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Yen rises against major currencies |
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Yen edged higher against its major counterparts Tuesday as a fall in most Asian stocks prompted investors toward the safe-haven yen.
The dollar and the yen are viewed as safe-haven currencies and both currencies gain, when investors turn risk averse and fall when risk appetite improves.
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Asian stock markets were mostly lower today despite improvement in U.S. manufacturing as doubts lingered about the durability of a rebound in the world's largest economy.
Against the US dollar, the Japanese yen traded higher during early deals on Tuesday. the yen reached a high of 90.09 against the dollar, compared to 90.23 hit late New York Monday.
The Japanese unit that closed Monday's North American session at 133.32 against the European currency climbed to 132.94 Tuesday. The euro-yen pair is currently trading at 133.10 with 132.3 seen as the next target level.
The yen rose to 147.18 against the pound, compared to Monday's closing value of 148.06. If the yen gains further, 144.5 is seen as the next target level.
The yen that closed Monday's New York deals at 88.35 against the Swiss franc hit a high of 88.04 Tuesday. On the upside, 87.2 is seen as the next target level for the Japanese yen.
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| Technical Calls |
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Gold can touch $1,225 per ounce by next week |
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What Eric is saying here also lies in the shortening of the steps in the stair step gold action. At new highs, such as now, this formation is a rare set up suggesting an exponential rise.
Rev. Doug, who is no slouch when it comes to gold, anticipat |
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Gold price will double $1,150: Jim Rogers |
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The most bullish investor on gold these days seems to be the global commodities investor Jim Rogers. Rogers, based in Singapore, and a big investor in the Chinese commodities market says, gold price should double the current $1,150 per ounce level. |
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Gold price to average $1,140: Barclays Capital |
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Barclays Capital says gold prices will average $1,140 per ounce in 2010, says Barclays Capital. "We expect prices to maintain their upward momentum through to at least the first half of 2010, where we expect prices to average $1,140 in the second qu |
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Crude oil futures continued to trade down in mid London trade Friday as the US dollar strengthened against the major currencies apart from a dip in the global equities. |
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Gold futures fell in negative zone as dollar gathered some strength in mid London trades. Dollar typically strengthens when there are less data releases from US. |
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MCX Comdex was up by 2.35% to 2694.17. MCX Energy was down by 0.22% to 2651.55, MCX Metal was up by 3.70% to 3226.02 and MCX Agri was up by 4.84% to 2255.10. |
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