China forex chief signals investment shift
insidefutures.com
China will forge ahead with efforts to diversify its $3.3 trillion foreign exchange stockpile into higher yielding assets, Yi Gang, director of China’s State Administration of Foreign Exchange (SAFE), says.
See more here
Dollar soars on Cyprus jitters
investing.com
The U.S. dollar is trading higher against nearly all of its major rivals during Monday’s Asian session as traders fear a request by euro zone finance ministers could spark a run on Cyprus banks.
In Asian trading Monday, EUR/USD plunged 1.28% to 1.2910 as news of a levy on Cyprus bank deposits has sent traders in search of safe-haven assets. On Friday, the European Union and International Monetary Fund reached an agreement on a EUR10 billion bailout for Cyprus. The agreement has provoked public anger because of plans to impose a one-time tax on bank deposits.
See more here
Euro suffers as Cyprus bailout plan worries investors
reuters.com
* Investors jittery after proposal to tax Cypriot deposits
* Euro falls broadly, hits 3-month low vs dollar
* Focus on Cyprus parliament vote, peripheral bond yields
See more here
1 Attachment(s)
Crude Oil, Gold Look to Cyprus Bank Levy Vote for Guidance
dailyfx.com
Crude oil is may follow stocks lower while gold rises if Cyprus votes to approve an EU bailout plan containing a controversial bank deposit levy.
- Crude Oil, Copper Vulnerable if Cyprus Parliament Approves Bank Levy
- Gold and Silver May Find Support as Markets Fret About Credit Instability
Attachment 384
See more here
Euro undermined by concerns Cyprus woes may escalate
reuters.com
- Euro weak near 3-month low vs dollar on Cyprus problems
- Nicosia "unlikely" to endorse bailout deal - govt spokesman
- Soft German ZEW could be fresh blow to euro
See more here
1 Attachment(s)
Cyprus bailout worries push investors into gold
miamiherald.com
Worries about the Cyprus bank bailout drove investors into the safe haven of gold on Monday.
Gold for April delivery rose $12, nearly 1 percent, to $1,604.60 per ounce.
News about Europe's bailout plan for cash-strapped Cyprus unsettled many investors, and all three major U.S. stock indexes lost ground. Traders were surprised that the bailout plan included slapping a tax on deposits in the country's banks - essentially forcing anyone who keeps money in a Cypriot bank to take a "haircut," or a loss.
In other energy trading, natural gas rose 1 cent to $3.88 per 1,000 cubic feet. Wholesale gasoline lost 3 cents to $3.13 a gallon. Heating oil fell 1 cent to $2.93 a gallon.
Attachment 390
See more here
1 Attachment(s)
Euro nudges lower vs dollar ahead of Cyprus levy vote
reuters.com
- Euro weak near 3-month low vs dollar on Cyprus problems
- Investors await vote on Cyprus bailout deal
- Little impact from better-than-expected German ZEW
Attachment 395
See more here
When Will The Next Inflation Surge Come?
etfdailynews.com
Right now, I remain bearish most commodity markets. The reason being, they simply have not fulfilled a short-term cyclical test of support. So, more downside is possible in gold, silver, oil, and an assortment of other commodities.
See more here
1 Attachment(s)
Cyprus Parliament Overwhelming Rejects Bank Tax for Bailout
forexnews.com
Cypriot lawmakers voted overwhelmingly against a tax on bank deposits which was a condition of the European Union’s 10 Billion Euro rescue package designed to keep the banking system from collapsing. The vote was 36 against with 19 lawmakers abstaining for a total of zero votes in favor of the tax. The EUR/USD hit a 3 month low after the news and has remained below the psychologically important 1.2900 level after trading as low as 1.2842.
Bullishness about dollar hits record high. – Investor sentiment on the dollar has risen to record levels, underlining wider market optimism over the US economy that has helped to drive US stocks close to record highs, according to a key survey of global fund managers.
Attachment 403
See more here