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Forex Market News Update-22 Feb 2016

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EURO (EUR/USD)
Euro decreased by 0.1 percent in the last week as markets discounted the speech by the President of European Central Bank who announced that the Governing Council would review and possibly reconsider its stimulus program in early March.
However, sharp losses were capped owing to robust release of economic data from the nation. German investor confidence declined sharply in February to its lowest level in sixteen months. This was mainly due to worries over the global economic slowdown and the falling oil price.

STERLING POUND (GBP/USD)
Sterling Pound traded lower by 0.7 percent in the last week in a bleak message from Financial Policy Committee member Adair Turner forecasted that given the current conditions, the UK interest rate may not pass 2 percent by 2020. This along with the ongoing debate in the House of Commons over the UK-EU Referendum kept the Sterling Pound pressurized.
However, sharp losses were capped owing to robust release of earnings and inflation data from the nation. Consumer price inflation showed small signs of rising. This acted as a positive factor of the currency.

JAPANESE YEN (JPY/USD)
The Japanese Yen appreciated by 0.06 percent in the last week as the market discounted the two day testimony of US Federal Reserve Chair Janet Yellen. She stated that the continuous market turmoil could obstruct the central bank’s way of increasing borrowing rates, one which the policy makers have forecasted for 2016.
Ms Yellen also stated that the US Central bank should not be blamed for the recent turmoil in the global markets and is unlikely to roll back its December interest-rate increase in response.

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Alisha Singh

Alisha Singh

1 comment:

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