Market Review - 21/07/2014 22:53GMT
U.S. dollar holds steady on concerns over mounting Gaza death toll
The greenback ended little changed but with a firm undertone against major currencies on Monday due to risk aversions on escalating violence in Gaza and Ukraine. Israeli jets, tanks and artillery continued to pound Gaza as the death toll from a two-week conflict topped 500. Reports that Ukrainian forces were moving into the eastern city of Donetsk.
U.S. dollar moved inside a tight range of 101.20-101.38 against the Japanese yen as trading volumes were light due to a holiday in Japan. The single currency rose briefly to 1.3549 in Asian midday after triggering some stops at 1.3740, however, the sell off in European shares knocked price lower to 1.3513 in U.S. morning before trading sideways. The British pound rebounded to 1.7099 in tandem with euro and then fell to an intra-day low of 1.7056 before recovering in late New York.
British PM Cameron said Russia's Putin must use his influence to end the conflict in Ukraine by halting supplies and training to separatists and said Russia cannot expect access to European markets, capital and technical expertise while it fuels a conflict in Ukraine; EU should consider hard-hitting economic sanctions against Russia unless Moscow changes course over Ukraine.
U.S. president Obama said international community must now focus on a ceasefire in middle east to stop fighting in Gaza; "we have to make sure that the truth is out" and that accountability exists in Ukraine after shooting down of Malaysian plane; investigators need immediate and full access to plane crash site; international teams are prepared to conduct investigation, but Russian-backed separatists continues to block investigation and access to wreckage.
Tuesday will see the release of China leading index, Japan leading index, Swiss trade balance, UK PSNB, PSNCR, CBI trends, U.S. CPI, core CPI, Redbook retail sales, home price and existing home sales.
U.S. dollar holds steady on concerns over mounting Gaza death toll
The greenback ended little changed but with a firm undertone against major currencies on Monday due to risk aversions on escalating violence in Gaza and Ukraine. Israeli jets, tanks and artillery continued to pound Gaza as the death toll from a two-week conflict topped 500. Reports that Ukrainian forces were moving into the eastern city of Donetsk.
U.S. dollar moved inside a tight range of 101.20-101.38 against the Japanese yen as trading volumes were light due to a holiday in Japan. The single currency rose briefly to 1.3549 in Asian midday after triggering some stops at 1.3740, however, the sell off in European shares knocked price lower to 1.3513 in U.S. morning before trading sideways. The British pound rebounded to 1.7099 in tandem with euro and then fell to an intra-day low of 1.7056 before recovering in late New York.
British PM Cameron said Russia's Putin must use his influence to end the conflict in Ukraine by halting supplies and training to separatists and said Russia cannot expect access to European markets, capital and technical expertise while it fuels a conflict in Ukraine; EU should consider hard-hitting economic sanctions against Russia unless Moscow changes course over Ukraine.
U.S. president Obama said international community must now focus on a ceasefire in middle east to stop fighting in Gaza; "we have to make sure that the truth is out" and that accountability exists in Ukraine after shooting down of Malaysian plane; investigators need immediate and full access to plane crash site; international teams are prepared to conduct investigation, but Russian-backed separatists continues to block investigation and access to wreckage.
Tuesday will see the release of China leading index, Japan leading index, Swiss trade balance, UK PSNB, PSNCR, CBI trends, U.S. CPI, core CPI, Redbook retail sales, home price and existing home sales.
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