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Yen climbs, Asian stocks slip as uncertainty grows

The yen neared a 7-1/2-month high and Asian stocks slid on Thursday after comments by the head of the Federal Reserve added to concerns about the U.S. economy, causing investors to dump riskier assets ahead of European bank stress test results.

Gold slips on equities

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Gold slipped more than half a percent on Thursday and could revisit its weakest level in two months as investors sold bullion to cover equities losses ahead of Europe's bank stress test results this week. Gold has fallen more than 6 percent since hitting a lifetime high around $1,264 an ounce in late June on worries the debt crisis in Europe would spread.

Now, Ireland to help gold prices rise

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Now, will Ireland help gold prices go up? It seems so. When Dubai economic crisis unraveled, gold prices zoomed. When Greece economic tragedy came to the light, gold prices soared. Now, Moody's Investors Service downgraded Ireland one notch, to Aa2 from Aa1, although it remained comfortably above junk level. Moody's also changed the outlook on the ratings to stable from negative.
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Yen gains, Asian stocks slide on growing uncertainty

The yen neared a 7-1/2-month high and Asian stocks slid on Thursday after comments by the head of the Federal Reserve added to concerns about the U.S. economy, causing investors to dump riskier assets ahead of European bank stress test results.
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Austerity hurts consumers in Europe but Asians upbeat

A drop in consumer confidence in Europe amid worries about the region's debt crisis is holding back a recovery in global consumer sentiment and weighing on the broader economic outlook, a survey showed on Sunday.
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Dollar falls on weak U.S. data, euro short squeeze

The U.S. dollar fell broadly on Thursday, with the euro soaring to a two-month high above $1.29 as soft inflation and manufacturing data added to concern about the strength of the U.S. economy. Data showing a third straight monthly decline in producer prices came a day after Federal Reserve meeting minutes revealed policymakers think they may need to do more to boost the economy if a sputtering recovery slows any further.
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U.S. growth worries hit dollar, euro nears $1.29

The dollar hit a two-month low against the euro and a basket of major currencies on Thursday as soft inflation and manufacturing data added to concern about the strength of the U.S. economy. Data showing third straight monthly decline in producer prices came a day after Federal Reserve meeting minutes revealed policymakers think they may need to do more to boost the economy if a sputtering recovery slows any further.
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Gold set to ride Portugal wave again

Gold thrives on tragedies. And, it has proved once again that any economic crisis will help gold rise. This is the turn of Portugal, which is facing economic crisis like Greece. As the news spread about Portugal's economic woes, gold prices surged on Monday and Tuesday.
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Gold prices mixed after overnight gains

Gold remained highly volatile in Asian trade Wednesday as prices mixed from overnight gains. Spot gold was seen trading at $ 1211.68 an ounce at 11.30 a.m Singapore time while U.S. gold futures for August delivery was at $ 1212.02 am ounce on the Comex.
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Asian stocks powered by Intel

Asian stocks rose to a three-week high on Wednesday, led by gains in tech shares after Intel's results beat market expectations, while the euro held firm near two-month peaks against a softer U.S. dollar.
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Asia stocks powered by Intel

Asian stocks rose to a three-week high on Wednesday, led by gains in technology issues after Intel's results beat market expectations, while the euro held firm near two-month peaks against a softer U.S. dollar.
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Daily Forex Forecast 14/7/2010

The Australian Dollar climbed to its highest level in 3 weeks overnight as equities bounced upon expectations US corporate earnings will beat estimates.
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Wall Street gains on strong earnings

Stocks rallied on Tuesday, rising for a sixth consecutive session, after Alcoa Inc reported stronger-than-expected profit and raised its estimate for global aluminum demand.
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Markets advance as Alcoa lifts earnings optimism

Stocks climbed on Tuesday, with all indexes briefly above 1 percent after better-than-expected results from Alcoa Inc and CSX Corp gave a promising start to the earnings season and sparked a broad rally.
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Euro rises vs dollar, inflation data boosts pound

The euro rose on Tuesday after a smooth Greek treasury bill auction helped ease some concerns about Europe's debt crisis and took some of the sting out of another credit rating downgrade for Portugal. A strong start to U.S. corporate earnings season also boosted general appetite for risk, traders said, while data showing the U.S. trade deficit widened unexpectedly in May weighed on the dollar.
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Gold rises above $1,215/oz on euro zone concerns

Gold rose nearly 2 percent to $1,217.60 an ounce in Europe on Tuesday after a ratings agency downgrade of Portugal knocked the euro, boosting the metal's appeal as a hedge against currency market volatility.
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Greece passes T-bill sale test; euro, banks stocks rise

Greece passed its first borrowing test on Tuesday since a giant EU/IMF funding deal in May, sending bank stocks and the euro higher after it easily sold 1.625 billion euros ($2.03 billion) of 6-month T-bills. The debt-ridden country managed to get market funding at a slightly cheaper cost than the 5.0 percent it pays to borrow under the 110 billion euro loan that the European Union and International Monetary Fund put in place to calm a crisis that has shaken the euro zone.
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Moody's cuts Portugal rating

Moody's Investor Service cut Portugal's debt rating by two notches on Tuesday, saying its growth prospects were weak and it might need new austerity measures next year to hit tough fiscal targets.

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