Dollar At Record Vs

The EUR/USD fell as low as 1.2614 yesterday, a 21-month low, after investors grew increasingly concerned regarding Greece's fate in the euro-zone and shifted their funds to safe-haven assets. The currency pair staged a mild upward correction later in the day, eventually stabilizing around the 1.2655 level. Turning to today, euro traders will want to pay attention to several potentially significant news events. Specifically, the German Manufacturing PMI and Ifo Business Climate may help the euro recoup some of yesterday's losses if they come in above expectations. Economic News USD - Dollar Sees Significant Gains amid Risk Aversion The US dollar moved up against several of its main currency rivals yesterday, as ongoing fears regarding Greece's future in the euro-zone have led to risk ...

Euro hits fresh 2012 lows ahead of informal summit; More reports of an ECB contingency plan in the works Economic Data (GR) Greece Mar Current Account: -€2.1B v €1.1B prior (NL) Netherlands Mar Consumer Spending Y/Y: % v -1.3% prior (SE) Sweden Apr Unemployment Rate: % v 7.8%e (EU) Euro Zone Apr Current Account: +€7.5B v -€5.6B prior; Current Account Seasonally Adj: +€7.5B v -€1.2B prior (IT) Italy May Consumer Confidence: 86.5 v 89.5e (lowest reading on record after series began in 1996)) (ZA) South Africa Apr CPI (all items) M/M: 0.4% v 0.5%e; Y/Y: % v 6.2%e (TW) Taiwan Apr Industrial Production Y/Y: -2.3% v -1.7%e; Commercial Sales Y/Y: -2.4% v -0.9% prior (UK) Apr Retail Sales Ex Auto Fuel M/M: -1.0% v -0.7%e; Y/Y: -0.3% v +0.7%e (UK) Apr Retail Sales with Auto Fuel M/M: -0.8% ...

The JPY took losses against the US dollar during European trading yesterday, following a downgrade of Japan's credit rating. The USD/JPY advanced close to 60 pips over the course of the day, eventually peaking at 79.93. Today, dollar traders will want to pay attention to US New Home Sales figure, set to be released at 14:00 GMT. Analysts are forecasting the figure to show improvements in the US real estate sector, which if true, could help the greenback extend yesterday's gains. In addition to the news out of the US, traders will want to pay attention to any announcements out of the euro-zone. An informal meeting of euro-zone leaders is set to conclude today. Any signs of a new strategy to combat the region's debt crisis could lead to market volatility. Economic News USD - Dollar Sees ...

The euro continued to tumble vs. its main currency rivals yesterday, as traders remained cautious about investing in riskier assets due to political uncertainty in the euro-zone. The EUR/USD fell to a fresh three-month low during the afternoon session at 1.2929. Turning to today, traders should be prepared for market volatility, as significant indicators from the UK and US are scheduled to be released. Attention should be given to the UK MPC Rate Statement, followed by the US Trade Balance figure and a speech from Fed Chairman Bernanke. Should any of the news lead to additional pessimism in the global economic recovery, riskier currencies like the euro may fall further. Economic News USD - Safe Haven Dollar Extends Gains amid Euro-Zone Worries A lack of news events yesterday helped the ...

On Thursday 3rd May at 1245 BST/ 0745 ET the European Central Bank (ECB) will announce interest rates. It is widely expected to remain on hold at a record low 1%, for the fifth consecutive month. Of more importance to the market will be ECB President Draghi's press conference at 1330 BST/ 0830 ET as we will likely find out the Bank's view on weakening economic growth and sovereign strains in Spain. Draghi may also shed more light on the 'growth compact' that he suggested at a speech to the European Parliament last week. We don't believe the Bank will announce any new 'special' measures to try and ease the problems in the Eurozone periphery. President Draghi did not hint in his speech last week that the Bank would re-start its Securities Markets Programme (SMP), which purchases domestic ...

(Reuters) - Since 2009, the city of Chesapeake, tucked up against the Great Dismal Swamp in southern Virginia, has cut its workforce twice. This summer, nearly three years after the recession ended, the city of 222,209 has plans for a third round of layoffs. "We're not seeing the recovery we want to see," said Budget Director Steven Jenkins, who is hoping many of the 20 people will move into other jobs. The city's revenues are still feeling the concussions from the housing market downturn, which started in 2006, even as overall growth in the United States has improved. "We are heavily reliant on the residential real estate market," said Jenkins. In a recent assessment the average property value dropped 3.7 percent, which hits property taxes, and hurts government budgets. "The ...

The EUR/USD, which had come within a one-week high during the overnight session yesterday, once again fell below the 1.3300 level during European trading. Analysts attributed the bearish correction to ongoing uncertainties regarding the euro-zone economic recovery. Today, the US ADP Non-Farm Employment Change figure is likely to be the highlight of the trading day. The figure is considered a valid predictor of Friday's all-important Non-Farm Payrolls figure, and typically leads to heavy market volatility. A better than expected result could help the USD against its main currency rivals. Economic News USD - Dollar Stages Slight Recovery vs. EUR, AUD The US dollar was able to correct earlier losses against several of its main currency rivals during the European session yesterday, as risk ...

Fears regarding the pace of the global economic recovery sent riskier assets lower during yesterday's session. The EUR/USD fell some 90 pips during the European session, while the EUR/JPY tumbled close to 150 pips. Today, the US dollar may be able to maintain its bullish trend if the FOMC Meeting Minutes helps boost investor confidence in the US economy. Later in the week, traders will want to remember that the US will be releasing the monthly Non-Farm Employment Change figure. With analysts predicting growth in the US employment sector, the dollar may see significant upward momentum in the coming days. Economic News USD - Positive US Data Helps USD The US dollar saw gains vs. most of its riskier currency rivals as the combination of poor international fundamental news and positive US ...

Following a relatively mild session last week, traders can anticipate significant market activity in the coming days, as a batch of significant US news is set to be released. While the most attention will be given to Friday's Non-Farm Employment Change figure, investors will be also looking at today's ISM Manufacturing PMI and tomorrow's FOMC Meeting Minutes for clues as to the current state of the US economy. Positive news may help the dollar move up vs. its main currency rivals, including the euro and Japanese yen. Economic News USD - Manufacturing Data May Give USD a Boost Today The US dollar saw a mixed day on Friday to close out last week's trading session, as positive euro-zone news generated some risk taking in the marketplace. The passage of Spain's budget gave investor ...