Market Review - 24/07/2014 22:32GMT
Dollar gains broadly after U.S. jobless claims fell to an 8-year low
U.S. dollar rose broadly against major currencies as U.S. weekly jobless claims unexpected dropped to an 8-year low. The greenback rose from European low at 101.42 to an intra-day high of 101.86 against the Japanese yen.
Although the single currency tumbled to a fresh 8-month low at 1.3438 in European morning, stronger-than-expected German and euro zone manufacturing and services PMIs triggered active short-covering in euro lifted price to 1.3485, however, the pair later retreated to 1.3458 in NY morning after the release of less-than-expected U.S. jobless claims data before trading sideways.
The British pound tumbled after the release of downbeat U.K. retail sales data. Jun retail sales ex-energy came in at -0.1% m/m versus street forecast of +0.3%. Cable fell sharply fm an intra-day high of 1.7054 to as low as 1.6967 in New York morning.
The New Zealand dollar tumbled fm 0.8702 to 0.8568 against U.S. dollar on Thursday after Reserve Bank Governor Graeme Wheeler said the currency's level is "unjustified and unsustainable." He also signaled a policy pause after the fourth interest-rate increase this year.
According to a draft document obtained by Bloomberg, the European Union is preparing to sanction Russia's most senior spies and security officials, some of whom served alongside President Vladimir Putin in the Cold War, as it seeks to step up its response to the conflict in Ukraine.
The International Monetary Fund (IMF) lowered its outlook for global growth this year as expansions weaken from China to the U.S. and military conflicts raise the risk of a surge in oil prices. IMF said the world economy will advance 3.4% in 2014, less than its 3.6% prediction in April and stronger than last year's 3.2%. IMF said the growth of 2015 will be 4%, compared with an April forecast for 3.9%.
Friday will see the release of Japan National CPI, Tokyo CPI, Germany Gfk consumer confidence, Ifo current conditions, expectations, business climate, Italy unemployment, UK GDP and U.S. durable goods on Friday.
Dollar gains broadly after U.S. jobless claims fell to an 8-year low
U.S. dollar rose broadly against major currencies as U.S. weekly jobless claims unexpected dropped to an 8-year low. The greenback rose from European low at 101.42 to an intra-day high of 101.86 against the Japanese yen.
Although the single currency tumbled to a fresh 8-month low at 1.3438 in European morning, stronger-than-expected German and euro zone manufacturing and services PMIs triggered active short-covering in euro lifted price to 1.3485, however, the pair later retreated to 1.3458 in NY morning after the release of less-than-expected U.S. jobless claims data before trading sideways.
The British pound tumbled after the release of downbeat U.K. retail sales data. Jun retail sales ex-energy came in at -0.1% m/m versus street forecast of +0.3%. Cable fell sharply fm an intra-day high of 1.7054 to as low as 1.6967 in New York morning.
The New Zealand dollar tumbled fm 0.8702 to 0.8568 against U.S. dollar on Thursday after Reserve Bank Governor Graeme Wheeler said the currency's level is "unjustified and unsustainable." He also signaled a policy pause after the fourth interest-rate increase this year.
According to a draft document obtained by Bloomberg, the European Union is preparing to sanction Russia's most senior spies and security officials, some of whom served alongside President Vladimir Putin in the Cold War, as it seeks to step up its response to the conflict in Ukraine.
The International Monetary Fund (IMF) lowered its outlook for global growth this year as expansions weaken from China to the U.S. and military conflicts raise the risk of a surge in oil prices. IMF said the world economy will advance 3.4% in 2014, less than its 3.6% prediction in April and stronger than last year's 3.2%. IMF said the growth of 2015 will be 4%, compared with an April forecast for 3.9%.
Friday will see the release of Japan National CPI, Tokyo CPI, Germany Gfk consumer confidence, Ifo current conditions, expectations, business climate, Italy unemployment, UK GDP and U.S. durable goods on Friday.
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