Forex Marketz Daily Forex News – Fully Markets Update
Safe haven Forex assets like the Japanese yen, Swiss franc and the U.S. dollar all rose after a U.S. airstrike in Baghdad killed a senior Iranian military general. This has increased tensions thorough the Middle East.
On Friday, the Japanese yen hit its highest level in months and continues to gain ground during Monday’s Asian trade session.
U.S. Treasuries, oil prices and gold all spiked higher after news broke that the United States had killed Iranian Major-General Qassem Soleimani and Iraqi militia commander Abu Mahdi al-Muhandis in Iraq at the end of last week.
The U.S. Pentagon has confirmed the strike and U.S. officials say that Soleimani was planning to attack Americans in Iraq and in the Middle East.
On Friday, the yen climbed to a two month high against the U.S. dollar. This morning the USD/JPY Forex market is down another half percent and above the ¥108 handle.
The Japanese currency is a safe haven asset during times of global and financial uncertainty. Japan is the world’s largest creditor.
The Swiss franc, another safe haven Forex unit, soared higher against the euro to trade near a four month high at 1.0824. The U.S. dollar is trading near a one week high against the euro currency.
The Yen Strengthens as Forex Traders Wait on Key Global Economic Data
Looking at the economic calendar today, there is retail sales numbers from Germany scheduled for release during the European trade session. Analysts are expecting retail sales to come in at 1.1 percent from the -1.9 percent seen in November.
There are also a number of Eurozone purchasing managers’ indices (PMI) from various member states including the United Kingdom on the schedule today. Canada also has monthly RMPI data on the calendar today.
On the calendar, in the United States, during the North American trade session, final services purchasing managers’ index.
