acetraderfx
AceTrader.com Representative
- Messages
- 1,109
Market Review - 09/04/2013 21:32GMT
Yen recovers from fresh near 4-year low on profit-taking and euro rises vs usd
The greenback slipped against the Japanese currency after extending its recent bull-run to a fresh near 4-year low on profit-taking.
Versus the Japanese yen, although the greenback continued its recent 'bull-run' to fresh near 4-year peak at 99.67 ahead of Asian open, profit-taking offers and option barrier at 99.75 capped intra-day gain and price retreated to 98.71 in early European morning. Dollar traded sideways and briefly edged lower to session low at 98.58 in New York morning before staging a rebound to 99.35 in New York afternoon.
Although the single currency found strong buying interest at Asian open and rose to 1.3068 after tripping large stops abv 1.3050, lack of follow-through buying caused price to pare intra-day gain and retreated to an intra-day low at 1.3005 in early European morning, due partly to cross selling of euro against sterling (eur/gbp fell from 0.8560 to 0.8508). However, euro found renewed buying there and rebounded to 1.3074 in New York morning due to the rise in European bourses and eventually climbed to an intra-day high at 1.3103 in New York afternoon.
The British pound traded sideways in Asia and rose to 1.5325 in European morning after UK industrial production increased in February more than economists forecast, boosting speculation the nation will avoid a triple-dip recession. Despite a pullback to 1.5281 in New York morning, cable rose to an intra-day high at 1.5342 in New York afternoon before stabilising.
U.K. industrial output expanded by 1% in February, after dropping 1.3% the previous month.
In other news, Spain's Economy Minister Luis de Guindos said 'worried about fragmentation of financial markets in Europe, something shud be done by ECB.' Italy centre-left official said 'meeting between Bersani n Berlusconi was good, but we are at the beginning.'
On the data front, Germany trade balance came in at 16.8 billion euros versus forecast of 156.6 billion. U.S. wholesale inventories were reported at -0.3%, lower than expectations of 0.5%.
Data to be released on Wednesday :
Australia Westpac consumer confidence, China export, import, trade balance, France industrial production, manufacturing production, Italy industrial production, manufacturing production and U.S. Fed budget.om fresh near 4-year low on profit-taking and euro rises vs usd[/B]
The greenback slipped against the Japanese currency after extending its recent bull-run to a fresh near 4-year low on profit-taking.
Versus the Japanese yen, although the greenback continued its recent 'bull-run' to fresh near 4-year peak at 99.67 ahead of Asian open, profit-taking offers and option barrier at 99.75 capped intra-day gain and price retreated to 98.71 in early European morning. Dollar traded sideways and briefly edged lower to session low at 98.58 in New York morning before staging a rebound to 99.35 in New York afternoon.
Although the single currency found strong buying interest at Asian open and rose to 1.3068 after tripping large stops abv 1.3050, lack of follow-through buying caused price to pare intra-day gain and retreated to an intra-day low at 1.3005 in early European morning, due partly to cross selling of euro against sterling (eur/gbp fell from 0.8560 to 0.8508). However, euro found renewed buying there and rebounded to 1.3074 in New York morning due to the rise in European bourses and eventually climbed to an intra-day high at 1.3103 in New York afternoon.
The British pound traded sideways in Asia and rose to 1.5325 in European morning after UK industrial production increased in February more than economists forecast, boosting speculation the nation will avoid a triple-dip recession. Despite a pullback to 1.5281 in New York morning, cable rose to an intra-day high at 1.5342 in New York afternoon before stabilising.
U.K. industrial output expanded by 1% in February, after dropping 1.3% the previous month.
In other news, Spain's Economy Minister Luis de Guindos said 'worried about fragmentation of financial markets in Europe, something shud be done by ECB.' Italy centre-left official said 'meeting between Bersani n Berlusconi was good, but we are at the beginning.'
On the data front, Germany trade balance came in at 16.8 billion euros versus forecast of 156.6 billion. U.S. wholesale inventories were reported at -0.3%, lower than expectations of 0.5%.
Data to be released on Wednesday :
Australia Westpac consumer confidence, China export, import, trade balance, France industrial production, manufacturing production, Italy industrial production, manufacturing production and U.S. Fed budget.
Yen recovers from fresh near 4-year low on profit-taking and euro rises vs usd
The greenback slipped against the Japanese currency after extending its recent bull-run to a fresh near 4-year low on profit-taking.
Versus the Japanese yen, although the greenback continued its recent 'bull-run' to fresh near 4-year peak at 99.67 ahead of Asian open, profit-taking offers and option barrier at 99.75 capped intra-day gain and price retreated to 98.71 in early European morning. Dollar traded sideways and briefly edged lower to session low at 98.58 in New York morning before staging a rebound to 99.35 in New York afternoon.
Although the single currency found strong buying interest at Asian open and rose to 1.3068 after tripping large stops abv 1.3050, lack of follow-through buying caused price to pare intra-day gain and retreated to an intra-day low at 1.3005 in early European morning, due partly to cross selling of euro against sterling (eur/gbp fell from 0.8560 to 0.8508). However, euro found renewed buying there and rebounded to 1.3074 in New York morning due to the rise in European bourses and eventually climbed to an intra-day high at 1.3103 in New York afternoon.
The British pound traded sideways in Asia and rose to 1.5325 in European morning after UK industrial production increased in February more than economists forecast, boosting speculation the nation will avoid a triple-dip recession. Despite a pullback to 1.5281 in New York morning, cable rose to an intra-day high at 1.5342 in New York afternoon before stabilising.
U.K. industrial output expanded by 1% in February, after dropping 1.3% the previous month.
In other news, Spain's Economy Minister Luis de Guindos said 'worried about fragmentation of financial markets in Europe, something shud be done by ECB.' Italy centre-left official said 'meeting between Bersani n Berlusconi was good, but we are at the beginning.'
On the data front, Germany trade balance came in at 16.8 billion euros versus forecast of 156.6 billion. U.S. wholesale inventories were reported at -0.3%, lower than expectations of 0.5%.
Data to be released on Wednesday :
Australia Westpac consumer confidence, China export, import, trade balance, France industrial production, manufacturing production, Italy industrial production, manufacturing production and U.S. Fed budget.om fresh near 4-year low on profit-taking and euro rises vs usd[/B]
The greenback slipped against the Japanese currency after extending its recent bull-run to a fresh near 4-year low on profit-taking.
Versus the Japanese yen, although the greenback continued its recent 'bull-run' to fresh near 4-year peak at 99.67 ahead of Asian open, profit-taking offers and option barrier at 99.75 capped intra-day gain and price retreated to 98.71 in early European morning. Dollar traded sideways and briefly edged lower to session low at 98.58 in New York morning before staging a rebound to 99.35 in New York afternoon.
Although the single currency found strong buying interest at Asian open and rose to 1.3068 after tripping large stops abv 1.3050, lack of follow-through buying caused price to pare intra-day gain and retreated to an intra-day low at 1.3005 in early European morning, due partly to cross selling of euro against sterling (eur/gbp fell from 0.8560 to 0.8508). However, euro found renewed buying there and rebounded to 1.3074 in New York morning due to the rise in European bourses and eventually climbed to an intra-day high at 1.3103 in New York afternoon.
The British pound traded sideways in Asia and rose to 1.5325 in European morning after UK industrial production increased in February more than economists forecast, boosting speculation the nation will avoid a triple-dip recession. Despite a pullback to 1.5281 in New York morning, cable rose to an intra-day high at 1.5342 in New York afternoon before stabilising.
U.K. industrial output expanded by 1% in February, after dropping 1.3% the previous month.
In other news, Spain's Economy Minister Luis de Guindos said 'worried about fragmentation of financial markets in Europe, something shud be done by ECB.' Italy centre-left official said 'meeting between Bersani n Berlusconi was good, but we are at the beginning.'
On the data front, Germany trade balance came in at 16.8 billion euros versus forecast of 156.6 billion. U.S. wholesale inventories were reported at -0.3%, lower than expectations of 0.5%.
Data to be released on Wednesday :
Australia Westpac consumer confidence, China export, import, trade balance, France industrial production, manufacturing production, Italy industrial production, manufacturing production and U.S. Fed budget.
