Market Review - 26/08/2014 22:54GMT
Dollar climbs broadly on upbeat U.S. economic data
The greenback rose broadly against major currencies after the release of strong U.S. economic data. U.S. consumer confidence was 92.4 versus the economists' forecast of 89.0. U.S. durable goods came in at a record high at 22.6% versus forecast of 7.5% and previous revised figure of 2.7%. Euro fell to a fresh near 1-year low at 1.3164 on ECB stimulus hopes and strong U.S. economic data whilst dollar rebounded from 103.75 to 104.17 versus the Japanese yen.
Three regional Federal Reserve banks, Philadelphia, Kansas city, Dallas Federal Reserve banks renewed requests to raise discount rate by 25 basis points to 1% ahead of July FOMC meeting, according to minutes on Tuesday. U.S. dollar extended gains against major currencies in late New York on hopes U.S. policymakers will raise interest rates. The benchmark 10-year U.S. Treasury note slipped 1/32 in price to yield 2.39 percent. The 10-year German bund yield was last at 0.946 percent, down from 0.955 percent late Monday.
The British pound fell from 1.6595 to an intra-day low of 1.6540 (just abv Mon's fresh 4-1/2 month low at 1.6535) in late New York due to renewed dollar's strength elsewhere.
Russia's Putin said 'Ukraine crisis cannot be resolved through further escalation of force, or without launching peace dialogue with Ukraine's eastern regions.' Ukrainian military spokesman Lysenko said 'Ukrainian military has destroyed 12 armoured infantry carriers in Novoazovsk area using artillery n aircraft; captured Russian soldiers were not in Ukraine by mistake, they were on a special mission.' Russia's Utair airline says its MI-8 helicopter was shot down in South Sudan, according to preliminary information.
In other news, a U.N. statement said the U.N. Human Right Council will hold an emergency session in Geneva on next Monday on abuses being committed by Islamic State and other militant groups in Iraq.
Wednesday will see the release of Germany's Gfk consumer sentiment, Swiss UBS consumption indicator, France's business climate and Italy's consumer confidence. Investors are waiting for eurozone inflation data on Friday.
Dollar climbs broadly on upbeat U.S. economic data
The greenback rose broadly against major currencies after the release of strong U.S. economic data. U.S. consumer confidence was 92.4 versus the economists' forecast of 89.0. U.S. durable goods came in at a record high at 22.6% versus forecast of 7.5% and previous revised figure of 2.7%. Euro fell to a fresh near 1-year low at 1.3164 on ECB stimulus hopes and strong U.S. economic data whilst dollar rebounded from 103.75 to 104.17 versus the Japanese yen.
Three regional Federal Reserve banks, Philadelphia, Kansas city, Dallas Federal Reserve banks renewed requests to raise discount rate by 25 basis points to 1% ahead of July FOMC meeting, according to minutes on Tuesday. U.S. dollar extended gains against major currencies in late New York on hopes U.S. policymakers will raise interest rates. The benchmark 10-year U.S. Treasury note slipped 1/32 in price to yield 2.39 percent. The 10-year German bund yield was last at 0.946 percent, down from 0.955 percent late Monday.
The British pound fell from 1.6595 to an intra-day low of 1.6540 (just abv Mon's fresh 4-1/2 month low at 1.6535) in late New York due to renewed dollar's strength elsewhere.
Russia's Putin said 'Ukraine crisis cannot be resolved through further escalation of force, or without launching peace dialogue with Ukraine's eastern regions.' Ukrainian military spokesman Lysenko said 'Ukrainian military has destroyed 12 armoured infantry carriers in Novoazovsk area using artillery n aircraft; captured Russian soldiers were not in Ukraine by mistake, they were on a special mission.' Russia's Utair airline says its MI-8 helicopter was shot down in South Sudan, according to preliminary information.
In other news, a U.N. statement said the U.N. Human Right Council will hold an emergency session in Geneva on next Monday on abuses being committed by Islamic State and other militant groups in Iraq.
Wednesday will see the release of Germany's Gfk consumer sentiment, Swiss UBS consumption indicator, France's business climate and Italy's consumer confidence. Investors are waiting for eurozone inflation data on Friday.
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