Dollar Edges Higher as Virus Fears Ease; Euro Weakens By Investing.com



Investing.com – The U.S. dollar is showing some strength against the safe haven Japanese yen Friday as a degree of calmness returns to traders who have fretted all week over the new pneumonia-like virus in China.

By 02:50 ET (0750 GMT), the dollar had climbed 0.1% against the yen, with trading at 109.54. The Futures, which tracks the greenback against a basket of other currencies, edged up 0.1% to 97.53.

Elsewhere, the euro has shown weakness after the European Central Bank indicated no immediate movement from its current monetary policy stance at Thursday’s meeting. President Christine Lagarde told Bloomberg Friday insisted that the bank is not on “autopilot” but others were skeptical.

“As long as the economy rebounds as expected, with a stimulus already in the pipeline, the ECB will likely hold off any major policy adjustments until it has completed its policy review,” Berenberg Bank chief economist Holger Schmieding said in a research note.

“The ECB will still closely monitor inflation, highly accommodative monetary policy is still needed, and the ECB stands ready to use all instruments. In other words, the easing bias remains in place,” said analysts at Nordea in a research note.

“The EUR is not about to receive support from the ECB policy any time soon,” they added.

At 02:50 ET (0750 GMT), traded 0.1% lower at 1.1048 and down 0.1% at 0.8417.

Overnight, The number of cases of patients infected with the new virus as of January 23 has gone up to 830 in China, while the death toll from the virus has risen to 25, the National Health Commission announced on Friday.

Late Thursday, the World Health Organization stopped short of calling the virus a global health emergency, even as the number of cases of patients infected with the new virus topped 800 in China, with the death toll rising to 25.

“Make no mistake, this is an emergency in China, but it has not yet become a global health emergency,” Tedros Adhanom Ghebreyesus, the WHO’s director-general, said at a briefing in Geneva Thursday.

President Christine Lagarde’s comments did not imply any increased reservations towards using any of the tools at the ECB’s disposal, the note said. “If downside growth risks increase again in the coming months, as we expect, the market should not have any problems pricing in a higher risk of further stimulus measures.”

With the outlook for growth being so important in the ECB’s eyes, traders will focus on the various PMI data due for release Friday, and in particular the German number, due at 3:30 AM ET (0830 GMT).

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Dollar Gains as U.S. Services Activity Hits Highest Since March By Investing.com


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By Yasin Ebrahim

Investing.com – The dollar climbed against its rivals Friday as data showing ongoing strength in the U.S. services sector offset a continued slowing in manufacturing to a three-year low.

The , which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.18% to 97.87.

The IHS Markit flash purchasing managers index for manufacturing slipped to a three-month low in January, but the services PMI rose to the highest level since last March.

Strength in the greenback was also supported by plunge in the pound and euro.

fell 0.29% to $1.308 and more losses could follow when trade negotiations between the U.K. and the EU begin after the U.K. leaves the trading bloc on Jan. 31, said Jane Foley, senior foreign-exchange strategist at Rabobank.

“Once those negotiations get underway in February and March, some of us could be in for a rude awakening,” Foley added.

fell 0.20% to $.1013 shrugging off better-than-expected PMIs from Germany amid expectations that the European Central Bank is set to persist with negative rates at least until the end of the year.

fell 0.21% to $109.26 as the yen was supported by an uptick in safe-demand after the CDC confirmed that a second case of the coronavirus had been identified in the U.S.

rose 0.18% to C$1.315 as oil prices continued to retreat on fears that a continued spread of the virus could dent air travel, keeping a lid on oil demand.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Wall Street Drifts, While Intel Surges on Strong Earnings By Investing.com


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By Geoffrey Smith

Investing.com Wall Street drifted sideways at the start of the final session of the week, despite a business survey showing the U.S. economy continuing to perform above expectations on aggregate.

The U.S. composite purchasing managers index published by consulting firm IHS Markit rose to 53.1 in January, ahead of forecasts for a dip to 52.5, thanks to robust activity in the services sector. The manufacturing PMI did, however, dip to 51.7 from 52.4, suggesting only moderate growth.

By 1030 AM ET (1630 GMT), the was down 21 points, or 0.1%, while the S&P 500 was down 0.2% and the was flat, coming off an earlier record high.

Chipmaker Intel (NASDAQ:) was the standout performer, rising 7.2% to its highest since the very peak of the dot-com boom back in 2000 after reporting better-than-expected earnings after the bell on Thursday. The company continues to ride the wave of demand for high-powered chips from data centers on which Cloud servers run. It also enjoyed a kicker from demand for new PCs ahead of Microsoft’s deadline for ending support for Windows 7.

Rival Broadcom (NASDAQ:) also extended gains, rising another 2.5%, in the wake of its announcement of a major deal to supply Apple (NASDAQ:). Skyworks (NASDAQ:), whose products will be displaced by the deal, fell 4.2%

NextEra Energy (NYSE:), the parent company of Florida Power & Light, meanwhile overcame an initial dip premarket to rise 0.7%, as it reiterated its ultra-bullish guidance for the next three years.

American Express (NYSE:) rose 2.9% after reporting a strong holiday quarter, with U.S. spending on its cards up by 6% year-on-year.

Elsewhere, the , which measures the greenback against a basket of other currencies, hit a new high for the year of 97.710 before retreating to 97.665, up 0.2% on the day. oil prices continued to fall on fears of oversupply, as fears strengthened that the coronavirus outbreak will hit Chinese demand. They were down 2.2% at $54.40 a barrel, their lowest since October

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Yen Gains On Weak Export Data, Virus Fears; Yuan Drops By Investing.com


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By Alex Ho

Investing.com – The Japanese yen gained on Thursday in Asia gained on Thursday in Asia amid weak export figures and fears about the mysterious virus in China.

The EUR/USD pair inched down 0.1% to 1.1082 as traders awaited the European Central Bank (ECB) policy meeting due later in the day. The meeting will be followed bya press conference with President Christine Lagarde.

The USD/JPY pair lost 0.3% to 109.53 amid ongoing fears about the widening coronavirus outbreak, as authorities ramped up efforts to contain the virus ahead of the weeklong Lunar New Year holiday next week.

The World Health Organisation will decide later on Thursday whether to declare the situation a global health emergency.

On the data front, Japanese exports for December fell 6.3% in December as compared to a year before, data from country’s Ministry of Finance data showed. That was far lower than the expected 4.2% decrease.

The USD/CNY pair lost 0.4% to 6.9283.

The Australian dollar rose 0.2% to 0.6858 after a surprise drop in unemployment.

Meanwhile,the U.S. dollar index that tracks the greenback against a basket of other currencies last traded at 97.335, up 0.04%.

The index traded higher overnight after the National Association of Realtors said pending home sales rose 3.6% to a 5.54 million annual rate. That was the strongest pace of growth since February 2018.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Yen Pushes Higher; Euro in Focus as ECB Meets By Investing.com


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Investing.com – The safe haven Japanese yen gained against the U.S. dollar Thursday on a sharp bout of risk aversion, as battles to contain the new pneumonia-like virus in China intensified, although volatility remained limited.

By 03:30 ET (0830 GMT), the yen had climbed 0.2% against the dollar, with trading at 109.56. The Chinese yuan dropped 0.4% against the greenback, with trading at 6.9313. The Futures, which tracks the greenback against a basket of other currencies, was essentially flat at 97.30.

Earlier Thursday, China issued a travel suspension in Wuhan, a city of 11 million at the center of the outbreak of the coronavirus, as its latest attempt to stop the spread of the disease. The virus has killed at least 17 people so far and infected hundreds of people in China, and as far afield as the U.S., Thailand, Taiwan, Japan and the Republic of Korea.

Elsewhere, the pair inched down 0.1% to 1.1087 as traders awaited the European Central Bank (ECB) policy meeting due later in the day. The meeting will be followed by a press conference with President Christine Lagarde.

Economists expect no changes in any of the monetary policy instruments, and the focus will be on the central bank’s outlook and information on its the strategic review.

“In this environment, markets could pay most attention to the comments talking about a tentative stabilization of economic data and some removal of downside risks,” said analysts at Nordea, in a research note, “which in other words would mean less need for immediate easing.”

That said, Nordea doesn’t expect the euro to receive much lasting support from the central bank, “as the bar for the market to price in any notable ECB tightening remains high.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Dollar Edges Higher on Bullish Housing Data By Investing.com


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Invesing.com – The dollar edged higher against its rivals Wednesday, as bullish housing data strengthened expectations that the U.S. economy will remain on solid footing.

The , which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.06% 97.58.

The National Association of Realtors said rose 3.6% to a 5.54 million annual rate. That was the strongest pace of growth since February 2018.

Lawrence Yun, chief economist at the National Association of Realtors, attributed the higher level of housing activity to strong job creation, high consumer confidence and low mortgage rates.

A sharp uptick in the pound, meanwhile, kept the dollar on the backfoot as positive U.K. economy data cooled expectations that the Bank of England will cut rates at the end of the month.

rose 0.59% to $1.312.

But some analysts see limited upside for cable, arguing that seasonal factors will likely weigh on the sterling.

“There is little evidence so far of a broad based rebound in sentiment following the general election plus seasonal factors tend to weigh on GBP through February and March,” Bank of America said.

With just a day ago until the European Central Bank meeting, the euro was largely flat against the dollar at $1.109.

rose 0.62% to C$1.315 after the Bank of Canada kept its benchmark rate on hold, but left the door open to a future rate cut, saying that it will monitor data to gauge whether the recent slowdown in domestic growth has accelerated.

“Today’s statement makes us more comfortable with our call for a rate cut in April, and market odds of a move by mid-year are now slightly above 50%,” RBC said

The was also knocked by a fall in oil prices after the International Energy Agency warned of a surplus in oil supplies by 1 million barrels per day in the first half of this year.

was flat at Y109.87 on subdued safe-haven demand despite reports that the death toll from the Coronavirus had increased to 17, raising fears of contagion.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Top 3 Things to Watch for Jan. 23 By Investing.com


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By Kim Khan

Investing.com – Here are three things that could rock the markets tomorrow.

1. P&G and Intel (NASDAQ:) Weigh In

Earnings tomorrow are a dichotomy, with the definitive legacy consumer products giant reporting before the bell and the definitive legacy tech company up after the close.

Procter & Gamble (NYSE:) will weigh in ahead of trading.

Analysts, on average, expect P&G to $1.37 per share on sales of about $18.4 billion, according to forecasts compiled by Investing.com.

But investors should be cautious going into earnings, Investing.com analyst Haris Anwar said.

The “pace of growth that P&G is showing is unusual for a company which produces everyday consumables in categories where the competition is intense and margins are low,” Anwar said. “From a big consumer staple giant like P&G it wouldn’t be fair to expect a blowout quarter every time.”

After the bell, Intel (NASDAQ:) will be up.

Intel (NASDAQ:) is expected to report a of $1.25 per share, with revenue coming in at $19.2 billion.

Earlier this week Jefferies upgraded its rating on Intel to hold from underperform,

2. ECB Press Conference Takes the Stage/

It’s fairly quiet on the U.S. economic calendar tomorrow. But early hours will bring the European Central Bank’s interest rate decision.

The ECB is expected to keep at negative 0.5%, a record low, but of more interest will be the tone of ECB President Christine Lagarde, where the sighting of a hawk could boost the euro.

The decision is at 7:45 AM ET (12:45 GMT), while the press conference with is scheduled for 8:30 AM ET.

Also at 8:30 AM ET the weekly initial jobless claims numbers arrive.

The Labor Department is expected to report a bounce back to 215,000 of for first-time unemployment benefits after last weeks surprisingly low 204,00.

3. Supplies Are Running the Oil Market

Oil prices have been pressured by a huge build-up in oil products in the U.S. in the last two weeks, indicating that supply is continuing to get ahead of demand.

Today the American Petroleum Institute, reported that its measure of rose by 1.6 million for the week ended Jan. 17.

The Energy Information Administration will report its weekly inventory numbers tomorrow at 11:00 AM ET (16:00 GMT), slightly later than usual due to the Martin Luther King Day Holiday on Monday.

Traders are looking for a decline of about 1 million barrels for , according to forecasts compiled by Investing.com.

They are also forecasting a rise of about 1 million barrels in and a build of about 3 million barrels in .

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Israel stocks higher at close of trade; TA 35 up 0.83% By Investing.com


© Reuters. Israel stocks higher at close of trade; TA 35 up 0.83%

Investing.com – Israel stocks were higher after the close on Wednesday, as gains in the , and sectors led shares higher.

At the close in Tel Aviv, the added 0.83% to hit a new all time high.

The best performers of the session on the were Shapir Engineering Industry (TASE:), which rose 11.67% or 278.00 points to trade at 2660.00 at the close. Meanwhile, OPKO Health Inc (TASE:) added 5.10% or 27 points to end at 558 and Liveperson (TASE:) was up 4.13% or 600 points to 15120 in late trade.

The worst performers of the session were Isramco Negev 2 LP (TASE:), which fell 2.44% or 1.4 points to trade at 55.9 at the close. Delek Drilling LP (TASE:) declined 2.13% or 18 points to end at 828 and Israel Corp (TASE:) was down 1.75% or 1170 points to 65730.

Rising stocks outnumbered declining ones on the Tel Aviv Stock Exchange by 252 to 146 and 28 ended unchanged.

Shares in Shapir Engineering Industry (TASE:) rose to all time highs; up 11.67% or 278.00 to 2660.00. Shares in Liveperson (TASE:) rose to all time highs; rising 4.13% or 600 to 15120. Shares in Israel Corp (TASE:) fell to 52-week lows; falling 1.75% or 1170 to 65730.

Crude oil for March delivery was down 2.60% or 1.52 to $56.86 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March fell 2.11% or 1.36 to hit $63.23 a barrel, while the February Gold Futures contract fell 0.03% or 0.45 to trade at $1557.45 a troy ounce.

USD/ILS was up 0.16% to 3.4605, while EUR/ILS rose 0.20% to 3.8367.

The US Dollar Index Futures was up 0.04% at 97.333.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Dollar Calm; Retains Strength Against Main Rivals By Investing.com


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Investing.com – The U.S. dollar was largely flat in European trading Monday, with the U.S. holiday providing little incentive for traders to take risks. That said, the greenback still looks strong against its main competitors.

At 03:35 ET (0835 GMT), the Futures, which tracks the greenback against a basket of other currencies, was essentially flat at 97.40. traded flat at 110.15, at 1.1095, up 0.1%, and at 1.2979, down 0.2%.

Figures released by the Commerce Department on Friday showed U.S. housing starts in December were well above economists’ estimates for 1.38 million and were the biggest gain in 13 years.

Retail sales were also on the rise and a gauge of manufacturing activity rebounded to its highest in eight months.

The positive data reduced chances that the Federal Reserve would slash rates when it meets later this month.

The European Central Bank and the Bank of Japan are also not expected to make any changes in their first policy meetings of the year this week, but the Bank of England is widely expected to cut rates in the near future.

The dollar story is staying firm in the G3 space, analysts Chris Turner, Petr Krpata and Francesco Pesole at ING, said in a research note. “Talk of a Republican Tax Cut 2.0 may cement that trend – at least in the G3 space. US macro weakness looks less of a concern now, but the market will soon turn to U.S. election risks – especially were (Elizabeth) Warren or (Bernie) Sanders to win the Democratic nomination.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Crude Off Highs; Risk Premium Leaves The Market By Investing.com


© Reuters.

By Peter Nurse

Investing.com — Oil prices were off the high levels seen over the weekend in early afternoon trading in Europe, but were still trading positively after unrest hit production in two oil exporting countries, Iraq and Libya.

Security guards shut down production at the 70,000 barrel a day Al Ahdab field in Iraq at the weekend in a protest demanding permanent employment contracts.

At the same time two large crude production bases in Libya began shutting down after forces loyal to Russian-backed Khalifa Haftar closed a pipeline, in an effort to keep up the pressure on UN-recognized Prime Minister Fayez al Sarrajamid as attempts to end the civil war continue.

“Prior to the blockade, Libya was producing around 1.2MMbbls/d. A prolonged disruption from Libya would be enough to swing the global oil market from surplus to deficit in 1Q20,” said analysts Warren Patterson and Wenyu Yao at ING, in a research note.

OIl prices climbed to the highest levels seen in a week over the weekend, but have since given up some of these gains. By 6:45 AM ET (1345 GMT), futures were at $58.95 a barrel, up 0.7%, having peaked at $59.73 over the weekend, the highest since Jan. 10. was up 0.8% at $65.36, from a high of $66, the highest since Jan. 9.

Analysts at Platts Analytics noted in a podcast earlier Monday that there was now very little risk premium in the market, and fundamentals warrant to trade around the $65 a barrel level. It would take a substantial supply hit, such as a sustained disruption to production in Saudi Arabia or southern Iraq, or perhaps the closure of a shipping lane, for a risk premium to enter the market for any length of time.

After all, “the oil market remains well supplied with ample stocks and a healthy spare capacity cushion,” said Stephen Brennock of oil broker PVM, in a Reuters report.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.