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Euro to Taiwan New Dollar (EUR/TWD) Exchange Rate Trends within a Tight Range as Greek MPs Vote on Second Reforms Package
Published: 22 Jul at 10 AM Tags: Euro Exchange Rate, Dollar Exchange Rate, Currency Exchange, Forex, Euro Crisis, Exchange Rates,
The Euro to Taiwan New Dollar was trending within a limited range on Wednesday morning.
Having strengthened versus its major peers over the past few days amid easing tensions in Greece, the shared currency edged lower against its currency rivals on Wednesday morning. The depreciation, albeit fractional, is the result of fears regarding the Greek MPs vote on the second package of reforms to unlock financial aid. Should Greek officials protest top any of the measures at this stage, it could make forthcoming negotiations tricky. This would reinvigorate uncertainties which would ultimately lead to significant Euro depreciation.
In addition to uncertainties surrounding Greece, the single currency also declined as trader focus shifts towards monetary policy. Given that the European Central Bank (ECB) has only comparatively recently cut the benchmark interest rate, and with President Marion Draghi’s assertions that the full program of quantitative easing is necessary, the Frankfurt-based central bank is lagging behind other major central banks.
The Euro to Taiwan New Dollar (EUR/TWD) exchange rate is currently trending in the region of 34.1329.
In general, the Taiwan New Dollar is trading bearishly versus its currency competitors amid political uncertainties surrounding the presidential election. With the campaign in its infancy, there is no clear front-runner at this stage. Two women, Hung Hsiu-chu and Tsai Ing-wen, have taken the helm for the two main political parties.
Aiding the New Dollar’s downtrend on Wednesday was June’s Unemployment Rate which rose despite predictions of slight reduction. Unemployment was forecast to decline from 3.75% to 3.7%, but the actual result edged higher to 3.76%. Directorate General of Budget Accounting & Statistics (DGBAS) stated; ‘The unemployment rate in June 2015 was 3.71 percent, an increase of 0.09 percentage points from the previous month, besides, the seasonally adjusted unemployment rate also slightly increased by 0.01 percentage points to 3.76 percent in June 2015. The number of unemployed persons was 431,000 in June 2015, which increased by 11,000(+2.63%) from the previous month, in contrast, it decreased by 20,000(-4.47%) from that of the previous year.’
The Euro to Taiwan New Dollar (EUR/TWD) exchange rate was trending within the range of 34.0822 to 34.2342 during Wednesday’s European session.
Having strengthened versus its major peers over the past few days amid easing tensions in Greece, the shared currency edged lower against its currency rivals on Wednesday morning. The depreciation, albeit fractional, is the result of fears regarding the Greek MPs vote on the second package of reforms to unlock financial aid. Should Greek officials protest top any of the measures at this stage, it could make forthcoming negotiations tricky. This would reinvigorate uncertainties which would ultimately lead to significant Euro depreciation.
In addition to uncertainties surrounding Greece, the single currency also declined as trader focus shifts towards monetary policy. Given that the European Central Bank (ECB) has only comparatively recently cut the benchmark interest rate, and with President Marion Draghi’s assertions that the full program of quantitative easing is necessary, the Frankfurt-based central bank is lagging behind other major central banks.
The Euro to Taiwan New Dollar (EUR/TWD) exchange rate is currently trending in the region of 34.1329.
In general, the Taiwan New Dollar is trading bearishly versus its currency competitors amid political uncertainties surrounding the presidential election. With the campaign in its infancy, there is no clear front-runner at this stage. Two women, Hung Hsiu-chu and Tsai Ing-wen, have taken the helm for the two main political parties.
Aiding the New Dollar’s downtrend on Wednesday was June’s Unemployment Rate which rose despite predictions of slight reduction. Unemployment was forecast to decline from 3.75% to 3.7%, but the actual result edged higher to 3.76%. Directorate General of Budget Accounting & Statistics (DGBAS) stated; ‘The unemployment rate in June 2015 was 3.71 percent, an increase of 0.09 percentage points from the previous month, besides, the seasonally adjusted unemployment rate also slightly increased by 0.01 percentage points to 3.76 percent in June 2015. The number of unemployed persons was 431,000 in June 2015, which increased by 11,000(+2.63%) from the previous month, in contrast, it decreased by 20,000(-4.47%) from that of the previous year.’
The Euro to Taiwan New Dollar (EUR/TWD) exchange rate was trending within the range of 34.0822 to 34.2342 during Wednesday’s European session.
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Source: moneytransfer.co.uk