British Pound Steadied

Forex Morning Briefing : Euro weakness keeps EUR/CHF close to target levels What’s new: Asia: Asian Equities follow US counterparts into negative territory FOREX: EUR/CHF still close to 1.20 after briefly slipping below yesterday BoE: Remains on hold no changes to Asset purchases target Rates in Asia and Indices: EURUSD: 1.3053 – 1.3078. USDCHF: 0.9187 – 0.9206. GBPUSD: 1.5822 - 1.5866. EURJPY: 107.29 – 107.66. USDJPY: 82.16– 82.40. DowJones: 13’060.14 -0.11% NASDAQ: 3'080.50 +0.4% S & P 500: 1'398.08 -0.06% Nikkei: 9’688.45 -0.81% Shanghai: 2'300.64 -0.07% Gold: $ 1'630.10 Crude Oil: $ 103.31 Comments: Markets remain hesitant; after the Fed’s minutes earlier this week caused investors to rethink about the likelihood of further QE from the US Central bank. In the US, major equity ...

The Dollar swung after being near a one-month low against the 16-nation common currency after factory orders in the U.S. rose below forecast in February and before the Federal Open markets Committee releases minutes of its March 13 meeting. The U.S. Commerce Department, Bureau of the Census reported today in Washington that new orders of the U.S. durable and non durable goods increased 1.3 percent in February, from a revised 1.1 percent decrease in January, but unexpectedly missing forecast. The 17-nation common currency also slipped from its highest levels in a while as Spanish bond yields rose and the euro zone's unemployment rate notched up for an eighth month. Still, the euro may get the chance to restore earlier losses should its U.S. counterpart dip further. Risk sentiments are ...

Throughout the US session today the euro and the pound appeal were boosted and accordingly still targeted by traders due to today's US cheerful data where on one hand empire manufacturing rose cheerfully and unexpectedly to 20.21; the fasted pace since June 2010 while that on the other hand the country's jobless benefits dropping last week to almost a four-year low. Now the Greenback lost some momentum with the day start, driving the index which tracks the performance of the U.S. dollar against 6 of its most-traded counterparts, down to 80.42 after opening at 80.58, recording the highest level of 80.67 and lowest of 80.30. Gold Spot price rose to $1647.20 an ounce from $1643.44. Oil futures for April delivery steadied around $105.32 a barrel from $105.56. Accordingly the euro remains on ...

The Greenback was supported by an unexpected drop in jobless claims last, but pared its gain against most of its peer amid mixed sentiments, after stocks gained this morning and treasuries, spurring the appeal for higher-yielding assets. The U.S Department of Labor reported today that applications for unemployment insurances dropped by 12 thousand to 367 thousand in the week ended January 28, beating median forecast of 371 thousand and adding to signs the labor market is strengthening. The euro depreciated as Greece continue to struggle to reach an agreement with its creditors on trimming the nation's debt burden, fueling more concerns that Europe's debt crisis is falling into a deeper rabbit-hole. Greek debt-swap talks are yet to resume this week. Meanwhile, the dollar fell against its ...

Currency traders are targeting risk assets on Wednesday. The euro rose against the dollar for the first time in three days, after a PMI of manufacturing production in the region exceeded analysts' estimates, signaling Europe's economy is picking up. On the other hand, the greenback weakened after manufacturing in China and the U.S grew as well, driving traders to seek higher-yielding assets and damping demand for safe havens. Furthermore, the Yen rallied versus the U.S dollar on speculation central bank of Japan will intervene to weaken the currency. In fact, manufacturing data from around the largest economies lifted up demand for risk assets, after Chinese manufacturing gauges inclined and a U.K. manufacturing index rose to its highest level since May last year. Equities starched rally ...

Markets witnessed mixed sentiments today, but positive vibes started to dominate traders, making risk assets more appealing afternoon, after the Federal Open Market Committee said it will keep the benchmark interest rates exceptionally low until late 2014 and Apple earnings doubled expectations. Stocks restored gains and the euro, while the dollar waned. Apple Inc, the Technology giant and maker of iPhone and iPods, reported splendid quarterly earnings after the makrets closed yesterday, doubling analysts' expected earnings and featuring the earnings season so far, after reporting net income of $13.064 billion in last quarter or $13.87 a share, from $6.004 billion the year ago. The dollar index, which measures the performance of the U.S dollar against a basket of currencies including ...

Sentiments rebounded in financial markets on Wednesday, propelling traders to switch on the risk-seeking mode on optimism that efforts are being made to contain Europe' debt crisis, as the International Monetary Fund planned to raise about 500 billion euros for funding. Stocks rallied and the euro while the dollar dropped versus majors. If truth be told, Gloomy sentiments were dominating the global scene early Wednesday, as traders were extremely worried about recent talks between the European leaders over restructuring the Greek debt, yet the rattled tone was soon offset by the IMF news and better than forecasted earnings at Goldman Sachs along with a couple of upbeat economic reports from the U.S economy. The IMP said today it plans to expand its lending capacity by $600 billion from ...

Currency markets traded mixed following German-Franco disappointments and upbeat data from Germany, as the German exports inclined by 2.5% compared with the prior decline of 2.9%, noting that the trade balance showed a surplus of 16.2 billion euro better than expected in Germany. The French president and the German Chancellor made soft progress regarding the new budget rules, not offering offer much to the markets, but warnings on Greece over the next tranche, which was a bit negative for currency, therefore, the euro bottled up following the news as markets are still skeptical on how leaders will solve the debt crisis and when will they apply the new budget rules. The U.S refrained from adding a bit of flavor to session, where the Dollar index which measures the performance of the U.S. ...

The Greenback rebounded against its peers following a series of economic events that kicked off demand from high-yielding assets on Wednesday, first, the Central Bank of England decided to keep the benchmark interest tares intact at 1.00 percent, followed by the European Central offer of a record three-month loans worth 489 billion euros which was met with incredibly large demand at an auction today, followed by the U.S housing data that outpaced economists’ average estimates for November. Together, these economic fundamentals were seen as a boost for the world’s top reserve currency, especially since the euro lost its appeal while fears reignited after European lenders sought more funds than forecasted at the auction today, indicating the impact of the debt crisis is way too harsh on the ...