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Euro dips, German debt rises after Spain downgrade
(Reuters) - The euro dipped and investors sought safety in German government bonds on Friday as a two-notch downgrade of Spain's credit rating ahead of a key Italian bond auction increased nervousness about the struggling economies in the euro zone.
European shares stabilized at 1,040.70 points after three straight days of gains following the move by Standard & Poor's - it cut Spain to BBB plus - and fresh data showing Spain's jobless rate rising.
The rating downgrade took the gloss off markets supported this week by the U.S. Federal Reserve's commitment to support growth, and shifted the focus back to the euro zone.
"This downgrade shows that governments in Europe are still struggling to get their budgets in balance. We are probably going to see more downgrades from other rating ...
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Shares edge up; Spain downgrade caps gains
(Reuters) - Asian shares edged higher on Friday on firm U.S. data, but a two-notch downgrade of Spain's credit rating capped gains, while fresh easing measures by the Bank of Japan briefly pushed Tokyo stocks up over 1 percent and the dollar above 81 yen.
European shares were likely to fall, with financial spreadbetters predicting that major European markets would open as much as down 0.5 percent. U.S. stock futures were down 0.5 percent.
Japan's central bank moved as expected to help fight deep deflation, sparking a jump in the Nikkei stock average which helped temporarily drag the broader Asian stock higher.
MSCI's broadest index of Asia-Pacific shares outside Japan last stood up 0.2 percent, set for a weekly drop of 0.1 percent. The technology sector and Korean shares outperformed, ...
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Global Shares inch up, Spain debt downgrade caps
(Reuters) - Asian shares pushed higher on Friday on firm U.S. data despite a two-notch downgrade of Spain's credit rating that capped gains, while fresh easing measures by the Bank of Japan supported Tokyo stocks.
Japan's central bank moved as expected to help fight deep deflation, initially pushing Japanese stocks up more than 1 percent and helping drag the broader Asian stock higher.
MSCI's broadest index of Asia-Pacific shares outside Japan extended gains to a 0.4 percent rise, headed by the technology sector with a 1.6 percent rise. At current levels, the index was set for a 0.2 percent weekly gain.
Seoul shares outperformed, rising on the back of a record $5.15 billion first-quarter profit by Samsung Electronics, which boosted its shares by more than 3 percent to an all-time ...
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Euro hit by poor data, dovish Fed limits losses
(Reuters) - The euro retreated from a three-week high against the dollar on Thursday as weak sentiment data increased concerns about the economic outlook for the euro zone, though losses were limited by the Federal Reserve pledging to be open on more stimulus.
Following a two-day policy meeting that finished on Wednesday Federal Reserve Chairman Ben Bernanke said policymakers were ready to launch another round of bond buying if the U.S. economy weakened.
The statement weighed broadly on the dollar, pushing it to a three-week low against the euro of $1.3263, before the common currency slipped on data showing euro zone economic sentiment fell more than expected in April.
U.S. initial weekly jobless claims showing a weaker pace of healing in the labor market sent the dollar to a one-week ...
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Dollar hits 3-week lows after Fed says ready to act if needed
(Reuters) - The dollar fell to a three-week low against a basket of major currencies on Thursday after the Federal Reserve said it was ready to launch another round of bond buying if the U.S. economy weakens.
The dollar's weakness boosted the Canadian dollar and pushed the British pound to a seven month high against the U.S. currency, as the central banks of Canada and Britian, in contrast to the Fed, are seen moving away from further stimulus.
A tightening of peripheral euro zone spreads lifted the euro, but with debt problems still brewing large and the threat of a recession and political instability hanging over the euro zone, the common currency was unlikely to break above its recent highs, analysts said.
The dollar index .DXY was at 78.849, having fallen as low as 78.823 its lowest ...
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FOMC Holds US Interest Rates low
U.S. Dollar Trading (USD) the USD was sold post FOMC overnight with the maintaining its easy monetary policy with a slight upgrade to forecasts. Overall the FOMC meeting was very supportive for markets and weak for the USD going forward. Fridays Q1 US GDP report will be critical for the US recovery story and the Global stock market rally waiting for clearer information on the health of the US economy. Looking ahead, Weekly Jobless Claims are forecast at 375k vs. 386k previously. March Pending Home Sales are forecast at 1% vs. 0.5% previously.
The Euro (EUR) the Euro is once again back above 1.3200 and is looking to test recent resistance near 1.3250 as stock markets rally and the fear over Eurozone debt markets resides for now. The market is looking to ECB President Draghi’s speech ...
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YouTradeFX Daily Market Analysis : 26/04/2012
Fundamental News
Today’s highlights:
Initial Jobless Claims (U.S 13:30 GMT)
Pending Home Sales (MoM) (U.S, 15:00 GMT)
German CPI (MoM) (GER, Tentative)
BBA Mortgage Approvals (GB, 09:30 GMT)
The U.S. economy continues to expand at a moderate pace despite the "temporary" impact of higher energy prices, the Federal Reserve announced in making its latest decision on interest rates Wednesday. There were no major shifts in the Fed's accommodative monetary policy and the decision to keep its benchmark rate at effectively zero was in line with economist expectations. However, Federal Reserve Chairman Ben S. Bernanke said the central bank stands ready to add to its stimulus if necessary.
The FOMC “expects economic growth to remain moderate over coming quarters and then to pick ...
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Dollar near 3-week low as it falls prey to dovish Fed
(Reuters) - The U.S. dollar floundered at three-week lows against a basket of major currencies on Thursday, after the Federal Reserve did little to alter the perception that the central bank will be deeply committed to a dovish policy stance.
While the Fed's policy meeting turned out to be a bit of an anti-climax to many market players, the fall in euro zone sovereign yield spreads overnight also helped to push the euro up above its peak last week to test major resistance levels.
The dollar index .DXY stood at 79.063, having fallen as low as 78.995 after Fed Chairman Ben Bernanke said the central bank would not hesitate to launch another round of bond buying if the economy needed it.
The Fed has previously engaged in two rounds of asset purchases totaling $2.3 trillion, known as ...
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Euro near 3-week high after debt sales, Apple results
(Reuters) - The euro hovered near a three-week high against the dollar on Wednesday after euro zone sovereign debt attracted decent demand and strong earnings from Apple boosted risk appetite, while focus turned to the outcome of a Federal Reserve meeting.
The euro traded at $1.3197, close to levels not seen in three weeks, after hitting the previous session's low of 1.3145. Immediate resistance is at last week's high of 1.3225.
Investors were relieved when successful auctions sent yields on Dutch, Spanish and Italian debt lower on Tuesday, a day after the government in the Netherlands collapsed in a crisis over budget cuts.
Traders cited stop losses at 1.3230 in the common currency, while chartists suggested that if they get triggered, the euro would target resistance at the 61.8 ...
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