(Reuters) - The U.S. dollar steadied on Friday, as traders girded for a break above tough chart obstacles on Europe's fiscal problems, while the looming year end kept many equity investors eager to take profits, weighing on Asian stock markets.
The Australian dollar slid after the head of the country's central bank said interest rates were about right for the near term, extinguishing speculation the currency's yield advantage would get a policy boost in the next few months.Caution ruled in financial markets, with thinning volumes driving more stock investors to take profits in the year's winning sectors in Asia, such as consumer discretionary spending, and go to the sidelines.
The MSCI index of Asia Pacific stocks outside Japan slipped 0.3 percent .MIAPJ0000PUS, weighed down the most by a 0.8 percent fall in the consumer discretionary sector.
Powered by the view that the hunger of Asia's consumers for big-ticket items, such as cars and appliances will keep growing, this sector is still up 28 percent so far this year .MIAPJCD00PUS, making it by and far the best performer.
Japan's Nikkei share average .N225 was barely changed on the day, with strength in larger exporter shares offset by weakness in retailers and industrial stocks.
The Nikkei's 9.5 percent rise in November, driven in part by a weakening in the yen, is on course to be the biggest monthly gain since March.
Correspondingly, the U.S. dollar's 4.3 percent rise against the yen is also the steepest single-month advance since March.
Government bonds, in turn, sold off, with 10-year futures down 2.4 points in November, the biggest monthly decline since April 2008.
The December contract was down 0.3 point at its lowest since June 23, ahead of new supply of 10-year debt next week. The flows across the yield curve have been erratic, and dealers are keeping watch of cash yields of mid-maturity bonds to see if they follow the 10-years higher, which would trigger more bullish bets to be folded.
The U.S. dollar nudged up, though mainly because of weakness in other currencies.
The dollar index, a trade-weighted measure against six other major currencies, edged up 0.1 percent to 79.85. A major chart obstacle lies at 80.05, a level which served as support in April and August.
In the absence of fresh economic news, a clear break above that level will be a medium-term bullish signal for the dollar, especially if the index closes the week above 79.73, the 200-week moving average.
The Australian dollar was down 0.5 percent to US$0.9750 after Reserve Bank of Australia Governor Glenn Stevens said policy was appropriate for now, suggesting the central bank was in no hurry to tighten rates.
He later said it was not unreasonable for investors to price in a rate hike in the middle of 2011, a comfort to longer-term investors in the Australian dollar but no solace for short-term bulls who had hoped for a near-term push to parity.
(Additional reporting by IFR Analyst Takahiro Okamoto in Tokyo and Reuters FX Analyst Krishna Kumar in Sydney; Editing by Tomasz Janowski)
Jumat, 26 November 2010
Kamis, 25 November 2010
Battered euro limps off lows
(Reuters) - The euro earned a reprieve early in Asia on Thursday, lifting off a two-month trough after three straight sessions of falls, but with the euro zone debt crisis still festering any rebound may well prove short-lived.
Ireland unveiled an ambitious austerity plan to tackle its debt crisis and secure an international bailout on Wednesday, which some analysts said was a step in the right direction.
But already the plan's credibility has come under fire for sticking to economic growth assumptions, unveiled earlier this month, seen as too optimistic.The euro, which plumbed a low around $1.3284 after piercing through support around $1.3333 overnight, staged a modest rebound back to $1.3344 in Asia.
Next support is pegged at $1.3232, the 61.8 percent retracement of the August to November rally, a break of which could see the single currency target $1.3000.
Against the Japanese currency, the euro bounced off the session low of 110.26 yen, a level last seen in mid-September, to last stand at 111.47.
"With the U.S. on holiday, and CDS spreads across the PIGS holding in below recent record highs, risk appetite may crawl back in the days ahead to at least stabilize EUR/USD," said Peter Frank, strategist at Societe Generale.
"But, with the Irish government also admitting that the IMF/EU EFSF talks may last weeks, we find no viable reasons to buy the EUR at this point."
U.S. markets are shut on Thursday for the Thanksgiving holiday.
The dollar index .DXY, which tracks the greenback's performance against a basket of major currencies, flirted with a two-month high just short of 80.000 overnight and was last at 79.701.
The dollar rose to 83.66 yen from a session low of 82.92 and last traded at 83.53 yen.
The greenback was further aided by U.S. data showing a fall in new claims for jobless benefits to two-year lows and another rise in consumer spending, suggesting the U.S. economy is nearing a self-sustaining recovery.
Those figures helped spur a rally on Wall Street, boosting risk appetite and benefiting commodity currencies such as the Australian dollar.
The Aussie dollar popped above $0.9800, having traded near $0.9700 earlier this week. It was last at $0.9832.
The euro sank 1.4 percent to a record low of A$1.3556, shattering previous troughs in the A$1.3640/50 zone.
Ireland unveiled an ambitious austerity plan to tackle its debt crisis and secure an international bailout on Wednesday, which some analysts said was a step in the right direction.
But already the plan's credibility has come under fire for sticking to economic growth assumptions, unveiled earlier this month, seen as too optimistic.The euro, which plumbed a low around $1.3284 after piercing through support around $1.3333 overnight, staged a modest rebound back to $1.3344 in Asia.
Next support is pegged at $1.3232, the 61.8 percent retracement of the August to November rally, a break of which could see the single currency target $1.3000.
Against the Japanese currency, the euro bounced off the session low of 110.26 yen, a level last seen in mid-September, to last stand at 111.47.
"With the U.S. on holiday, and CDS spreads across the PIGS holding in below recent record highs, risk appetite may crawl back in the days ahead to at least stabilize EUR/USD," said Peter Frank, strategist at Societe Generale.
"But, with the Irish government also admitting that the IMF/EU EFSF talks may last weeks, we find no viable reasons to buy the EUR at this point."
U.S. markets are shut on Thursday for the Thanksgiving holiday.
The dollar index .DXY, which tracks the greenback's performance against a basket of major currencies, flirted with a two-month high just short of 80.000 overnight and was last at 79.701.
The dollar rose to 83.66 yen from a session low of 82.92 and last traded at 83.53 yen.
The greenback was further aided by U.S. data showing a fall in new claims for jobless benefits to two-year lows and another rise in consumer spending, suggesting the U.S. economy is nearing a self-sustaining recovery.
Those figures helped spur a rally on Wall Street, boosting risk appetite and benefiting commodity currencies such as the Australian dollar.
The Aussie dollar popped above $0.9800, having traded near $0.9700 earlier this week. It was last at $0.9832.
The euro sank 1.4 percent to a record low of A$1.3556, shattering previous troughs in the A$1.3640/50 zone.
Rabu, 24 November 2010
GBP/USD
As you can see the pair traded along the Relative strenge index Fan between the support lines. If the pair will
not cross the upper Fan line we might see an on going downward, maybe under the lower
resistance around 1.5875.
Support Levels around Resistance Levels around
1.5875 1.5993
1.5755 1.6115
not cross the upper Fan line we might see an on going downward, maybe under the lower
resistance around 1.5875.
Support Levels around Resistance Levels around
1.5875 1.5993
1.5755 1.6115
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