Market News

On Monday, the U.S. Dollar dropped against a basket of major currencies and the Euro as risk aversion reduced following the U.S. government’s announcement of a $20 billion injection to rescue troubled Citigroup, the world’s largest banking corporation. Stocks rose in Europe, and the same time U.S. stock futures appears to point to a positive opening on Wall Street in a sign of increased risk appetite, which is attributed to the weakness of the U.S. Dollar.

The U.S. Dollar and the Japanese Yen fell today as global stock markets rebounded and on the announcement that Citibank, the largest financial institution in the United States, was contemplating a merger with another financial institution to quell market anxiety.

The Euro dropped to a one-week low versus the Japanese Yen and the U.S. Dollar today following the release of poor economic data by the Federal Reserve Bank, which underlined the critical situation of the global economic conditions, thus prompting renewed interest in lower-yielding currencies.

Today, the U.S. Dollar climbed slightly against a group of major currencies. Further, the Japanese Yen strengthened as investors continue to be apprehensive about the global economy and as a result, stock markets continue to come under downward pressure.

The Euro dropped against the U.S Dollar and the Japanese Yen today, as a stream of data showed that the global economy will continue to suffer, which kept strong demand for unwinding risky trades, as oppose to low-yielding currencies.

The U.S. Dollar ceded gains today as stock futures in the U.S. gravitated towards positive territory, but continual wariness over the worldwide economic outlook supported the U.S. Dollar and the low-yielding Japanese Yen.

The Euro gained slightly against the U.S. Dollar today following the release of data which showed that the U.S. economy is weakening. However, the Pound Sterling tumbled after the release of a bleak Bank of England forecast, which fuelled expectations that more U.K. interest rate cuts are needed.

In early trading in London, the Euro saw some gains against the U.S. Dollar and the Japanese Yen as traders focused on a rally by the Euro, reaching a near record high against the Pound Sterling.

The U.S. Dollar retreated today against the Euro, while the low-yielding Japanese Yen fell as a result of easing in risk aversion following China's announcement of a huge economic stimulus plan which boosted share prices.

The U.S. Dollar lost ground against a group of major currencies and the Euro today, following the release of U.S. job loss data which showed significant losses over the last quarter. The report raised fears among investors that America was in for a much deeper downturn than was originally expected.

In anticipation of today’s U.S. election results, global stocks moved higher, helped by the Australian central bank’s larger than expected interest rate reduction, which may pave the way for European central banks to follow with similar aggressive interest rate cutting action. The Australian central bank slashed the benchmark interest rate by 75 basis points, to 5.25%, which was the lowest in more than 3 years.

The Euro and several high-yielding currencies, including the Pound Sterling, gained against the U.S. Dollar today, while the Japanese Yen retreated across the board as rising equities from Asia and Europe helped to diminish extreme risk aversion.

The U.S. Dollar rose versus most major currencies today as worldwide share prices dropped lower due to concerns about a possible recession in major countries.

Today, in early trading, the U.S. Dollar fell versus the Euro, Pound Sterling, and several high-yielding currencies. This follows a reduction of a key interest rate by the Federal Reserve Bank, which helped to calm extreme risk aversion and boosted European shares. It was widely expected that America’s central bank would reduce the key interest rate from 1.50% to 1%. There is a possibility of further rate cuts, if the need arises.

The Japanese Yen retreated from a 13-year highs versus the U.S. Dollar today as global stock markets bounced back and risk aversion ebbed, raising the possibility that official intervention is likely should the need arise.