Euro Set for Biggest Weekly Drop in 7 Months on Debt Woes


06/04/2012 07:13 AST  Bloomberg

The euro headed for the biggest weekly drop against the yen in seven months as Spain’s rising borrowing costs fueled concern that the region is failing to contain its debt crisis.

The 17-nation currency traded 0.3 percent from a three-week low versus the dollar before data next week that may show German exports fell and growth in French industrial production slowed, adding to evidence that the fiscal woes are hampering the region’s economies. Demand for the greenback was supported as data indicating a recovery in the U.S. labor market damped speculation the Federal Reserve will add new stimulus. The yen gained against its peers as Asian stocks fell for a third day.

For more on this Click Here

Forex News
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | News Archive

JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC
Most Viewed Companies
Ticker Price Volume
SABIC 83.5 3,267,171
EEC 43.49 18,255,002
EMAAR 6.78 61,972,493
RIBL 17.23 9,299,116
STC 67.25 1,154,613
SECO 15.81 6,324,924
RJHI 55.98 10,614,483
Recent News

More companies see stronger dollar boosting profits
More top global financial executives expect a stronger dollar to help their bottom line than see harmful effects from the currency's rise, a private survey released on Tuesday showed. Twenty-four per

Gold price recovers on fresh demand; silver remains weak
Gold prices recovered by Rs 85 to Rs 27,310 per ten grams at the bullion market in the national capital on emergence of buying by jewellers and retailers at prevailing levels even as the precious met

Gold Drops on Week; 2014 Silver Eagle Record Tops 43.5M
Gold closed slightly higher Friday, adding to smaller gains from the previous two sessions. As such, losses earlier in the week were barely dented and the yellow metal logged a 2.2% weekly decline, s

NOGA delegation holds meetings in China
A delegation representing the oil, gas and petrochemicals sectors in the kingdom visited China last week, and held meetings with senior officials in China National Energy Administration (NEA), and th

India's forex grows by $2.17b
According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, gained $2.40 billion at $292.36 billion in the week under review.

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Which of the following do you think is the best long-term investment?