Forex Connect: Risk Appetite Rising- Forex Impact - Mar 9 10 16:39 EST
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Forex Connect: Risk Appetite Rising- Forex Impact
The pick-up in demand for higher yielding assets is helping to support the USD JPY, says Brewer Futures Group. Catch Brewer Futures, and TheLFB trade team on ForexTV Live.
Firmer U.S. equity markets were triggering renewed demand for risk at the mid-session. This is helping to weaken the Dollar while fueling a rally in the higher yielding Australian Dollar and New Zealand Dollar.
The EUR USD is also gaining strength on renewed talk of a possible bailout of Greece by the European Union. Without any major economic reports to guide it, the Euro remains sensitive to any news regarding Greece.
Short-covering triggered by the weakening Dollar is helping to boost the GBP USD off its lows. Although this market is up off the low, the fundamentals continue to remain weak.
The pick-up in demand for higher yielding assets is helping to support the USD JPY. The firming Euro is helping the USD CHF erase earlier gains. The better the Euro, the less chance of an intervention by the Swiss National Bank.
Demand of higher yielding assets helped turnaround the AUD USD and NZD USD after earlier weakness. Falling gold and crude oil prices weakened the Canadian Dollar, but the turnaround in both of these markets is pressuring the USD CAD.
Traders should watch for a strong surge in U.S. equity markets to trigger a break in the U.S. Dollar.
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