Dollar Rise Since CPI Data Released. The dollar and U.S. Treasury prices persist at high levels on Wednesday after a reported level of consumer inflation rose appropriate level economists' expectations. Furthermore, investors will await the Fed's Beige Book, which is a data summary of the economies of many regions and would typically be used in the central bank's monetary policy meeting next. Observed so far the U.S. dollar index edged up 0.04% at 79.86 level, after briefly to its lowest intraday highs at 79.66 and at 79.95 daily.
Technically, the U.S. dollar intraday bias to bullish, but it takes penetration consistently above 79.95 area to trigger further bullish momentum targeting the next resistance area at 80.15. On the bottom side, the nearest support level appears in the 79.65 area, fell again below the area can bring the price to a neutral zone but bullish scenario remains intact as long as the price stayed above its level double bottom at around 79.40.
Aussie Slips After Sentiment Data
The Australian dollar traded lower after the data showed consumer confidence moved only slightly from 2-month lows, highlighting concerns about the country's economic slowdown kangaroo. Australian consumer sentiment index released by Westpac Banking Corp. and the Melbourne Institute is only up 0.6% in January to 100.6 from 100.03 in the previous month. World Bank's decision to cut its global growth forecast for 2013 also helped to dampen demand for Aussie.
"Domestic data during the past week has not shown improvement, and it gave a little pressure on the Aussie," said Derek Mumford, director of Rochford Capital in Sydney. "Similarly, today (Wednesday), the data do not yet reflect the confidence of a recovery."
Renesas Ready to Cut Workforce
Renesas Electronics Corp. said Thursday that the company proposes to reduce further the discourse about 3,000 employees over to union workers to streamline the corporate structure. Renesas, which is the world's biggest supplier for chip micro controller, who said that previous cuts not yet up, but by trimming the workforce by the early retirement of its employees would be more appropriate. Workers over the age of 40 years in the company of the child and the parent will be asked to perform in the early retirement scheme.
Sharp Will Still denting Expansion In China
Sharp Corp. said Thursday that the decision was made to produce the television business lines in China is still not confirmed, following a media report which said that the company of Japan is planning to sell LCD television assembly in Nanjing to Lenovo Group Ltd. of China. Nikkei reported that Sharp and Lenovo will soon sign a memorandum of understanding this month, which the Japanese company will sell its television assembly operations unit, while unit R & D and sales will still form the joint venture.
Nikkei Gains Amid Weakening Asia
Asian stock markets mostly fell on Thursday's trading, while Japan's Nikkei increase most position, the related downfall of the Japanese currency at the day before. Among the Asian stock markets moved lower, the Hang Seng index of Hong Kong trading down 0.1% after the opening session with a rose, with the Shanghai index fell 0.8%, South Korea's KOSPI fell 0.3% and market Singapore, the Straits Times that move down. For the stock market moves up, the stock gained 0.2% after the Nikkei fell as much as 2.6% yesterday, while the Australian stock market, the S & P / ASX 200 rose 0.9% move.
Technically, the U.S. dollar intraday bias to bullish, but it takes penetration consistently above 79.95 area to trigger further bullish momentum targeting the next resistance area at 80.15. On the bottom side, the nearest support level appears in the 79.65 area, fell again below the area can bring the price to a neutral zone but bullish scenario remains intact as long as the price stayed above its level double bottom at around 79.40.
Aussie Slips After Sentiment Data
The Australian dollar traded lower after the data showed consumer confidence moved only slightly from 2-month lows, highlighting concerns about the country's economic slowdown kangaroo. Australian consumer sentiment index released by Westpac Banking Corp. and the Melbourne Institute is only up 0.6% in January to 100.6 from 100.03 in the previous month. World Bank's decision to cut its global growth forecast for 2013 also helped to dampen demand for Aussie.
"Domestic data during the past week has not shown improvement, and it gave a little pressure on the Aussie," said Derek Mumford, director of Rochford Capital in Sydney. "Similarly, today (Wednesday), the data do not yet reflect the confidence of a recovery."
Renesas Ready to Cut Workforce
Renesas Electronics Corp. said Thursday that the company proposes to reduce further the discourse about 3,000 employees over to union workers to streamline the corporate structure. Renesas, which is the world's biggest supplier for chip micro controller, who said that previous cuts not yet up, but by trimming the workforce by the early retirement of its employees would be more appropriate. Workers over the age of 40 years in the company of the child and the parent will be asked to perform in the early retirement scheme.
Sharp Will Still denting Expansion In China
Sharp Corp. said Thursday that the decision was made to produce the television business lines in China is still not confirmed, following a media report which said that the company of Japan is planning to sell LCD television assembly in Nanjing to Lenovo Group Ltd. of China. Nikkei reported that Sharp and Lenovo will soon sign a memorandum of understanding this month, which the Japanese company will sell its television assembly operations unit, while unit R & D and sales will still form the joint venture.
Nikkei Gains Amid Weakening Asia
Asian stock markets mostly fell on Thursday's trading, while Japan's Nikkei increase most position, the related downfall of the Japanese currency at the day before. Among the Asian stock markets moved lower, the Hang Seng index of Hong Kong trading down 0.1% after the opening session with a rose, with the Shanghai index fell 0.8%, South Korea's KOSPI fell 0.3% and market Singapore, the Straits Times that move down. For the stock market moves up, the stock gained 0.2% after the Nikkei fell as much as 2.6% yesterday, while the Australian stock market, the S & P / ASX 200 rose 0.9% move.
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