(Bloomberg) -- The yen advanced to a two-week high against the dollar before U.S. reports that may show industrial output and manufacturing contracted, adding to evidence the recession in the world’s largest economy is deepening.
Japan’s currency also climbed to the strongest in two weeks against the euro as Asian stocks fell, prompting investors to reduce holdings of higher-yielding assets. The euro may weaken for a second day versus the dollar on concern a German report today will show wholesale prices dropped for a fifth month, supporting the case for the European Central Bank to cut interest rates.
“Sooner rather than later pessimism will return to the market,” said Toru Umemoto, chief currency strategist in Tokyo at Barclays Capital, the world’s third-largest foreign-exchange trader. “The yen will be the beneficiary.”
The yen rose to 98.50 against the dollar at 12:20 p.m. in Tokyo from 98.98 in New York yesterday. It earlier reached 98.41, the strongest level since April 2. Japan’s currency gained to 130.48 per euro from 131.25, and advanced to 70.57 per Australian dollar from 71.63.
Read more at Bloomberg
Showing posts with label dollar. Show all posts
Showing posts with label dollar. Show all posts
Tuesday, April 14, 2009
Monday, August 6, 2007
Stocks Retreat in Europe; UBS, BNP, Philips, BHP, Lafarge Lead the Drop
(Bloomberg) -- European stocks fell, following
declines in Asia and the U.S., on mounting concern that losses in
the U.S. mortgage market will erode economic growth and raise
financing costs for companies.
UBS AG and BNP Paribas SA led a drop by financial shares.
Royal Philips Electronics NV and Lafarge SA decreased as the
dollar traded near a record low against the euro. BHP Billiton
Ltd. and Rio Tinto Group slipped after copper fell in Shanghai.
Read more at Bloomberg Stocks News
declines in Asia and the U.S., on mounting concern that losses in
the U.S. mortgage market will erode economic growth and raise
financing costs for companies.
UBS AG and BNP Paribas SA led a drop by financial shares.
Royal Philips Electronics NV and Lafarge SA decreased as the
dollar traded near a record low against the euro. BHP Billiton
Ltd. and Rio Tinto Group slipped after copper fell in Shanghai.
Read more at Bloomberg Stocks News
Dollar hits 15-year low vs basket of currencies
(Reuters) - The dollar fell to a 15-year low against a basket of currencies on Monday, as speculation mounted in financial markets that rising credit market risk and softening U.S. data will force a cut in U.S. interest rates.
The dollar index fell below the psychologically key 80.0 level, while the euro rose to within sight of its record high above $1.3850 struck two weeks ago.
Read more at Reuters Africa
The dollar index fell below the psychologically key 80.0 level, while the euro rose to within sight of its record high above $1.3850 struck two weeks ago.
Read more at Reuters Africa
Sunday, August 5, 2007
Gold off 1-week high, Tokyo dips on firmer yen
(Reuters) - Gold dipped in profit taking on Monday after touching a one-week high last week, while Tokyo futures fell on a firmer yen.
Spot gold fell to $671.90/672.40 an ounce at 0320 GMT, from $674.10/674.90 late in New York on Friday, when it hit its highest in a week at $674.20 an ounce as the dollar weakened on lower-than-expected U.S. data on jobs growth.
Read more at Reuters Africa
Spot gold fell to $671.90/672.40 an ounce at 0320 GMT, from $674.10/674.90 late in New York on Friday, when it hit its highest in a week at $674.20 an ounce as the dollar weakened on lower-than-expected U.S. data on jobs growth.
Read more at Reuters Africa
Singapore Dollar to Rise 10 Percent to Record $1.38, BNP Paribas Predicts
(Bloomberg) -- The Singapore dollar may rise 10
percent to a record in a year as an influx of tourists and
bankers supports economic growth, BNP Paribas SA said.
The currency may reach S$1.38 per dollar by June 30, passing
the record of S$1.3835 reached in 1995, as the Monetary Authority
of Singapore seeks gains to curb inflation, said Thio Chin Loo,
senior foreign-exchange strategist in Singapore at France's
largest bank by market value.
Read more at Bloomberg Currencies News
percent to a record in a year as an influx of tourists and
bankers supports economic growth, BNP Paribas SA said.
The currency may reach S$1.38 per dollar by June 30, passing
the record of S$1.3835 reached in 1995, as the Monetary Authority
of Singapore seeks gains to curb inflation, said Thio Chin Loo,
senior foreign-exchange strategist in Singapore at France's
largest bank by market value.
Read more at Bloomberg Currencies News
Japan's Shares Drop on U.S. Economy Concern, Stronger Yen; Sony Leads Fall
(Bloomberg) -- Japanese stocks declined, led by Sony
Corp. and Canon Inc., on concern losses in the U.S. mortgage
market may slow the world's biggest economy.
Exporters also fell after the yen strengthened to a four-
month high against the dollar, eroding the value of their dollar-
denominated sales.
Read more at Bloomberg Stocks News
Corp. and Canon Inc., on concern losses in the U.S. mortgage
market may slow the world's biggest economy.
Exporters also fell after the yen strengthened to a four-
month high against the dollar, eroding the value of their dollar-
denominated sales.
Read more at Bloomberg Stocks News
Japan's Stocks Drop on U.S. Economy Concern, Stronger Yen; Sony Leads Fall
(Bloomberg) -- Japanese stocks declined, led by Canon
Inc. and Sony Corp., on concern losses in the U.S. mortgage
market may slow the world's biggest economy.
Exporters also fell after the yen strengthened to a four-
month high against the dollar, eroding the value of their dollar-
denominated sales.
Read more at Bloomberg Stocks News
Inc. and Sony Corp., on concern losses in the U.S. mortgage
market may slow the world's biggest economy.
Exporters also fell after the yen strengthened to a four-
month high against the dollar, eroding the value of their dollar-
denominated sales.
Read more at Bloomberg Stocks News
New Zealand Dollar Falls a Second Day; Housing Woes Spur Carry Trade Exit
(Bloomberg) -- The New Zealand dollar declined for a
second day as concerns U.S. subprime mortgage losses will slow
global growth deterred traders from buying riskier investments.
So called carry trades, where investors borrow cheaply in
yen to buy higher-yielding assets elsewhere, have seen New
Zealand's dollar gain 25 percent against Japan's currency in the
past year. U.S. stocks dropped Aug. 3 after Samuel Molinaro,
chief financial officer at Bear Stearns Cos. called the current
crisis in fixed-income the worst ever.
Read more at Bloomberg Currencies News
second day as concerns U.S. subprime mortgage losses will slow
global growth deterred traders from buying riskier investments.
So called carry trades, where investors borrow cheaply in
yen to buy higher-yielding assets elsewhere, have seen New
Zealand's dollar gain 25 percent against Japan's currency in the
past year. U.S. stocks dropped Aug. 3 after Samuel Molinaro,
chief financial officer at Bear Stearns Cos. called the current
crisis in fixed-income the worst ever.
Read more at Bloomberg Currencies News
Philippine Inflation Probably Stayed Close to Seven-Year Low on Currency
(Bloomberg) -- Philippine inflation probably rose in
July. Still, the pace was close to the slowest in 7 1/2 years as
gains in the peso against the dollar lowered the price of
imports, including oil.
Consumer prices increased 2.4 percent from a year earlier,
according to the median estimate of 14 economists surveyed by
Bloomberg News. Inflation was 2.3 percent in June after rising
in the previous two months from 2.2 percent, the lowest level
since January 2000. The National Statistics Office report is due
tomorrow at 9 a.m. in Manila.
Read more at Bloomberg Currencies News
July. Still, the pace was close to the slowest in 7 1/2 years as
gains in the peso against the dollar lowered the price of
imports, including oil.
Consumer prices increased 2.4 percent from a year earlier,
according to the median estimate of 14 economists surveyed by
Bloomberg News. Inflation was 2.3 percent in June after rising
in the previous two months from 2.2 percent, the lowest level
since January 2000. The National Statistics Office report is due
tomorrow at 9 a.m. in Manila.
Read more at Bloomberg Currencies News
New Zealand Dollar May Fall as Housing Woes Spur Exit From Risky Bets
(Bloomberg) -- The New Zealand dollar may decline
today as concerns return about the U.S. subprime mortgage market,
deterring traders from riskier investments such as the carry
trade.
The trade, where investors borrow cheaply in yen to invest
in higher-yielding assets elsewhere, has seen the currency gain
25 percent against the yen in the past year, with investors
lured to the nation's record 8.25 percent benchmark rate. U.S.
stocks dropped Aug. 4 after Samuel Molinaro, chief financial
officer at Bear Stearns Cos. called the current crisis in fixed-
income the worst ever.
Read more at Bloomberg Currencies News
today as concerns return about the U.S. subprime mortgage market,
deterring traders from riskier investments such as the carry
trade.
The trade, where investors borrow cheaply in yen to invest
in higher-yielding assets elsewhere, has seen the currency gain
25 percent against the yen in the past year, with investors
lured to the nation's record 8.25 percent benchmark rate. U.S.
stocks dropped Aug. 4 after Samuel Molinaro, chief financial
officer at Bear Stearns Cos. called the current crisis in fixed-
income the worst ever.
Read more at Bloomberg Currencies News
Saturday, August 4, 2007
Canada's Dollar Strengthenens as Crude Oil Surges, Growth Accelerates
(Bloomberg) -- Canada's dollar rose, ending its two-
week losing streak, as crude oil prices touched a record high,
and economic growth accelerated in May.
Canada's currency has gained this year as the Bank of
Canada raised interest rates to stem inflation and cool the
expanding economy. The currency, up more than 11 percent against
the U.S. dollar this year, is the second-best performer among 16
most actively traded currencies, trailing only Brazil's real.
Read more at Bloomberg Currencies News
week losing streak, as crude oil prices touched a record high,
and economic growth accelerated in May.
Canada's currency has gained this year as the Bank of
Canada raised interest rates to stem inflation and cool the
expanding economy. The currency, up more than 11 percent against
the U.S. dollar this year, is the second-best performer among 16
most actively traded currencies, trailing only Brazil's real.
Read more at Bloomberg Currencies News
Friday, August 3, 2007
Dollar steady ahead of payrolls; credit still key
(Reuters) - The dollar steadied against major currencies on Friday, hugging tight ranges as investors shifted focus to upcoming U.S. employment data from the credit and stock market volatility that has dominated trading in recent weeks.
The monthly non-farm payrolls report could give a clearer picture of the health of the U.S. economy and help set the tone in currency markets for the next week.
Read more at Reuters Africa
The monthly non-farm payrolls report could give a clearer picture of the health of the U.S. economy and help set the tone in currency markets for the next week.
Read more at Reuters Africa
Rand softer vs dollar as risk aversion weighs
(Reuters) - South Africa's rand was weaker against the dollar in late Friday trade -- giving up its earlier gains -- as the greenback's own softness against the yen brought risky-asset jitters back to the fore.
At around 1510 GMT, the rand was trading at 7.1135 against the dollar, down 0.33 percent from New York's Thursday close of 7.09, having earlier strengthened to 7.0360 as some market players liquidated long dollar positions.
Read more at Reuters Africa
At around 1510 GMT, the rand was trading at 7.1135 against the dollar, down 0.33 percent from New York's Thursday close of 7.09, having earlier strengthened to 7.0360 as some market players liquidated long dollar positions.
Read more at Reuters Africa
`Uncle Ted' Stevens's Corruption Probe Imperils Federal Dollars for Alaska
(Bloomberg) -- The federal corruption investigation
of U.S. Senator Ted Stevens not only threatens the career of the
longest-serving Republican in Senate history, it also puts at
risk the billions of dollars that ``Uncle Ted'' steers to
Alaska.
``Republicans, Democrats, everybody still hopes that
nothing has gone wrong here, since he's so important to the
state,'' said Republican State Representative Ralph Samuels, the
majority leader in Alaska's House.
Read more at Bloomberg Exclusive News
of U.S. Senator Ted Stevens not only threatens the career of the
longest-serving Republican in Senate history, it also puts at
risk the billions of dollars that ``Uncle Ted'' steers to
Alaska.
``Republicans, Democrats, everybody still hopes that
nothing has gone wrong here, since he's so important to the
state,'' said Republican State Representative Ralph Samuels, the
majority leader in Alaska's House.
Read more at Bloomberg Exclusive News
Australian, New Zealand Dollars Rise as U.S. Stock Gain Lifts Carry Trade
(Bloomberg) -- The Australian and New Zealand
dollars gained for a second day against the yen as a rally in
U.S. stocks attracted investors to higher-yielding assets funded
by loans from Japan.
The two currencies headed for weekly gains, recovering from
two-month lows, as the Dow Jones Industrial Average had the
first two-day gain in two weeks. New Zealand's 7.75 percentage
point and Australia's 5.75 point interest-rate premium over
Japan make the currencies favorites for so-called carry trades.
Read more at Bloomberg Currencies News
dollars gained for a second day against the yen as a rally in
U.S. stocks attracted investors to higher-yielding assets funded
by loans from Japan.
The two currencies headed for weekly gains, recovering from
two-month lows, as the Dow Jones Industrial Average had the
first two-day gain in two weeks. New Zealand's 7.75 percentage
point and Australia's 5.75 point interest-rate premium over
Japan make the currencies favorites for so-called carry trades.
Read more at Bloomberg Currencies News
U.K. Pound Heads for Weekly Advance Versus Dollar as Carry Trade Resumes
(Bloomberg) -- The pound headed for a weekly gain
against the dollar as credit markets rebounded, prompting
investors to resume so-called carry trades.
The pound is also poised for its biggest advance against
the yen in six weeks as stocks recovered and traders bought
high-yielding currencies with loans from Japan. Investors added
to bets the Bank of England will raise interest rates at least
once more from 5.75 percent by year-end.
Read more at Bloomberg Currencies News
against the dollar as credit markets rebounded, prompting
investors to resume so-called carry trades.
The pound is also poised for its biggest advance against
the yen in six weeks as stocks recovered and traders bought
high-yielding currencies with loans from Japan. Investors added
to bets the Bank of England will raise interest rates at least
once more from 5.75 percent by year-end.
Read more at Bloomberg Currencies News
RBS profits up 11 percent
(Reuters) - The bank said income grew 8 percent to 14.7 billion pounds and costs as a percentage of revenue improved to 41.4 percent from 41.9 percent.
Profits in its U.S. banking arm Citizens fell 7 percent in sterling terms to 752 million pounds, but operating profit was up 2 percent before the impact of the weak dollar.
Read more at Reuters.com Business News
Profits in its U.S. banking arm Citizens fell 7 percent in sterling terms to 752 million pounds, but operating profit was up 2 percent before the impact of the weak dollar.
Read more at Reuters.com Business News
Tuesday, July 31, 2007
Vallourec Q2 earnings ahead of expectations
(Reuters) - It added that a further weakening of the dollar would reduce
the contributions of non-European units in group results.
Read more at Reuters.com Market News
the contributions of non-European units in group results.
Read more at Reuters.com Market News
Canada's Dollar Pares Early Gain as U.S. Currency Rises on Confidence Data
(Bloomberg) -- Canada's dollar retreated from early
gains, trading near the monthly low, as the U.S. dollar
strengthened after a report showing consumer confidence in the
world's largest economy jumped to the highest in almost six
years.
Earlier, the currency benefited as equity markets worldwide
rebounded and a report showed Canada's economy expanded in May.
The currency is poised to record its first monthly loss since
January as investors sold commodity-linked currencies on
concerns that the U.S. subprime lending losses will spread,
slowing the global growth.
Read more at Bloomberg Currencies News
gains, trading near the monthly low, as the U.S. dollar
strengthened after a report showing consumer confidence in the
world's largest economy jumped to the highest in almost six
years.
Earlier, the currency benefited as equity markets worldwide
rebounded and a report showed Canada's economy expanded in May.
The currency is poised to record its first monthly loss since
January as investors sold commodity-linked currencies on
concerns that the U.S. subprime lending losses will spread,
slowing the global growth.
Read more at Bloomberg Currencies News
Monday, July 30, 2007
Yen May Extend Decline Against Euro, Dollar as Stock Rally Encourages Risk
(Bloomberg) -- The yen may extend its decline
against the euro and dollar as a rebound in U.S. stocks might
restore investors' confidence to buy higher-yielding assets
funded by loans in Japan.
The Japanese currency dropped yesterday as rising U.S.
equities encouraged investors to resume the so-called carry
trade. Japan's yen has gained against all 16 major currencies
tracked by Bloomberg this month amid concern over subprime losses
and credit risks.
Read more at Bloomberg Currencies News
against the euro and dollar as a rebound in U.S. stocks might
restore investors' confidence to buy higher-yielding assets
funded by loans in Japan.
The Japanese currency dropped yesterday as rising U.S.
equities encouraged investors to resume the so-called carry
trade. Japan's yen has gained against all 16 major currencies
tracked by Bloomberg this month amid concern over subprime losses
and credit risks.
Read more at Bloomberg Currencies News
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