USD Hits 4.5 Year High Against Yen, US Crude Back Below $50
July 21, 2015 6:14 am
Asian and US shares edged slightly higher in the previous session due to investors confidence being boosted by some better than expected corporate earnings, pushing Wall Street to new highs. However, gains were curbed by the recent drop in commodities, particularly gold and crude. The Dow rose 13 points to close at 18,100, while the S&P500 gained 1 point to close at 2,128.
The Euro, after dropping to its lowest level since mid April, ticked up slightly on the day against the Greenback to $1.0826. The Dollar, which saw a 4.5 year peak hit on Monday against the Yen, was trading around the 124.36 level. The NZD was trading half a percent higher at $0.6594, bouncing off its six year lows which were touched last week. Although the RBZ is still expected to cut rates when it meets tomorrow, comments that the NZD’s 25% slide in the past year was faster than expected kept traders cautious.
After Gold’s mini flash crash in the previous session where it dropped 4%, the yellow metal rose by 0.6%, erasing some of its losses to trade around the $1103.238 level. U.S. August crude, set to expire later on Tuesday, dropped off 0.4% at $49.96 a barrel, back under the $50 threshold after it fell below it for the first time since April on Monday. Brent slipped 0.3% to $56.51.
Asian and US shares edged slightly higher in the previous session due to investors confidence being boosted by some better than expected corporate earnings, pushing Wall Street to new highs. However, gains were curbed by the recent drop in commodities, particularly gold and crude. The Dow rose 13 points to close at 18,100, while the S&P500 gained 1 point to close at 2,128.
The Euro, after dropping to its lowest level since mid April, ticked up slightly on the day against the Greenback to $1.0826. The Dollar, which saw a 4.5 year peak hit on Monday against the Yen, was trading around the 124.36 level. The NZD was trading half a percent higher at $0.6594, bouncing off its six year lows which were touched last week. Although the RBZ is still expected to cut rates when it meets tomorrow, comments that the NZD’s 25% slide in the past year was faster than expected kept traders cautious.
After Gold’s mini flash crash in the previous session where it dropped 4%, the yellow metal rose by 0.6%, erasing some of its losses to trade around the $1103.238 level. U.S. August crude, set to expire later on Tuesday, dropped off 0.4% at $49.96 a barrel, back under the $50 threshold after it fell below it for the first time since April on Monday. Brent slipped 0.3% to $56.51.
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