Single Currency recovers as Euro Bonds Stabilize
The euro recovered on Thursday as the investors were optimistic on stabilization of euro bond yields. The yield on the Italian 10-year government bond fell back to 6.81 percent from 7 percent in reaction to which the euro touched its intraday high of 1.3540.
However, the Spanish government‘s 10-year bond still traded above the yield of 7 percent. The euro fell to 1.3458 against the US dollar on Thursday as compared to 1.3466 on Wednesday’s late trading hours.
The dollar index DXY which measures the US dollar’s performance against its major six rival currencies jumped to 78.298 on Thursday as compared to 78.261 on Wednesday’s North American trading session. The US dollar appreciated in reaction to positive jobs data. As per US labor department US jobless claims declined 5,000 to 388,000 for the week. The fall also happens to be biggest reduction since last seven months.
However, positive US economic data didn’t had much impact on stock markets as the as the Dow Jones Industrial Average fell 1.13 percent or 134.86 points to 11,770.73. Standard & Poor’s 500 index declined 1.68 percent or 20.78 points to 1,216.13 while NASDAQ composite plunged 1.96 percent or 51.26 points to 2,587.99 for the day.
The British Pound gained versus the US dollar to 1.5751 on Thursday as compared to 1.5730 on late Wednesday. Against the Japanese yen, the US dollar fell to 76.97 on Thursday as compared to 77.04 on Wednesday’s late trading hours.
Twitter •
Most Popular Content
- Pressure Mounts on the British Pound Following Autumn Budget
- Impact and Outlook for the U.S. Economy on Rate Cut
- Gold and Copper Markets Respond to Powell
- US Stock Market Faces Turbulence and Mixed Commodity Reactions
- Pound Holds Strong as Labour Wins with a Landslide
- Crude Oil Prices Rally as Inventory Declines and Rate Cut Hopes Emerge
- Strength in Gold and Copper Continues – But for How Long?
- Weak Payroll Data Sends Stocks Higher
Currency Articles - Nov 3, 2024 13:35 - 0 Comments
Pressure Mounts on the British Pound Following Autumn Budget
More In Currency Articles
Gold and Oil News - Aug 24, 2024 16:06 - 0 Comments
Gold and Copper Markets Respond to Powell
More In Gold and Oil News
- US Stock Market Faces Turbulence and Mixed Commodity Reactions
- Crude Oil Prices Rally as Inventory Declines and Rate Cut Hopes Emerge