With the Best Performance

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freemexy

Age: 2021
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Recently the global stock markets soars with irresistible force, the Chinese and US stock market in particular. And driven by new economy,
the Nasdak Composite Index hit record high many times, and it closed at
10,492.50 on July 8, another record close high.To get more news about WikiFX you can visit wikifx official website.

This decreased the pressure on USDs liquidity from the market and
weakened the safe haven function of USD, putting continuous pressure on
the US dollar index. In the short term, the index is more likely to test
the low level of 95.716 recorded in May. If it fails to break the
level, the index may challenge the low level of 94.650 happened on March
9.


Faced with a weakening US dollar index, non US dollar currencies
bounced back in varying degrees. From a perspective in Macro trend, the
Swiss Franc has the best year-to-date performance, up about 3.5% again
the USD, ranking the first among all currencies. And safe haven Japanese
yen ranks the third, up 1.34% this year, second only

The Swiss Franc performed extremely well because of the relatively
stable situation of COVID-19 and better economic data in Switzerland
compared with that of other European countries. Therefore, forex traders
preferred the Swiss Franc to USD as a safe haven. And market estimates
that the Swiss Franc will keep maintaining an edge in the second half of
this year. In the short run, USD/CHF appears to approach the low level
of 0.9181 of March or the low level of 0.9071 recorded in 2015.

It is estimated that cautiously optimism pervades the future Japanese
yen market, another safe haven. Recent USD/JPY basically fluctuates at
the range of 108.16-106.00, being approaching the level of 106.00. And
it is likely to break the level and challenge again the major support
level of 104.45.

Posted 02 Sep 2020

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