Market News

Global Equity Markets were mixed across the board yesterday. In the U.S, the DJIA recovered most of its losses after losing nearly 100 points following the poorer than expect housing data numbers.

The Japanese Yen traded close to a 5-week peak versus the U.S. Dollar on speculation that there is growing pressure on Japan’s banks to raise capital. As reported at 6:51 a.m. (GMT) in London, the Yen was trading at 89.15 Yen against the U.S. currency, off of yesterday’s peak of 88.74 Yen in New York.

The slide of the U.S. Dollar continues the 15-month downtrend in Sydney trading today, reinforced by the Federal Reserve stance to maintain the status quo. On Monday, the Chairman of the U.S.

The “official” rhetoric regarding the possible appreciation of the Chinese Yuan continues while market players’ belief of the same receded.

As reported at 10:23 am in Sydney, the U.S. Dollar held onto small gains in Friday’s Asian trading following another round of investor profit-taking.

Buoyed by better than expected jobs data and firmed commodity prices, the Australian Dollar reached a new 15-month high versus the U.S. currency in Asian trading today.

The Japanese Yen moved higher in Asian trading today, gaining against high-yielders following the release of mixed economic reports coming out of China.

In Asian trading, the U.S. Dollar Index approached a new 15-month low versus a group of six major currencies.

Commodity linked currencies, led by the New Zealand Dollar, moved sharply higher versus the U.S. Dollar in Monday’s trading in Sydney.

The U.S. Dollar remained flat in Friday trading in Sydney as investors consolidated positions in advance of the release of non-farms payroll data due out from the U.S. Department of Labor later today.

With the continued pledge of the Federal Reserve Bank chairman, Ben Bernanke, that U.S. interest rates would remain at historic lows for the time being

The USD experienced a sharp decline on Wednesday as firmer equity and commodity rates caused a rise in demand for the euro and perceived riskier currencies, while traders awaited a significant decision from the Federal Reserve.

The U.S. Dollar Index held relatively steady versus major currencies in Tokyo trading today, remaining just shy of the newly established 1-month high struck during yesterday’s trading day.

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In line with analysts’ and investors’ expectations, the Reserve Bank of Australia today increased key interest rates by 25 basis points to 3.50%, effectively eliminating earlier gains made by the Australian Dollar.