Asian stocks on Friday slid for a fourth straight session, driven by expectations of tighter financial regulation ahead of the weekend G20 meeting and uncertainty about the global economic recovery.
The yen rose broadly and stayed near a 1-month high against the dollar on Friday on short covering, and as falls in regional share markets prompted traders to further sell risky currencies such as the Australian dollar.
The gold hysteria has hit Australia hard as investors dump paper money and turn to precious metals as a source of diversification of their wealth, according toGeorge Vo, Precious Metals Sales Manager of Gold De Royale, Australia's premier retailer for Swiss precious metals. With gold prices hitting an all time high at US$1,266.50 an ounce, investors bought Swiss precious metals as a hedge against financial turbulence caused by Europe's debt crisis.
Buyout funds are making a comeback, scouring deals from Australia to America after nearly two years of virtual shutdown, but private equity-backed M&A volumes remain far short of the boom times.
After a brief rally yesterday, the AUD has fallen back through USD0.8700 as risk aversion trading was back in play.
The dollar and yen rose against the euro on Thursday as a less optimistic outlook on growth from the U.S. Federal Reserve dented investors' appetite for risk, with the euro further hampered by Greek debt markets.
Concerns over Greece were hanging over the euro zone, as the cost of protecting its government debt against default hit a record high.
European policymakers defended budget austerity plans on Thursday ahead of a G20 summit set to pit calls for fiscal restraint against warnings that heavy cost-cutting threatens recovery.
The dollar pared losses and the yen rose on Thursday, as a less optimistic outlook on growth from the U.S. Federal Reserve dented investors' appetite for risk, while the euro was hampered by Greek debt markets.
The dollar pared losses and the yen rose on Thursday, as the Federal Reserve's less optimistic outlook for growth dented risk sentiment, while the euro was hampered by Greek debt markets.
Asian stocks firmed on Thursday, lifted by gain in miners on expectations Australia's government would compromise on a controversial mining tax, while the U.S. dollar eased after the Federal Reserve said the economic recovery was faltering.
he AUD continues to trade close to the top of its recent trading range, supported by the currency control changes out of China.
Veteran hedge fund manager Bill Browder is buying commodities and the companies that produce them in emerging markets to profit from what he called a looming crisis in the world's major currencies.
Asian stocks slid on Wednesday and European markets were expected to follow suit as poor U.S. home sales added to fears about the global economic recovery and optimism over China's new flexible yuan policy faded.
Asian stocks slid on Wednesday as an unexpected fall in U.S. home sales added to worries about the fragility of the global economic recovery and optimism over China's promise to make the yuan more flexible faded further.
The Australian dollar lost ground overnight falling a cent to USD0.8700 in a volatile offshore trading session following weaker US housing data and concerns over Europe.
Apple Inc said on Tuesday it sold 3 million iPads since the touch-screen tablet computer hit the market less than three months ago, boosting its stock two days before the company's iPhone arrives on store shelves.
The Aussie broke past 0.8850 US early offshore last night after China's announcement saw commodities prices climb to a five week high.
The AUD has opened lower this morning currently trading around USD0.8765 as profit taking entered the market following the announcement from the Chinese central bank regarding the Chinese Yuan.
When Philip Mould began as a professional art dealer 22 years ago, the buying and selling of high-end artwork was confined to a small group of well-versed art historians who scoured the globe in search of masterpieces.
Rio Tinto and BHP Billiton moved closer to a $116 billion iron ore joint venture after the Western Australia government approved the plan in return for payment of higher mining royalties, a deal that undermines Prime Minister Kevin Rudd's planned mining super tax.
Rio Tinto and BHP Billiton moved closer to a $116 billion iron ore joint venture after the Western Australia government approved the plan in return for payment of higher mining royalties, a deal that undermines Prime Minister Kevin Rudd's planned mining super tax.
China's yuan surged on Monday by the most of any day since its landmark revaluation in 2005, sending a clear signal ahead of this weekend's G20 summit that Beijing is keeping to its word and allowing greater currency flexibility.
