euro heads for first weekly rise in four against greenback
Last Updated : GMT 11:00:20
Arab Today, arab today
Arab Today, arab today

Euro heads for first weekly rise in four against greenback

Arab Today, arab today

Arab Today, arab today Euro heads for first weekly rise in four against greenback

New York - Arabstoday

The euro headed for its first weekly rise in four weeks against the US dollar yesterday, but further gains looked limited as investors believed Greece\'s debt crisis was far from over despite easing fears of an immediate default. The European single currency earlier climbed to a three-week peak above $1.45 (Dh5.32), helped by an increase in risk appetite. It then retreated as traders squared positions ahead of the long holiday weekend in the United States. Stave off bankruptcy The Greek parliament passed two crucial austerity bills last week, opening the way for international lenders to release a €12 billion (Dh63.88 billion) loan instalment that Athens urgently needs to stave off bankruptcy. Article continues below Uncertainty about the longer-term solution remained, and Eurozone finance ministers are scheduled to hold preliminary talks this weekend on the second financing package for Greece for 2011-2014, which could total up to €120 billion. \"We\'ve gone from basically $1.41 to $1.45. I think that\'s a good level as far as the rebound is concerned,\" said Ronald Simpson, director of currency research at Action Economics in Tampa, Florida. \"I\'ve heard talk yesterday and today of investment fund flows out of the euro over $1.45. I think the smart money is looking at levels to sell here now rather than buy.\" In early trading, the euro slipped 0.3 per cent to $1.4460. It had earlier risen as high as $1.4553 on trading platform EBS in a move that pushed through a big options barrier around $1.4550. It was up about 2 per cent last week. The euro hit a three-week high of 1.2301 Swiss francs as investors cut back long positions in the safe-haven Swiss currency. It was last up 0.5 per cent at 1.2246. Corporate demand The dollar climbed 0.9 per cent to 0.8477 franc, moving further away from a lifetime low of 0.8276 set on EBS earlier in the week. Traders cited corporate-related demand from Swiss banks as driving the dollar higher. Some analysts said the market may start to rebuild long euro positions ahead of an expected interest-rate hike by the European Central Bank next Thursday, which would further move interest-rate differential in favour of the euro. Euro resistance seen at $1.4570 On the upside, euro resistance is seen at around $1.4570 (Dh5.35), the 61.8 per cent retracement of the euro\'s fall from its high on May 4 to its low on May 23. Support is seen around $1.4460, traders said, which was followed by levels around $1.4405, where its 55- and 21-day moving averages were located.

arabstoday
arabstoday

GMT 03:16 2017 Saturday ,18 November

Asian markets head for positive end to volatile week

GMT 11:57 2017 Friday ,17 November

US stocks boosted by solid Wal-Mart, Cisco earnings

GMT 06:51 2017 Friday ,17 November

Bahrain Bourse daily trading performance

GMT 03:57 2017 Thursday ,16 November

Stock markets retreat as oil slides

GMT 15:05 2017 Wednesday ,15 November

Bahrain Bourse daily trading performance

GMT 02:47 2017 Wednesday ,15 November

Asian markets down as fears grow for US tax reform

GMT 19:56 2017 Tuesday ,14 November

Bahrain Bourse daily trading performance

GMT 02:48 2017 Saturday ,11 November

European stock markets fall further
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

euro heads for first weekly rise in four against greenback euro heads for first weekly rise in four against greenback

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

euro heads for first weekly rise in four against greenback euro heads for first weekly rise in four against greenback

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday