Yen
Title:
US shares closed in mixed
U.S. stocks opened and closed lower and mixed on the first trading day of the week despite an unexpectedly positive retail sales data, as investors pondered the near-end of the Federal Reserve’s $85 billion monthly bond purchases.
The Dow Jones Industrial Average lost 0.18% or 26.81points to 1509.70 points. The S&P 500 gained 0.00% or 0.07 points to 1633.77 points. The NASDAQ composite index gained 0.06% or 2.21 points to 3430.30. As of 10:02 New York Time
Before the market opened Monday, U.S. stock futures trimmed losses after data showed that retail sales rose slightly in April, exceeding expectations. The Commerce Department reported Monday that retail sales rose a seasonally adjusted 0.1% last month, while economists had forecast a 0.3% decline in retail sales.
The Fed`s plans for ...
The green Benjamin remains in the spotlight within the US session as today’s cheerful retal sales data boosted the appeal of the U.S currency, having the U.S. retail sales climbing unexpectedly in April, on across- the-board gains, which indicates that consumers still have enough spending confidence.
As a result the euro fell against the dollar and remains on plunging slightly to the downside on the four and one-hour charts as a result of the current technical movements and strengthened dollar sending in fact the EUR/USD pair to trade around $1.2972 while recording the highest level of $1.2995 and lowest level of $1.2939, knowing that the pair may continue its plunge as shown on the four-hour momentum indicators. The trading range for this week is among the key support at 1.2725 and key ...
U.S. stocks opened lower on the first trading day of the week despite an unexpectedly positive retail sales data, as investors pondered the near-end of the Federal Reserve’s $85 billion monthly bond purchases.
The Dow Jones Industrial Average lost 0.35% or 53.35 points to 15064.79 points. The S&P 500 lost 0.25% or 4.10 points to 1629.63 points. The NASDAQ composite index dropped 0.19% or 6.22 points to 3430.30. As of 10:02 New York Time
Before the market opened Monday, U.S. stock futures trimmed losses after data showed that retail sales rose slightly in April, exceeding expectations. The Commerce Department reported Monday that retail sales rose a seasonally adjusted 0.1% last month, while economists had forecast a 0.3% decline in retail sales.
The Fed`s plans for scaling back ...
Germany and France plan to unleash a “New Deal” for the jobless youth in Europe, after youth unemployment hit 50 percent in several European countries, according a news report released on Monday.
The European investment Bank (EIB) will provide billions of euros in loans to promote education, training and job placements for young people, Germany`s Rheinische Post daily reported.
French Labour Minister Michel Sapin, German counterpart Ursula von der Leyen and a group of companies will be presenting the plan in Paris May 28, according to unnamed government sources and conference organizers.
The U.S. dollar managed to pare its earlier drop against a basket of major currencies with the beginning of the week despite the release of an upbeat U.S. retail sales report that came better than analysts’ forecasts.
Retail sales advanced 0.1% in April compared with both predicted and revised readings of -0.3% and -0.5% respectively.
The optimistic figures, which followed buoyant labor market, pushed the dollar to continue last week’s rally on expectations the Fed would scale back stimulus as the economy shows improvement.
The dollar index which tracks the dollar movements versus a basket of major currencies, is currently hovering around 83.25 from the session’s opening of 82.30.
Last week, the dollar index rose 1.25% after a U.S. jobless claims report has unexpectedly showed ...
The yen suffered fresh losses on Monday after Group of Seven (G7) finance ministers gave Japan`s ultra-loose monetary policies a green light and added that it will monitor closely the current Japanese government’s plans and its affect on the currency, pushing its currency to four-year lows.
Yen broke below the 102 mark to the dollar on Monday, its weakest level since October 2008, after Japan managed to escape direct criticism of its aggressive monetary stance at the G-7 meeting over the weekend.
The USDJPY is currently trading around 101.57 after setting a high of 102.14 and a low of 101.51. The trading range for this week is among key support at 97.00 and key resistance at 103.90.
The dollar continued trading above 100 yen on Friday, hitting levels not seen since April 2009 driven ...
EURO's Survival - A Tale Of Two Ideas
Now what? The FX market has got what it been coveting for many months, albeit a few weeks earlier than originally planned - USD/Yen trading north of the psychological 100 print. The pair, currently meandering through 'no-mans territory' is more influenced by the markets perception of the Fed's attitude towards QE and a potential exit strategy rather than Abenomics reasoning. Is the market to grind out further dollar supporting gains or are investors to reload on pullbacks and keep the faith in the BoJ?
At the G7 'boys' club this past weekend, Japan continues to get the green light and thumbs-up from fellow members for the Yen's depreciation. Japan's Finance Minister Aso said there had been “no criticism of Japan's policy from the G7,” while the Bank ...
U.S. stock futures pointed lower at the start of the trading week, following a lackluster performance by European equities as investors keep watch for April’s retail sales data.
Futures on the Dow Jones Industrial Average slipped 0.325% to 15019 points. The S&P 500 futures dropped 0.393% to 1623.20 points. The NASDAQ 100 futures lost 0.445% to 2962.25 points. As of 06:25 New York Time
Investors await data on U.S. retail sales due before the opening bell. Wall Street is expecting a pullback in April sales, where another drop in sales could put further weight on market sentiment.
U.S. stocks finished Friday near record highs, capping a third straight week of gains.
This week also marks the end of first-quarter earnings season, with a few company reports still trickling in. Dillard`s is ...
Sunrise Market Commentary
Rates: Yields surge higher in repositioning move
Global bonds were heavily sold in a move that was closely linked to the collapse of the yen which caused repositioning across markets. Technically, the moves were significant, also as they occurred in large volumes. Peripheral bonds continued to outperform.
Currencies: Dollar strength across the board
At the end of last week, the dollar gained across the board. Better US eco data of late reactivated the debate on the Fed exit and supported the US currency. USD/JPY jumped beyond the 100 mark. EUR/USD tested the 1.2955/36 short-term support. Will today's retail sales support the case of a cyclical rebound of the dollar?
The Sunrise Headlines
US equities eked out some gains on Friday, with the S&P closing a tad ...