NEW YORK, July 26- A buoyant yen and U.S. oil prices at three-month lows kept stock markets on the defensive on Tuesday as investors awaited central bank meetings this week that will unveil new stimulus in Japan and may provide clues on U.S. interest rates. The yen hit two-week highs against the euro and more than one-week highs against the dollar as traders dialed... » Read More
As Japan’s nuclear crisis intensified Wednesday, governments across Europe remained at odds over whether to scale back nuclear power programs or continue plans to expand, reports the New York Times.
It was a mixture of historical technical levels and algorithmic trading that rocketed the yen to an all-time high of 76.25 against the dollar Thursday, according to Thanos Papasavvas, head of currency management at Investec Asset Management.
Here's what you should be watching Thursday, March 17.
The world economy is still very fragile and the impact of the Japanese earthquake and the nuclear crisis is distressing, Stephen Roach, non-executive chairman at Morgan Stanley, Asia, told CNBC in an interview.
The complexity and uncertainty surrounding Japan's nuclear crisis has created a great divide between investors who are now running from risk and those who think they can ride it out.
The yen rallied to a new all-time high against the dollar as traders speculated G-7 central bankers may be getting ready to intervene to drive the currency lower.
The Japanese Yen has been gaining strength against the dollar following the tsunami and Japan's subsequent nuclear crisis—so much so that I thought I was reading the chart backwards.
Traders have started souring on some emerging market currencies this week, and the fun may just be starting.
Because of Japan’s many troubles, before and after recent events, the Asia nation could face recession again, Stephen Roach, Morgan Stanley’s non-executive chairman Asia, told CNBC Wednesday.
The yen hit a four-month high against the dollar, and Bahrain's central bank is on the move — it's time for your FX Fix.
The March 2011 earthquake off the coast of Japan has rocked international markets as the world tries to gauge the reality of the human and economic devastation in the country.
As investors have rushed to safe-haven currencies, the Canadian and Australian dollars have been hit hard - maybe too hard.
Nouriel Roubini, the New York University economist who gained renown for predicting the financial crisis, sees dark days ahead for the yen.
It's a bad day to hold a risky currency, but anyone with Swiss francs, or even yen, is sitting pretty right now. It's time for your FX Fix.
The market reactions to the tragic events in Japan over the last few days have been rational and investors will need convincing the nuclear crisis has been averted before any rally according to Bob Parker, a senior advisor to Credit Suisse in London.
The Japanese earthquake changed interest-rate expectations around the world and will boost the dollar as the yen loses its safe-haven status, according to Hans Redeker, the global head of foreign exchange strategy at BNP Paribas in London.
Following the huge losses on the Nikkei, with more than $700 billion dollars wiped off the Japanese market in just two sessions, one economist is predicting the tragic events in Japan will be an "excuse" 'to move to quantitative easing in all major markets.
It is worth remembering that it is only a matter of weeks ago since Standard & Poor's cut Japan's sovereign debt rating by one notch to AA- (the first cut since 2002), saying that the government lacked a "coherent strategy” for dealing with its growing debt burden.
Japanese markets are behaving consistent with recent post-disaster pattern: a lower stock market, lower government bond yields and a mixed outcome for the currency.
PIMCO CEO Mohamed El-Erian shared his thoughts on Japan's economy, following the tragic earthquake and tsunami that hit that nation Friday. El-Erian wrote that five factors will dominate the economic outlook, as the whole world is hoping the tragedies will soon give way to stories of rescues and recovery of a society that is suffering enormous pain and disrupting uncertainties.