To give some perspective on how the Forex market is currently performing, this article will report on 4 different currency pairs, a major currency pair, a minor currency pair, a volatile currency pair and another major pair.
The major currency pair is the EUR/USD:
Since the market opened this morning the Euro hit a high of 1.09471, this means it costs traders 1.09471 USD to buy 1 Euro. This figure beats Fridays's market closing. The Euro held its position in spite of the fact that the far right did not win the first round of the elections in French votes, this position was helped by the rising U.S. Yields.
Stronger Euro - EUR/GBP:
Since market opening, the GBP is at 0.8377. This means it costs traders 0.8377 GBP to buy 1 Euro. The EUR/GBP relationship is bearish. Despite this bearish relationship, the Euro has slightly strengthened over the weekend.
EUR To GBP Chart
Since market opening, the AUD reached a high of 1.75442, this means that it costs 1,75443 AUD to buy 1 GBP. The relationship between these 2 currencies is considered volatile due to the fact that the AUD is a commodity currency (the price of AUD is linked to the value of Australian exports). Therefore, since the start of the trade war between the US and China, currency pairs that contain AUD have increased in Volatility.
GBP To AUD Chart
Rushing 10-year treasury yield - USD/JPY:
The relationship between these 2 currencies is currently bullish. Since market opening, the JPY reached a high of 125.444, which means that it costs 125.444 JPY to buy 1 USD, the weakening Yen is as a result of the 10 year treasury yield rushing 77bps reaching 2.77%.