The EUR/USD picked up 27 focuses today as eurozone Pmis demonstrated improvement over needed and German employments information reported a change with unemployment ticking down. The euro is exchanging at 1.3798. the euro EURUSD +0.27% was pushing higher against the dollar, creeping ever closer to that $1.38 level after information indicated the euro-zone fabricating PMI for March was affirmed at 53, easier than 53.2 seen in February. Still, the normal perusing for the first quarter arrived at the best result since the second quarter of 2011.
The GBP/USD eased today giving up 26 points to exchange at 1.6637 after manufacturing PMI dipped below forecast but remained in a positive zone. March UK Markit/CIPS manufacturing PMI printed at 55.3 vs 56.7 expectations the lowest since July 2012
The AUD/USD added 3 points giving back a bit of earlier gains after the RBA announcement. Glenn Steven’s did as expected and held rates and policy. Prior to the release the Aussie was at the 93 price level on stronger than expected Chinese data. The Chinese Governments Purchasing Managers’ Index rose to 50.3 in March, the National Bureau of Statistics and China Federation of Logistics and Purchasing said today. That compared with February’s 50.2 reading and the 50.1 median estimates from analysts in a Bloomberg News survey. Numbers above 50 signal expansion. The Aussie is trading at 0.9268 at this writing.
The USD/JPY continued to decline as the sale tax increase goes into effect today. The JPY eased by 8 pips to trade against the US dollar at 103.30. The yen remained lower against the dollar after Bank of Japan data showed the Tankan index for sentiment among large manufacturers in the nation rose to 17 in the first quarter from 16 in the previous period. The Tankan was weak,” said Ken go Suzuki, chief currency strategist at Mizuho Securities Co. in Tokyo. “Some investors buying the dollar against the yen may take profits as it climbed above 103 in the past few days.” Gold is flat for the day moving between small gains and losses at 1284.80 after falling below the 1280 price on Monday for a few minutes.
Gold prices steadied on Tuesday, recovering early losses, as comments from Federal Reserve Chair Janet Yellen defending easy-money policies hurt the dollar, while a drop to seven-week lows overnight sparked interest from bargain-hunting buyers. The metal fell to a low of $1,278.34 an ounce in Asian trade as stocks rallied on the back of Yellen’s comments, which reassured investors that the bank would maintain monetary support for the U.S. economy.