Futures Market News
Euro climbs against dollar, yen from stronger climate in Germany
Oct 16, 2012 11:00 AM
The common currency of the European Union on Tuesday benefited from stronger investor sentiment in Germany and achieved gains against the U.S. dollar and the Japanese yen, according to published reports.
Spain approaching a bailout to rescue its debt-hobbled banking sector also boosted the monetary unit's value, according to Reuters. The 17-nation bloc's currency notched a fourth straight day of advances against the yen.
"The better the chances of a bailout for Spain, the more risk-on that is," European hedge fund sales head Neil Jones at Mizuho Corporate Bank Ltd. in London told Bloomberg. "You've got a market that's not really prepared for the upside or risk on, so the positions that are out there are designed to hedge against euro catastrophe."
The euro's gains during the past week have been around 0.6 percent, which places it behind only the Swiss franc as far as best-performing monetary units monitored by Bloomberg.
The index of expectations for investors and analysts, a study distributed by the ZEW Center for European Economic Research in Manheim, gained in September to minus 11.5 from minus 18.2, according to Bloomberg. The index probes financial and economic developments six months in advance.
Don’t Miss Our News Updates!
Follow our breaking news stories and get a unique take on current events that may impact the commodity futures markets. Multiple new articles are posted each weekday. Subscribe to our commodity news updates by email, and receive real-time updates with our RSS feed, follow us on Twitter @DanielsTrading, become a fan on Facebook to stay informed.
SPECIAL OFFER: Tax-Advantaged Forex Investing
Did you know that you can invest individual retirement funds (IRA’s) into forex?
Have you been following forex and have the time to devote to trading, but lack the free funds to invest? Tax advantaged forex investing may be for you.
Register for Your Free 2-Week Trial of the dt Insider Market Advisory!
With your free trial membership, you'll receive full access to our exclusive trade recommendation service and all of the timely and accurate trade information you need to feel comfortable participating in the markets.