Forex Marketz Daily Forex News – Fully Markets Update
The safe haven Japanese yen hit a six month low against the U.S. dollar. Trader sentiment was vastly improved after stronger than expected increase with manufacturing in China.
Polls in the United Kingdom showed the race tightening between Labor and the Tory Party. This sent the British pound lower.
The Japanese yen lost 0.2 percent against the U.S. dollar during the Asian session. The headline USD/JPY currency exchange rate was last trading at 109.72 yen. This is its lowest price level since May.
At risk, higher interest bearing Forex unites got a boost after data showed that manufacturing activity in China expanded in November.
The GBP/USD Forex market was down about a quarter of a percent to trade at 1.2913. Polls are showing the Tory lead over Labor narrowing. Elections are scheduled for December 12.
The New Zealand dollar was up 0.6 percent against the Japanese currency. The NZD/JPY is now trading at its highest price point since August.
The NZD/USD currency exchange rate rose 0.3 percent to trade at 0.6444. This is a new monthly high price point.
The AUD/USD Forex market added 0.2 percent to trade at 0.6774 and the EUR/USD Forex market was trading steady.
The dollar index, which measures the U.S. dollar in a basket of six currencies, was trading steady at 93.19.
Traders Watch Economic Data and Move out of Safe Havens like the Yen
Today, China released the private Caixin survey. This showed that factory activity, for November, expanded at its fastest pace in nearly three years.
This data followed stronger than expected economic data released over the weekend.
This survey showed that total new orders and factory production were at firm levels, as well.
Looking at trade headlines between China and the United States, the U.S. negotiating team has said that tensions over Hong Kong have stalled trade talks between the two nations.
However, this news did not dent trader sentiment.
Last week, if you recall, China warned the United States that Beijing would take “firm countermeasures” in response to the U.S. siding and passing legislation in support of pro-democracy protesters in Hong Kong. Beijing has yet to specify any details.
