The price of oil tumbled by well over $1 a barrel during afternoon trading yesterday, after the US Crude Oil Inventories figure came in well above analyst expectations. The US data is typically used by investors to gauge demand in the world's leading oil consuming country. After falling as low as $87.42 a barrel, crude staged a minor upward correction to reach the $87.60 level....
Risk taking in the marketplace due to positive euro-zone news sent the price of gold up more than $25 an ounce yesterday. A bullish euro typically leads to gains for gold, as it becomes cheaper for international buyers. The precious metal peaked at $1605.83 during mid-day trading...
Positive comments from an official at the European Central Bank regarding the euro-zone's ability to combat the debt crisis in the region resulted in risk taking in the marketplace, which in turn led to broad gains for the common currency. The EUR/USD was up over 100 pips over the...
Earlier in the Asian session, the Euro struck a 2-week peak against the U.S. Dollar as recent clearer signs of stabilization in the Eurozone helped to support the common currency. As reported at 1:56 p.m. (JST) in Tokyo, the Euro was trading up 0.3% to $1.3269, leveling off from the earlier high of $1.3285, a level not seen since March 8th. One currency analyst based in Singapore...
European stocks continue to fall while Spanish bond yields continue to rise on the concern of the European debt crisis that will affect global growth. The Japanese Yen is continuing to rise against the Dollar which was near an 11 year high against the Euro. The Bank of Japan may be expanding easing measures in the coming months, depending on the level of the Japanse Yen, according...
China’s Flash PMI data for February showed a surprising contraction, an event which pushed the Australian Dollar lower against the U.S. Dollar. As reported at 1:30 p.m. (JST) in Tokyo, the Australian Dollar was trading at $1.0383, a 0.7% decline and the lowest point in nearly 2-months. Ahead of the data release, the AUD/USD pair was trading at $1.044.
While a slowdown China is...
As Tokyo-based importers took advantage of the earlier rally, the Japanese Yen saw some slight weakening during the Asian trading session but the newly raised concerns over global growth are likely to send investors back to safe haven currencies. Risk currencies, such as the Australian Dollar, look set to end this week sharply lower as new concerns about the global economy recovery...
