Daily Market News By FXNET

EUR/USD added 27 focuses to exchange at 1.3769 after the dollar plunged as dealers re-assessed the FOMC taping and rate increment. Dealers are holding up to see the points of interest of the last Fed gathering in tomorrow’s moment discharge. Climbing pressures in Ukraine likewise tempered speculator craving for danger. Ace Moscow dissenters in eastern Ukraine seized arms in one city and announced a separatist republic in an alternate. Ukraine on Monday called the moves a piece of a Russian plan to legitimize an attack.

GBP/USD soared today adding 91 points after positive economic data releases. The GBP is trading at 1.6699 and is likely to break the 1.67 range before the end of the day. Industrial production and manufacturing production both exceeded forecast. Sterling rose to its highest in three weeks against the dollar and a one-month maximum against the euro after data on Tuesday showed industrial output rose much faster than forecast in February.

AUD/USD added 11 points to trade at 0.9281 after the release of the NAB business confidence report which printed a bit lower than the previous month. Traders moved from equities to commodity currencies as earning season begins today. The value of Reserve Bank of Australia’s foreign currency reserves jumped by $US10 billion ($10.8 billion) last month just as emerging market central bankers accelerated their intervention in foreign exchange markets in an attempt support their economies.

USD/JPY gave up 12 points to trade at 102.98 remaining well above its trading range as the JPY strengthened after the Bank of Japan held rates and policy this morning. Today’s decision said that Japan’s economy has continued to recover moderately, and noted front-loaded demand ahead of the April sales-tax bump. Overseas economies, mainly advanced ones, are starting to recover, the BOJ said.

Gold continued to climb today as geopolitical tensions grew between Russia and the Ukraine. Gold added $12.20 to trade at 1310.50. Foreign currency market sources think that the Federal Reserve will postpone the tapering of bond purchases, following the disappointing jobs report for March. Businesses added 192,000 jobs during the month, below expectations of 199,000 jobs. The unemployment rate in the US remained unchanged at 6.7%, compared with expectations of a drop to 6.6%.

Fundamental Analysis April 11
EUR/USD keeps on inflaing exchanging at 1.3866 including 11 focuses moving without much explanation behind the additions. The euro searches headed for a genuine fall in the close term. he dollar dropped to more than two week-lows against the euro and Swiss franc on Wednesday after minutes of the most recent Federal Reserve money related arrangement gathering recommended that the U.s. national bank may not raise premium rates at whatever time soon.

GBP/USD is quiet ahead of the BoE meeting later today, although the MPC is not expected to make any changes and will avoid a public statement traders are remaining cautious before the release. The GBP exchange rate jumped by half a cent to a near-2-month high in reaction to the latest Minutes from the Federal Reserve, which showed that policymakers are concerned that a premature hiking of interest rates could damage the burgeoning economic recovery.

AUD/USD added 13 points to break over the 94 level trading at 0.9402 after a strong employment release this morning. The Aussie unemployment rate fell to 5.8% a much larger fall than expected. The nation also created a lot more new jobs that forecast. Australia’s dollar reached a more than four-month high versus the greenback after the government reported unemployment unexpectedly fell for the first time since September.

USD/JPY eased by 15 points to trade at 101.84 as the yen has steadily gained since the Bank of Japan decision to hold rates and stimulus. Mr. Kudora later gave a glowing outlook for the economy and said that there was little need for additional stimulus. he dollar drifted at three-week lows against a basket of major currencies early on Thursday, having fallen for a fourth session after minutes from the Federal Reserve’s March meeting disappointed dollar bulls.

Gold added $16.40 to trade at 1322.30 climbing steadily after the FOMC minutes release and on geopolitical tensions with Russia. Gold extended gains to a third session on Thursday, scaling fresh two-week highs, after minutes from the Federal Reserve’s policy meeting showed that officials were not keen on increasing interest rates anytime soon.

[B] Fundamental Analysis April 16[/B]
EUR/USD fell on Tuesday after the arrival of a disillusioning German ZEW Economic Sentiment report. The administration reported a drop to 43.2 from 46.6. Moguls were searching for 46.3. The decrease in the ZEW puts further weight on the European Central Bank to make a move to empower the economy, however the ECB is liable to hold up until the arrival of most recent CPI information on Wednesday. This report is relied upon to show a 0.5% perusing which will be unaltered from the past month.

GBP/USD rallied after U.K. inflation data fell in-line with expectations. The headline year-on-year CPI data fell to the lowest level since October 2009 and the year-on-year measure of retail inflation declined to its weakest level in nearly five years. One bright spot was the surge in the House Price Index. This report exceeded expectations with a 9.1% rise. Traders were pricing in an increase of 7.2%.

AUD/USD rose slightly following the release of the latest Reserve Bank minutes, but failed to hold on to its gains. The minutes didn’t offer any surprises for traders and was viewed as somewhat neutral. Some traders thought the recent run up in the Aussie would have been addressed in the minutes, but the central bank seemed to be unfazed by the price level.

USD/JPY finished flat-to-slightly better following the release of better-than-expected U.S. consumer inflation data. According to the latest data, the U.S. CPI rose 0.2 percent in March, versus expectations of a 0.1 percent gain. Helping to limit gains was the weak Empire State Manufacturing Index. Traders were looking for a robust gain of 8.2. The actual report showed a decline of 1.3.

Gold futures plunged sharply lower after the better-than-expected U.S. CPI report helped trigger a rally in the dollar. Since gold is dollar-denominated, a stronger dollar tends to weaken demand for gold, pressuring the commodity.

EUR/USD gained 20 points to trade at 1.3835 and I cannot explain why. CPI missed expectations which will force action from the ECB. Perhaps it is a correction after comments from Mr. Draghi and other ECB members over the weekend about stimulus to push inflation upwards had already been taken into account by the markets.

GBP/USD remains the stellar performer as the UK economy keeps moving forward showing a stronger recovery than the US. Today the unemployment figure drops 2 points to report at 6.9% which might push the Bank of England to consider raising interest rates.

USD/CAD traded between small gains and losses as the US dollar gained a bit of momentum to trade at 1.0981 ahead of US and CAD data due towards the end of the European session.

Gold is trading just over the 1300 level at 1302.50 up $2.20 today ahead of US data and this evenings speech by FOMC Director Yellen. Pressures continue to climb in the Ukraine but traders are no longer moving to safety. Fed Chair Janet Yellen is due to speak on monetary policy and the economic recovery later on Wednesday.

Fundamental Analysis April 22
EUR/USD completed marginally better on Monday joined by unstable value movement. Volume was down as a result of the developed Easter festival. Germany, Italy and France are all on bank occasion today.

Trading was limited in the GBP/USD today due to an extended Easter bank holiday. Later this week, investors will get the opportunity to react to the latest data from the Monetary Policy Committee although this report is expected to show no surprises. On deck is the MPC Official Bank Rate Votes, followed by Public Sector Net Borrowing.

AUD/USD saw some volatility on Monday. Thin holiday trading conditions may have had something to do with the two-sided trade. Traders could be positioning themselves ahead of the CB Leading Index report

Gold futures were down a little more than 0.50 percent on Monday. Price reached a low of $1281.80 before stabilizing. The market crossed to the weak side of a retracement level at $1289.45 before taking out last week’s low. Traders are looking for the slide to continue to at least the April 1 bottom at $1277.40, followed by a 61.8% level at $1265.20.

EUR/USD picked up 20 focuses to exchange at 1.3813 staying inside its late exchanging reach with no Eurozone information and US information still before the businesses.

GBP/USD was the star performer today adding 35 points to trade at 1.6827. Decent factory production figures combined with another strong month for the labor market sent March’s index of US Leading Indicators higher.

AUD is trading at 0.9348 after trading as high as 0.95 just a week ago. The US dollar has climbed above the 80 level as is expected to continue to gain as US data supports the defrost of the US economy after the severe winter freeze.

USD/JPY was the most active currency pair on Monday and continues to climb on Tuesday trading at 102.67 above its average trading range as data released on the Easter Monday holiday upset traders and analysts.

Gold recovered a few dollars today moving between small gains and losses with little direction as tensions seemed to ease in Ukraine. Gold is trading at 1291.40. Gold recovered from early losses on Tuesday as the dollar gave back some gains, but sentiment among investors continued to be fragile on further outflows from bullion-backed funds.

EUR/USD moved to exchange at 1.3838. The euro zone streak PMI was stronger than anticipated, and this helped lift the euro about a large portion of a penny and further bond its recuperation from the dip to seven-day lows yesterday.

GBP/USD eased by 28 points to trade at 1.6795 after the MPC meeting minutes seemed to indicated that the members were not contemplating an interest rate increase in the near future.

AUD/USD recovered 4 points after Wednesday’s decline after inflation reported lower than expected. The AUD is trading at 0.9294 well below its April trading range. Even the declining US dollar did not help support the currency. Traders were hit with a decline in China manufacturing.

USD/JPY eased by 21 points as the US dollar declined to trade at 102.32 after the dollar declined on lackluster new home sales. “The WSJ reported yesterday that the BOJ may upgrade its inflation forecast for FY2014 if the April Tokyo CPI, due to be released on Friday, is strong.” “Unnamed sources familiar with the matter in a WSJ article emphasized that a 2% inflation forecast for FY2015-16 does not necessarily mean the BOJ will consider exiting monetary easing any time soon.

Gold recovered $5.30 to trade at 1286.40 but remains directionless as data continues to support an increase in tapering at the next FOMC meet…

EUR/USD picked up 11 point today after US information disillusioned trader yesterday with new home deals falling admirably underneath desires. The euro was exchanging at 1.3828 in front of Mario Draghi’s discourse this evening where he is relied upon to remark on the high cost of the euro.

GBP/USD gained 13 points to trade at 1.6796 as traders recovered from their disappointment in the MPC minutes. Speculators seem sure that the BoE was close to raising interest rates but the minutes showed that the members were not even considering a rate hike at this time and are waiting for more assurances that the economy is under full recovery.

AUD/USD recovered 4 points after Wednesday’s decline after inflation reported lower than expected. The AUD is trading at 0.9294 well below its April trading range. Even the declining US dollar did not help support the currency. Traders were hit with a decline in China manufacturing.

USD/JPY eased by 21 points as the US dollar declined to trade at 102.32 after the dollar declined on lackluster new home sales

Gold is flat for the day moving between gains and losses with no direction as traders take a breather after the situation in the Ukraine seems to have puffed out. Gold remains at the 1284.00 price level.

[B] Fundamental Analysis April 28[/B]
EUR/USD traded in the green to trade at 1.3835 as traders weigh ECB Draghi’s comments about the high cost of the euro and the possibility of negative interest rates.

GBP/USD surged today adding 17 points to 1.6820 after UK retail sales beat expectations. The retail sales reading suggests the British consumer continues to drive a strong economic recovery, making it likely the Bank of England will raise interest rates early next year, according to the latest market betting.

AUD/USD added 13 points this morning as sentiment retuned to support the currency pushing it up to 0.9282 after falling steadily last week for no real specific reason.

USD/JPY is trading at 102.14 down by 5 points as the yen gained a bit of momentum after the release of retail sales which met expectations as traders were sure it would miss the 11% projection.

Gold gained $10 to trade at 1300.70 as stress over the Ukraine situation pushed traders to safe haven trading. A strong durable goods report on Thursday will push the FOMC to increase their tapering and reduce stimulus.

EUR/USD is exchanging at 1.3818 around 33 focuses after the US dollar kept on gainning on stronger information and the moving of pressures in the Ukraine. The euro fell Tuesday taking after German expansion assumes that fortify the view that the European Central Bank will need to grow jolt measures.

GBP/USD gained 10 points to trade at 1.6818 contrary to market expectations after GDP missed expectations but still printed well above the previous month. Traders are now sure that the Bank of England will begin to increase interest rates this year.

AUD/USD is trading at 0.9249 in the red this morning as traders wait for several major events this week, as there has nothing to affect the currency value except for continued worries about China after the IMF revised China’s growth for 2015 downwards.

USD/JPY is dead on its trading range at 102.49 ahead of the Bank of Japan decision. Although most believe that the Bank will sit tight at this meeting traders are hoping for some indication of if and when the bank is expecting to add additional stimulus and their evaluation of the current economic situation.

Gold gave up just over $4 to trade at 1294.80 ahead of the Fed decision as global sentiment shifted to a more risk on attitude as its seems that tensions in the Ukraine have petered out and the insignificant sanctions mounted by both the US and the EU had little effects on the markets.

EUR/USD gained 11 points after eurozone inflation printed better this month than the previous months. But it still does not take the ECB off the hook.

GBP/USD eased by 11 points to trade at 1.6817 as traders sold off to book profits after the pair skyrocketed on yesterday’s GDP data. The pound performed fairly well yesterday as the Office for National Statistics announced that the British economy expanded by 0.8% in the first quarter.

AUD/USD climbed by 18 points after private sector credit met expectations and a general shift in sentiment to support the commodity currencies after falling on Monday,

USD/JPY is dead on its trading range at 102.49 ahead of the Bank of Japan decision. Although most believe that the Bank will sit tight at this meeting traders are hoping for some indication of if and when the bank is expecting to add additional stimulus and their evaluation of the current economic situation.

Gold gave up $4 to trade at 1292.30 ahead of the FOMC decision. There was no change to the holdings of the SPDR gold ETF or the Gold Trust, once again. Their respective holdings still stand at 792.139 tonnes and 164.41 tonnes.

EUR/USD is exchanging at 1.3880 crawling higher on Thursday having ridden out two days of more terrible than anticipated news on Eurozone swelling and the US economy that have not in a broad sense modified observations of the approach viewpoint in either.

GBP/USD outperformed its crosses to hit a 2014 trading at 1.6911 after strong manufacturing PMI data surprised the markets to the upside.

AUD/USD is down just 2 points at 0.9287 after data releases this morning. Australia’s dollar held a two-day gain after Chinese data showed manufacturing picked up in April.

USD/JPY is trading at 102.30 up by 7 points after the US dollar declined on Wednesday; the pair is recovering the overreaction to lackluster GDP data but extremely positive ADP payroll numbers.

Gold continued to creep down trading at 1285.00 down almost $11 after the US FOMC continued its tapering program and tensions eased in the Ukraine. Traders pushed the Dow Jones to a record high yesterday.

[B] Fundamental Analysis May 7[/B]
[B]EUR/USD[/B] picked up 52 focuses to exchange at 1.3927 setting itself up for a significant fall. Climbing relentlessly after eurozone administrations PMI basically beat desires and Spanish unemployment reported much superior to anticipated. Numerous accept this is all a measurable abnormality as Spain is not in a recuperation mode and with the Easter occasion amidst the month a considerable measure of information was most likely not arranged.

[B]GBP/USD[/B] added 83 points to be the best market performed today after Services PMI data beat expectations. The pound soared to trade at 1.6951 with the possibility of breaking the 1.70 level later in the session.

[B]AUD/USD[/B] gained 7 points after the announcement of the RBA decision to hold rates and policy this morning. The pair is trading at 0.9280. In a strange twist, data showed that Australia’s trade surplus has narrowed, driven by a fall in mining exports.

[B] USD/JPY[/B] climbed off the 101 level touched as markets opened on Monday on safe haven trades with tensions escalating in Ukraine. The yen strengthen last week as the BoJ held rates and fire offering a better than expected assessment of the Japanese economy.

[B]Gold[/B] is trading at 1307.60 down by $1.70 as traders closely monitor the situation in Ukraine but strong US data seems to be outweighing the flight to safety as ISM data a day before surprised markets to the upside. Gold has been trading sideways after it fell sharply after hitting a seven-month high at 1392 USD in mid-March.

EUR/USD gave back most of its earlier gains to trade at 1.3932 ahead of the European Central Bank meeting scheduled tomorrow. A dismal German factory orders release also weighed on the currency.

GBP/USD could not gain momentum today and is trading at 1.6971 as traders sell off to book profits as the currency bounces off a record high. Technical selling keeps triggering every time the pound gathers a bit of momentum.

AUD/USD gave up 8 points this morning to trade at 0.9340 in sympathy to the decline of the kiwi dollar after the Director of the New Zealand central bank said that he would intervene to reduce the strength of the kiwi

USD/JPY eased to 101.58 dipping 10 points. The US dollar remains weak, but flat in this morning’s session. Therefore the moves have been in the strength of the Japanese yen, as traders remain in risk off mode pushing the strength of the yen.

Gold eased a bit today as traders prepared for Janet Yellen’s testimony due in the later part of the day. Gold is trading at 1303.90 down by $4.70. Tensions in the Ukraine seem to be easing today after violence this past weekend turned up the heat.

Fundamental Analysis May 13
EUR/USD gained 9 points to trade at 1.3765 recovering a few pips after its tumble since Mr. Draghi’s comments on Thursday. The euro-area’s fastest economic growth in three years probably won’t be enough to stop Mario Draghi from easing monetary policy.

USD/JPY gained 14 points heading back to its 2014 trading range around the 102.50 level as tensions in the Ukraine ease after the weekend vote seemed to end a good deal of the violence.

GBP/USD gained 35 points today to trade at 1.6886 as the US dollar eased. Another transition session Monday, with the dollar from little changed to a tad weaker versus major’s competitors and the pound among the best performers ahead of the BoE Quarterly Inflation Report to be released next Wednesday.

AUD/USD is trading at 0.9362 remaining strong even as the US dollar continues to climb back towards the 80 level. The Aussie is trading flat this morning making little of the business confidence release as traders are expecting comments from the RBA about the strength of the AUD.

Gold moved between small gains and losses up by $3 at 1290.90 at this writing. “Precious metals have been extremely quiet this morning, holding tight ranges,” said William Adams, head of research at FastMarkets.com. “The gold price continues to oscillate sideways either side of $1,290 an ounce — for now we would expect more of the same.” Gold could benefit from some technically-driven buying said Robin Bhar, head of metals research at Societe Generale.

EUR/USD picked up 14 focuses today to exchange at 1.3616 after German retail deals missed desires and Italian CPI kept on decliing. Euro zone swelling remained at only 0.7 percent in April and is relied upon to stay at the same level in May. Bank of Italy Governor Visco said the pace with which swelling desires can change implied definitive activity was required to take off any danger of a deflationary winding.

GBP/USD trade at 1.6746 remaining well below its monthly trading range. News printed yesterday revealed that Bank of England policymaker Martin Weale wants interest rates to rise “sooner rather than later”.

AUD/USD eased by 43 points after building approvals tumbled well below expectations. The Aussie was trading just above the 93 level but slid to trade at 0.9267. The price of iron ore dropped 4 per cent ending another tumultuous month for the commodity. Australia’s largest export has now fallen in price for six consecutive months; with Friday’s fall one of the heaviest during that span, even if it doesn’t rate alongside the 8 per cent nosedive seen on March 10. The commodity is at its lowest level since September 2012 and just over 5 per cent above a five-year low.

The USD/JPY continues to weaken after the IMF said that the Bank of Japan needs to stimulate the economy now and the Bank Governor changed his rhetoric ahead of this month’s meeting. The JPY moved back into the 102 level to trade at 102.04 giving up 27 points to the greenback. Japan’s consumer prices rose 3.2 percent in April from a year earlier to the highest level since 1991, the government said Friday. The rise was largely due to the first stage of a two-part sales tax hike that is expected to dent growth this quarter.

Gold continued to decline giving up $3 to trade at 1254.10 as global tensions ease, inflation remains tame and the economic crisis seems to be easing into recovery.

Fundamental Analysis june 16
EUR/USD recovered 21 points after German CPI met expectations and French payrolls printed at expectations. The euro is trading at 1.3573. German inflation slowed in May, with prices down 0.9 percent year-on-year, to their lowest since February 2010, the Federal Statistical Office reported on Friday. The decline in energy prices was the major factor behind the drop. Prices fell 0.1 percent in monthly terms.

GBP/USD soared on comments from BoE Governor Carney after he mentioned that interest rates might increase sooner than later. The pound is trying to violate the 1.70 level trading at 1.6974. BoE‘s Carney late yesterday trade a U-turn by saying that a rate hike may come earlier.

AUD/USD eased slightly this morning dropping 6 points to trade at 0.9396 as traders sold off to book profits after last week’s rally. The iron ore price is flirting with the crucial $US90 a ton threshold after inching even lower over the weekend as weakened steel demand in China continued to weigh on the commodity.

USD/JPY continued to decline giving up 11 points to trade at 101.88 as traders shifted to risk off mode as violence escalated in Iraq. Whether geopolitical risks have any currency impact depends on how the situation in Iraq and Ukraine impacts the equity markets, but so far their reaction appears limited.

Gold continued to trade in the green adding 50 cents today to trade at 1274.50 as tensions in Iraq sent traders looking for a bit of safety. Between 2010 and 2013, the number of al Qaeda and al Qaeda-related groups rose 58 percent and the number of “Salafi jihadists” – violent proponents of an extreme form of Islam – more than doubled, according to a report by the RAND Corp think tank. Daniel Benjamin, former U.S. State Department counterterrorism coordinator under President Barack Obama, said he was “considerably more optimistic 18 months ago than … now” about the threat posed by al Qaeda-related groups. Few examples are more vivid than the fall of northern Iraq, which has raised the prospect of the country’s disintegration as a unified state.

Forex Daily Analysis - 18 June 2014

EUR/USD moved by 7 focuses on astonishing information from Germany. The pair exchanged at 1.3566 after German ZEW monetary opinion tumbled indicating concerns after the ECB included its huge weapons a couple of weeks prior. The dollar edged higher, however was kept to a thin run by alert in front of this present week’s U.s. Central bank gathering and worry about raising viciousness in Iraq.

GBP/USD eased by 4 points after the release of inflation data today. The pound is trading at 1.6980 after CPI and PPI both printed below forecast. The Pound immediately weakened against the majors this morning, dropping from a 19 month high against the Euro and close to a 5-year high versus the U.S Dollar.

AUD/USD took a fall this morning after dovish comments from the RBA minutes release. The Aussie gave up 45 points to trade at 0.9355. The Aussie dropped 0.4 percent to 93.66 U.S. cents as of 11:12 a.m. in Tokyo. It rose to 94.38 on June 12, approaching this year’s high of 94.61 The AUD dropped after the Reserve Bank reiterated it expects to keep its benchmark at a record low and a report that investment into China unexpectedly declined.

USD/JPY gained 19 points to trade at 102.03 as traders showed disappointment in Prime Minister Abe’s revised “Arrow Three” plans. Traders also are keeping an eye on escalating violence in Iraq as the US prepares for a meeting with Iran. Prime Minister Shinzo Abe’s team on Monday unveiled more policies aimed at cheering companies and investors, including a plan to reduce corporate taxes, with the aim of raising share prices at home.

Gold continued to ease throughout the day giving up $10.50 to trade at 1264.80. Gold price fell further from a three-week high as investors withdrew money from the top bullion fund at the fastest pace in two months and as markets nervously waited for a Federal Reserve meeting this week.

Fundamentals analysis 23 July

EUR/USD surrendered 40 focuses today to exchange at 1.3484 as the US dollar profited from the place of refuge disposition of the business sectors on any expectations of a stronger recuperation in the US while Eurozone viewpoints get to be troubling as issues mounted in the Ukraine. Indeed with the European Central Bank’s remarkable simple approach including the as of late uncovered extraordinary negative store rates, close zero premium rates and a new adjust of ease advances to pump up loaning the saving money framework is delicate.

GBP/USD eased as traders moved to the US dollar for safety giving up 9 points to trade at 1.7068. The dollar index rose to a six-week high on Tuesday, buoyed by its gains against the euro as speculators bet on a robust inflation reading in the United States

AUD/USD gained 12 points this morning as global tensions eased a bit in the morning. The Aussie is trading at 0.9386. Reserve Bank of Australia (RBA) Governor Glenn Stevens said quantitative easing had clearly worked to lower borrowing costs across the globe, but it was not clear that this had led to much higher business investment.

USD/JPY gained 7 points to trade at 101.47 as global tensions eased a bit. Japan is unlikely to meet its international commitment to achieve a government budget surplus by fiscal 2020, even if it proceeds with another consumption tax increase, sources said Saturday. New U.S. dollar-denominated funds sold to Japanese retail investors have attracted 39% of almost ¥1 trillion, or $9.7 billion, of inflows from May 2013 to June this year, reports Ben McLannahan for Financial Times.

Gold reacted in the reverse of expectations falling 7.00 to trade at 1306.90 as traders moved into the US dollar as the alternative for safety. Prices gained around 0.1 percent and rose above $1,300 an ounce on Monday as U.S. equities slipped and political tensions intensified after the shooting down of a passenger plane in eastern Ukraine last week and incessant fighting in Gaza. Bullion rebounded after last week’s two-percent drop, as investors took profits after Thursday’s strong rally when a Malaysian airliner over Ukraine was shot down and Israel launched a massive ground offensive into Gaza against Hamas militants.

Fundamental Analysis July 24
EUR/USD is down a point at 1.3464 after brokers stress over the financial soundness of the eurozone. The euro touched multi-month lows against the dollar today as speculators worry about the effect on the eurozone economy of conceivable new endorses against Russia after the bringing down of Flight Mh17

GBP/USD tumbled by 21 points to trade at 1.7044 after BBA mortgages missed expectations. Sterling pared gains against the dollar and the euro on Wednesday while gilt futures rose after minutes from this month’s Bank of England policy meeting were not as hawkish as some in the market had anticipated.

AUD/USD is moving between small losses and gains as the strong US dollar weighs on the commodity currency but strong data from China seems to be keeping this in balance as the pair trades at 0.9456. The Aussie climbed this week from below the 94 level and has been able to sustain its strength after the RBA avoided mentioning the strength of the currency in recent public statements.

USD/JPY gained 4 points to trade at 101.53 as the US dollar continues to climb and the JPY eased after the release of trade balance numbers. Japan’s trade deficit ballooned to a record in the first half of the year as exports fell further in June, data showed Thursday, ramping up pressure on the central bank to unveil fresh measures to boost the economy.

Gold has been trading with little momentum today gaining $2.50 to trade at 1308.80. Geopolitical concerns eased somewhat while traders continued to consider the impact of potentially tighter economic sanctions against Russia for its support of Ukrainian rebel militias accused of shooting down a Malaysian airliner last week.