US Dollar in Short-term Panic Amid Weak Data, Falling Yields
The US Dollar was the second worst performing major this past week, gaining only against the significantly weaker Japanese Yen by +0.81%.
Japanese Tumbles then Surges – Pivotal Week Ahead
The Japanese Yen came within a hair’s width of the critical ¥100 mark against the US Dollar (ticker: USDOLLAR), once again posting the worst 7-day performance of any major currency two weeks after the Bank of Japan embarked on hyperactive Quantitative Easing measures.
Gold Plummets Through Key Support as Fed Mulls QE End- $1482 in Focus
Gold plummeted this week with the precious metal falling nearly 5% to trade at $1502 at the close of trade in New York on Friday. The loss pushed bullion below key technical barriers with Friday’s range marking the largest decline in more than a year. However, with data out of the world’s largest economy coming under increased scrutiny, could weak US data help support the battered metal? Don’t count on it.
New Zealand Dollar Poised to Gain as China GDP Likely to Impress
The New Zealand Dollar continued its gains for the fifth consecutive week, rallying by 1.7 percent against the Greenback.
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Source: Daily fx