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Gains Against The DollarTitle:
European equities fluctuate with the start of the session European equities are mixed
European equities fluctuate with the start of the sessionEuropean equities are mixed on fear that Greece might be leaving the euro area despite the fact that the decision makers from the euro area con
European equities are mixed on fear that Greece might be leaving the euro area despite the fact that the decision makers from the euro area confirmed that they will not let Greece leave. Markets will be fluctuating between slight gains and losses ahead of the opening today.
The market mainly started to fluctuate after the Italian Prime Minister Mario Monti said yesterday night that most of the European leaders support the issuing of the European bonds.
But things stay uncertain especially after the china`s remarks witnessed in yesterday`s trading showed a possible failure of the largest ...
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Euro Corrects Some of the Losses as This Week Comes to an End
Another week has almost ended, while all the focus remains on Greece as markets still attempt to weigh the alternatives for Greece and whether the nation might exit the one-currency bloc or not, where uncertainty dominates investors and markets, the thing the weighed sharply on the common currency, which almost shed 2% this week.
The sentiment remains negative, while fears and concerns are mounting, where a poll in Greece showed yesterday that the anti-austerity Syriza Party is leading now as more and more Greeks are joining the anti-austerity campaign.
The Public Issue/Saki TV poll showed that the leftist party gained 30% of the vote, beating that conservative New Democracy Party with 4 points, noting that this party mainly backs the second bailout deal. In the third place the Socialist ...
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Euro Remains Under Pressure
The euro (EUR) dropped to a two year low falling to 1.2515 from 1.2619 against the US dollar as uncertainty in the market grows. The single currency is under pressure as investors are worried about a problematic banking sector in the eurozone and a messy Greek exit from the euro. Economic figures from Germany further weighed on sentiment after German manufacturing data was weaker than expected. Failure by EU leaders to take decisive steps to tackle the eurozone debt crisis has curbed risk appetite, while growth in the region appears to be deteriorating. Against the Swiss franc, the single currency spiked higher to 1.2075 on rumors that the Swiss National Bank will impose a tax on deposits.
The US dollar (USD) strengthened against a basket of currencies as heightened risk aversion in the ...
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Germany May Have No Choice But To Play Ball
Investors in Asia were not as confident as those in the US and Europe, with most equity markets in Asia trading in negative territory or flat. A lot of investors are likely choosing to stay on the sidelines with so much of their focus on the uncertainty in Europe.
Overnight, Italy’s Monti attempted to reassure the market by stating Eurobonds gained a lot of support at Wednesday’s EU summit, with the obvious exception of Germany.
Monti appears to be suggesting Germany will give in to other EU leaders. Looking at Germany’s alternatives we are inclined to agree with this assumption. The balance of power may be shifting, and Germany may have no other option than to bow to pressure from its fellow EU nations, especially when faced with the prospect of Greece leaving the Eurozone which puts ...
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Japanese yen declines against majors at the end of the week
The Japanese yen fell against the dollar and major currencies today at the end of the week’s session after the CPI missed expectations and remained below the BOJ’s inflation target which raised worries especially from deflation bubble.
USD/JPY pair inclined to record a high of 79.82 after a low of 79.52, where the pair is currently trading at 79.70 after opening at 79.58.
The Euro is hovering around its lowest this week which amid continued concerns about sovereign debt crisis in Europe, especially after the failure of European leaders in talks to set out the decision.
EUR/USD pair recorded low of 1.2515 after reaching a high of 1.2552 after opening at 1.2532.
AUD/USD pair fell today to record a low of 0.9724 after a high of 0.7983 and started the session at 0.9761. The NZD/USD pair ...
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Euro wallows at 2-year lows as EU worries rattle markets
(Reuters) - The euro wallowed at two-year lows against the dollar on Friday and was poised to end the week two percent weaker, weighed down by weak German manufacturing data and worries about a messy Greek exit from the euro zone.
The risk-sensitive Australian dollar dipped 0.2 percent to $0.9741, coming close to the six-month low of $0.9690 hit on Wednesday as a sell-off in emerging market currencies picked up steam.
Rattled by worries over lack of growth in the euro area, the fragile situation of the region's banking system and a potential messy Greek exit from the single currency bloc, the euro is poised to chalk up its biggest weekly loss since the first week of April.
Macro funds and real money investors have ramped up selling of the currency, which is now down more than 5 percent ...
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Canadian Dollar Remains Depressed by European Crisis
The Canadian dollar fell today, dropping for the fourth straight day against its US peer, as fears of a collapse of the eurozone made Forex traders prefer the US currency to the Canadian one. The currency was flat against the yen.
The prospect of an exit of Greece from the eurozone is still haunting investors and is likely to persist until the elections in June. China and the United States also add to uncertainty from time to time as some indicators signal about slower growth. All in all, currently is not the best environment to trade higher-risk currencies associated with risk.
The future of the Canadian currency does not look grim despite the negative factors as the economy of Canada looks robust enough to weather most adverse events. In fact, fundamentals were rather supportive for ...
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Spike of EUR/USD Leads to Speculation About SNB Intervention
The Swiss franc fell after a spike of the EUR/USD currency pair lead to speculations that the Swiss National Bank may take additional measures to erode the role of the franc as a safe haven.
Yesterday, for a short time, EUR/USD climbed to the highest level since March. The currency pair quickly pulled back, but that was enough to spur talks about another intervention by the SNB. There were rumors that the central bank plans to introduce a tax on deposit. Government and the bank’s officials refused to comment the speculations. Some economists say that the spike was likely caused just by some bank selling euros.
The SNB introduced the 1.20 cap on the franc against the euro in September last year. Since then, the Swiss currency was steadily appreciating, but stopped near the ceiling, ...
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U.S shares rise in closing
The world`s leading economy saw its shares actually erasing losses throughout the closing session as optimism returned on a local and global scale after that the Italian Prime Minister Mario Monti said Greece is likely to stay in the euro and a majority of the region’s leader`s support issuing a joint bond.
The Dow Jones Industrial Average index gained 33.60 points or 0.27% to close at 12529.75 levels, the index reached the highest point at 12539.59 and the lowest point at 12419.63, By closing 20 shares inclined while 10 shares declined.
The Standard & Poor’s 500 Index added 1.82 points or 0.17% to close at 1320.68 levels, the index reached the highest point at 1324.14 and the lowest point at 1310.50, By closing 288 shares inclined while 208 shares declined and 4 shares remained ...
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