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US Session – Euro hits $1.32

Posted on April 16, 2013 at 8:29 pm GMT

Currency markets were calmer today as risk sentiment picked up after Monday’s turmoil which led to large declines in risk currencies and gold and pushed the safe haven yen up. Yen weakness resumed today, while euro rebounded to a near two-month high above $1.31. Gold moved off a two-year low hit yesterday when the metal plunged the most in a day in over twenty years. Monday’s risk aversion was triggered by weak growth data from China, the world’s second largest [..]

European Session – Euro rallies sharply against dollar to above $1.31

Posted on April 16, 2013 at 12:22 pm GMT

The European Session on Tuesday was more active and upbeat, seeing a turnaround in sentiment compared to Monday’s gloomy market which saw risk currencies fall sharply. This led to a strong surprise rally in the euro against the dollar, despite weaker than expected German ZEW data. The German sentiment index for economic expectations fell in April for the first time in five months. Yesterday’s dismal China GDP data which dominated the market sentiment and weighed on euro, has faded away [..]

Asian Session – Yen makes early jump before falling

Posted on April 16, 2013 at 5:17 am GMT

The Asian session began with another sell off in the dollar – yen, as risk sentiment was dampened following weak US economic data which showed manufacturing in New York State fell more than expected in April, causing concern that the world’s largest economy may be losing momentum. Meanwhile, disappointing GDP data from China on Monday caused a shift of demand to safe haven assets like yen. The Japanese currency made the biggest two-day gain since March. USDJPY plunged to a [..]

US Session – Dollar extends losses against yen after weak data

Posted on April 15, 2013 at 7:22 pm GMT

Risk aversion due to weak China GDP numbers was the dominant theme in the markets on Monday, sending the safe haven yen higher for a second day. Also helping lift yen was better than expected industrial production data out of Japan for February, which was in sharp contrast to the Chinese factory output. China’s first quarter GDP fell more than expected, raising concern that the world’s second largest economy is slowing down. Adding to the damp sentiment was disappointing US [..]

Forex News – Gold hits 2-year low

Posted on April 15, 2013 at 12:15 pm GMT

Gold fell 5 percent on Monday to hit a two-year low, as a sell off was accelerated by disappointing economic data from China this morning, which showed grwoth in the world’s second largest economy is slowing down. Gold prices tumbled to $1,385.45 in the European trading session today, down from an earlier high of $1,459.03. Since Friday the precious metal has declined 10 percent, and has lost 26 per cent since hitting a record high of $1,920 a troy ounce [..]

European Session – Euro under pressure, gold tumbles to 2-year low

Posted on April 15, 2013 at 11:39 am GMT

Euro remains weak against the dollar, after tumbling in early trading due to risk aversion following weak China growth data. Yen rose due to its safe haven status as investors flee to safety. EURUSD fell to a session low of $1.3051, down from the open of $1.3072, ending the session flat. USDJPY slid to 97.70 in the Europe trade. Earlier in the Asian session the pair reached a low of 97.54.EURJPY fell to 127.65 yen. Also helping the yen rally [..]

Asian Session – Yen gains on safe haven demand after weak China data

Posted on April 15, 2013 at 6:07 am GMT

Risk appetite dropped in Monday’s Asian session after disappointing GDP data from China, causing a shift of demand to safe haven assets like yen and dollar. China’s first quarter growth printed at 7.7 percent which was lower than the 8.0 percent predicted and down from the previous quarter’s 7.9 percent. China is the world’s second largest economy, so any slowdown in their recovery is cause for concern. Adding to the weak growth numbers was also a decline in factory output [..]

US Session – USDJPY tumbles on weak US retail sales and sentiment data

Posted on April 12, 2013 at 3:59 pm GMT

The dollar plunged against the yen on Friday after weak US economic data raised concerns that economy is struggling to recover and hasn’t performed as well as some analysts believed recently. Americans view of the US economy has grown more pessimistic, as shown by the Thomson Reuters/University of Michigan preliminary index of consumer sentiment which dropped to a nine-month low. The survey showed the index fell to 72.3 in April from 78.6 a month earlier. Tax hikes early this year [..]

European Session – Euro falls; focus is on Eurogroup meeting

Posted on April 12, 2013 at 1:04 pm GMT

Currency markets in the European Session had the Friday cautious mood and investors were favouring risk aversion, driving weakness in risk currencies like euro. Therefore, this helped buoy the US dollar which was broadly stronger, except against the yen. There was an absence of tier one economic data today during the European session, nothing that was worth moving markets. In early US session, US retail sales numbers were released, missing estimates. Retail sales in March fell unexpectedly the most in [..]

Asian Session – Dollar weakens against yen, US retail sales in focus

Posted on April 12, 2013 at 6:00 am GMT

After such a strong rally in the dollar against the yen this week, the USDJPY moved off a four-year high of 99.93 yen hit in late US session trading yesterday. Profit taking brought the pair down to a low of 99.34. Yen is expected to remain weak overall due to recent monetary policy measures adopted by the Bank of Japan to stimulate the Japanese economy and fight deflation. Meanwhile the dollar was lifted yesterday after a drop in initial US [..]

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