Most Asian stock markets rose on Monday, with Europe set to follow, as fears eased that Washington would draft a harsh bill for regulating the banking sector and after an unremarkable conclusion to a Group of 20 leaders' summit.
The yuan CNY=CFXS closed weaker against the dollar on Monday and traded below the People's Bank of China's mid-point as banks and their clients were cautiously balancing dollar positions in anticipation of only limited yuan appreciation after the G20 summit.
The dollar edged up on Monday after faltering in Asia on concerns about U.S. economic recovery, while the euro failed to make headway after a G20 summit failed to set markets alight.
The market showed little reaction to a Group of 20 leaders' summit where they agreed to take different paths to cutting budget deficits, a reflection of the uneven and fragile economic recovery in many countries.
Most Asian stock markets rose on Monday, with Europe set to follow, as fears eased that Washington would draft a harsh bill for regulating the banking sector and after an unremarkable conclusion to a Group of 20 leaders' summit.
Gold ticked higher on Monday, trading less than $10 shy of last week's record high, underpinned by worries about the global economy after the G20 summit and U.S. comments that Iran has fissile material for two atomic bombs.
The dollar was on the defensive on Monday as investors sought to cut long positions built in favour of the greenback, while the euro held gains as the focus shifted to the sustainability of a U.S. recovery from the euro zone debt woes.
The yuan CNY=CFXS weakened against the dollar on Monday and traded below the People's Bank of China's mid-point as banks and their clients were cautiously balancing dollar positions in anticipation of only limited yuan appreciation after the G20 summit.
Gold prices continued its northern journey in Asian trade Monday as uncertainty over global economic situation boosted its safe haven appeal.
Gold for immediate delivery was seen trading at $ 1256.84 an ounce at 11.30 a.m Singapore time while U.S. gold futures for August delivery was at $1,258.00 an ounce.
India's inflation is set to zoom with the announcement by the Manmohan Singh government on the freeing up of petrol and diesel prices. The announcement has raised hopes of a further decontrol of the oil sector over the next few years, which could help balance public finances and let private companies challenge state-run firms' decades-old retailing monopoly.
Oil touched its highest price in almost eight weeks on Monday, trading near $79 as tropical storm Alex forced Mexico to slow oil exports and some offshore U.S. producers to evacuate platforms and curb output.
Japan's Nikkei average fell 0.45 percent on Monday, with the dollar little changed against a basket of currencies, despite an upbeat sign for the macroeconomic outlook on Friday from U.S. consumer sentiment, which rose in June to its highest since January 2008.
Gluey gobs of thick oil from BP Plc's Gulf of Mexico spill washed ashore in Mississippi for the first time on Sunday as Russia called for a special levy on oil companies to finance a fund to help clean up environmental disasters like this one.
Group of 20 leaders pledged on Sunday to push for agreement on greater voting power for emerging economic powers in the International Monetary Fund by the next summit in Seoul, South Korea, in early November.
Stock investors will anxiously await the crucial June jobs data this week for clues on how the U.S. economy may weather recent storms that drove Wall Street's major indexes down for the year.
Gluey gobs of thick oil from BP Plc's Gulf of Mexico spill washed ashore in Mississippi for the first time on Sunday as Russia called for a special levy on oil companies to finance a fund to help clean up environmental disasters like this one.
Deficit pledges made by Group of 20 leaders on Sunday won't provide a big boost for financial markets, with uncertainty about the strength of global economic recovery still the larger concern for investors.
he Australian Dollar dealt above 0.8700 on Friday night as equity markets traded in a wide range.
World leaders ditched plans to welcome Beijing's shift toward greater exchange rate flexibility at a G20 summit in Toronto on Sunday, highlighting China's sensitivity over the issue.
World leaders agreed on Sunday to take different paths for cutting budget deficits and making their banking systems safer, a reflection of the uneven and fragile economic recovery in many countries.
Daily forex forecast 28/6/2010
World leaders agreed on Sunday to take separate paths toward shared goals of lasting growth and safer banks as two years of global crisis give way to a fragile economic recovery.
Europe must solve its sovereign debt crisis so as not to endanger the uneven global economic recovery, which is led by China and emerging economies, central bankers said on Sunday.
The Atlantic hurricane season's first named storm posed an uncertain threat to the Gulf of Mexico on Sunday, as a report said relief wells may halt the worst U.S. oil spill ahead of schedule.