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January 7, 2014

Global News January 7, 2014

Posted by: ffs @ 05:13 GMT Category: Daily Forex,Forex Market News

⇒ U.S. stocks closed lower on Monday, with the SandP 500 index falling for a third consecutive session after weaker-than-expected services-sector data. The Dow Jones Industrial Average fell 44.89 points, or 0.3%, to 16,425.10. The SandP 500 dropped 4.60 points, or 0.3%, to 1,826.77, and the Nasdaq Composite lost 18.23 points, or 0.4%, to 4,113.6 – Source: Marketwatch

⇒ Asian shares stabilized on Tuesday after four straight days of losses. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, not far from a three-week low touched on Monday. Japan’s Nikkei index shed 0.5 percent, adding to a 2.4 percent slide on Monday, its first trading day of 2014 – Source: Reuters

⇒ Janet Yellen, a key force behind the Federal Reserve’s unprecedented and controversial efforts to boost the U.S. economy, was confirmed by the Senate on Monday to lead the central bank just as it begins to unwind that stimulus. When she succeeds Ben Bernanke, whose second four-year term as Fed chairman expires on January 31, Yellen will become the first woman to run the Fed in its 100-year history and just one of a handful of women heading central banks globally – Source: Reuters

⇒ The euro snapped a gain versus the pound before data today forecast to show the region’s inflation approached the slowest level in four years. The euro was little changed at 83.07 pence as of 11:37 a.m. in Tokyo after rising 0.4 percent yesterday, the biggest advance since Dec. 11. It held at $1.3630. Japan’s currency weakened 0.1 percent to 142.19 per euro – Source: Bloomberg

⇒ Australia’s dollar weakened against most of its major peers on speculation its advance toward 90 U.S. cents was overdone after data showed traders increased bearish bets to the most in almost four months. The Aussie fell for the first time in four days versus the greenback, retreating from the highest level in almost a month. The total value of trade between Australia and its biggest trading partner China fell for the first time in five months. Government bonds rose, pushing yields lower, following a gain in U.S. Treasuries overnight. The Australian currency fell 0.5 percent to 89.27 U.S. cents as of 12:57 p.m. in Sydney. It touched 90.05 on Jan. 3, the highest level since Dec. 12. The Aussie was down 0.2 percent to NZ$1.0795 and declined 0.3 percent to 93.178 yen – Source: Bloomberg

⇒ Gold fluctuated after advancing to the highest level in three weeks as investors weighed the outlook for increasing physical consumption in Asia against slowing investment demand. Bullion for immediate delivery gained and lost at least 0.3 percent, before trading $4.39 higher at $1,242.46 an ounce at 10:20 a.m. in Singapore. Prices climbed to $1,248.51 yesterday, the highest since Dec. 16. Gold for February delivery rose 0.3 percent to $1,241.70 on the Comex after dropping yesterday by more than $30 in about a minute to a low of $1,212.60, spurring a 10-second trading halt – Source: Bloomberg

⇒ Australia’s trade balance improved slightly in November thanks mainly to a drop in imports from the previous month. Australia posted a seasonally adjusted trade deficit of A$118 million compared with a downwardly revised A$358 million shortfall in October, the Australian Bureau of Statistics said Tuesday. The figure was lower than analyst expectations of a A$400 million deficit derived from a Wall Street Journal survey of economists ahead of the data – Source: Marketwatch

⇒ U.S. private sector economic activity growth slowed slightly in December, with the services sector reading also edging lower, an industry report showed on Monday. Financial data firm Markit said its composite Purchasing Managers Index (PMI) – a weighted average of its manufacturing and services indexes – measured 56.1 in December, down just slightly from the 56.2 posted last month, as well as the “flash” or preliminary December reading of the same amount. A reading above 50 signals expansion in economic activity. – Source: Reuters

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