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Improving Euro ZoneTitle:
Forex-Dollar holds near highs, euro struggles
The dollar remained near its highest level in nearly a month against the euro on Monday as investors continued to trade on the euphoria of a recovering labor market that was seen as making it less likely the Federal Reserve would supply further monetary stimulus.
Earlier in the global session, the dollar touched its highest in nearly 7 weeks against a basket of currencies and analysts expect it to be supported if data show more signs of a sustained economic recovery.
That's in contrast with the euro zone, where the single currency is expected to struggle in the coming weeks as relief at Greece's debt restructuring gives way to concerns over euro zone growth and risk of contagion. Traders said investors were looking to sell the euro into a bounce.
But despite Friday's good news of a ...
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Gold slips as equities reverse gains, eyes on Fed meeting
(Reuters) - Gold edged lower on Monday after equities reversed gains and the U.S. dollar rallied to the highest in more than a month, but some investors opted to stay on the sidelines ahead of a U.S. Federal Reserve meeting this week that could weigh on the precious metal.
Gold has risen more than 9 percent this year, building on 11 consecutive years of increases, after the Federal Reserve said it would keep rates near zero until at least 2014. But the Fed may have to reconsider any plans for additional monetary easing when it meets on Tuesday if there are more signs that the U.S. economy is recovering.
Spot gold hit an intraday high of $1,713.80 per ounce before slipping to $1,704.71 an ounce by 0707 GMT, down $3.32. On Friday, gold rose nearly 1 percent on higher crude oil and U.S. ...
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Weekly Economic and Financial Commentary : 10/03/2012
Weekly Economic and Financial Commentary
U.S. Review
Nonfarm Payroll Report Continues to Show Progress
The big headline for the week was the nonfarm payroll report which showed the labor market added 227,000 jobs in February with the unemployment rate unchanged at 8.3 percent. The private sector added 233,000 jobs with the largest gains in temporary help, manufacturing, education & health and leisure & hospitality.
The real trade deficit of the United States widened in December to -$49.1 billion from -$48.3 billion. While much of the drop was due to an increase in petroleum prices, we expect trade to be a drag on first quarter economic growth.
Positive Jobs Report Continues to Support Growth
This week's economic indicators continued to signal a moderate pace of economic ...
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Central banks keep on hold while Greece reaches PSI deal
Morning Briefing : Central banks keep on hold while Greece reaches PSI deal
What's new:
Asia: Positive mood after lower than expected Chinese CPI.
Euro-Zone: Strong day for the EUR on back of PSI deal being priced in.
United States: USD sold off across the board yesterday on risk taking.
Forex rates in Asia and Indices:
EURUSD: 1.3224 1.3278.
USDCHF: 0.9080 0.9112.
GBPUSD: 1.5832 - 1.5789.
EURJPY: 107.76 108.65.
USDJPY: 81.47 81.89.
DowJones: 12907.94 +0.55%
NASDAQ: 2'970.42 +1.18%
S & P 500: 1'365.91 +0.98%
Nikkei: 9929.74 +1.65%
Shanghai: 2'439.46 +0.79%
Gold: $ 1'703.30
Crude Oil: $ 107.13
Comments:
Overnight, China was in the headlines as the consumer prices for February revealed a sharp drop to 3.2% vs. the January rate at 4.5%. This was lower than expectations at 3.4% ...
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YouTradeFX Daily Market Analysis : 09/03/2012
Fundamental News:
Todays highlights:
Trade Balance + Nonfarm Payrolls + Unemployment Rate (U.S, 13:30 GMT)
Trade Balance (CAD, 13:30 GMT)
Manufacturing Production (MoM) (GB, 09:30 GMT)
German CPI (MoM) (GER,07:00 GMT)
Labor Department figures put the level of U.S initial jobless claims at a seasonally adjusted 362,000 for the week ended March 3rd, an increase of 8,000 from the previous week's revised figure of 354,000. While, Household confidence improved last week to a four-year high as more Americans said the economy was improving and decided it was a good time to shop.
The European Central Bank left its record low interest rate unchanged for the third straight month as it waits to see the impact of its record liquidity injection, and as inflation concerns return. ...
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February jobs gains seen strong, keeping Fed at bay
(Reuters) - Employment likely grew solidly for a third straight month in February, a sign the economic recovery is becoming more durable and in less need of further monetary stimulus from the Federal Reserve.
The economy probably created 210,000 jobs last month, according to a Reuters survey, following January's tally of 243,000. The unemployment rate is expected to have held at a three-year low of 8.3 percent.
If the forecasts are accurate, the government's jobs report on Friday would mark the first time since early 2011 that payrolls have grown by more than 200,000 for three months in a row - an outcome that could bolster President Barack Obama's chances of winning re-election.
"The improving labor market is another sign that the recovery is broadening and reduces the urgency for the ...
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Euro up on Greek relief; China, U.S. data next
(Reuters) - The euro and commodity currencies held on to overnight gains in Asia on Friday after Greece moved closer to securing fresh funds needed to avoid a messy debt default.
But further gains will depend on China's consumer inflation data due around 0130 GMT and industrial output at 0530 GMT, which could either support or undermine the improving risk sentiment.
The single currency stood at $1.3274, having risen some 1 percent on Thursday after Greece looked close to getting 95 percent agreement on its bond swap offer to private creditors to lighten its debt burden.
This saw the greenback fall to its lowest level this week against a basket of major currencies .DXY. The greenback though, managed to rise against the safe-haven yen, climbing to 81.55 from Thursday's low of 81.06.
...
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Gold rises but easing euro dampens rally
(Reuters) - Gold edged higher on Thursday, but eased from session highs after the euro declined when the European Central Bank cut its growth forecasts for the region and signaled its role in fighting the debt crisis was over.
Risk-linked assets such as the euro, with which gold is at its most tightly correlated in over two years, were boosted by confidence that Greece would complete a bond swap with private investors to avoid defaulting on its debt.
ECB President Mario Draghi doused hopes for more multi-billion euro loans for commercial banks and put the onus back on governments to fight the crisis, following the central bank's decision to leave euro zone rates unchanged.
Gold often profits from economic pessimism but its close correlation with the euro tempered gains.
Meanwhile, a ...
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A huge data was issued today that affected the Asian trading
The Asian trading session today is full of fluctuations, where most of the major Asian currencies were trading negatively, where a huge data was issued today by New Zealand, Japan and Australia that affected the trading session.
The Reserve Bank of New Zealand kept the interest rates unchanged at its record low of 2.5 percent, as a result for weak economic growth that eased the inflation pressure, yet the New Zealand dollar fell, yet the governor Alan Bollard said that the sustained strength in the New Zealand dollar would reduce the need for further increases in the cash rate.
As, the NZ dollar fell directly after the RBNZ's governor announcements , and It bought 81.64 U.S. cents from 81.95 cents immediately before the statement
Moving to Japan, where the Japanese economy contracted ...
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