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Data Lifted The EuroTitle:
Dollar trades in tight range in very thin market
Morning Briefing : Dollar trades in tight range in very thin market
What's new:
Forex: US dollar stuck in tight range versus major rivals
Global Markets: Asian markets trade lower, remain in holiday mood
Japan: Minutes from two November BOJ meetings released overnight
United States: Consumer confidence data to be released today.
Forex rates in Asia and Indices:
EUR/USD: 1.3077 - 1.3043
USD/CHF: 0.9378 – 0.9352
GBP/USD: 1.5682 - 1.5594
USD/JPY: 78.03 – 77.87
EUR/CHF: 1.2237 – 1.2216
EUR/JPY: 101.92 – 101.69
DowJones: 12'294.00 +1.02%
NASDAQ: 2'618.64 +0.74%
S & P 500: 1'265.33 +0.90%
Nikkei: 8’440.56 -0.46%
Shanghai: 2’166.21 -1.09%
Gold: $ 1'597.20
Crude Oil: $ 99.58
Comments:
Forex movements were very light overnight, while markets were still in a holiday mood on Tuesday. The US dollar ...
Title:
Santa rally may face test next week
Get ready. The last trading week of the year will be a test for stocks to prove whether they have the strength to carry a rally into next year.
The broad S&P 500 index broke through its 200-day moving average on Friday after turning positive for the year as a four-day rally lifted stocks following a spell of better-than-expected economic data. At Friday's close, the S&P 500 was up 0.6 percent for the year.
But despite the recent economic data that suggest the U.S. economy is on the right track to recovery, Europe's sovereign debt crisis is troubling investors and weighing on the market.
Many market participants are reluctant to believe in a "Santa Claus rally" this year, which refers to stocks' seasonal tendency to gain in the final five trading days of the year and first two trading ...
Title:
Japan, India shares gain in holiday-thin Asia, U.S. hopes help
(Reuters) - Japanese and Indian stocks outperformed the rest of Asia in thin trade Monday, with sentiment partly lifted by signs of U.S. economic recovery, although trading was subdued with many markets closed for Christmas holidays.
Tokyo's Nikkei stock average .N225 ended up 1 percent, above its 25-day moving average of 8,459, while India's main 30-share BSE index .BSESN rose 1.14 percent, as investors sought holiday-season bargains.
But MSCI's broadest index of Asia Pacific shares outside Japan .MIAPJ0000PUS slipped from a two-week high touched earlier in the day to trade down 0.1 percent.
U.S., European and some Asian markets including Hong Kong and Singapore were closed Monday.
Wall Street stocks rose Friday, with the broad Standard & Poor's 500 Index .SPX breaking through its 200- ...
Title:
U.S. economy hopes buoy stocks, euro
An improved outlook on the U.S. economy lifted Wall Street stocks and supported the euro on Friday, but any gains in the holiday-thinned markets could prove short-lived with nagging worries about the fiscal disarray in Europe.
Signs that the U.S. economy is improving have strengthened in recent days after a string of healthy data, with Thursday's strong report on weekly jobless claims having a lasting impact.
"Basically what we are seeing here is the realization now the U.S. economy is going to grow at a modest pace in 2012 and the euro is here to stay," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.
The Dow Jones industrial average .DJI gained 42.35 points, or 0.35 percent, to 12,212.00. The Standard & Poor's 500 Index .SPX.INX gained 3.38 points, ...
Title:
Gold firms as upbeat data lifts euro, stocks
(Reuters) - Gold prices firmed a touch in Europe on Friday, tracking gains in the euro as upbeat U.S. data boosted interest in assets seen as higher risk at the dollar's expense, though volumes were light as financial markets wound down towards year-end.
Spot gold was up 0.1 percent at $1,607.60 an ounce at 1055 GMT. The precious metal remains on track for its worst quarterly performance in more than three years, although it has still climbed more than 13 percent this year.
"Markets have now moved into a pretty rock-steady price range, with most investors on the sidelines ahead of the new year," said Pradeep Unni, senior analyst at Richcomm Global Services. "Volatility too has declined significantly."
"In the immediate term it looks like gold will be associated with the other risky ...
Title:
Oil rises as U.S. stockpiles slump to near 3-year low
Oil prices rose for a third straight day on Wednesday as U.S. crude inventories dropped to their lowest in nearly three years, overshadowing worries about the euro zone debt crisis.
U.S. government data showed domestic crude stocks fell 10.6 million barrels last week to 323.6 million barrels, the lowest since the week to December 26, 2008, after logging the biggest weekly inventory drawdown in nearly 11 years.
"Overall, the (oil stocks) data is mildly bullish and I expect we will continue the trend for the next week," said Mark Waggoner, president at Excel Futures.
"I wouldn't be surprised if NYMEX crude hits $100 as we end the week."
In London, ICE February Brent crude settled 98 cents higher, or 0.92 percent, at $107.71 a barrel. In three days, front-month Brent has climbed $4.36, or ...
Title:
Gold surrenders gains as euro gives up ground
Gold surrendered gains on Wednesday in line with the euro after a tender for cheap European Central Bank loans failed to convince investors it would ease Europe's deep-seated debt problems, despite its greater-than-expected interest.
Spot gold was down at $1,610.89 an ounce at 1325 EST, well off an earlier high of $1,641.50 an ounce, as well as its previous close at $1,614.79 an ounce. However, it is still up more than 13 percent this year.
European banks took 489 billion euros at the ECB's first ever offering of three-year funding, initially lifting hopes a credit crunch could be avoided.
Gold prices rose as the tender lifted equities and the euro at the dollar's expense.
"Gold has been trading like a risk asset, along with other metals, and trading on the dollar-euro exchange rate," ...
Title:
Wall Street slips as Oracle miss casts doubt on technology
Stocks fell on Wednesday as weak earnings from Oracle raised concerns about the health of the tech sector ahead of the start of fourth-quarter earnings season in January.
Sentiment also fell on concerns that cut-rate loans from the European Central Bank's recent funding operation will not be used to buy Italian and Spanish debt, which would help lower elevated yields and lower pressure on refinancing for the debt-stricken countries.
Oracle Corp. (ORCL.O), the world's No. 3 software maker, joins a growing list of companies, including some of technology's biggest and oldest names, whose results and outlooks have raised alarm bells about business conditions.
"Oracle results were very bad and they provide a wet blanket for corporate tech spending as we go into the new year," said Michael ...
Title:
Oil up as U.S. stockpiles drop to near 3-year low
Oil rose above $107 a barrel on Wednesday as U.S. crude inventories dropped to their lowest in nearly three years, overshadowing worries about the euro zone debt crisis.
U.S. government data showed domestic crude stocks fell 10.6 million barrels last week to 323.6 million barrels, the lowest since the week to December 26, 2008, after logging the biggest weekly inventory drawdown in nearly 11 years.
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