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Market Recovery Was HavingTitle:
Euro near 3-mth high vs. dollar, yen subdued
(Reuters) - The euro rose broadly on Tuesday, moving within sight of a near three-month high against the U.S. dollar ahead of an injection of cheap cash by the European Central Bank that could boost risk appetite and the common currency in the near term.
It also advanced against the yen, although it stayed well below a four-month peak. The yen pulled away from a 9-month low against the dollar reached the day before on month-end buying by Japanese exporters, although short-covering by hedge funds saw it relinquish most of those gains.
Currency investors sidestepped news that Standard & Poor's cut its ratings on Greece to "selective default" as Athens' efforts to lighten its debt burden was largely expected to trigger the downgrade.
Still, many were cautious about pushing the euro too ...
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Gold steadies as lower prices tempt buyers
Gold prices steadied on Monday, having earlier fallen in line with the euro, stocks and other commodities like crude oil, as buyers were tempted back to the market by the metal's retreat towards $1,760 an ounce.
Spot gold was at $1,770.09 an ounce at 1439 GMT against $1,772.19 late on Friday, having earlier slipped as low as $1,761.76 an ounce. U.S. gold futures for April delivery were down $6.00 an ounce at $1,770.40.
The metal has risen more than 13 percent so far this year and analysts are upbeat about its prospects on expectations that monetary policy will remain loose in key economies, cutting the opportunity cost of holding non-yielding bullion.
"I would think that buyers who missed the move higher last week stepped in as we approached $1,760, as longs would have a relatively high ...
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Brent crude in euros hits new high, stocks climb
(Reuters) - Brent oil priced in euros hit a record high on Thursday on heightened tension between Iran and the West while U.S. stocks neared peaks not seen since before the 2008 collapse of Lehman Brothers.
The rise in Brent, the benchmark for European crude and most international oil trades, poses a new headache for cash-strapped Europe, still reeling from a two-year-old sovereign debt crisis.
German data helped the euro rise to its highest in 2-1/2 months against the U.S. dollar. The Ifo think tank survey of business sentiment rose to its strongest in seven months.
But forecasts for the euro zone economy underscored the pressures facing the region. The European Commission's half-yearly forecast showed output in the 17 nations sharing the euro will contract by 0.3 percent and the ...
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Brent oil in euros at new high, stocks edge up
(Reuters) - Brent oil priced in euros hit a record high on Thursday on heightened tension between Iran and the West while U.S. stocks struggled to extend gains as they approached levels not seen since before the 2008 collapse of Lehman Brothers.
The rise in Brent, the benchmark for European crude and most international oil trades, poses a new headache for cash-strapped Europe, still reeling from a two-year-old sovereign debt crisis.
German data helped the euro rise to its highest against the dollar in 10 weeks. In Germany, the Ifo think tank survey of business sentiment rose to its strongest in seven months.
But forecasts for the euro zone economy underscored the pressures facing the region. The European Commission's half-yearly forecast showed output in the 17 nations sharing the euro ...
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Growth concerns weigh on euro and shares
(Reuters) - Concerns over the health of the global economy dampened the appetite for riskier assets on Wednesday with data showing the euro zone may be sliding back toward recession and signs the region's crisis may be hitting China's giant economy.
Growing worries that Greece will struggle to meet the demands of its new bailout deal also added to the uncertain tone for shares and the euro, while the prospect of weaker demand in both Europe and Asia sent oil and metals markets lower.
"The (euro zone) economy remains stuck in low gear. It's indicative of a flatlining economy, maybe slightly contracting rather than a major slowdown," Peter Dixon, global equities economist at Commerzbank said.
U.S. stock index futures pointed to a weaker open on Wall Street while the numbers sent the broad ...
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Forex - Second Greek Bailout Package Pass Eurogroup
Forex News and Events:
The initial reaction was a one of relief as the much anticipated Greek second bailout package was passed by the Eurogroup finance ministers was announced. However, there was little else in regards to further rally in risk appetite. We do have DJIA futures trading above 13000, which is a solid, bullish signal, but the movement in FX has been less than compelling. Dow Jones reported that financing on the deal would total 130bn euro and that Debt to GDP would wall to 121% by 2020. In addition, the news wires reported that private creditors would accept a deeper haircut, expected to be over 53%. On the news of the Eurogroup and PSI agreement, EURUSD jumped to 1.3290 while AUDUSD climbed to 1.0755, however there was little follow through in either pair after the ...
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Shares, euro rise on China move, Greek hopes
(Reuters) - Shares gained and the euro hit a one-week high on Monday as China's move to beef up banking activity supported optimism for global growth and as Greece edged closer to securing a bailout, though rising oil prices weighed on the recovery hopes.
Trading was subdued as euro zone ministers gathered to discuss the Greek deal, with the closure of U.S. markets for a holiday having the potential to exaggerate any price moves.
The finance ministers are expected to approve a second bailout for Greece later in the day to try and draw a line under months of uncertainty that has shaken the currency bloc, although more work was still needed to make the numbers add up.
"Today we are aiming to finalize the decision on a new rescue package for Greece," German finance minister Wolfgang ...
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A cheerful and busy week for the superpower…
This week like many others since that the year begun confirmed that the world's leading economy remains on the right track of recovery and is actually advancing within this route of moderate revival with actually more labor, business, housing and labor data released these past days coming in cheerful as an overall and better than projections while that prices pressures or in other words inflation remains well under control to once again support prior Federal Reserve projections.
In fact as we start the week we watched business activities continue on supporting the moderate revival of the superpower as the retail sales in January climb up from the prior anemic reading, supported by post-holiday discounts with the retail sales throughout the past month, inclining up significantly by 0.5 ...
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Oil steady around $120 on Iran concern, Greece optimism
Oil hovered near $120 a barrel on Friday, supported by tension between Iran and the West and hopes for a long-awaited Greek bailout deal.
"As long as there are serious concerns about supply shortfalls and while optimism continues on the financial markets, the oil price is likely to continue to rise, especially since even investors with a short-term view will no doubt want to jump on the bandwagon now that the $120 mark has been exceeded," said Carsten Fritsch, analyst at Commerzbank.
Oil has turned in a star performance this week: U.S. crude is heading for its biggest weekly gain since late December and Brent is targeting its fourth consecutive weekly rise.
North Sea Brent slid 47 cents to $119.64 by 1447 GMT, having climbed to an eight-month high of more than $120. U.S. crude rose 94 ...
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