The EUR recovered losses against the USD from a surprise weekend announcement that Italian Prime Minister Mario Monti plans to resign early. EUR/USD initially fell below 1.29 before ending the New York session at 1.2942, up from 1.2925 late Friday. Meanwhile, USD/JPY dipped to 82.35 from 82.50. Yen trading will likely be rangebound this week as investors eye Sunday's parliamentary elections in Japan. Polls Monday show that opposition leader Shinzo Abe maintains his comfortable lead over current Prime Minister Yoshihiko Noda, potentially ushering in a new government that will be more aggressive about easing monetary policy. The next Bank of Japan two-day meeting begins Dec 19, where the central bank is widely expected to ease monetary policy again. USD/CHF fell to 0.9335 from 0.9347. The Wall Street Journal Dollar Index traded at 70.369, up from 70.365. Treasury prices inched up, but stayed limited to their recent range as investors await a policy decision from the Federal Reserve and insights on how fiscal negotiations are proceeding; 5-year yields shed 0.5 bps to 0.617% while 10-year yields shed 0.9 bps to 1.618%. Stocks notched modest gains to start the week; the Dow added 0.1% while the Nasdaq added 0.3%. January Nymex crude settled 37 cents lower at $85.56 a barrel. Comex February gold rose $8.90 to settle at $1,714.40 a troy ounce.
Find us on Google+
No comments:
Post a Comment