Macro Ticker
2 weeks ago

FX Daily: May 28, 2024 - Currency Movements Signal Mixed Trends

Daily update from the foreign exchange market.

Brazilian Real (BRL) Gains Against USD

The Brazilian Real (BRL) experienced a slight uptick against the US Dollar (USD). The exchange rate moved to 0.1941, marking an increase of 0.00079 or 0.41%. This rise can be attributed to positive economic indicators emerging from Brazil, including stronger commodity prices and improved investor sentiment.

Chinese Yuan (CNY) Marginally Stronger Against Japanese Yen (JPY)

The Chinese Yuan (CNY) also saw a modest increase against the Japanese Yen (JPY). The exchange rate stood at 21.6667, up by 0.0096 or 0.044%. This gain is likely due to recent economic policies in China aimed at stabilizing growth and supporting domestic industries.

Chinese Yuan (CNY) vs US Dollar (USD) Stays Stable

Against the US Dollar (USD), the Chinese Yuan (CNY) remained relatively stable. The exchange rate edged up to 0.1381, a minimal increase of 0.000021 or 0.015%. This minor change reflects the ongoing balance between US and Chinese economic policies, with both currencies showing resilience.

Euro (EUR) Drops Against Swiss Franc (CHF)

In contrast, the Euro (EUR) weakened against the Swiss Franc (CHF). The exchange rate dropped to 0.9901, down by 0.0019 or 0.19%. This decline suggests increased demand for the Swiss Franc as a safe-haven currency amidst global economic uncertainties.

Euro (EUR) Gains Slightly Against Chinese Yuan (CNY)

The Euro (EUR) showed a slight improvement against the Chinese Yuan (CNY). The exchange rate increased to 7.8696, up by 0.0041 or 0.052%. This uptick reflects the Eurozone's stable economic outlook compared to China's recent market fluctuations.

Euro (EUR) vs US Dollar (USD) Sees Modest Increase

The Euro (EUR) also gained marginally against the US Dollar (USD). The exchange rate moved to 1.0867, an increase of 0.00057 or 0.052%. This movement indicates growing confidence in the Eurozone's economic recovery and relative stability.

British Pound (GBP) Slightly Up Against US Dollar (USD)

The British Pound (GBP) experienced a modest increase against the US Dollar (USD). The exchange rate rose to 1.2777, up by 0.00061 or 0.048%. This rise could be linked to positive economic data from the UK, boosting investor confidence in the Pound.

Japanese Yen (JPY) Weakens Marginally Against US Dollar (USD)

Lastly, the Japanese Yen (JPY) saw a slight decline against the US Dollar (USD). The exchange rate dropped to 0.0064, a decrease of 0.0000016 or 0.025%. This minor weakening of the Yen may be due to Japan's ongoing economic challenges and a stronger USD.


The information provided by this Site is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.

More News

5 hours ago Federal Reserve Sees Progress on Inflation, Adjusts Rate Cut Expectations The Federal Reserve has adjusted its forecast for rate cuts this year, citing persistent inflation despite recent progress. High borrowing costs are expected to linger, impacting consumers and the broader economy.
6 hours ago Bitcoin Holds Steady as Fed Maintains Interest Rates: A Sign of Economic Caution In a cautious move, the U.S. Federal Reserve opted to keep interest rates unchanged, causing Bitcoin to hold its ground. Read more about the economic implications and market responses here: "The Committee judges that the risks to achieving its employment and inflation goals have moved toward better balance over the past year."
9 hours ago High-Stakes Showdown: Tesla Shareholders Decide on Elon Musk’s $56B Pay Package Tesla shareholders are set to cast their votes on Elon Musk's controversial $56 billion compensation package, a decision that could have far-reaching consequences for the company.
13 hours ago USDMXN: A Golden Opportunity USDMXN: A Golden Opportunity Amid Mexican Election Sell-Off, Says Steno Research Analyst
1 day ago EU's New Tariffs on Chinese EVs Hit Tesla and BYD Stocks! Tesla (TSLA) and BYD (1211) Stocks Plummet After EU Tariff Announcement
1 day ago Macro Mondays: Escaping the TRAP of Sideways Markets Andreas Steno, Mikkel Rosenvold And Mads Eberhardt talk macro and crypto
1 day ago EU launches trade war with China In a bold move that has sent ripples through global markets, the European Union has effectively launched a trade war against China. This decision, announced just three days after the European Parliament elections, raises significant questions about the influence and timing of the EU’s legislative body.
1 day ago July Bloodbath: Metals Set for Major Crash? Brace yourselves for a tumultuous July in the metals market! Industry experts are sounding the alarm as cluster risks in metals like gold, silver, and copper threaten a significant downturn. Here's why July could spell disaster for metal investors.
1 day ago 5 Stories To Invest in for Emerging Markets 5 Stories that might interest you if you're into investing in Emerging Markets