Showing category "World Forex News" (Show all posts)
The euro rose against the dollar on Monday after Dubai's announcement it had received help from Abu Dhabi to repay its debts warmed risk appetite.
The dollar weakened broadly on news that Abu Dhabi would bail out its debt-laden neighbour with $10 billion in aid, which initially triggered selling in the yen as it eased worries about a possible debt default by Dubai.
Analysts said the euro benefited from the bailout announcement, but said further significant gains may be capped as traders wer... Continue reading ...
On Monday, Standard & Poor's said it may downgrade its rating on Greece's national debt amid mounting concerns about the governments ability to bring public finances under control.
The report weighed somewhat on the 16-nation euro, which bought $1.4803 Tuesday compared with $1.4823 late Monday in New York.
The British pound also fell to $1.6332 compared with $1.6439, while the dollar slipped to 88.94 Japanese yen from 89.48 yen late Monday in New York.
In the U.S., meanwhile, Federal Re... Continue reading ...
European cash and U.S. futures markets are extending the selloff started during the past week of trading. The reason behind this selloff is rather strange -- the better-than-expected nonfarms payroll data seen on Friday has raised expectations for a move on interest rates from the Federal Reserve, thus helping the U.S. dollar strengthen.
The strength of the U.S. dollar had an important influence in the commodity markets, where raw materials plunged at an impressive speed in Friday and Monda... Continue reading ...
The abysmal news continues to haunt the UK economy, downbeat news carry on form the economy opposed to neighboring regions. The manufacturing sector's performance took a beating in November where the CIPS Manufacturing PMI declined to 51.8 following 53.7 in October, the index trailed estimates for further improvement to 54.0. Continue reading ...
U.S. stock index futures were little changed on Tuesday, following a strong advance in Monday's session and after Hewlett-Packard reported that quarterly profit matched its preliminary results.
* Investors have been closely watching the technology sector, which is generally considered one of the first to recover from recession.
* Hewlett-Packard Co (HPQ.N), the computer and printer maker, said late Monday the economy remained challenging, but sees signs of recovery. The last Dow component t... Continue reading ...
U.S. stock index futures rose about 1 percent on Monday, looking to snap a three-session losing streak as commodity and natural resource stocks gained on a falling U.S. dollar.
James Bullard, the St. Louis Federal Reserve president, said Sunday the central bank should extend its mortgage-related assets purchase program to give policy-makers more flexibility as they help the economy recover from a painful recession.
The U.S. dollar index .DXY dropped 0.8 percent on Monday, while January cr... Continue reading ...
The European currency slumped Friday as waning confidence about the global economic outlook prompted investors to seek refuge in the U.S dollar and Yen. The EUR slipped to below $1.49 down 1% from yesterday. The EUR was also down 0.3% at 132.31 yen after dipping close to its 200-day moving average at 132.13.
A drop in demand for risk triggered an overnight sell-off in global equity markets as well as in oil, gold and other commodities. Declines by oil and gold reinforced support for the low... Continue reading ...
The Dollar continued to weaken versus most majors as carry trade and risk appetite remained the main source for the Dollar's weakness. The Widening deficit in the Trade Balance and an unexpected drop in Michigan's Consumer Sentiment worried investors about the recovery but gains in stocks left risk appetite strong. NASDAQ and Dow Jones gained by 2.62% and 2.46% respectively. Crude Oil declined by -0.98% the past week closing at 76.35$ a barrel after probably making a false break below 76$. Go... Continue reading ...
09:10 GMT: Gold hit another high on Wednesday but stock markets struggled to gain momentum as the dollar resumed its slide.
Bullion struck a new peak of $1,146.95, though it later traded up 0.3 per cent at $1,145.35 an ounce. It had advanced strongly late on Tuesday despite the dollar also gaining ground. The move challenged recent market convention that a weak dollar was good for riskier assets and vice versa.
However, in early trade on Wednesday, the dollar reverted to recent type, losin... Continue reading ...
The global risky-asset rally was suffering a hangover on Tuesday following the exuberance of the previous session.
After hitting new highs for the year on Monday, European bourses opened lower, mimicking Asian stocks’ slide into the red, as commodity prices pulled back on a firmer dollar.
The FTSE 100 in London fell 0.3 per cent from its 13-month closing high to trade at 5358.5. The FTSE Eurofirst 300 was flat at 1034.1, with banks and real estate stocks struggling.
US equity indices h... Continue reading ...
he Dollar continued to weaken versus most majors as carry trade and risk appetite remained the main source for the Dollar's weakness. The Widening deficit in the Trade Balance and an unexpected drop in Michigan's Consumer Sentiment worried investors about the recovery but gains in stocks left risk appetite strong. NASDAQ and Dow Jones gained by 2.62% and 2.46% respectively. Crude Oil declined by -0.98% the past week closing at 76.35$ a barrel after probably making a false break below 76$. Gol... Continue reading ...
USD - A Week Packed With Economical Data Expected
During last week's session the Dollar managed to recover against most of the major currencies. The Dollar saw a 300 pips rise against the Euro, and the EUR/USD pair is trade near the 1.47 level. However, the Dollar continued to weaken against the Japanese yen.
The Dollar's recovery appears to be mainly psychologically. Last week did not provide sustain data showing that should have supported the Dollar. It seems to be that the fact that the EU... Continue reading ...
The US Dollar extended gains against the EUR after a report showed an unexpected fall in U.S. new home sales for September. The data offset solid durables goods numbers and stoked fear the rally in risky assets in recent months has run ahead of fundamentals. As a result, the USD finished yesterday's trading session 100 pips higher against the EUR at the1.4716 level. The greenback also saw bullishness against the CHF and closed at 1.0260. Yesterday, government reports showed that U.S. new home ... Continue reading ...
The Euro fell against the Dollar for a second session in a row on Tuesday, as investors retreated from the risk and embraced safer assets such as US Treasurys. Unexpectedly weak US confidence data intensifies the risk-averse mood of investors who also worried about the posibility the US Federal Reserve could signal an eventual end to its stimulitive policy stance at its policy-setting meeting next week, The same aversion to risk that pulverised the Euro resulted in the Dollar ceding some terr... Continue reading ...
The dollar bounced up strongly from an overnight 14-month low against the euro Monday, as slipping US stocks and battered commodities sapped risk appetite across markets, lending support to thr safe-haven USD. The Euro surrendered the psychologocally importnat $1.50 level, sinking to its lowest level in a week against the dollar in afternoon New York trading. After commodities and higher-yielding currencies notched higher over the past week- many to 12 month records or better-the market was r... Continue reading ...
The dollar carved out moderate gains against the euro and hit one-month highs against the yen Friday, as global risk appetite shriveled in the face of weaker stock markets. News of a surprise contraction in UK economic groth also damaged sentiment by cutting into optimism about the global economic recovery prospects, resulting in a sharp selloff for the pound aand leaving it as the major underperformer on the day. Late Friday, the Euro was at $1.4998 from $1.5031 late Thursday, according to E... Continue reading ...
The dollar ended broadly lower Wednesday in New York as sustained equity market strength drove the Dow Jones Industrial Average above the 10,000 mark and of continued dovish monetary policy in the US weighed on the greenback, The Euro and other risk sensitive currencies rallied in early morning trading, stalled for a perios as equity markets wobbled, and then rallied in afternoon trading again, They strengthened modestly in the early afternoon when the DJIA initially breached the 10,000 level... Continue reading ...
The Euro continued its run against the dollar Tuesday in NY, hitting a one-year high in early trading, before giving back some of theose gains on wavering US stocks and profit-taking. Yield-seeking investors ignored worse than expected euro economic data and seesawing US stocks to propel the better-returning euro toward $1.50. Newtons Law fully applies right now: the dollar will continue to fall unless it has a good reason not to! The dollar's ultra-low interest rates make it attractive for i... Continue reading ...
The Euro advanced against the dollar on Monday in NY, but fell off its earlier highs as the common currency tracked seesawing US equities. Subdued trading because of the holidays in Japan, the US and Canada kept most currencies within tight ranges even as rising risk appetite led investors to bid the $1.48 for part of the day and sent the Canadian dollar to a fresh 13-month high. With no econimic data on Monday's calendar, currencies took their cues from stocks, with strenghtening equites lea... Continue reading ...
The dollar rebounded against most widely traded currencies on Friday in New York, Rising on a combination of more positive US economic signals and some end-of-the-week profit taking on gains logged over the past several sessions against the US currency. The dollar's comeback began overnight on the back of the comments by Ben Bernanke lateon Thursday regarding the the eventual tightening os US monetary policy, and then accelarated in in North American trading following a better than forecast r... Continue reading ...
The dollar declined broadly on Thursday and better-than-expected global economic data and rising equities teamed up to dent the greenback. The Euro ended up on the day but was off its session highs as it tracked US equities. The commom currency hit a session peak early in New York after European Central Bank President Jean-Claude Trichet said at the ECB's rate selling meeting Thursday that the excessive currency volatility in negative for both the economy and financial stability. and that US ... Continue reading ...
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