Against The Us Dollar In Rangebound

The Week Ahead Highlights Europe steps closer to the cliff edge Can the USD extend its rally? Bank of Japan may extend maturity of its bond buys Pricing in more QE from the Bank of England Europe steps closer to the cliff edge It was a pivotal week for the Eurozone after Greece announced that it was heading back to the polls after the top three parities failed to form a coalition government. So now Greece is leaderless, there is a caretaker government in place but it won't be able to enforce the austerity required to get the next tranche of bailout funds necessary for Greece to avoid running out of money in July. So as time runs out for Greece the European authorities have been clear: the upcoming election is a referendum on euro-membership. Either vote for pro bailout ...

Euro is finding some support in Forex trading today, heading a little bit higher. Even though there are still concerns about what is happening in Europe, traders are looking for a little bit of respite from the risk aversion and gloom. So, the euro is a little bit higher right now, and other high beta currencies are seeing some success as well. Euro is slightly higher against the US dollar right now. Spain has all but nationalized its fourth-largest bank, and is taking aggressive steps to shore up its financial sector. While this may not solve Spain’s problems, it’s at least an attempt, and one that many are viewing favorably. Additionally, UK pound, another high beta currency, is seeing success against the US dollar. The Bank of England is keeping quantitative easing on hold, and that ...

(Reuters) - Gold dropped to a four-month low on Wednesday, pressured by a weaker euro as investors fretted about the political upheavals in Greece that threaten to sink the country into chaos and endanger the euro zone's efforts to end the debt crisis. Spot gold lost more than 1 percent to a four-month low of $1,586.74 an ounce, extending a 2-percent slide from the previous session. It stood at $1,588.64 by 00:13 EDT (0413 GMT). U.S. gold also dropped to a four-month trough, at $1,589.50. The leftwing leader who was mandated to form a government in Greece has so far failed to do so after Sunday's election, as his opposition to a bailout deal seen crucial for the economy alienated mainstream parties and shook market confidence that the euro zone will pull itself out of the debt crisis. ...

(Reuters) - Brent crude was steady above $119 a barrel on Wednesday, supported by positive manufacturing data from the United States and China that lifted hopes of higher oil demand at the world's top two energy consumers. U.S. manufacturing growth in April hit its highest level in 10 months, while China's factory sector also expanded last month, government data showed on Tuesday. A private-sector survey geared towards smaller Chinese firms also showed that manufacturing activity improved in April, but remained below the threshold of 50 that divides expansion from contraction. "The economic data is supporting oil prices, but there will be anxiety ahead of the U.S. jobs report on Friday, so I don't expect any big volatility for the rest of the week," said Gordon Kwan, head of energy ...

(Reuters) - The euro dropped against the dollar on Monday and notched its worst monthly performance since December, weighed down by news of Spain slipping back into recession and signs of weaker economic momentum in the United States. Investors were also wary of buying euros before weekend elections in France and Greece and a European Central Bank meeting this week that could further knock down sentiment. "Risk aversion was today's theme, with the economic outlook for the euro zone looking bleak," said Camilla Sutton, chief currency strategist at Scotia Capital in Toronto. "In the U.S., overall deterioration in economic data has left the door squarely open for the Fed to add more stimulus." Data on U.S. spending and business activity in the Midwest reinforced that view that the U.S. ...

(Reuters) - The euro dropped against the dollar on Monday and was on track for its worst month since December, weighed down by news of Spain slipping back into recession and signs of weaker economic momentum in the United States. Investors were also wary of buying euros before weekend elections in France and Greece and a European Central Bank meeting this week that could further knock sentiment on the euro zone currency. "All the news out of Europe is getting worse, although we're still in a range," said Win Thin, senior currency strategist at Brown Brothers Harriman in New York. "I think the European news and the generally weak U.S. data are sort of feeding into this risk-aversion mode." The euro failed to gain traction despite signs the U.S. economic recovery was losing momentum, ...

Euro is mostly rangebound today, making small gains against the US dollar, after a Dutch bond auction proved reasonably successful. The euro has been struggling lately due to concerns about the political stability of eurozone countries, as well as continued worries about Spain. Earlier, a bond auction in the Netherlands was deemed a success. There had been some questions about the bond auction, since the resignation of Prime Minister Mark Rutte and the collapse of the Dutch government. With politicians unable to agree on budgetary measures, the government is at an impasse and an early general election looks like it will be called. The bond auction out of the Netherlands, though, is steadying the euro somewhat in Forex trading. It appears that the Netherlands is likely to maintain its AAA ...

(Reuters) - The yen turned higher on Monday while riskier currencies like the Australian dollar came off highs as support from surprisingly strong Chinese factory data faded and investors took a cautious view of prospects for the global economy. The euro was steady, staying near a one-month high against the dollar but remaining vulnerable to renewed bouts of selling as a weak euro zone manufacturing activity survey highlighted a grim outlook for the region. The single currency was helped by falls in Italian and Spanish bond yields, although trade was e "It seems like investors remain cautious with service sector data from China still to come this week and nothing to indicate an imminent policy response from the Chinese to the slowdown in their economy," said Valentin Marinov, head of ...

Oil rose above $123 a barrel on Friday, reversing three straight sessions of losses, supported by a weaker dollar and expectations of tight gasoline supplies in the world's largest oil consumer the United States. Front-month Brent crude futures rose 81 cents to $123.20 a barrel by 0905 GMT (05.05 a.m. EDT), recovering from its sharpest daily fall in more than three weeks. U.S. crude futures were 43 cents up at $103.21 after posting their biggest two-day slide since mid-December. Persistent worries of a supply disruption in the Middle East underpinned oil but gains were capped by worries some Western nations will release oil stocks, increasing supply and tempering prices, and concerns the euro zone crisis had not been tamed. "Prices are still very rangebound," said Amrita Sen from ...