Market News

The U.S. Dollar held steady versus the single currency Euro in London trading, while investors debated whether or not the greenback could continue the rally on the heels of the report last week of lower-than-expected job losses in the United States in July.

As reported at 8:23 a.m. (BST) in London, the U.S. Dollar held steady versus the Pound Sterling and the single currency Euro, staying close to multi-month lows while investors take a wait-and-see approach to policy decisions expected from the Bank of England and the European Central Bank (ECB).

The U.S. Dollar remains near the lowest price of the year versus the single currency Euro in Asian trading today, generally attributed to improvement in the overall health of the global economies.

The Australian Dollar approached a 10-month high versus the Japanese Yen and the U.S. Dollar following the news from the Australian central bank that key interest rates would remain unchanged.

The new FIFO regulation issued by the NFA has officially come into effect. If you are not familiar, you need to read about it here.

With the global markets awaiting a surfeit of economic data out of the United States, the U.S. Dollar Index closed in on the lowest point of the year versus a basket of six major currencies in Asian trading today.

Yesterday, Su Ning, the Vice Governor of China’s central bank commented that they had no intention of tightening the country’s money supply and would be using market tools rather than quota styled controls as they are continue to work toward repairing China’s economy.

As reported at 2:42 p.m. (JST) in Tokyo, the U.S. Dollar steadied against major currencies, very near to the lowest trade of this year.

Good economic news out of the United States drove investors back into higher risk, higher yielding assets giving the Euro a push to an 8-week high against the U.S. Dollar in Tokyo trading today.

The U.S. Dollar and Japanese Yen, as well as other major currencies, managed to hold steady in Asian trading today as the markets await the release of figures on the U.S. GDP, a measure of how well the economic health of the world’s largest economy is faring.

Much improved housing market data from the U.S. and mixed corporate earnings reports helped to push the Japanese Yen up broadly in Friday’s trading in Asia. U.S. housing data indicated that existing home sales continued to climb for the third straight month and housing prices are at their highest levels in more than 9 months.

Following a second day of Congressional testimony by Ben Bernanke, the Federal Reserve Chairman, as well as the release of mixed U.S. corporate earnings results, the U.S. Dollar fell broadly in Asian trading, nearing a 7-week low versus the single currency Euro and slipping against a basket of six major currencies.

As I am sure you know, the NFA recently announced the new FIFO (First In First Out) ruling that is to come into effect on August 2nd.

Ben Bernanke, the Chairman of the United States Federal Reserve Bank, in testimony to the U.S.

As the market’s wait to hear Congressional testimony from Ben Bernanke, the Chairman of the U.S. Federal Reserve Bank, the U.S. Dollar struggled off of a weeks-long low in Tokyo trading.