Market Review - 02/09/2014 23:01GMT
Dollar rises broadly on robust U.S. ISM manufacturing PMI
U.S. dollar jumped against the Japanese yen in Tokyo morning on Tuesday on improved risk appetite due to the rally in Nikkei-225 index. Price later rose to a fresh 8-month high of 105.21 in NY morning after the release of much stronger-than-expected U.S. ISM manufacturing PMI which came in better-than-expected at 59.0 versus economists' forecast of 56.8. U.S. Treasuries fell further on the data, with the 10-year note down 19/32 in price to yield 2.41%.
The single currency remained under pressure on Tuesday following euro-bearish news over the weekend. Euro met renewed selling at 1.3137 in European morning and price then fell briefly below Mon's low at 1.3119 to a fresh near 1-year trough of 1.3111 before staging a minor rebound to 1.3134 in late New York.
The British pound penetrated last Mon's low at 1.6535 due to dollar's broad-based strength. Cable tumbled to a fresh near 5-month low at 1.6472 near New York close. British Finance Minister Osborne said on Tuesday that he will deliver Autumn budget statement on Dec. 3.
White House said U.S. and allies will discuss plans to significantly increase NATO response force readiness amid Ukraine crisis.
In other news, the International Monetary Fund (IMF) warned on Tuesday that Ukraine may need as much as $19 billion in additional funds from donors if its conflict with pro-Russian separatists continues during 2015. Russia's Lavrov said party of war in Kiev is pushing for NATO membership in order to disrupt peace efforts; party of war in Kiev is supported by Washington, European nations n NATO. Ukrainian military spokesman said on Tuesday that 15 Ukrainian military service personnel killed in the past 24 hours.
Wednesday will see the release of U.K. BRC shop price index, China's NBS non-manufacturing PMI, Australia's GDP, China's HSBC services PMI, German and eurozone and U.K. Markit services PMI, eurozone retail sales, U.S. Redbook, ISM-New York index, Canada's rate decision, U.S. factory orders, durable goods and Fed's Beige book.
Dollar rises broadly on robust U.S. ISM manufacturing PMI
U.S. dollar jumped against the Japanese yen in Tokyo morning on Tuesday on improved risk appetite due to the rally in Nikkei-225 index. Price later rose to a fresh 8-month high of 105.21 in NY morning after the release of much stronger-than-expected U.S. ISM manufacturing PMI which came in better-than-expected at 59.0 versus economists' forecast of 56.8. U.S. Treasuries fell further on the data, with the 10-year note down 19/32 in price to yield 2.41%.
The single currency remained under pressure on Tuesday following euro-bearish news over the weekend. Euro met renewed selling at 1.3137 in European morning and price then fell briefly below Mon's low at 1.3119 to a fresh near 1-year trough of 1.3111 before staging a minor rebound to 1.3134 in late New York.
The British pound penetrated last Mon's low at 1.6535 due to dollar's broad-based strength. Cable tumbled to a fresh near 5-month low at 1.6472 near New York close. British Finance Minister Osborne said on Tuesday that he will deliver Autumn budget statement on Dec. 3.
White House said U.S. and allies will discuss plans to significantly increase NATO response force readiness amid Ukraine crisis.
In other news, the International Monetary Fund (IMF) warned on Tuesday that Ukraine may need as much as $19 billion in additional funds from donors if its conflict with pro-Russian separatists continues during 2015. Russia's Lavrov said party of war in Kiev is pushing for NATO membership in order to disrupt peace efforts; party of war in Kiev is supported by Washington, European nations n NATO. Ukrainian military spokesman said on Tuesday that 15 Ukrainian military service personnel killed in the past 24 hours.
Wednesday will see the release of U.K. BRC shop price index, China's NBS non-manufacturing PMI, Australia's GDP, China's HSBC services PMI, German and eurozone and U.K. Markit services PMI, eurozone retail sales, U.S. Redbook, ISM-New York index, Canada's rate decision, U.S. factory orders, durable goods and Fed's Beige book.
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