The euro and Australian dollar rebounded from early losses against the dollar and yen on Tuesday after a statement by Australia's central bank helped dispel some gloom about the economic outlook and led to short-covering.
The managers of China's hoard of currency reserves defended their investment record on Tuesday, saying they had avoided big losses during the global crisis and voicing confidence they could achieve stable long-term returns.
The dollar and the yen gained in thin trade as investors reduced risk positions on Tuesday, while the Australian dollar fell ahead of a central bank decision where it is widely expected to be keep interest rates steady.
China has boosted its purchases of Japanese government bonds this year, snapping up a net 541 billion yen ($6 billion) of mostly short-term JGBs in January-April, double the record amount logged for all of 2005, the Nikkei business daily reported.
Gold prices eased further in Asian trade Tuesday as the dollar strengthened against the euro amid weak equity markets.
Gold for immediate delivery was seen trading at $ 1205.89 an ounce at 12.00 noon Singapore time while U S gold futures for August delivery was at 1206.02 an ounce.
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Asian stocks reversed course and inched up on Tuesday taking heart from gains in the Chinese market led by property and bank stocks, while the Australian dollar dribbled higher after the central bank sounded cautiously optimistic on the economic outlook.
Agricultural Bank of China, the country's No.3 bank by assets, is set to price its dual Hong Kong and Shanghai IPO late on Tuesday, determining whether it will become world's largest ever share offer.
Citigroup Inc is weighing moving about two dozen proprietary traders to desks that trade with clients as some banks try to find new positions for star traders amid financial regulation overhaul, the Wall Street Journal reported on Monday.
Fujitsu Ltd, Japan's biggest IT services firm, said on Tuesday that it would allow software developers to run their programs on its hardware free of charge so that they can examine performance.
News Corp is in talks with Google Inc, Microsoft Corp and Yahoo Inc about advertising on MySpace, as an existing contract with Google ends, the Wall Street Journal reported on Monday.
A Bank of America Corp board member wanted an outsider to take over as chief executive in December but eventually gave in to backing Brian Moynihan for the post, the Wall Street Journal reported on Monday.
Asian stocks slipped on Tuesday on growing investor concerns of slower economic growth in the United States and China, the main pillars of the world economy, and fading risk appetite sent the yen up against the dollar and the euro.
Shareholders in BP balked on Monday at reports the energy giant would seek a strategic investor to ward off takeover bids while the company's massive oil spill in the Gulf of Mexico spread.
The last 24 hours has seen the AUD hold a relatively tight trading range, with expectations that this will continue today until the RBA interest rate decision due to be released at 2:30pm (AEST).
The Australian Dollar opens lower on Tuesday at 0.8390 ahead of today's monthly board meeting of the Reserve Bank of Australia (RBA).
Google Inc. has fixed a flaw in the YouTube code that allowed hackers to redirect users of the popular video-sharing site to adult websites and launch fake pop-up messages.
Shareholders in BP balked Monday at reports it would seek a strategic investor to ward off takeover bids, as the clean-up costs of its massive U.S. oil spill topped $3 billion.
Senior executives from around the world are holding off on major fund-raising plans as they wait for global economies to stabilize further, a study by the Economist Intelligence Unit for Royal Bank of Canada shows.
Results of the stress tests imposed on European Union banks should be completely transparent to help boost confidence in the bloc's economy, the EU's monetary affairs chief said on Monday.
Kohlberg Kravis Roberts & Co is moving closer to gaining its long-sought New York Stock Exchange listing, with a filing expected as early as Tuesday which should detail compensation for top executives at the private equity firm, a source familiar with the situation said.
World stock and oil prices fell on Monday on growing concerns of slowdowns in the United States and China -- the two main pillars of global growth, though the dollar was off its two-month low.
Greece is confident it will meet its target to cut the budget deficit by 40 percent to 8.1 percent of economic output this year but risks remain on revenue growth targets, its Finance Minister said on Monday.
World stock and oil prices fell on Monday on growing concerns of slowdowns in the United States and China -- the two main pillars of global growth, though the dollar was off its two-month low.
The European Central Bank faces a grilling on Thursday on the euro zone's recovery outlook, bank stress tests and its liquidity operation plans.
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Greece is confident it will meet its target to cut the budget deficit by 40 percent to 8.1 percent of economic output this year but risks remain on revenue growth targets, its Finance Minister said on Monday.
If you ask who controls the gold business in India, the only answer is Gujaratis. In India, bullion market is totally under the control of Gujaratis whether it is in Mumbai or Delhi.
The euro fell in subdued trade on Monday after hitting a six-week high on weak U.S. jobs data late last week, while the dollar steadied against a currency basket.
Traders were wary of chasing the dollar lower with U.S. markets closed on Monday for Independence Day.
