The Euro continues to rally in Asia trading on the news that the IMF intends to bolster its funds in order to help the Eurozone’s leaders tackle the ongoing crisis there.
In a report published today, the World Bank dramatically reduced its global economic growth expectations for the coming years, a sign signaling to both investors and global leaders that the Bank expects another global economic crisis.
Short covering helped to push the Euro pushed higher during the Asian trading session as higher risk assets gained support following news that China’s economy slowed less than previously expected in the last quarter of 2011.
Following the downgrades of France and Austria on Friday, and the threat of several more before the week is out, the Euro is under fresh pressure, and touched on an 11-year low against the safe haven Japanese Yen.
In Asian trading, the Euro steadied following a strong response to the Spanish and Italian debt auctions held yesterday and analysts suggest further that the Euro may now be stabilizing against the Australian Dollar.
The common currency Euro clawed for gains in Asian trading today, coming off a newly struck 16-month low, but analysts say that gains will be capped as Spain’s sovereign debt auction looms.
In Asian trading, the Euro slipped further against the U.S. Dollar, indeed falling against most currencies, as investors trade cautiously in the day ahead of an ECB policy meeting and a Spanish bond auction.
The Euro managed to hold steady in Asian trade, but analysts say it remains vulnerable as the week progresses and two key debt auctions loom. As reported at 12:31 pm, the Euro was trading at $1.2767, rebounding from $1.2666, the recently struck 16-month low.
The Euro struck a 16-month trough against the U.S. Dollar in Asian trading as negative headlines out of the Eurozone weigh. As reported at 11:19 a.m. (JST) in Toyo, the Euro was trading 0.2% lower at $1.2694, recovering from an earlier struck low of $1.2666 struck on the EBS trading platform.
The Euro continues to come under pressure in Asian trading, hovering near to a 16-month trough against the U.S. Dollar, and analysts expect more declines ahead. As the first full trading week of the new year draws to a close, market players worry that there is little relief in sight, with two key bond sales ahead next week.
In Asian trading, the Euro continues to hold close to multi-year lows versus the Australian Dollar and Japanese Yen as Eurozone troubles come back into focus ahead of an auction of French sovereign debt later in the trading day.
In Asian trading, the Euro held overnight gains following the largest single day rally for the common currency in almost two months, driven by whetted risk appetite and short covering.
In Asian trading, the Euro traded higher against the safe haven U.S. Dollar and Japanese Yen, but briefly struck a new low against the Australian Dollar precipitated by some short covering and an underpinning of investors’ risk appetite.
The 10-year anniversary of the Euro came and went on Sunday with very little fanfare, as reasons to celebrate the common currency appear far and few between.
In the year’s final day of trading the Australian and New Zealand Dollars rose against most of their major trading partners, recovering from one-week lows as Asian stocks rallied to increase demand for higher-yielding assets.