Europe Shares Close Mixed; Italy, Spain Lag
Australian Dollar
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The yen rose from a 4-1/2-year low against the dollar after Japan's economy minister suggested the currency might have weakened enough.
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The yen tumbled to its lowest in more than four years against the dollar on Friday on data showing Japanese investors were buying more foreign assets.
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The U.S. dollar skyrocketed to its highest level against the Japanese yen in over four years on Thursday, piercing the key technical and psychological 100 yen-per-dollar mark.
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Greg Matwejev, Director, FX Hedge Fund Sales and Trading at Newedge says the Bank of Korea rate cut was not really a surprise considering previous easing from other major central banks. John Woods, Chief Investment Strategist at Citi Private Bank joins in the conversation.
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Nathan Bell, Research Director at the Intelligent Investor says Australian investors are facing a once in a lifetime opportunity to invest in overseas assets with much cheaper valuations than domestic assets.
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The euro rose against the dollar after an unexpected rise in German industrial output was seen making a near-term euro zone interest rate cut less likely.
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MBIA has settled with Societe Generale for $350 million, reports CNBC's Kate Kelly.
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Thomas Averill, Managing Director at Rochford Capital says it is only a matter of time for the USD/JPY to break through the 100 level and meanwhile there will be some consolidation. Nicholas Ferres, Investment Director, Global Asset Allocation at Eastspring Investments joins in the conversation.
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Ray Barros, CEO of Ray Barros Trading Group, gives us his fundamental and technical analysis on U.S. stocks and takes a look at the impact of China on the AUD.
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SYDNEY/ WELLINGTON, May 8- The Australian dollar struggled near a two-month low against the U.S. dollar on Wednesday as investors speculated that more interest rate cuts were in the cards after the Reserve Bank of Australia cut its official rate to a record low on Tuesday.
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The euro firmed across the board on Tuesday after data showing German industrial orders beat forecasts, but the prospect of further monetary easing could limit its gains.
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Joseph Trevisani, Worldwide Markets, takes a look at global economies, as the dollar-yen trades edges closer to the $100 mark.
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Ivan Colhoun, chief economist for Australia at ANZ, describes the Australian central bank's rate cut as an "insurance move" meant to weaken the currency and offset mining sector weakness.
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LONDON, May 7- The euro stayed under pressure on Tuesday on the ECB chief's comments on further rate cuts, while Australia's dollar slid to a two-month trough after its central bank cut rates to a record low.
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SYDNEY/ TOKYO, May 7- The Australian dollar slumped to a two-month trough on Tuesday after the Reserve Bank of Australia cut rates to a record low, while the euro remained capped as the common currency was unable to shake off dovish comments from the European Central Bank chief.
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SYDNEY/ TOKYO, May 7- The euro struggled to gain any momentum on Tuesday after the European Central Bank chief reiterated his readiness to take more action while the Australian dollar nursed losses as bears bet on the prospect of a cut in interest rates later in the session.
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The U.S. dollar rose for a third straight session against the yen on Monday and looked set to make another run at the 100 yen level on renewed optimism about the U.S. economy.
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*Aussie caught between solid local, soft China data. WELLINGTON/ SYDNEY, May 6- The Australian dollar struggled on Monday even as quarterly retail sales rose at the fastest pace in six years, with markets still split down the middle on whether the Reserve Bank of Australia will cut interest rates this week.
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Chris Tedder, Research Analyst at FOREX.com says it is more prudent for the RBA to postpone a rate cut to next month.
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WELLINGTON/ SYDNEY, May 6- The Australian dollar eased on Monday even as retail sales for the quarter showed a healthy reading, with markets still split down the middle on whether the Reserve Bank of Australia will cut rates this week. *The Aussie lower at $1.0278, from $1.0305 early, but still a touch above Friday's $1.0265 in late trade.
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The dollar surged more than 1 percent against the yen on Friday after strong U.S. April jobs data fueled optimism the U.S. economy may be more resilient than some had feared.