Tuesday June 1, 2010 - 05:12:19 GMT
Share This Story
Imperial FX Online - www.imperialfxonline.com
ImperialFXonline : Daily FX Market ReviewYen edges higher in holiday-thinned tradingJoin Us & Strategize Your FX Tradingwww.imperialfxonline.com
The yen was able to make small gains across the board in a somewhat thin trading session on Monday, with the U.K. and U.S. markets closed for the Spring Bank and Memorial Day holiday respectively, as investors remained wary of accumulating riskier assets in the face of the credit ratings downgrade of Spain by Fitch Ratings agency last week. The Japanese currency rose the most against the euro and Australian dollar, with the latter seeing some selling pressure ahead of the Reserve Bank of Australia's rate decision on Tuesday (rates are expected to remain at 4.5%).
In addition, Chinese Premier Wen Jiabao said in speech in Japan that the global economy is vulnerable to the risk of a double-dip recession due to levels of high unemployment and the sovereign debt problems suffered by countries such as Greece. Stocks in Asia and Europe ended the day mixed with volume being relatively lower. The euro was unable to hang on to its early gains and slipped back below the 1.2300 level against the greenback to around 1.2270.
Data out of Canada was on the positive side, with stronger-than-expected GDP growth seen in the first quarter and firmer prices for industrial products and raw materials. The loonie rose over 1 percent against its U.S. counterpart ahead of the Bank of Canada's rate decision later on Tuesday, with the central bank likely to increase rates by 25 basis points from its record low of 0.25%.Join Us & Strategize Your FX
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."