Monday Forex Traders Money Market Update. 15th April 2019

The Euro rallied strongly on Friday on the back of rumours a Japanese company had received approval from a foreign bank to purchase a major European aviation finance business. Details of the deal are sketchy but if the deal proceeds it would be a positive sign business confidence is returning to the Euro Area.

The Euro had a positive week last week rallying off its March lows thanks to risk sentiment returning which has seen stocks rise sharply and safe haven demand for currencies such as the Yen and Swiss Franc fade. The US Dollar is also considered to be a safe haven currency and it too was sharply lower against the Aussie and Kiwi Dollars on Friday. China trade data showed exports strongly rebounded last month and this also helped boost the AUD and NZD against most of their major rivals.

A number of investment bank analysts believe the Euro is cheap at current levels and their expectation is given the markets mood it will likely continue to move higher this week.

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