Forex News: Tokyo Commodities, EUR/USD, Aussie

Tokyo Commodities trades in green zone
The Tokyo Commodity Exchange has announced that it has traded nearly 120,650 contracts per day during the month of September. That is a 55.4 percent increased when compared to August. Trading in Gold, the most active product at the exchange, was up 67.8% to 58,241 contracts. New stimulus plans coming from the Japanese central bank and the Federal Reserve may have improve the psychology of the market.

EUR/USD loses 0.6%
The euro lost 0.6 percent against the US dollar as a consequence of the International Monetary Fund’s forecasts for the world growth, which has declined. It also reached a 6-day low of 1.2857 where it found support at the 200-day EMA before closing the North American session with a second daily loss at 1.2885 as in the far East it has hold flat at 1.2880.
Australian dollar drops after downgrades on global markets
As a result of the downgrade in global markets done by the IMF, the Australian dollar has dropped for a second consecutive day. The Australian currency lost 0.2 percent to $1.0187 at 11:21 a.m. in Sydney this Wednesday. According to estimates, the Reserve Bank of Australia will lower interest rates next month to help spur growth in the labor market. Demand for the so-called Aussie was supported after prices for iron ore, Australia’s biggest export, surged to a two-month record. “The basic outlook is that employment growth remains weak,” said Greg Gibbs, a senior currency strategist at Royal Bank of Scotland Group Plc in Singapore told Blomberg’s Business Week.

Peyman Khosravani

Industry Expert & Contributor

Peyman Khosravani is a global blockchain and digital transformation expert with a passion for marketing, futuristic ideas, analytics insights, startup businesses, and effective communications. He has extensive experience in blockchain and DeFi projects and is committed to using technology to bring justice and fairness to society and promote freedom. Peyman has worked with international organisations to improve digital transformation strategies and data-gathering strategies that help identify customer touchpoints and sources of data that tell the story of what is happening. With his expertise in blockchain, digital transformation, marketing, analytics insights, startup businesses, and effective communications, Peyman is dedicated to helping businesses succeed in the digital age. He believes that technology can be used as a tool for positive change in the world.