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7 Jan 2015
Market Movers: Yen strengthens as a safe-haven currency
FXStreet (Barcelona) - The oil plunge kept the market sentiments mixed during the Asian session. Growing concerns in financial markets due to the oil fall has aided Yen strength as investors throng towards the safe-haven currency. US indices saw another negative close, with Dow down 130.34 points. Shanghai Composite Index is up 0.67% at 3373.95 while Nikkei is at 16558.33, just below yesterday’s close. FX markets remained generally muted as markets await the Eurozone CPI data.
WTI Crude is well below the crucial $50 handle, down 0.90% at USD 47.24/barrel, while Brent is down 1.15% at USD 51.12/barrel. With equities falling, Gold has seen a positive demand with investors aiding an above $1200 climb, with Gold futures currently trading at USD 1214.90/Oz (-0.18%).
The majors largely remained muted, with the Dollar/Yen pair being an exception. At the time of writing, USD/JPY trades just above the 119 handle, up 0.44% at 119.08, recovering after making a low at 118.391. EUR/USD continued to slide to trade below 1.19 levels at 1.1886 (+0.07%) after making a intraday low of 1.1841. GBP/USD is down 2.63% for the week, currently at 1.1548. AUD/USD trades near the 0.80 handle, down 0.15% at 0.8068 levels, while NZD/USD is up 0.08% at 0.7757.
The top FX gainers are EUR/NOK (+0.66%), ZAR/JPY (0.59%) and NZD/JPY (0.52%), while USD/PLN (-0.31%), USD/ZAR (-0.26%) and AUD/NZD at 1.0404 (-0.26%) are the top losers.
WTI Crude is well below the crucial $50 handle, down 0.90% at USD 47.24/barrel, while Brent is down 1.15% at USD 51.12/barrel. With equities falling, Gold has seen a positive demand with investors aiding an above $1200 climb, with Gold futures currently trading at USD 1214.90/Oz (-0.18%).
The majors largely remained muted, with the Dollar/Yen pair being an exception. At the time of writing, USD/JPY trades just above the 119 handle, up 0.44% at 119.08, recovering after making a low at 118.391. EUR/USD continued to slide to trade below 1.19 levels at 1.1886 (+0.07%) after making a intraday low of 1.1841. GBP/USD is down 2.63% for the week, currently at 1.1548. AUD/USD trades near the 0.80 handle, down 0.15% at 0.8068 levels, while NZD/USD is up 0.08% at 0.7757.
The top FX gainers are EUR/NOK (+0.66%), ZAR/JPY (0.59%) and NZD/JPY (0.52%), while USD/PLN (-0.31%), USD/ZAR (-0.26%) and AUD/NZD at 1.0404 (-0.26%) are the top losers.