Currency News – Some markets grow stronger, some weaker
The world markets are constantly changing day in and day out. Some markets grow stronger, some weaker, and all movements are due to a wide range of factors. It is important to know different events happening all over the world and how they can impact the various currencies. Here is the latest world currency news – Tuesday.
US Dollar News
United States President Donald Trump just delivered a speech to Congress, his first ever as the 45th President of the United States. Contrary to what analysts and news reporters predicted, the normally firebrand Trump was toned down in terms of his rhetoric. According to financial analysts, this was actually what helped the US dollar to get even stronger. Trump committed to spend heavily on infrastructure and give tax reliefs to the middle class, and although this is great news, investors claim that it was his surprisingly less offensive tone that was source of the positive effect. Look for the greenback to remain steady and even grow stronger in the coming days and weeks.
British Pound News
The British Pound was weaker the past week, since many investors were waiting to see if there were any additional ramifications due to the Brexit. The opposition Labour Party suffered a significant defeat during the recent parliamentary by-elections, with Prime Minister Theresa May of the Conservatives coming out victorious. Investors are carefully waiting to see what the government’s next steps would be, thereby allowing the weakening of the British Pound, particularly against the US Dollar and the Euro.
The upcoming French elections slated for May of this year has a huge impact on the Euro currency, and the results will certainly do so as well. As early as now, surveys taken have shown independent candidate Emmanuel Marcon taking a significant lead over right-wing candidate Marine Le Pen, with two months to go. This latest news has strengthened the Euro currency, since Marcon has stated in his campaign that he would have France be more involved with the European Union economically, which bodes well for the currency. His opponent Le Pen has the opposite stand and would lead France further away from the EU.
Japanese Yen News
The Japanese Yen was experiencing both gains and losses with the US Dollar all week, up until Donald Trump’s speech. After the speech to Congress, the Japanese Yen closed lower than the US Dollar, albeit only slightly. Data from Japan’s industrial production shows that January was a poor month, being down 0.8%. However, data from retail sales show that they were better than initially expected. Initial expectations were only 0.3%, but actual data showed a 0.5% increase. It looks as if the USD and JPY will continue to hold steady against each other for the coming few days, at the very least.
Knowledge about the latest movements in the financial markets as well as keeping up to date with the world currency news will help you in your investments. If you are holding a particular currency and want to transfer or compare, this knowledge will certainly help you decide on the right time to invest or transfer your money. That is the latest in currency news – Tuesday.