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Keeping The Dollar Under PressureTitle:
Gold keeps up rally after best January in 32 years
(Reuters) - Gold rallied for a second day on Wednesday as the euro rebounded following upbeat German economic data, building on gains in January that marked the metal's strongest starting month in 32 years.
Spot gold was up 0.5 percent at $1,746.25 an ounce at 6:05 a.m. ET, on course for a fifth straight week of gains.
It rose 11 percent in January, the largest one-month gain since August 2011 and the largest for the month of January since 1980, thanks to a combination of the weakness in the dollar from a Federal Reserve commitment to keep U.S. rates near zero, investor and consumer demand and central bank purchases.
Evidence of Germany's economic health helped boost the euro, and gold by extension. The single European currency was expected to remain under pressure from concerns about ...
Title:
Greek deal hopes support euro; yen near 3-month high
(Reuters) - The euro rose against the dollar on Tuesday, supported by expectations that a Greek debt restructuring deal could be clinched soon to help avoid a messy default, while a resurgent yen kept alive the risk of intervention by Japanese authorities.
The dollar extended its recent losses against the yen to hit a three-month low, under pressure after the U.S. Federal Reserve said last week it was likely to keep interest rates near zero at least until late 2014.
The euro got a lift after Greek Prime Minister Lucas Papademos said negotiators had made "significant progress" in talks to strike a restructuring deal on government debt, with the aim of a definitive agreement by the end of this week. But gains were likely to be tempered as worries mount that Portugal could follow Greece ...
Title:
Euro up on Greek deal hopes; yen near 3-month high
(Reuters) - The euro rose against the dollar on Tuesday, supported by expectations of a Greek debt restructuring deal that would help the country avoid a messy default while a resurgent yen kept alive the risk of intervention by Japanese authorities.
The dollar extended its recent losses against the yen and hit a three-month low, under pressure after the U.S. Federal Reserve said last week it was likely to keep interest rates near zero at least until late 2014.
The euro got a lift after Greek Prime Minister Lucas Papademos said negotiators had made "significant progress" in talks to strike a restructuring deal on government debt, with the aim of a definitive agreement by the end of this week.
The common currency was up 0.4 percent to $1.3180, edging towards a six-week high of $1.3235 ...
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Oil falls on euro zone worry, eyeing Iran
Oil prices fell on Monday as traders weighed concerns about difficulties negotiating a deal to restructure Greece's debt against the risk of a rabid halt in Iran's oil sales to Europe.
The dollar index .DXY strengthened and the euro fell from a six-week high against the U.S. currency as talks on a Greek debt agreement continued, keeping investors cautious about the outlook for the economy and oil demand.
European shares closed at a two-week low and U.S. stocks fell on the heightened concerns about the state of Europe's finances as Greece and Germany sparred over budget measures for Athens. .N
Further pressure on crude came as U.S. gasoline futures dipped on news a gasoline-making unit at the East Coast refinery returned.
Trading was volatile as the possibility Iran may yet halt exports ...
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Euro slips from 6-week high, EU summit eyed
(Reuters) - The euro retreated from six-week highs against the dollar on Monday as a rally driven by short-covering ran out of steam, with investors awaiting news that Greece and its private creditors are closer to a debt swap deal ahead of an EU summit.
An agreement to restructure private holdings of Greek debt is unlikely to be reached in time for the summit, at which euro zone leaders are expected to sign off on a permanent rescue fund for the euro zone and agree on inserting a balanced budget rule into national legislation.
Suggestions Greece should give up control of its budget policy to European institutions sparked an angry reaction from Greek Finance Minister Evangelos Venizelos, which traders said had also weighed on sentiment.
The single currency fell 0.5 percent to $1.3157 ...
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Gold set for biggest rise in three months after Fed
Gold rose on Friday, heading for its best weekly performance since late October after the Federal Reserve signaled its ultra-loose monetary policy would continue, keeping the dollar under pressure and the opportunity cost of holding bullion low.
Silver and platinum prices were also on course for their best monthly performances in nine months and nearly four years respectively in January, tracking gains in gold, stocks and other commodities.
Spot gold was up 0.5 percent at $1,727.81 an ounce at 1500 GMT and has risen 10 percent this month, recouping December's hefty losses. It is up 4.2 percent this week alone, its biggest one-week gain since the week ending October 30.
The metal surged to a seven-week high just below $1,730 an ounce on Thursday after the Fed said it planned to keep ...
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Markets firmer as focus turns from Greece to Fed
(Reuters) - Asian shares rose on Wednesday, underpinned by strong earnings from U.S. technology giant Apple, stabilizing European money markets and falling euro zone debt yields, with investors shifting their focus from Europe to the U.S. Federal Reserve.
The MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.8 percent and hit an 11-week high, led by the financial sector and a rally in Australia.
Australian shares rose 1.1 percent to a near seven-week high and its currency ticked higher after the nation's tame consumer price index in the fourth-quarter lifted hopes for a rate cut.
Japan's Nikkei average .N225 reached a three-month high and closed up 1.1 percent, boosted by a jump in Apple (AAPL.O), which reported quarterly results far exceeding analysts' expectations, and ...
Title:
Euro gains capped; Debt sales, Greek talks eyed
Morning Briefing : Euro gains capped; Debt sales, Greek talks eyed
What's new:
Forex: Euro pauses ahead of debt auctions; Aussie hurt by sour jobs data
Global Markets: Asian shares rally to two-month high on hopes IMF will boost funds
IMF: Reportedly seeking to raise its lending capacity by $600 billion
Euro zone: French and Spanish debt auctions in focus
Australia: Downbeat jobs data puts pressure on AUD
New Zealand: CPI slows much more than expected
Euro zone: Portuguese and German debt sales attracted strong demand on Wednesday
United States: 130-year old Kodak files for bankruptcy protection
Forex rates in Asia and Indices:
EUR/USD: 1.2878 - 1.2842
USD/CHF: 0.9409 – 0.9380
GBP/USD: 1.5446 - 1.5415
USD/JPY: 76.85 – 76.72
EUR/CHF: 1.2089 – 1.2069
EUR/JPY: 98.84 – 98.55
DowJones: 12'578. ...
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World stocks fall prior to S&P cuts
(Reuters) - The euro fell to a near 17-month low and world stocks fell on Friday in anticipation that Standard & Poor's would downgrade the ratings of several euro zone countries, including France -- action that S&P took after U.S. markets closed.
Talk of the impending downgrades permeated markets throughout the day based on news reports quoting sources.
S&P downgraded its debt ratings on nine euro zone countries, including Italy, Spain, Portugal and Austria, as well as France. Germany's rating was left unchanged.
The downgrades were the latest blow to the euro zone, which has been mired in a debt crisis and appears headed for recession.
Still, stocks ended well off the day's lows, with markets already having expected downgrades by S&P, which in early December said it was reviewing its ...
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