Market news
08.12.2010, 12:27

European session review: the dollar is stengthening.

A report tomorrow is forecast to show U.S. initial jobless claims declined. They fell to 425,000 last week from 436,000 the previous week, according to the median estimate of economists in a s survey before tomorrow’s data.

South Korea’s won extended earlier losses after reports of artillery fire from the North spurred demand for the refuge of the dollar. An official at President Lee Myung Bak’s office said none of the shells crossed the border into South Korean waters, and the government is examining the incident.

The won dropped 1.3 percent to 1,146.10 per dollar. The currency also weakened after the Bank of Korea said the nation’s current-account surplus was less than previously reported.

South Korea’s central bank estimated the surplus in the broad measure of trade during the first 10 months of the year was $23.17 billion from $29 billion earlier.

The dollar has gained 3.4 percent over the past month in a measure of the currencies of 10 developed nations. The euro has dropped 2.4 percent, while the yen is down 0.3 percent.

Losses in the euro were limited as Irish Finance Minister Brian Lenihan won the backing of lawmakers in the first votes on his 6 billion-euro ($8 billion) budget.

Irish lawmakers yesterday passed an initial series of votes on the budget in parliament. The government is under pressure to pass the legislation to secure an 85 billion-euro bailout as the fiscal squeeze threatens to prolong a slump that has seen the economy shrink 11 percent over the past three years.

German exports unexpectedly dropped in October as austerity measures across the euro region eroded demand for German goods in the country’s biggest export market, according to data from the Federal Statistics Office today.

EUR/USD the pair has tested support at $1.3200.

GBP/USD the pound is strengthening after reaching day low.
USD/JPY the yen is trading rangebound.

Today at  15-30 GMT EIA Crude Oil Stocks change will be released.

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at

Live Chat E-mail
Choose your language / location