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Basket Of Four Major CurrenciesTitle:
Euro sinks to 21-month low as Greek exit fears rise
(Reuters) - The euro plunged to a 21-month low against the dollar on Wednesday as investors dumped the currency on growing fears of a Greek euro zone exit and widespread doubts about the outcome of an EU summit later in the day.
EU leaders are expected to discuss growth-boosting measures but are not expected to produce any plan that would restore optimism among investors, especially given Germany's strong opposition to joint euro bonds.
Investors are doubtful that the leaders will come up with any measures to calm fears that have grown since an inconclusive Greek election earlier this month left the country on the path to bankruptcy and a possible exit from the euro zone.
"The whole problem of Greece, of fiscal retrenchment in the euro zone, the lack of growth across the region, and the ...
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Euro drops to 21-month low as break up risks mount
(Reuters) - The euro fell to a 21-month low against the dollar on Wednesday as investors added to bearish bets on growing concerns about a chaotic Greek exit and widespread skepticism about the outcome of an EU summit due later in the day.
EU leaders are expected to discuss growth-boosting measures but are not expected to produce any plan that would restore optimism among investors, especially given Germany remains strongly opposed to joint euro bonds.
Investors are doubtful that the leaders will come up with any measures to calm fears that have grown since an inconclusive Greek election earlier this month left the country on the path to bankruptcy and a possible exit from the euro zone.
The euro fell to $1.2615 on trading platform EBS, dropping below the 2012 low of $1.2624 set in ...
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Strengthened dollar
Today a mix of sentiments were spread throughout the day on a local and global scale as we watched Facebook Inc. retreating and investors speculating that China and Europe will stimulate growth, yet optimism was the major sentiment felt on the U.S soil mainly after that the superpower`s existing home sales jumped by 3.4 percent in April; a clear sign of recent stability within the housing market.
Accordingly we watch the dollar strengthen on this unexpected cheerful data to therefore see the Dollar index which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, rose to currently trade at 81.27 recording its highest level at 81.38 and its lowest at 80.92
As a result the euro fell against the dollar and remains on plunging ...
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Shares up on Europe summit hopes, euro dips
(Reuters) - World shares gained for a second day on Tuesday amid speculation of fresh action by European leaders to tackle the region's debt crisis, even as the euro fell on doubts that much would come of this week's meeting.
A rise in existing home sales to their highest annual rate in nearly two years in April and a decline in foreclosures added to the positive tone in equity markets.
The National Association of Realtors said existing home sales increased 3.4 percent to an annual rate of 4.62 million units, the highest since May 2010. Across the U.S., the median price for a home resale jumped to $177,400 in April, up 10.1 percent from a year earlier.
"The housing market is showing some signs of life and the April number suggests that sales of single-family homes are rising again," ...
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Major pairs currently narrow trading
Today on a daily scale we watched on one hand the yen plunging in front of most of its conterparts after that it was speculated that the Bank of Japan will add stimulus this week to support the country`s growth while that on the other hand the euro gained prior losses against the dollar as the German Finance Minister announced that "everything necessary" will be done by France and Germany to keep Greece in the Union.
Yet so far some technical movements are taking place throughout the currencies market within the U.S session to accordingly watch the major pairs and currencies narrow trade and therefore the dollar index, which measures the dollar performance against a basket of currencies including the Euro, the Pound, and the Yen is actually consolidating on the four-hour and one-hour ...
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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 continues its rebound, trying to avoid another weekly decline
Precious-Gold continued its rebound on Friday after recording the highest one-day rise in more than three months on Thursday`s session, trying to end the week on a gain.
In the previous session, the yellow metal managed to advance more than 2% as investors decided the metal after the drop to four and a half month low on hopes there will be a rebound. Indeed, the shiny metal did an upside correction as momentum indicators signaled the metal was oversold.
Gold is currently trading around $1597.00 an ounce after recording a low of $1567.85, where the shiny metal found support at $1520 levels to continue rebounding to avoid recording the third consecutive weekly drop this week.
Though, mounting worries from the euro area are expected to put the shiny metal under pressure once again.
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Euro zone fears propel dollar, global shares in red for year
The U.S. dollar climbed, world shares fell and German borrowing costs hit record lows on Friday as a deepening Spanish banking crisis, uncertainty about Greece's future in the euro zone and lackluster U.S. data provoked a rush for safe-haven assets.
World stocks, as measured by the MSCI index, .MIWD00000PUS dropped 0.85 percent and are now below where they began the year, having relinquished all their first quarter gains which were fuelled by the European Central Bank's creation of more than a trillion euros of three-year money.
That rally is now a distant memory as an ugly week for stock markets looked likely to end even uglier.
Across the board, riskier assets from commodities such as gold and oil and currencies like the euro and the Australian dollar were all heading for big weekly ...
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Euro at four month low against dollar as crisis spins
The euro hit a four-month low against the dollar and 3-1/2 month trough versus the yen on Friday as concerns about a chaotic Greek exit from the euro zone and instability in the Spanish banking system fuelled demand for safer currencies.
Investors were reluctant to buy riskier assets after Moody's cut the credit ratings of 16 Spanish banks on Thursday. Fellow ratings agency Fitch downgraded Greece deeper into junk territory.
The euro tumbled to $1.2642, within sight its 2012 low of $1.2624. It has shed 4.1 percent against the dollar so far in May, while demand for the highly liquid dollar pushed it up 0.3 percent against a basket of currency .DXY on the day to a four-month peak of 81.758.
Against the yen, the euro fell to 100.219 yen, its lowest level since early February.
Many ...
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