US DOLLAR - USD Loses Ground
The United States' currency, the Dollar lost considerable ground against other major currencies worldwide while its Australia and New Zealand counterparts increased after upbeat data was released for the two nations.
Meanwhile the ICE dollar index, a technical indicator that is used as a measure for the greenback against 6 of the world's major currencies, went down from 79.790 to 79.616 late in the trade this Monday.
The USD further got to incur losses after reports came in that indicated that the US consumer confidence for the month of January had fallen down to the lowest level since 2011. According to data released from the Conference Board many traders were not happy with the consumer confidence index that had fallen tumbling down to 58.6 this month, far away from its estimated value of 64.3.
The WSJ Dollar Index, another technical indicator which unlike ICE Dollar Index is used to measure the Dollar's performance against a greater array of currencies fell to 70.86 from its previous value of 71.04.
The Australian dollar traded at $US1.0461 Meanwhile, the New Zealand dollar appreciated to $US0.8368
EURO
BULL FIGHT FOR EURO
The big Euro bulls seemed to be battling it out in order to finally break the fourteen month high against the US Dollar and trip the barriers at the level of $1.3500.
The ECB or the European Central Bank did not give any indications, in fact seemed more or less disinclined to follow any more easing measures. This unexpectedly gave Euro a good yield advantage. The seventeen nation currency made good use of that advantage as it reached the $1.3490 level after its previous high of $1.3497.
JAPANESE YEN
BUDGET SET FOR 2013
The Japanese government under the leadership of PM Mr. Shinzo Abe approved a historic 92.61 trillion yen annual budget for the financial year of 2013.
A great deal of priority was given to the public works projects along with some support inclined for the benefit of small businesses while on the downside of it huge cuts were made in the grants to municipalities and welfare benefits for the common people.
The administration in control made it more than just clear that it had all the intentions to focus on revitalizing the trouble Asian economy, while spending not more than 103 trillion yen under a unique budget set for a time period of fifteen months. As far as the supplementary budget is concerned, it has been allotted the cap of 20.2 trillion Yen.
CRUDE OIL
3 MONTHS HIGH FOR CRUDE ON RECOVERY REPORTS
The troublesome commodity Brent crude in an anticipated move traded at levels close to a high not seen for the past 3 months this Tuesday.
This came in after reports were released from Germany to South Korea putting forth a signal that showed an increase in the confidence in the economies worldwide and therefore only temporarily spurring the demand for oil.
The price of Brent for the delivery in the month of March settled about 21 cents higher which was equivalent o a considerably small 0.2%at $113.69 a barrel on the ICE Futures Europe exchange.
STOCKS
Stocks advance rally, Wall St. Inches up
The stocks in the United States were seen advancing upwards the lead being taken by the defensive sectors with a sign that the cash piles were recently moving towards the market was put to good use by investors causing the market to pick up on gains over all.
The Standard and Poor's continued delivering its best performance seen after a very long time (since October last year to be exact) and probably its best January since all the way back in 1997 as almost 55 Million Dollars were poured in by investors into mutual funds. The Dow Jones industrial average traded around the 14 thousand mark, again a level not seen since October 2007.
Meanwhile the ICE dollar index, a technical indicator that is used as a measure for the greenback against 6 of the world's major currencies, went down from 79.790 to 79.616 late in the trade this Monday.
The USD further got to incur losses after reports came in that indicated that the US consumer confidence for the month of January had fallen down to the lowest level since 2011. According to data released from the Conference Board many traders were not happy with the consumer confidence index that had fallen tumbling down to 58.6 this month, far away from its estimated value of 64.3.
The WSJ Dollar Index, another technical indicator which unlike ICE Dollar Index is used to measure the Dollar's performance against a greater array of currencies fell to 70.86 from its previous value of 71.04.
The Australian dollar traded at $US1.0461 Meanwhile, the New Zealand dollar appreciated to $US0.8368
EURO
BULL FIGHT FOR EURO
The big Euro bulls seemed to be battling it out in order to finally break the fourteen month high against the US Dollar and trip the barriers at the level of $1.3500.
The ECB or the European Central Bank did not give any indications, in fact seemed more or less disinclined to follow any more easing measures. This unexpectedly gave Euro a good yield advantage. The seventeen nation currency made good use of that advantage as it reached the $1.3490 level after its previous high of $1.3497.
JAPANESE YEN
BUDGET SET FOR 2013
The Japanese government under the leadership of PM Mr. Shinzo Abe approved a historic 92.61 trillion yen annual budget for the financial year of 2013.
A great deal of priority was given to the public works projects along with some support inclined for the benefit of small businesses while on the downside of it huge cuts were made in the grants to municipalities and welfare benefits for the common people.
The administration in control made it more than just clear that it had all the intentions to focus on revitalizing the trouble Asian economy, while spending not more than 103 trillion yen under a unique budget set for a time period of fifteen months. As far as the supplementary budget is concerned, it has been allotted the cap of 20.2 trillion Yen.
CRUDE OIL
3 MONTHS HIGH FOR CRUDE ON RECOVERY REPORTS
The troublesome commodity Brent crude in an anticipated move traded at levels close to a high not seen for the past 3 months this Tuesday.
This came in after reports were released from Germany to South Korea putting forth a signal that showed an increase in the confidence in the economies worldwide and therefore only temporarily spurring the demand for oil.
The price of Brent for the delivery in the month of March settled about 21 cents higher which was equivalent o a considerably small 0.2%at $113.69 a barrel on the ICE Futures Europe exchange.
STOCKS
Stocks advance rally, Wall St. Inches up
The stocks in the United States were seen advancing upwards the lead being taken by the defensive sectors with a sign that the cash piles were recently moving towards the market was put to good use by investors causing the market to pick up on gains over all.
The Standard and Poor's continued delivering its best performance seen after a very long time (since October last year to be exact) and probably its best January since all the way back in 1997 as almost 55 Million Dollars were poured in by investors into mutual funds. The Dow Jones industrial average traded around the 14 thousand mark, again a level not seen since October 2007.
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