Saudis and Russia have finally agreed to freeze oil production, but what effect has it had on the currency markets? Let’s take a closer look with the Movers and Shakers Report. New Zealand/Yen is the mover of the day, having lost 1.64%. The pair was trending lower for most of the day. Oil prices have failed to recover even in light of the production freeze and, in fact, safe havens are very much back in demand. Yen is the most bullish of them, trading point 38% up from the Greenback. Moving a fraction lower, we get to Swissie, and it, in turn, is trading almost level with the Common Currency, which received some support from improved Economic Sentiment data. The latest Reserve Bank of Australia meeting minutes suggest the interest rates will stay low for a long time, and Aussie is point 2% up from the Loonie. UK annual inflation inched slightly higher in January and, even though Sterling is trading mostly lower, it does stand point 23% up from the Kiwi, which is the most bearish major. Euro/Pound is the most bullish pair on the weekly chart, having gained 1.41%, whereas Pound/Yen posts the biggest decline, as it’s down by 3.71%. Things look very similar in monthly terms, as Euro/Pound again tops the bullish chart with a gain of 3.57% and Pound/Yen is the most bearish instrument with a drop of 4.15%. You’ve been watching the Movers and Shakers with me, Sam Meredith. Check back in tomorrow for our continued coverage of the forex markets. Goodbye for now.
Saudis and Russia have finally agreed to freeze oil production, but what effect has it had on the currency markets? Let’s take a closer look with the Movers and Shakers Report.
New Zealand/Yen is the mover of the day, having lost 1.64%. The pair was trending lower for most of the day.
Oil prices have failed to recover even in light of the production freeze and, in fact, safe havens are very much back in demand. Yen is the most bullish of them, trading point 38% up from the Greenback.
Moving a fraction lower, we get to Swissie, and it, in turn, is trading almost level with the Common Currency, which received some support from improved Economic Sentiment data.
The latest Reserve Bank of Australia meeting minutes suggest the interest rates will stay low for a long time, and Aussie is point 2% up from the Loonie.
UK annual inflation inched slightly higher in January and, even though Sterling is trading mostly lower, it does stand point 23% up from the Kiwi, which is the most bearish major.
Euro/Pound is the most bullish pair on the weekly chart, having gained 1.41%, whereas Pound/Yen posts the biggest decline, as it’s down by 3.71%.
Things look very similar in monthly terms, as Euro/Pound again tops the bullish chart with a gain of 3.57% and Pound/Yen is the most bearish instrument with a drop of 4.15%.
You’ve been watching the Movers and Shakers with me, Sam Meredith. Check back in tomorrow for our continued coverage of the forex markets. Goodbye for now.
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