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.
I seriously love your website.. Very nice colors & theme.
Did you build this site yourself? Please reply back as I’m wanting to
create my own website and would love to know where you got this from or exactly what the theme is
called. Cheers!
I enjoy what you guys tend to be up too.
Such clever work and exposure! Keep up the superb works guys I’ve incorporated you guys to my own blogroll.
Very shortly this site will be famous amid all blogging and site-building users, due to it’s good posts
When some one searches for his vital thing, thus he/she wishes to be available that in detail, thus that thing is maintained over here.
I have read some just right stuff here. Certainly worth bookmarking for revisiting.
I wonder how a lot effort you set to create the sort of
magnificent informative web site.
Hi there would you mind letting me know which webhost you’re
utilizing? I’ve loaded your blog in 3 completely different internet browsers and I must say this blog loads a lot quicker then most.
Can you recommend a good web hosting provider at
a reasonable price? Many thanks, I appreciate it!
In fact when someone doesn’t understand afterward its up to other
people that they will assist, so here it takes place.
I simply couldn’t leave your site before suggesting that I actually loved the usual information an individual provide
on your visitors? Is gonna be back incessantly to inspect new posts
Hi there! Do you know if they make any plugins to assist with SEO?
I’m trying to get my blog to rank for some targeted
keywords but I’m not seeing very good gains. If you know of any please share.
Many thanks!
An interesting discussion is worth comment. There’s no doubt that that
you should publish more about this subject matter, it may
not be a taboo matter but usually people don’t discuss such issues.
To the next! Best wishes!!