U.S. data Mute Euro Rally. Euro stuck at around 11-month highs versus the U.S. dollar after the data showed U.S. durable goods orders rise above expectations, amid growing optimism about the euro zone. German data continues to improve as well add to the evidence from Europe's largest economy recovers. Overall, the major currency movements seen limited ahead of some crucial economic event this week, including the U.S. Federal Reserve meeting and the non-farm payrolls in January.
"Sentiment seems most investors tend to be neutral into the weekend will be filled by the important economic data from the U.S.," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington.
Upgrade Rating Facebook Prop Technology Sector
Shares of the tech sector continues to survive in the green zone in early trading this week, following some companies upgraded the stock rating by Wall Street analysts. Facebook shares pushed up more than 2.5% after an analyst Raymond James raised its rating on the social networking giant to 'outperform' and set a share price target at $ 38 per share. It could not be separated from the bright prospects for mobile business revenues and other Facebook ad format. Netflix Inc. also rose nearly 2% after Bernstein analyst stock price target raised to $ 125 per share from $ 71, although the ratings were maintained at the level of 'market perform'. The positive news also helped technology stocks, Apple Inc. is no exception. which gained about 2.4% so far. Microsoft Corp. and Hewllet-Packard Co. followed by each collecting 0.6% and 0.5%. Meanwhile, shares of Yahoo Inc. still seems difficult to move from the level of the opening, shortly before the release of quarterly earnings after the closing bell Monday.
Economic fears haunt Sterling
Worries about a fragile UK economy and the prospect of further monetary easing Sterling sunk to the lowest level 5-month low against the U.S. dollar. Performance Sterling helped exacerbated by expectations that Mark Carney, who will officially served as the Governor of the BoE later this year, probably will take more aggressive action to spur growth. Sterling was also weighed down by increased risk of downgrade credit rating 'AAA' for Britain. "Sterling will continue to be under pressure given the Dollar British economy that was falling apart. Moreover, a new central bank governor also seemed ready to pour more stimulus to support growth," said Ned Rumpeltin, currency analyst at Standard Chartered Bank. "With high inflation and weak growth, who want to buy British currency ?"
'Short Squeeze' Stop a moment, Yen Fall
Yen try to move away from its weakest level since 2010 versus the U.S. dollar as technical indicators signaled if the decline in the Japanese currency was too excessive. Action short squeeze some investors also helped the yen, which had previously been a record weekly drop longest period. But analysts expect the yen weakened to persist given the prospect of further monetary stimulus by the government of Japan to fight deflation.
"Sentiment seems most investors tend to be neutral into the weekend will be filled by the important economic data from the U.S.," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington.
Upgrade Rating Facebook Prop Technology Sector
Shares of the tech sector continues to survive in the green zone in early trading this week, following some companies upgraded the stock rating by Wall Street analysts. Facebook shares pushed up more than 2.5% after an analyst Raymond James raised its rating on the social networking giant to 'outperform' and set a share price target at $ 38 per share. It could not be separated from the bright prospects for mobile business revenues and other Facebook ad format. Netflix Inc. also rose nearly 2% after Bernstein analyst stock price target raised to $ 125 per share from $ 71, although the ratings were maintained at the level of 'market perform'. The positive news also helped technology stocks, Apple Inc. is no exception. which gained about 2.4% so far. Microsoft Corp. and Hewllet-Packard Co. followed by each collecting 0.6% and 0.5%. Meanwhile, shares of Yahoo Inc. still seems difficult to move from the level of the opening, shortly before the release of quarterly earnings after the closing bell Monday.
Economic fears haunt Sterling
Worries about a fragile UK economy and the prospect of further monetary easing Sterling sunk to the lowest level 5-month low against the U.S. dollar. Performance Sterling helped exacerbated by expectations that Mark Carney, who will officially served as the Governor of the BoE later this year, probably will take more aggressive action to spur growth. Sterling was also weighed down by increased risk of downgrade credit rating 'AAA' for Britain. "Sterling will continue to be under pressure given the Dollar British economy that was falling apart. Moreover, a new central bank governor also seemed ready to pour more stimulus to support growth," said Ned Rumpeltin, currency analyst at Standard Chartered Bank. "With high inflation and weak growth, who want to buy British currency ?"
'Short Squeeze' Stop a moment, Yen Fall
Yen try to move away from its weakest level since 2010 versus the U.S. dollar as technical indicators signaled if the decline in the Japanese currency was too excessive. Action short squeeze some investors also helped the yen, which had previously been a record weekly drop longest period. But analysts expect the yen weakened to persist given the prospect of further monetary stimulus by the government of Japan to fight deflation.
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