The safe-haven #yen held onto solid gains early on Thursday after disappointing manufacturing surveys from around the globe triggered a run on risk, while the #euro stayed defensive as a policy review by the European Central Bank loomed. The# euro slid to a three-week low of 137.39 #yen, the #dollar retreated to 109.08 from a six-year peak of 110.09, while the #Australian #dollar briefly dipped below 95.00 for the first time in seven weeks. Investors warmed to the Japanese #currency after a slew of surveys showed German factory activity shrank for the first time in 15 months, Chinas manufacturing sector barely grew, while the United States slowed more than expected. The reports cast a pall on investor confidence, knocking global #stocks lower and boosting demand for safe-havens such as the #yen and government #bonds. U.S. #Treasury yields fell sharply as a result with the 10-year yield sliding below 2.40 percent to its lowest in nearly a month. That in turn undermined the allure of the #greenback against a host of #currencies, apart from the #euro. Read More: https://olofx/posts/dailyfundamentalanalysis/2014/10/02
Posted on: Thu, 02 Oct 2014 06:58:19 +0000
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