The safe-haven #yen stood tall on Wednesday, having risen broadly as risk appetite waned in the wake of a plunge in German industrial output and after the IMF cut its global economic growth forecasts for a third time this year. The #dollar traded at 108.335 #yen after sliding to a three-week low of 107.82 #yen , further recoiling from a six-year high of 110.09 set a week ago. The euro dipped to its lowest in a month to 136.50 #yen before edging back to 136.90. The #euro was little changed at $1.2630 after pulling further away from a two-year trough near $1.2500 set on Friday. Its #Australian peer fetched $0.8774, well off Fridays four-year low of $0.8642. #Spot #gold rose further above the key level of $1,200 per ounce, gaining 0.3 percent to $1,211.89 an ounce by 0327 GMT. The metal had fallen to $1,183.46 earlier in the week - it’s lowest since June 2013. #Equities were also hurt as German industrial output fell far more than expected in August, posting its biggest drop since the #financial crisis in early 2009, the latest figures to raise question marks about Europes largest #economy. Read More: https://olofx/posts/dailyfundamentalanalysis/2014/10/08 #forex #fundamental #trading
Posted on: Wed, 08 Oct 2014 07:30:41 +0000
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