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Asian markets up, Nikkei shudders after a new quake

2011-04-08 07:47:25 Asian markets have mostly gone higher on Friday with the Nikkei Index shaken after a new earthquake hit Japan, triggering panic on investors with the country still struggling to take control over troubled Fukushima nuclear complex.The Nikkei Index dropped 0.6% on early trade, right after a 7.1 magnitude earthquake hit the North East area of the country, and bounced to 1.5% positive on afternoon trading in Japan,...

EUR/AUD trimming losses, away from 5-week low

2011-04-08 05:33:57 After being unable to make fresh new lows at 1.2900 vicinity early this year, EUR/AUD rallied strongly on anticipation of the rate hike campaign the ECB seems to have embarked upon, with April 7th marking the first of what may be a series of hikes this year.The wild up legs seen faltered abruptly mid last month around 1.4300 amid investor's incredulity to the large reversal from the...

Crude oil calm at 2½-year highs

2011-04-07 12:36:35 Crude futures remain at 2½ year highs, as market focus is on the upcoming ECB rate decision. The most active contract currently trades consolidated at $108.82/barrel after hitting a high of $109.15/barrel just prior.Dollar-denominated commodities across the board have benefited from a weaker greenback in recent sessions, as traders price in a widely expected ECB rate hike which will be announced in the coming moments. What´s...

Euro softens to the lead of ECB

2011-04-07 11:39:53 Euro rallies seen during the last two weeks were halted yesterday after reaching multi-month highs against Dollar and Yen, and the Common Currency has been pulling lower today, weighed by profit taking ahead of ECB monetary policy decision.EUR/USD rally from 1.4020 low on March 28 halted yesterday at 13-month high 1.4350, and the pair has pulled back below 1.4300, trading at 1.4270 ahead of ECB.

AUD/USD, back to test 1.0480, long-term high

2011-04-07 09:34:01 Australian Dollar rally from mid-March lows extended after bouncing from 1.0290 on Tuesday, to reach a fresh 28-year high, at 1.0480 on Asian session, and after a moderate retreat to 1.0450, the pair has bounced up at European session opening to retest 1.0480 high.On the upside, above 1.0480 (Apr 66 high), the pair might find resistance at 1.0500 and then 1.0530 (uptrend line from November high). On the downside, immediate...

GBP/USD: Indicators remain positive

2011-04-07 06:55:28 Pound's pullback from 1.6365 high yesterday might have been a correction, according to technical analyst, who sees technical indicators suggesting further appreciation while 1.6205 supports is respected.On the upside Harmer points out to 1.6400 immediate targets: "We are looking a little bit weaker today, but this would only be correction as we still have positive technical indicators suggesting the topside is not yet over. We have...

Aussie rushes as employment numbers improve

2011-04-07 05:09:49 The Australian Dollar has spiked higher in recent minutes after robust employment numbers. AU added 37,800 new jobs from a previous drop of 10,100 in February, surpassing better expectations of rises up to 22,000. The jobless rate also moves lower to 4.9% from 5% last month.AUD/USD is currently aiming to touch 1.0500; so far the peak has been 1.0475. AUD/JPY has pushed higher, just short of...

GBP/USD, supported at 1.6265, back past 1.6300

2011-04-06 12:28:05 Pound's rebound from yesterday's low at 1.6190 was halted at 1.6365 and the pair plunged about 100 pips on the back of downbeat UK manufacturing production figures, to find support at 1.6265 area and pick up to levels above 1.6300.On the upside, immediate resistance lies at 1.6365 (day high), and above here 1.6405 (Mar 22 high) and 1.6465 (Jan 2010 high). On the downside, immediate support lies at 1.6265 (day...

Gold bullion hits new record above $1460

2011-04-06 10:06:37 Continuing it´s record-breaking upside momentum of late, gold futures once again push fresh historic highs today. The most active contract for June delivery peaked at $1460.20/ounce in early trade over Europe, where it remains in range of by mid-day.Overall uncertainty in MENA as well as concerns of unsustainable sovereign debt in the Eurozone underpins the yellow metals strength due to strong safe-haven demand. What´s more, inflationary pressures seen across the...

In spite of China's rate hike Asian markets boom: Dollar and Yen dip

2011-04-06 07:24:01 Asian markets are trading slightly higher on Wednesday with market sentiment somewhat brighter on advances at Japanese Fukushima nuclear plant, and despite a widely expected rate hike in China. Regarding currencies, Euro and Pound have risen sharply while the Yen dropped to new lows.Japanese Nikkei Index advanced 0.2%, while Hong Kong Hang Seng Index rose 0.5% and Australian ASX index edged 0.2% up. South Korean Kospi Index...
 
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