Currency Alerts
11/10/2009 1:02 AM ET
(RTTNews) -
The US dollar advanced against its major European counterparts during Tuesday's early trading. On the other hand, the dollar fell against the yen during this time period.
The dollar staged a sharp spike up against its UK counterpart by about 12:05 am ET. The dollar is now trading at a 4-day high of 1.6617 versus the pound, with 1.640 seen as the next upside target level. At yesterday's New York session close, the pair was quoted at 1.6762.
Against the euro and the franc, the US currency hit highs of 1.4952 and 1.0112, with 1.47 and 1.028 seen as the next upside target levels, respectively. The dollar closed Monday's New York session at 1.50 against the 16-nation currency and 1.0080 against the franc.
German October final CPI, French September industrial production, UK September trade balance and Eurozone November ZEW survey are expected.
By about 12:40 am ET Tuesday, the dollar-yen pair hit a 4-day low of 89.70, compared to 89.94 hit late Monday in New York. On the downside, 89.2 is seen as the next support level for the buck.
The Ministry of Finance said that Japan posted a current account surplus of 1.568 trillion yen in September, climbing 0.2 percent on year. That beat analyst expectations for a surplus of 1.51 trillion yen following the 1.171 trillion yen surplus in August.
Exports were down 32.1 percent on year to 4.8 trillion yen, while imports shed an annual 37.7 percent to 4.2 trillion yen for a BOP trade surplus of 599.2 billion yen.
From U.S., Atlanta Federal Reserve Bank President Dennis Lockhart is due to speak on the economy to the Urban Land Institute conference in Atlanta at 9:15 am ET. San Francisco Federal Reserve Bank Janet Yellen is scheduled to speak on the economic outlook and real estate to Lambda Alpha International in Phoenix at 10 am ET. Dallas Federal Reserve Bank President Richard Fisher will speak on the economic outlook to the Austin Headliners Club in Austin at 7:30 PM ET.
by RTT Staff Writer
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