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Market Review - 25/12/2013 01:32GMT
Dollar firms broadly in thin pre-X'mas holiday trade
U.S. dollar strengthened against the euro in holiday-thinned trade on Tuesday, after stronger-than-expected U.S. durable goods data added to the view that economic recovery is gaining momentum. Later, although new home sales fell by 2.1% to a seasonally adjusted 464,000 units last months, the data was still higher than expectation of an increase of 445,000.
During the day, although euro rose briefly to 1.3714 in Australia morning on Tuesday, cross related selling interest of euro pressured price in Asian and European sessions and the single later dropped to 1.3655 in New York morning after the release of better-than-expected U.S. economic data before stabilizing.
Versus the Japanese yen, dollar initially climbed higher to 104.41 in Asia on risk appetite but retreated later in tandem with the pullback in Nikkei 225 index. The pair dropped to 104.14 in early European trading before broad-based rebound in greenback lifted price back up to 104.36 in New York morning. Dollar settled at 104.20 near New York close.
Cable edged lower from Asian high of 1.6357 to 1.6323 in European morning, however, cross buying of sterling especially versus euro emerged ahead of Friday's low of 1.6316 and price later lifted to a fresh intra-day high of 1.6383 in New York before easing.
On the data front, report from INSEE showed French gross domestic product contracted at an 0.1 per cent quarter-on-quarter clip during the three months ended in September. In a separate report, mortgage approvals in the U.K. rose 45,000 in November from October's revised total of 43,300, more-than-expected and hit the highest level since December 2009.
No major economic data is released on Wednesday. Australia, New Zealand, France, U.K., Swiss, Germany, U.S. and Canada financial market are closed for Christmas Day holiday.
Japan manufacturing PMI, BOJ MPC minutes, housing starts, construction orders, U.S. jobless claims. on Thursday. Australia, New Zealand, Germany, France, U.K. Canada financial markets are closed due to boxing day.
Japan household spending, unemployment rate, CPI, industrial production, retail sales, France PPI on Friday.
Dollar firms broadly in thin pre-X'mas holiday trade
U.S. dollar strengthened against the euro in holiday-thinned trade on Tuesday, after stronger-than-expected U.S. durable goods data added to the view that economic recovery is gaining momentum. Later, although new home sales fell by 2.1% to a seasonally adjusted 464,000 units last months, the data was still higher than expectation of an increase of 445,000.
During the day, although euro rose briefly to 1.3714 in Australia morning on Tuesday, cross related selling interest of euro pressured price in Asian and European sessions and the single later dropped to 1.3655 in New York morning after the release of better-than-expected U.S. economic data before stabilizing.
Versus the Japanese yen, dollar initially climbed higher to 104.41 in Asia on risk appetite but retreated later in tandem with the pullback in Nikkei 225 index. The pair dropped to 104.14 in early European trading before broad-based rebound in greenback lifted price back up to 104.36 in New York morning. Dollar settled at 104.20 near New York close.
Cable edged lower from Asian high of 1.6357 to 1.6323 in European morning, however, cross buying of sterling especially versus euro emerged ahead of Friday's low of 1.6316 and price later lifted to a fresh intra-day high of 1.6383 in New York before easing.
On the data front, report from INSEE showed French gross domestic product contracted at an 0.1 per cent quarter-on-quarter clip during the three months ended in September. In a separate report, mortgage approvals in the U.K. rose 45,000 in November from October's revised total of 43,300, more-than-expected and hit the highest level since December 2009.
No major economic data is released on Wednesday. Australia, New Zealand, France, U.K., Swiss, Germany, U.S. and Canada financial market are closed for Christmas Day holiday.
Japan manufacturing PMI, BOJ MPC minutes, housing starts, construction orders, U.S. jobless claims. on Thursday. Australia, New Zealand, Germany, France, U.K. Canada financial markets are closed due to boxing day.
Japan household spending, unemployment rate, CPI, industrial production, retail sales, France PPI on Friday.
