The euro hit a two-week high above $1.23 on Tuesday as solid demand at European debt auctions eased worries about the region's fiscal crisis and prompted investors to cover short positions in the currency
The euro rallied to a two-week high against the dollar on Tuesday as solid demand at European debt auctions soothed worries about the debt crisis and prompted investors to cover short positions in the single currency on increased risk appetite.
Investors could be forced to sell billions of euros of Greek government bonds after Barclays Capital and Citigroup strip GGBs from indices following Moody's downgrade of the sovereign credit to junk status.
European policymakers sought to squash talk of a euro zone rescue for Spain on Tuesday as the country saw its borrowing costs rise in a debt auction ahead of an EU summit to discuss steps to fix the currency bloc.
Spain's and Portugal's fiscal tightening plans this year and next are appropriately ambitious, the European Commission said, as it approved progress in fiscal consolidation also in 10 other European Union countries.
Oil rose toward $76 on Tuesday, drawing support from forecasts of reduced crude stockpiles in the United States, but wary after a Greek sovereign debt downgrade that underlined the extent of the euro-zone crisis.
Foreign investors reduced purchases of long-term U.S. securities in April but remained net buyers, while China raised its U.S. Treasury holdings for a second straight month, the Treasury Department said Tuesday.
Financial markets have overreacted to the euro area's sovereign debt problems, though they are likely to keep testing the region's commitment to the single currency, credit rating agency Fitch s
The euro turned higher on Tuesday as solid demand at debt auctions eased concerns about euro zone debt problems after Monday's downgrade of Greece to junk status by Moody's ratings agenc
The global economic recovery is likely to be slow and tortuous and China faces risks from a multitude of factors including trade protectionism and bad real estate loans, China's Banking Regulatory Commission (CBRC) said on Tuesday.
The euro's rally showed signs of fading on Tuesday, with investors taking profits and sentiment towards the single currency staying fragile as debt worries returned after Moody's cut Greece's credit rating to junk grade.
Asian stocks slipped on Tuesday, snapping a five-day winning streak, as worries about Europe's debt problems returned after Greece was downgraded to junk status, a move which also stymied the euro's rally.
The euro advanced further to hit a session high against the U.S. dollar in late morning trade on Monday as stock gains accelerated, boosting risk appetite.
India's headline inflation unexpectedly accelerated in May, heightening expectations the Reserve Bank of India (RBI) would raise rates before its scheduled July review despite concerns over Europe's debt crisis.
The euro rose broadly on Monday as gains in global stock markets lifted risk appetite and prompted traders to pare back bets against the single euro-zone currency.
The euro moved further away from a recent four-year low to trade above $1.2250 -- its highest in more than a week. Stronger-than-expected euro zone industrial output further boosted the currency.
Good morning dear traders, welcome in a new trading week. There was not much action last Friday in EURUSD. In comparison to EURUSD the Cable had a real moving down after bad news of UK.
Europe's sovereign debt crisis has not pushed back the timing of a hike in the Federal Reserve's benchmark interest rate, St. Louis Federal Reserve Bank President James Bullard said on Monday. Bullard, a voting member of the Fed's rate-setting panel, also said that U.S. inflation is contained now but could become a risk in the midterm due to the large U.S. budget deficit and the Fed's ultra-easy monetary policy.
The euro rose on Monday after a burst of short-covering lifted the single currency above $1.22 and further away from a four-year low, but traders were wary about chasing gains and expected its downtrend to continue. The Australian dollar climbed to its highest in a month above $0.8560, extending a rally from late last week on improved risk tolerance and tackling the first layer in a band of resistance at $0.8550-80 which is blocking its path to higher ground.
The euro's short-covering rally took it briefly above $1.22 to its strongest in a week on Monday, although traders were wary about driving it too far, while the Australian dollar climbed to its highest point in four weeks.
Proposed U.S. legislation aimed at punishing China unless it lets the yuan rise would not be in line with World Trade Organisation rules, China's Ministry of Commerce said on Saturday.
In the past few years the over the counter foreign exchange (Forex) market has gained tremendous popularity.
Mexico's peso slipped from a three-week high on Friday after an unexpected drop in May U.S. retail sales dented the outlook for Mexican exports.
The peso MXN=MEX01 lost 0.36 percent to 12.7309 per U.S. dollar.
The dollar surrendered gains against the yen on Friday after data showing a surprise drop in U.S. retail sales last month dented risk appetite and raised questions about the strength of recovery.
The euro rose on Friday on the back of higher stocks, but the single currency struggled to extend its short-covering rally versus the dollar due to technical resistance and options-related selling.
The European Union should have stepped in earlier than it did with a rescue package for Greece, European Central Bank board member Nout Wellink said on Friday.
Like the risk-on, risk-off volatility that has buffeted global markets this year, China's currency policy has been subjected to bouts of pressure and criticism from abroad interspersed with periods of calm.
We expect the strong export numbers in May to increase international pressure on the currency issue. On the other hand, the weakened euro and domestic wage pressures are likely to limit the size of any appreciation in the near term.
The euro was supported on Friday on the back of higher stocks, but the single currency struggled to extend its short-covering rally versus the dollar ahead of technical resistance, while options barriers also capped gains.
The euro ran into headwinds above $1.21 on Friday, as profit-booking set in when it failed to push through hefty resistance, and investors took a lack of surprises in Chinese data to book gains in the Aussie dollar.
Japan's new Finance Minister Yoshihiko Noda said on Friday he had agreed with U.S. Treasury Secretary Timothy Geithner in a phone call earlier in the day to closely monitor developments in Europe.
