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October 4th, 2012
Euro Futures – The euro rose for a sixth day versus the yen, the longest run since March, as European Central Bank President Mario Draghi said the currency was irreversible and the ECB’s decision to start buying bonds helped ease tensions.
The 17-nation currency gained the most in almost three weeks versus the dollar after Draghi said the ECB was ready to start buying government bonds from nations such as Spain as soon as the necessary conditions are met. The greenback stayed lower versus most major peers as claims for U.S. jobless benefits rose less than forecast, encouraging investors to buy higher- returning assets. A measure of volatility declined to the lowest level in almost five years.
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October 1st, 2012
Gold futures jumped to a 10-month high after Federal Reserve Bank of Chicago President Charles Evans said that the U.S. central bank can do more to boost the economy, fueling concern that inflation will accelerate.
Evans, who doesn’t vote on Fed policy this year, said today in an interview on CNBC that unemployment probably won’t fall to 7 percent until 2014. The central bank can “back off” of its accommodation should inflation present a greater threat, he said. In the third quarter, gold gained 11 percent, the most since June 2010, as the Fed announced a third round of monetary stimulus.
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October 1st, 2012
Euro Futures – The euro advanced from a three-week low against the dollar amid optimism that Spain’s latest budget and banking measures are moving the euro region closer to containing its debt crisis.
The 17-member currency strengthened versus all of its 16 most-traded peers after Moody’s Investors Service said Spain’s bank recapitalization is positive for the nation’s credit rating. Risk appetite increased as an index unexpectedly signaled U.S. manufacturing is stabilizing. Federal Reserve Bank of Chicago President Charles Evans said the central bank can do more to boost growth even after increasing its bond-buying.
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September 24th, 2012
Euro futures – The euro declined to a one-week low against the dollar after a gauge of German business confidence unexpectedly dropped in September, adding to concern the debt crisis is hindering the region’s economy.
The 17-nation currency fell for a fifth day versus the yen after German Chancellor Angela Merkel and French President Francois Hollande clashed during the weekend on a timetable to introduce joint oversight of euro-area banks. The Ifo institute in Munich said its business climate index dropped for a fifth straight month. The Australian dollar weakened on speculation growth in China, its biggest trading partner, is worsening.
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September 19th, 2012
Euro Futures – The yen erased losses after reaching a four-week low versus the dollar as the Bank of Japan (8301) unexpectedly expanded monetary stimulus, joining other central banks in taking steps to spur economic growth.
The euro fluctuated against the dollar amid concern that the European Central Bank’s pledge to buy the bonds of troubled member nations won’t be enough to revolve the region’s debt crisis. The yen strengthened against all of its most-traded counterparts even after policy makers added 10 trillion yen ($127 billion) in stimulus. South Africa’s rand tumbled as platinum miners agreed to return to work following a strike.
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September 5th, 2012
Euro Futures – The euro rose against most of its 16 major peers after two central bank officials said European Central Bank President Mario Draghi will announce unlimited sterilized bond buying to quell the region’s debt crisis.
The 17-nation currency climbed to a two-month high against the dollar last week amid optimism Draghi would announce additional monetary stimulus at tomorrow’s ECB meeting. Australia’s currency dropped to a seven-week low after the economy expanded less than forecast. Norway’s krone fell after manufacturing contracted for a third month amid dwindling demand from Europe. Canada’s dollar remained lower after the nation’s central bank kept its interest-rate target unchanged.
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August 21st, 2012
Euro futures rose to six-week highs against the dollar and yen before regional leaders meet this week to discuss Greece’s fiscal adjustment program amid optimism the European debt crisis is being contained.
The 17-nation currency appreciated for a second day versus the greenback after Germany indicated concessions for Greece were possible and as Spanish borrowing costs declined at a bill auction. The dollar weakened against all but two of its 16 major counterparts before a report tomorrow forecast to show U.S. home sales improved last month, reducing demand for safer assets. Australia’s dollar strengthened after minutes of the central bank’s August meeting showed policy makers see domestic growth overshadowing a “fragile” global outlook.
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August 17th, 2012
Euro Futures – The euro traded at almost its strongest level against the yen in six weeks amid optimism that European leaders are moving closer to an agreement on solving the region’s debt crisis that may involve buying sovereign debt.
The shared currency gained versus most of its 16 major peers as Austrian Chancellor Werner Faymann said the breakup of the euro area or the bankruptcy of a member would do more harm than good, a day after his German counterpart Angela Merkel said leaders “feel committed to do everything” to safeguard the monetary union. Australia’s dollar snapped a two-day gain versus the greenback as the government said the central bank would be able to ease monetary policy if currency gains hurt the economy.
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August 13th, 2012
The euro gained the most in more than a week versus the dollar after Italy’s debt sale damped concern nations in the currency bloc won’t be able to access the debt markets.
Europe’s common fell earlier amid reports quoting European Central Bank Governing Council member Luc Coene saying bond purchases won’t solve Spain’s and Italy’s difficulties. New Zealand (ANZ)’s dollar weakened against the greenback after Finance Minister Bill English said the country would prefer a weaker currency. South Africa’s rand and Brazil’s real led declines against the dollar as global stocks fell.
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June 19th, 2012
Euro Futures – The euro strengthened against the dollar after a European Union official said a politically acceptable path will be sought for renegotiating Greece’s bailout conditions.
The U.S. currency fell against most of its major counterparts as the Federal Reserve starts a two-day meeting where 12 primary dealers expect some form of added stimulus from the central bank, while nine expect no action. The pound weakened versus the euro after U.K. inflation slowed in May to the least in 2 1/2 years. Mexico’s peso and Canada’s dollar rose after a report showed a measure of future construction in the U.S. climbed to the highest since September 2008.
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