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In this article on Friday we will analyze the situation of the FOREX market, taking into consideration the main news. The South African rand (ZAR) is one of the main currencies sold on the markets, after US President Trump tweeted harshly over the current government government, which would appear to be expropriating the land of many white-skinned farmers.
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The tweet sparked rumors about possible sanctions to be imposed on the African country in the near future.
The yen (JPY) is another currency under pressure after inflation data in the Land of the Rising Sun proved disappointing. Expectations on the last CPI figure, the Consumer Price Index, were 0.9% annualized, while the actual figure was 0.8%. What is even more worrying is that consumption is still stagnant regime, with a recovery in prices caused only by the rise in energy costs.
Probably the Bank of Japan will have to continue to maintain its policy of buying bonds intact for a long time, weakening the national currency. The Australian dollar (AUD) recovers some of the losses of recent days, due to political instability caused by the resignation of the incumbent Prime Minister Turnbull and the promotion in his place of Morrison. This currency, however, remains among the worst since the beginning of the year among the top 10 in the world.
Finally, we close with the euro (EUR) that continues to flirt with 1.16. The newfound strength of the single currency is due to good data from Germany, where GDP grows more than the best expectations due to internal demand. The growth was 0.5% on a sequential basis, which suggests an expansion of 2.3% on an annual basis. The public debt is expected to contract again this year and house prices, due to the ECB's low interest rates, are exploding. Finally, the US dollar (USD) is still weak due to the political problems of Trump and new non-encouraging surveys for the current president.
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Source: IQOption blog 2018-08-25 15:44:42
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