Australian Dollar Struggled

(Reuters) - The euro steadied against the dollar on Tuesday as its rebound from a recent four-month low stalled, although traders said selling was likely to be limited in the run-up to an informal meeting of European leaders this week. Many in the market were skeptical policymakers could agree measures to help tackle the euro zone debt crisis and soothe concerns about Greek political turmoil and weakness in the Spanish banking system. But with speculators' short euro positions at a record high, traders were wary of the potential for a squeeze higher on any signs of progress at Wednesday's meeting. The euro dipped 0.1 percent against the dollar to $1.2802, but holding above last week's four-month low of $1.2642. "I doubt any news out of the meeting tomorrow will be able to ...

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 ...

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 ...

Consumer sentiment in the U.S. rose to 77.8 in May from the final April reading of 76.4, according to a report released by Reuters and the University of Michigan on Friday. While, the Labor Department said on Friday that its producer price index fell by 0.2 percent in April. According to Bloomberg news, Sales at U.S. retailers probably slowed in April as the weather turned more seasonable and consumers took a breather following a pre-Easter holiday buying spree, economists said before a report this week. The projected 0.2 percent gain in purchases would follow a 0.8 percent advance in March, according to the median forecast of 68 economists surveyed by Bloomberg News ahead of Commerce Department figures on May 15. Events in the U.S, likely to affect the markets this week are: Monday; a ...

The euro hovered near a 3-1/2-month low on Friday as Greek political parties made efforts to form a coalition government, and looked fragile as risk sentiment struggled on weak Chinese data and JPMorgan's shock trading losses. The common currency was steady at $1.2936 after earlier hitting a trough of $1.2905, its lowest level since January 23. Investors were heavily focused on Greece, where inconclusive election results on Sunday threw the country into political disarray and raised the risk of it exiting the euro zone. The euro climbed to a session high of $1.2956 as Greek conservative leader Antonis Samaras said there were still hopes a government could be formed, but came further pressure when the leader of the moderate Democratic Left said the country was heading for a repeat poll. ...

(Reuters) - Asian shares struggled on Thursday, as a weak Chinese trade data stoked fears of a growth slowdown and further undermined risk appetite already reduced by worries about the health of Spanish banks and deepening political chaos in Greece. European shares will likely open mixed, with financial spreadbetters predicting that major European markets .FTSE .FCHI .GDAXI would open between a 0.3 percent rise and a 0.4 percent fall. U.S. stock futures were up 0.2 percent. .EU .L .N MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS, which has declined for the past five days, last stood nearly flat after bouncing between positive and negative territory. During the session it fell as much as 0.3 percent to its lowest in nearly four months and briefly rose as much as ...

Fundamental Analysis EUR "The debt crisis damps demand for German products in Europe but Russia, China, India, Brazil and South Africa should generally be able to compensate declining sales." - Gerd Hassel, an economist at BHF Bank AG German industrial production unexpectedly soared in March, adding to signs the euro zone’s largest economy is weathering debt crisis. Production jumped 2.8 per cent from February, when it declined 0.2 per cent, said the Economy Ministry on Tuesday. USD "People are preparing for a shock that may or may not occur." - Michael Holland, chairman and founder of New York-based Holland & Co. U.S. stocks fell on Tuesday as Greece’s bailout pledge came into question. GBP "The health of the housing market is a reverberation of consumer confidence and credit ...

Fundamental News Today’s highlights: · 10-Year Note Auction (U.S., 18:00 GMT) · Wholesale Inventories (MoM) (U.S., 15:00 GMT) · Crude Oil Inventories (U.S., 15:30 GMT) · MBA Mortgage Applications (WoW) (U.S., 12:00 GMT) Bloomberg News reported that, manufacturers in the U.S. became less- optimistic about 2012 sales growth than at the end of last year, while service companies grew more upbeat, according to a survey by the Institute for Supply Management. Purchasing managers at U.S. factories said they anticipate sales will grow 4.5 percent this year, less than a 5.5 percent December prediction, according to the Tempe, Arizona-based group’s semiannual forecast issued yesterday. Moody’s Investors Service will this month start cutting the credit ratings of ...

(Reuters) - Shares, precious metals and oil fell and the euro remained pressured on Wednesday as Greece struggled to form a government after an election that saw incumbent parties punished, heightening the risk that a hard-won bailout deal could be scrapped. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS shed 1.4 percent to its lowest in more than three months, with energy .MIAPJEN00PUS, materials .MIAPJMT00PUS and growth sensitive industrials .MIAPJIN00PUS leading the declines. Resources-heavy Australian shares .AXJO plunged 1 percent to a three-week low as oil, precious metals and copper slid. European shares will likely edge up after a mauling on Tuesday, with financial spreadbetters predicting that major European markets .FTSE .FCHI .GDAXI would open 0.6 ...