Ramsey
17-10-2002, Thu 9:51 AM
عن دواوجونز نيوزواير
16-10-2002 07:43 جرينتش
DJ Forex Focus -2: Looking For More Gains On Wall Street OCTOBER,16 2002 07:43
At least some of the dollar's reversal of early losses came in the wake of the latest comments by Bank of Japan Governor Masaru Hayami. Although he said that there isn't any need for the bank to increase liquidity again at this stage, he left the door open for further monetary easing if needed later on.
He also told a regular news conference that he isn't worried about the decline in the yen. This echoed recent comments by officials from the Ministry of Finance and helps to confirm the impression that the authorities remain keen to encourage a weak currency given that Japan remains so dependent on exports.
All the same, the dollar's ability to advance was limited by the fairly lackluster performance of Japanese stocks resulting from concern over Intel. The Nikkei index ended the day only 48 points higher.
Now, market sources said, investors will be looking for another batch of strong third-quarter earnings Wednesday to help lift sentiment and boost expectations of new corporate bond issuance. Among the major companies reporting during the day are J.P. Morgan, Ford, IBM and Apple.
Continued caution in the dollar was also evident in its inability to extend Tuesday's gains, despite growing concerns over political criticism of the European Central Bank.
Tuesday, the ZEW survey showed German business sentiment plummeting much more than the market expected, with the expectations index falling to 23.4 in October from 39.5 in September. Forecasters had expected a fall to 32.1.
Signs that the continued failure of the euro zone to stage a recovery is starting to unnerve politicians came with the news that the new coalition government is Germany is barely masking its pressure on the ECB to lower rates.
The coalition agreement is reported to claim that fiscal consolidation "needs...to be accompanied by a monetary policy that leads to more investment, and thereby to more growth."
16-10-2002 07:43 جرينتش
DJ Forex Focus -2: Looking For More Gains On Wall Street OCTOBER,16 2002 07:43
At least some of the dollar's reversal of early losses came in the wake of the latest comments by Bank of Japan Governor Masaru Hayami. Although he said that there isn't any need for the bank to increase liquidity again at this stage, he left the door open for further monetary easing if needed later on.
He also told a regular news conference that he isn't worried about the decline in the yen. This echoed recent comments by officials from the Ministry of Finance and helps to confirm the impression that the authorities remain keen to encourage a weak currency given that Japan remains so dependent on exports.
All the same, the dollar's ability to advance was limited by the fairly lackluster performance of Japanese stocks resulting from concern over Intel. The Nikkei index ended the day only 48 points higher.
Now, market sources said, investors will be looking for another batch of strong third-quarter earnings Wednesday to help lift sentiment and boost expectations of new corporate bond issuance. Among the major companies reporting during the day are J.P. Morgan, Ford, IBM and Apple.
Continued caution in the dollar was also evident in its inability to extend Tuesday's gains, despite growing concerns over political criticism of the European Central Bank.
Tuesday, the ZEW survey showed German business sentiment plummeting much more than the market expected, with the expectations index falling to 23.4 in October from 39.5 in September. Forecasters had expected a fall to 32.1.
Signs that the continued failure of the euro zone to stage a recovery is starting to unnerve politicians came with the news that the new coalition government is Germany is barely masking its pressure on the ECB to lower rates.
The coalition agreement is reported to claim that fiscal consolidation "needs...to be accompanied by a monetary policy that leads to more investment, and thereby to more growth."