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AfternoonTitle:
Gold eases towards $1,670/oz as dollar recovers
(Reuters) - Gold eased towards $1,670 an ounce on Friday, pausing in its biggest one-week rally since late February, as the dollar recovered lost ground against the euro on concerns over Spain's financial health and after Chinese growth data missed forecasts.
Spot gold was down 0.1 percent at $1,672.80 an ounce at 7.52 a.m. EDT, while U.S. gold futures for June delivery fell $6.90 an ounce to $1,673.70.
The metal is still on track to rise 2.5 percent this week after a soft U.S. jobs report last Friday stoked expectations for new quantitative easing measures. Ultra-loose U.S. monetary policy was a key driver of record gold prices last year.
However, a rebound in the dollar on Friday took the wind out of the precious metal's sails.
"There has been a steady trickle of positive new stories ...
Title:
Gold dips towards $1,670 per ounce as China data lifts dollar
(Reuters) - Gold prices eased towards $1,670 an ounce on Friday, pausing in their biggest one-week rally since late February, after weaker than expected Chinese growth data lifted the dollar and dented appetite for assets seen as higher risk.
Spot gold was down 0.2 percent at $1,671.20 an ounce at 0912 GMT, while U.S. gold futures for June delivery were down $8.00 an ounce at $1,672.60.
The metal is still on track to rise 2.5 percent this week after a soft U.S. jobs report last Friday stoked expectations for new quantitative easing measures. Ultra-loose U.S. monetary policy was a key driver of record gold prices last year.
However, a rebound in the dollar on Friday took the wind out of the precious metal's sails.
"There has been a steady trickle of positive new stories that seem to ...
Title:
Euro Hits 1-Week High vs. USD
The euro rose to a one-week high against the US dollar during yesterday's trading session, as positive international fundamental data led to an increase in risk taking. Analysts are warning that overall market sentiment is still bearish toward the euro, and any gains made by the currency may be short lived. Today, traders will want to pay attention to data out of the US, including the Core CPI and Prelim UoM Consumer Sentiment figures. With both indicators forecasted to come in above last month's, the greenback could see gains to close out the week.
Economic News
USD - Dollar Continues to Fall vs. Riskier Currencies
The US dollar extended its recent bearish trend during yesterday's trading session, as positive data out of Australia and China led to an increase in risk taking. The EUR/ ...
Title:
EUR Stages Slight Recovery, US Data Set for Today
The euro saw mild upward movement during yesterday's trading session, as gains in stocks drove investors toward riskier assets. That being said, analysts are warning that debt worries in Spain and Portugal still have the potential to negatively impact the common currency in the coming days. Today, a batch of US fundamental data is forecasted to generate market volatility. Traders will want to pay attention to this week's Unemployment Claims as well as the Trade Balance and PPI figures, all scheduled for 12:30 GMT. Positive news may help the USD recoup some of its recent losses.
Economic News
USD - Dollar Extends Losses vs. Riskier Currencies
The US dollar extended losses against its riskier currency rivals during yesterday's session, including the euro and British pound. The EUR/USD was ...
Title:
Euro Builds Up Against Dollar As Stocks, Oil Advance
Markets are on its way to recoup yesterday's losses as traders are charged back with more optimism about a probably available painkiller for Europe's debt crisis while U.S. traders saw a surprisingly good start for the earnings season – kicked off by Alcoa Inc yesterday, and now anticipate the Federal Reserve's latest survey on economic conditions across 12 Federal districts.
The dollar was sold good today in favor for higher-yielding currencies, falling against most of its traded peers accordingly and driving the USDIX which tracks the performance of the greenback against a basket of currencies including the yen, the pound and the Japanese yen, down to 79.72 from 79.83 after recording a high of 79.90 and a low of 79.52.
Gold spot prices were little changed around $1658.90 an ounce this ...
Title:
Shares, oil fall as U.S. jobs data stirs concern
Global stocks and crude oil fell on Monday as investors reacted to the surprisingly sharp slowdown in U.S. jobs growth reported last week, which raised concerns about the strength of the world's largest economy.
Stocks on Wall Street and crude oil futures prices slid about 1 percent on the first trading day after the U.S. Labor Department reported the March jobs data. U.S. equity markets were closed on Friday for the Good Friday holiday.
The government reported that just 120,000 jobs were added in March, far below market expectations for 203,000 new jobs and the smallest increase since October.
Trade was light, as major markets in Europe as well as some markets in Asia, including Australia and Hong Kong, were closed on Monday.
In afternoon trade stocks pared losses, as did crude ...
Title:
Risk Aversion Continues Ahead of Non-Farms Payrolls
The euro continued to slide throughout yesterday's trading session as risk aversion dominated market sentiment. The common currency dropped to a three-week low against both the US dollar and Japanese yen, while the EUR/CHF dropped below 1.2000 during the morning session. Turning to today, all eyes will be on the US Non Farm Employment Change figure, set to be released at 12:30 GMT. Analysts are forecasting that the US added 211K jobs in March, which if true, may lead to additional gains for the greenback today.
Economic News
USD - Non-Farms Data Could Help Boost Greenback
The US dollar continued to advance vs. its riskier currency rivals, like the British pound and euro, yesterday following a poorly received Spanish debt auction earlier this week. The GBP/USD fell over 100 pips during ...
Title:
Euro weakness keeps EUR/CHF close to target levels
Forex Morning Briefing : Euro weakness keeps EUR/CHF close to target levels
What’s new:
Asia: Asian Equities follow US counterparts into negative territory
FOREX: EUR/CHF still close to 1.20 after briefly slipping below yesterday
BoE: Remains on hold no changes to Asset purchases target
Rates in Asia and Indices:
EURUSD: 1.3053 – 1.3078.
USDCHF: 0.9187 – 0.9206.
GBPUSD: 1.5822 - 1.5866.
EURJPY: 107.29 – 107.66.
USDJPY: 82.16– 82.40.
DowJones: 13’060.14 -0.11%
NASDAQ: 3'080.50 +0.4%
S & P 500: 1'398.08 -0.06%
Nikkei: 9’688.45 -0.81%
Shanghai: 2'300.64 -0.07%
Gold: $ 1'630.10
Crude Oil: $ 103.31
Comments:
Markets remain hesitant; after the Fed’s minutes earlier this week caused investors to rethink about the likelihood of further QE from the US Central bank. In the US, major equity ...
Title:
Fed mulls Maiden Lane III asset sales
(Reuters) - The Federal Reserve is considering possible sales of assets from its Maiden Lane III portfolio, which was created during the bailout of insurer American International Group (AIG) (AIG.N), a New York Federal Reserve spokesman said on Wednesday.
Maiden Lane III grew out of the purchase of $29.3 billion in collateralized debt obligations from certain counterparties to an AIG unit.
Back in February, the Fed completed the sale of all the remaining securities from its Maiden Lane II portfolio, which had $20.5 billion worth of risky mortgage bonds owned by several AIG insurance subsidiaries.
"The change in the investment objective for ML III reflects a strategic decision to explore possible sales of some of the assets in the portfolio in light of improving market conditions and the ...
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