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Analysts Estimate That That The YenTitle:
Yen Falls vs. Majors as Traders Anticipates Intervention from BoJ
The Japanese yen fell against other major currencies today on speculation that the Bank of Japan will continue its efforts to weaken the currency. Even fears of the European debt crisis were not been able to help Japan’s currency.
Specialist estimated that Japan’s gross domestic product grew as much as 3.5 percent of the first quarter of 2012 from Q1 2011, when it fell 0.7 percent. Analysts predict that growth would slow as the export-oriented economy of Japan is under pressure from the strong currency and slowing demand for nation’s exports, caused by the global economic slowdown. It is likely that under such conditions the BoJ would not have any option but stimulate the economy more.
USD/JPY climbed from 80.18 to 80.36, following the rise to 80.55 — the highest price since May 3, and ...
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Wall Street Goes Higher On Housing Starts, Industrial Production Data
Wall Street opened green higher on Wednesday, following the three-day slide for the Standard & Poor`s 500 Index, as better than expected housing starts and industrial production reignited optimism about the economy.
American equities rose at the opening following governmental reports that showed output at manufacturing, mines and utilities increased 1.1 percent in April. Homebuilders broke the ground on more homes than forecast in the same period.
Housing starts rose 2.6 percent to a 717 thousand annual rate last month, the Commerce Department reported early morning. Analysts called for a median annual rate of 685 thousand. Building permits fell to 715 thousand in the same period.
Sentiments went somehow neutral with ongoing political crisis in Greece and speculation the nation will ...
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Euro slides to fresh 4-month low on Greek concerns
The euro dropped to a four-month low against the U.S. dollar on Tuesday after Greece failed to form a government and said it would hold new elections, raising risks it could eventually exit the euro.
The euro fell for a fifth of the last six sessions on chances left-wing politicians opposed to Greece's international bailout could win the June elections. The prospect increased risk aversion and German government bonds rose sharply. Italian and Spanish 10-year yields hit 6 percent on the news.
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U.S shares continue rise in midday…
The world`s leading saw its shares rising throughout the midday session today as optimism was strongly spread after that higher and faster-than-forecast growth in New York manufacturing conditions was reported regardless of the persisting fears created on the EU soil.
Now Groupon Inc. surged 17 percent after the largest daily-deal website reported first-quarter profit that topped analysts’ estimates and Avon Products Inc. sank 11 percent as Coty Inc., the maker of perfumes by Beyonce Knowles, withdrew its sweetened $10.7 billion offer for the company.
The USDIX which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, rose from today`s opening level of 80.70 to currently trade at 80.93, recording its highest level at 80. ...
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U.S. Stocks Go Green On Upbeat Manufacturing, Greek-Government Deadlock
U.S. Stocks turned slightly positive after the opening on Tuesday, as better than estimated economic data offset concern Greece will soon exit the euro.
Equities gained after swinging this morning as manufacturing in the New York region grew more than forecast in May, helped as well by an unexpected German GDP data.
Other governmental data showed this morning that retails sales in the U.S. rose last month at the slowest pace of the year, and that consumer prices were unchanged.
However, fears from Europe loomed around the markets as Greece will hold new elections after President Karlos Papoulias failed to find the means to create a unity government.
Retailer shares gained the most in the in the S&P 500 after the government report, while Financials were lifted as well as Bank of ...
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Euro drops to near 4-month low on Greek deadlock
The euro fell to a nearly four-month low against the dollar on Monday on fears Greece could exit the euro and worries that weak industrial data signaled that Europe was heading for recession.
Concerns about slowing Chinese and global growth also drove down higher-yielding currencies and boosted the safe-haven dollar and yen. The Australian dollar fell to a five-month low against the greenback, while the New Zealand dollar dropped to a 4-1/2-month trough.
Greece's political impasse, as a major Greek leftist party refused to join a unity government or create a government of technocrats, also pushed the country's sovereign spreads over German bunds to their widest level since November.
Greece's troubles helped drive up Spain's and Italy's borrowing costs. Spain's bill auctions also showed ...
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Euro slips to near 4-month trough on Greece
The euro slipped to a near four-month low on Monday as political turmoil in Greece highlighted the risk it might exit the euro zone, while worries about slowing Chinese and global growth drove down higher-yielding currencies.
Safe-haven currencies, including the dollar and the Japanese yen, rose as coalition talks in Greece hit an impasse on Sunday, increasing the chance of another election.
Euro-zone industrial production unexpectedly fell in March, adding to signs the bloc is heading into recession, further fuelling bearish sentiment, while Spain's short-term debt costs rose at auction and its 10-year yields soared.
"Beyond the ongoing turmoil in the European financial system, policymakers in Greece are certainly running out of time as they struggle to form a coalition," said David ...
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Euro hits near 4-month trough on Greek deadlock
The euro fell to a near four-month low on Monday as political turmoil gripped Greece, highlighting the risk the country may exit the euro zone, while worries about slowing Chinese and global growth drove down higher-yielding currencies.
Safe-haven currencies including the dollar and the Japanese yen rose as coalition talks in Greece hit an impasse on Sunday, increasing the chance of another election.
Euro zone industrial production unexpectedly fell in March, adding to signs the bloc is heading into recession and further fuelling bearish sentiment, while Spain's short-term debt costs rose at auction and its 10-year yields soared.
The common currency fell to $1.2861 on trading platform EBS, its lowest level since January 23. It has lost 2.7 percent so far this month after losing 0.8 ...
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Greek woes drag euro to near 4-months lows; Aussie dips
The euro fell to a near four-month low on Monday as political uncertainty in Greece deepened, keeping alive the risk of the country exiting the euro zone while worries about slowing Chinese and global growth drove down higher-yielding currencies.
Safe-haven currencies like the U.S. dollar and the Japanese yen advanced as coalition talks in Greece hit an impasse on Sunday and Greece's radical leftist leader spurned an invitation from the president for a final round of talks on Monday, all but ensuring another election next month.
Adding to the bearish tone, German Chancellor Angela Merkel's conservatives suffered a crushing defeat on Sunday in an election in Germany's most populous state, a result which could embolden the left opposition to step up attacks on her European austerity ...
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