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Yen is currently trading as the strongest currency for the day as the markets enter into US session. The earlier dip below 160 psychological support against Dollar spurred a wave of buying, propelling Yen sharply higher. However, subsequent trading has not shown clear follow-through momentum, indicating that the initial surge may have been more of a reactive spike. ....
Eurozone Economic Sentiment Indicator fell from 96.2 to 95.6 in April, below expectation of 96.9. Employment Expectations Indicator fell from 102.5 to 101.8. Economic Uncertainty Indicator fell from 19.3 to 18.8. ....
Eurozone Economic Sentiment Indicator rose from 95.5 to 96.3 in March, above expectation of 96.1. Employment Expectations Indicator rose from 102.5 to 102.6. Economic Uncertainty Indicator fell from 20.3 to 19.2. ....
Japanese Yen staged in a notable rebound in European session, triggered by heightened market vigilance towards market interventions. This reaction comes in the wake of a significant meeting between Japan's Ministry of Finance, Financial Services Agency, and Bank of Japan, marking the first such tripartite gathering since last May. The meeting was called into action as Yen plunged to a 34-year low against Dollar briefly, prompting concern over the currency's rapid depreciation. ....
Dollar, Yen, and Swiss Franc emerge as the predominant winners as markets enter into US session, amidst a backdrop of mild risk-off sentiment. Nevertheless, momentum of these safe-haven currencies remains relatively tempered, holding off major range breakouts across the most traded currency pairs. Traders, particularly those focusing on Dollar, seem poised on the sidelines, awaiting tomorrow's PCE inflation data from US. This upcoming release is anticipated to shed light on whether the disinflationary trend has stalled, as indicated by the latest CPI data. ....