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Among Market PlayersTitle:
Euro bounces off 4-month low, but remains under pressure
(Reuters) - The euro extended its rebound from last week's four-month low on Monday but investors remained concerned over financial turmoil in Greece and Spain, drawing little comfort from a broad G8 pledge to take steps to fight the euro zone's debt crisis.
The common currency rose on short-covering after speculators piled up a record amount of bets against it, according to data from a U.S. financial watchdog released late last week.
"We are entering a consolidation phase with regard to the euro. It will not be known for a while whether Greece will stay in the euro or not with a Greek election a few weeks away," said Minori Uchida, chief analyst at the Bank of Tokyo-Mitsubishi UFJ.
"The market may show some minor reaction to Greek opinion polls... but it is hard to sell the euro in ...
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Gold jumps, heads for biggest 2-day gain since October
Gold rose more than 1 percent on Friday, on track for its largest two-day gain since October, boosted by investors' consolidation of positions ahead of the weekend and a stronger euro.
The second day of gains helped bolster confidence, which had been shaken by gold's fall earlier this week to a four-month low at $1,527 an ounce, near critical long-term support levels.
But traders remained cautious given how the escalating crisis in Europe has driven the single currency lower this month.
"There is still no conviction in the market. If gold was a safe haven, it should be higher. Physical demand is mediocre and the Europeans want the dollar, which is why it is so strong," a physical U.S. gold trader said.
The psychologically important $1,600-per-ounce mark remained elusive.
It got close, ...
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Gold rises 1 percent, eyes weekly gain, as euro recovers
Gold prices rose more than 1 percent on Friday, building on the previous session's hefty gains, as a recovery in the euro prompted some buying of the precious metal, with shorts covering amid expectations prices could rise further.
Gold posted its biggest one-day gain since January 25 on Thursday, recovering some ground lost during its longest run of losses in five months. Its reversal has put it on track to end the week 0.4 percent higher.
Spot gold was up 1 percent at $1,589.16 an ounce at 1148 GMT, having earlier touched a high of $1,594.10, while U.S. gold futures for June delivery were up $14.40 an ounce at $1,589.30.
The euro recovered from a four-month lows against the dollar to move into positive territory, taking some pressure off gold, though concerns over a Greek euro exit ...
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Copper pushes up despite weaker Chinese data
Copper rose for the first time in six sessions Thursday, recovering from the prior day's three-week low below $8,000 a tonne after a double-dose of upbeat data from the United States helped draw in buyers.
Copper rose in tandem with global equities, which were up for the first time in seven sessions, after data showing a fall in weekly claims for jobless benefits and a record surge in exports in March offset weak trade data from top copper consumer China.
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Copper slips on weak euro, China demand concerns
(Reuters) - Copper fell on Wednesday after weaker EU and Chinese manufacturing data and a slump in new orders for U.S. factory goods raised fresh concerns about economic slowdown and prospects for demand.
A weaker euro also took its toll as a stronger dollar puts pressure on metals prices as it makes commodities priced in the U.S. unit more expensive for holders of other currencies.
The euro fell against the dollar after data showed the euro zone manufacturing sector slipped further into decline last month as a downturn that started in the periphery appears to be taking root among core members France and Germany.
Benchmark copper on the London Metal Exchange (LME) was at $8,295 a metric ton (1.1023 tons) by 1502 GMT, from Tuesday's close of $8,440.
It hit a session low of $8,275 a ...
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Gold slips as U.S. data lifts the dollar
(Reuters) - Gold prices fell on Wednesday along with the euro as U.S. factory orders data helped the dollar extend early gains and as speculation faded that the Federal Reserve is set for another round of monetary easing.
Comments from several Fed officials on Tuesday reinforced the notion that the bank is happy to stand pat on policy. Talk of further easing, which could hurt the dollar and keep interest rates low, has added significant support to gold this year.
Spot gold was down 0.8 percent at $1,648.15 an ounce at 1401 GMT, while U.S. gold futures for June delivery were down $13.50 an ounce at $1,648.90.
The metal briefly came off lows after a report showed U.S. private employers added the fewest jobs to the economy since September 2011 in April, denting the dollar's gains. The data ...
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Gold eases towards $1,650/oz after U.S. data
(Reuters) - Gold prices eased on Wednesday along with the euro after a downbeat survey of euro zone manufacturing activity contrasted with a stronger U.S. reading, though the metal pared losses after soft U.S. jobs report pulled the dollar from highs.
Speculation the Federal Reserve is set to unleash another wave of monetary easing faded, adding further pressure to gold, after comments from several Fed officials reinforced the notion they are happy to stand pat on policy.
Talk that further easing could be imminent, which would potentially undermine the dollar and keep interest rates low, has added significant support to gold this year.
Spot gold was down 0.5 percent at $1,653.71 an ounce at 1312 GMT, off a low of $1,648.09, while U.S. gold futures for June delivery were down $8.20 an ...
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Gold retreats as U.S. data lifts dollar
(Reuters) - Gold prices retreated towards $1,650 an ounce in Europe on Wednesday after a downbeat reading of euro zone manufacturing activity contrasted with stronger data from the United States, pushing the euro lower versus the dollar.
Spot gold was down 0.4 percent at $1,654.49 an ounce at 05:15 a.m. EDT (0915 GMT), while gold futures for June delivery were down $6.70 an ounce at $1,655.70.
The precious metal traded in its tightest monthly spread since last June in April and remains firmly within the $1,620-1,670 range, awaiting fresh impetus from the wider financial markets and economic indicators.
Jobs data at 1215 GMT will be closely watched as a precursor to a key non-farm payrolls report on Friday. A weak report would lift expectations for more monetary stimulus.
"With economic ...
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Aussie felled by RBA cut, U.S. dollar heavy
(Reuters) - The Australian dollar fell sharply on Tuesday after the Reserve Bank of Australia slashed rates by a deeper-than-expected 50 basis points while soft data nudged the U.S. dollar to a fresh two-month low versus the yen.
A sharp fall in business activity in the U.S. Midwest combined with data on Monday showing Spain was in recession dented investor appetite for risk and supported the safe-haven yen, which also rose against the broadly weaker Aussie dollar.
Markets had been expecting a 25 basis point rate cut from the Australian central bank (RBA) and the surprise drove the Australian dollar down more than 1 percent to $1.0312 and to a three-month low near 82 yen.
The Aussie traded near a five-month low against sterling, which rose above A$1.5700 despite a weaker than expected ...
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