The dollar edged higher against the euro Tuesday, as markets looked past the
headlines of European Union’s agreement to provide aid to Spain to search for
details, with risk appetite also subdued after disappointing Chinese trade data.
The common currency /quotes/zigman/4867933/sampled EURUSD -0.15% dropped back below the $1.23 handle in Asian trading hours, and was buying $1.2287, compared with $1.2312 late Monday in North American trading.
The ICE dollar index /quotes/zigman/1652083 DXY +0.03% , which measures the greenback against a basket of six major global currencies, including the euro, climbed to 83.280 from 83.165.
The drop in the euro came despite a Eurogroup statement that it supported giving Spain more time to contain its fiscal deficit, with Eurogroup chief Jean-Claude Juncker saying that a sum of €30 billion would be made available to assist Spanish banks by the end of this month. Read full story.
The Eurogroup meeting outcome came as Spain’s 10-year bond yields crept back above the feared 7% level on Monday, reversing the declines that followed a recent meeting of European Union leaders.
However, the announcements couldn’t keep the euro supported.
“Key questions surrounding secondary-market interventions and preferred creditor status beyond Spanish bank aid remain unanswered,” Sue Trinh, a senior currency strategist at RBC Capital Markets, wrote in a report.
RBC’s Trinh said a defensive mood dominated markets after the “lackluster” Eurogroup statement and weaker Chinese import growth.
Data released earlier Tuesday by Chinese customs authorities showed that while the country’s June, exports growth exceeded expectations, the 6.3% increase in monthly imports fell short of expectations. Read full story on the Chinese data.
Among other major currency pairs, the British pound /quotes/zigman/4867886/sampled GBPUSD -0.11% dropped to $1.5506 from $1.5518 late on Monday, while against the Japanese currency, the dollar /quotes/zigman/4868099/sampled USDJPY -0.24% was changing hands for ¥79.49, compared with ¥79.59.
The Australian dollar /quotes/zigman/4867876/sampled AUDUSD -0.23% , meanwhile, dropped to $1.0173 from $1.0194
The common currency /quotes/zigman/4867933/sampled EURUSD -0.15% dropped back below the $1.23 handle in Asian trading hours, and was buying $1.2287, compared with $1.2312 late Monday in North American trading.
The ICE dollar index /quotes/zigman/1652083 DXY +0.03% , which measures the greenback against a basket of six major global currencies, including the euro, climbed to 83.280 from 83.165.
Stocks end lower as Europe worries linger
Stocks fell to their lowest level this month as investors worried about Europe's continuing debt crisis and the outlook for corporate earnings.The drop in the euro came despite a Eurogroup statement that it supported giving Spain more time to contain its fiscal deficit, with Eurogroup chief Jean-Claude Juncker saying that a sum of €30 billion would be made available to assist Spanish banks by the end of this month. Read full story.
The Eurogroup meeting outcome came as Spain’s 10-year bond yields crept back above the feared 7% level on Monday, reversing the declines that followed a recent meeting of European Union leaders.
However, the announcements couldn’t keep the euro supported.
“Key questions surrounding secondary-market interventions and preferred creditor status beyond Spanish bank aid remain unanswered,” Sue Trinh, a senior currency strategist at RBC Capital Markets, wrote in a report.
RBC’s Trinh said a defensive mood dominated markets after the “lackluster” Eurogroup statement and weaker Chinese import growth.
Data released earlier Tuesday by Chinese customs authorities showed that while the country’s June, exports growth exceeded expectations, the 6.3% increase in monthly imports fell short of expectations. Read full story on the Chinese data.
Among other major currency pairs, the British pound /quotes/zigman/4867886/sampled GBPUSD -0.11% dropped to $1.5506 from $1.5518 late on Monday, while against the Japanese currency, the dollar /quotes/zigman/4868099/sampled USDJPY -0.24% was changing hands for ¥79.49, compared with ¥79.59.
The Australian dollar /quotes/zigman/4867876/sampled AUDUSD -0.23% , meanwhile, dropped to $1.0173 from $1.0194
0 comments:
Post a Comment