Wednesday in Asia, the yen rose to near a 2-week high against the U.S. dollar and it recouped early losses against other major currencies on risk aversion amid growing concerns about the political turmoil in Libya and surging crude oil prices.
Latest reports say that embattled Libyan leader Moammar Gadhafi rejected calls for his resignation in a defiant speech on state television. Gadhafi, who has been in power in Libya for over 40 years, has seen his stranglehold over the North African nation wane in the wake of massive protests that have overwhelmed the country over the last couple of days.
Most Asian stocks declined. Japan’s Nikkei 225 index is currently down by 87.94 points or 0.8% at 10,576.11.
In economic news, Japan posted a merchandise trade deficit of 471.4 billion yen in January, the Ministry of Finance said today. That came as a shock to analysts, who had been expecting a surplus of 49.3 billion yen following the downwardly revised surplus of 725.9 billion yen in December.
Meanwhile, an index measuring corporate service prices in Japan was down 1.1 percent on year in January, the Bank of Japan said, standing at 96.1. That was slightly better than forecasts for a 1.3 percent annual contraction. Prices were down 0.3 percent on month following a 0.2 percent decline in December.
The yen is currently trading near a 2-week high of 82.55 against the US dollar with 82.0 seen as the next upside target level. At yesterday’s close, the dollar-yen pair was quoted at 82.82.
The yen is now worth 113.10 against the euro, 88.10 against the franc and 133.57 against the pound, compared to early Asian session lows of 113.61, 88.44 and 134.16, respectively. The yen closed yesterday’s trading at 113.07 against the euro, 133.67 against the pound and 88.25 against the franc.
The yen slipped to 83.16 against the Aussie before bouncing back in early Wednesday Asian deals at 8:00 pm ET. As of now, the yen is trading near yesterday’s close of 82.75.
The yen that fell to 83.86 against the Canadian dollar at 8 pm ET rebounded thereafter. Currently, the loonie-yen pair is worth 83.50, compared to yesterday’s close of 83.60.
At present, the yen is worth 61.75 against the NZ dollar, compared to an early Asian session low of 62.27. The kiwi-yen pair closed yesterday’s trading at 61.85.
Looking ahead, France CPI and Swiss producer and import price index – both for January, Bank of England’s minutes for February meeting and the Eurozone industrial new orders for December are expected in the upcoming European session.
The U.S. existing home sales for January is due in the New York morning.
Hi I am so happy I found your web site, I really found you by mistake, while I was
browsing on Google for something else, Regardless
I am here now and would just like to say kudos for a fantastic post and a all round enjoyable blog (I also love the theme/design), I
don’t have time to browse it all at the moment but I have book-marked it and also
added in your RSS feeds, so when I have time I will
be back to read much more, Please do keep up the awesome work.
Hey there! I could have sworn I’ve been to this website before but after
browsing through some of the post I realized it’s new to me.
Anyways, I’m definitely glad I found it and I’ll be
book-marking and checking back often!
Hello there, just became aware of your blog through Google,
and found that it is truly informative. I am gonna watch out for brussels.
I’ll be grateful if you continue this in future.
A lot of people will be benefited from your writing. Cheers!
Hi! I could have sworn I’ve been to this site before but after browsing through some of the post I
realized it’s new to me. Nonetheless, I’m definitely glad I found it and I’ll be bookmarking and checking back often!
Very energetic post, I liked that a lot.
Will there be a part 2?
First off I want to say awesome blog! I had a quick question which I’d like to ask if you do not mind. I was curious to know how you center yourself and clear your head prior to writing. I have had a tough time clearing my mind in getting my thoughts out. I do take pleasure in writing however it just seems like the first 10 to 15 minutes tend to be lost just trying to figure out how to begin. Any recommendations or hints? Thanks!
Highly descriptive blog, I enjoyed that a lot.
Will there be a part 2?
These are in fact great ideas in regarding blogging. You have touched some pleasant factors here. Any way keep up wrinting.
I have been exploring for a little bit for any high-quality articles or blog posts on this kind of house .
Exploring in Yahoo I finally stumbled upon this website.
Reading this info So i am glad to convey that I’ve a
very just right uncanny feeling I came upon exactly what
I needed. I so much surely will make sure to do not put out of your mind this
website and give it a glance on a continuing basis.
I have been exploring for a little bit for any high-quality articles or
weblog posts in this sort of area . Exploring in Yahoo I eventually stumbled upon this site.
Studying this info So i’m happy to exhibit that I’ve a very just right uncanny feeling I discovered exactly what I needed.
I most without a doubt will make certain to do not forget this
web site and provides it a look regularly.