starbaileybag is a good bag customed making supplier, I am very satisfied
I'm Online Chat Now
Euro May Fall as Risk Appetite Firms on Dovish ECB
Aussie Dollar Drops, Yen Gains as China Cash Injection Stunts Risk Appetite
Euro May Fall as Sentiment Firms if ECB Hints at Stimulus Expansion Ahead
Gauge Trends and Spot Reversals in the Major Currencies with DailyFX SSI
A late-day recovery on Wall Street inspired a chipper mood in early Asian trade, with the sentiment-linked Australian, Canadian and New Zealand Dollars trading higher alongside share prices while the anti-risk Japanese Yen underperformed. The upbeat tone appears to be fading however. Shares have started to retreat and currencies are following suit, with the commodity bloc trimming gains and the Yen recovering to trade barely changed on the session having been down as much as 0.5 percent.
The turn in sentiment appears to have followed news that China injected CNY400 billion (US$60 billion) into the market via reverse repo operations. That amounts to the largest liquidity outlay in three years. In recent months, Chinese monetary stimulus efforts have been frequently met with a risk-averse response. Rather than bolstering optimism, investors appear to be interpreting Beijing’s efforts as a sign that officials are becoming increasingly worried and resorting to ever more dramatic countermeasures.
Looking ahead, the ECB monetary policy announcement is in the spotlight. The central bank is expected to stay the course for now. December’s disappointing CPI figures are likely to mean that President Mario Draghi will have to field questions about stimulus expansion at the press conference following officials’ meeting. Comments suggesting greater easing is likely in the near term may breathe new life into risky assets, sending the higher-yielding currencies upward while weighing on the Euro. Rhetoric signaling a lack of urgency in offering further accommodation is likely to trigger the opposite dynamic.