered to 100.00. Yen strengthened ahead of the forthcoming BoJ elections on Sunday. USD/CHF fell to 0.9415.

AUD/USD and NZD/USD are trading in the narrow positive ranges on Friday. Aussie rose to $0.9190, while kiwi – to $0.7910. USD/CAD slid to 1.0360. Watch for Canadian inflation figures at 12:30 GMT.


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