Forex - US dollar firms in Sydney afternoon;holidays keep trading in tight range |
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Published
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Wed, 02 May 2007 05:41
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SYDNEY (XFN-ASIA) - The US dollar was higher against the yen and euro in mid-afternoon but with trade subdued and largely confined to tight ranges given an ongoing holiday in China and with the Japanese markets set to resume the Golden Week break tomorrow, dealers said.At 2:12 pm (0412 GMT) here, the dollar was at 120.06 yen up from 119.84 in morning trade while the euro was at 1.3566 usd, down from 1.3601 earlier.Dealers said tonight's key focus is likely to be the US ADP employment survey for April which provides a rough guide to Friday's non-farm payrolls outcome.Other data due tonight are US factory orders for March, preceded by German employment data and a euro zone manufacturing survey, both for April.GFT senior analyst Ian Copsey said the greater number of data releases tonight should begin to generate more movement within currency markets.But, he added, 'the market does remain dollar bearish and is expected to continue its push lower over the week.'Sydney 2.12 pm (0412 GMT) vs Sydney 10.06 am (0006 GMT)US dollar120.06 yen vs 119.84 yen1.2171 sfr vs 1.2145 sfrEuro1.3566 usd vs 1.3601 usd162.86 yen vs 162.99 yen1.6512 sfr vs 1.6515 sfr0.6802 stg vs 0.6809 stgSterling1.9947 usd vs 1.9977 usd239.42 yen vs 239.38 yen2.4275 sfr vs 2.4263 sfrAustralian dollar0.8227 usd vs 0.8276 usd0.4126 stg vs 0.4141 stg98.760 yen vs 99.130 yenNew Zealand dollar0.7369 usd vs 0.7398 usdpaul.daniel@xfn.com
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Forex - Yen weaker, euro stronger vs US dollar in Sydney afternoon trade 