|
You are here : Home >> Currency Street >> Report |
|
|
| |
Greenback eases in Asia on profit taking |
| |
|
|
| |
Profit taking by traders on Greenback’s recent surged eased its highs against the euro and yen in Asia on Monday.
The dollar briefly slipped below the key 110-yen level before rebounding to 110.21 by late morning in Tokyo, down from 110.48 in New York on Friday.
The euro rose to 1.4732 dollars, up from 1.4685 late Friday. The euro firmed to 162.32 yen from 162.27.
Investors sold the greenback to take profits on its recent rise while exporters bought yen to repatriate their overseas earnings.
The dollar recently has risen to a six-month peak against the euro and to its highest level since January against the yen on worries that the fallout from the US financial crisis is spreading to other major economies.
Markets were looking ahead to the results of the ZEW survey of German business confidence due Tuesday, amid growing concerns about the health of the eurozone economies.
The dollar has been buoyed by growing speculation that the European Central Bank could begin cutting interest rates next year to boost the eurozone economy, which shrank by 0.2 percent in the second quarter.
Falling commodity prices and a rise in US industrial output in July gave an additional boost to the US currency, dealers said.
The Bank of Japan was due to start a two-day meeting on interest rates later Monday, with traders bracing for a more cautious assessment from the central bank on prospects for Asia's biggest economy.
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
| Technical Calls |
|
| |
Gold price peaks to Rs16,900 in India bullion market |
| |
Gold prices in India continue to peak. On Satruday, gold prices spiked to a new high of Rs 16,900 per 10 gram in the bullion market. Gold dealers said strong marriage season demand amid firmimg global trends are driving gold prices in India. |
 |
| |
Sri Lanka shoring up gold reserves |
| |
The Gold Price in Euros peaked on Feb. 20th above €782 an ounce. "We have been fairly strong accumulators of Gold reserves over the past few months," said Sri Lankan central bank chief Ajith Nivard Cabraal to Reuters today in an interview from Chenna |
|
| |
NMCE-Muthoot tie up for gold guinea, coins, bars |
| |
The National Multi-Commodity Exchange, India's third largest multi commodity exchange, has signed a deal with financial services company Muthoot Group to facilitate the futures trade in the guinea contract system. |
|
|
More> |
|
|
|
|
|
| |
|
| |
Cardamom futures rose at the MCX counter Friday as the demand for the commodity in the spot market is seen firm against the lower than expected stockpiles. |
 |
| |
|
| |
MCX Comdex was up by 0.67% to 2687.20. MCX Energy was down by 0.98% to 2765.22, MCX Metal was up by 1.45% to 3130.30 and MCX Agri was up by 2.78% to 2182.39. |
|
| |
|
| |
Domestic crude oil futures are trading with mild losses Friday as the impacts of the late sell of continued to linger on the market. |
|
|
More> |
|
|
|
|
|
| 
FeedBurner
