|
Euro Hits Record Against Dollar |
|
Written by Administrator
|
|
Nov 25, 2004 at 11:51 PM |
The euro hit new highs against the dollar on Wednesday, squeezing exporter margins and capping share gains in Europe but propping up euro zone government debt after a disappointing Bund auction.
Volatile data showing U.S. durable goods orders slipping by 0.4 percent in October against an expected 0.5 percent rise had little effect on markets, although they made discouraging reading for investors hoping for more U.S.-led economic growth in 2005.
The impact was tempered by an upwardly revised 0.9 percent gain in September and by weekly U.S. jobless claims data, which showed a drop of 9,000 to 323,000.
"Even though durables was down, on a three-month rolling average it still has a pretty decent pace... As for claims, if this is a real number, it tells us the employment situation is getting stronger," Bob MacIntosh, chief economist, Eaton Vance Management Inc. in Boston.
U.S. stock index futures indicated slight opening gains on Wall Street as benchmark crude oil prices pulled back further below $49 a barrel before weekly inventories data at 1530 GMT.
The FTSE Eurofirst 300 index of leading European shares was broadly flat at just over 1,024 points.
Euro zone government bond futures were broadly flat, as expectations for weaker German inflation and the strong euro helped offset the disappointment of a poorly received 8-billion-euro
German bond auction.
Benchmark 10-year bonds yielded around 3.79 percent.
The yen and other Asian currencies hovered near recent lows, despite talk of possible central bank intervention to stem the dollar's slide.
"With markets thin over Thanksgiving you can't rule (intervention) out," Elizabeth Miller, an analyst at Redtower Research said, referring to Thursday's U.S. holiday.
The euro bought $1.3155, having earlier strengthened to as high $1.3167, and the dollar changed hands for around 102.80 yen.
|
|
Last Updated ( Nov 26, 2004 at 12:46 AM )
|
|
Read more...
|
|
|
Written by Administrator
|
|
Nov 25, 2004 at 05:47 PM |
Two trucks loaded of humanitarian aid in order to be delivered to people living in the southern Iraq city of Fallujah, departs Ankara following a sending off ceremony.
A third convoy of humanitarian aid donated by the Turkish Red Crescent Society (Kızılay) set out yesterday for the Turkey-Iraq border, the Anatolia news agency said.
Two trucks loaded with humanitarian aid to be delivered to people living in the southern Iraqi city of Fallujah departed Ankara following a sending-off ceremony.
|
|
Last Updated ( Nov 26, 2004 at 12:50 AM )
|
|
Read more...
|
|
|
EU, Turkish Leaders Meet Ahead of Crucial December Decision |
|
Written by Administrator
|
|
Nov 25, 2004 at 02:14 PM |
Turkish Foreign Minister Abdullah Gul will meet with EU leaders in the last high-level talks between the two sides in the run-up to December 17 when Turkey faces the moment of truth on its bid to join the European Union.
Gul was to discuss his country`s prospects of starting accession talks with the so-called EU "troika," comprised of the current Dutch presidency, the next one, Luxembourg, and the European Commission.
The EU side was to be represented by the foreign ministers of the Netherlands and Luxembourg, Bernard Bot and Jean Asselborn, Dutch European Affairs Minister Atzo Nicolai, the EU`s foreign policy chief Javier Solana and new enlargement commissioner Olli Rehn.
The gathering, held twice each year, has a special importance this time as it comes just days before EU leaders meet in Brussels on December 17 to make a decision on the explosive issue of whether to open membership negotiations with Turkey, a candidate since 1999.
A Europe-wide debate on whether the vast and relatively poor Muslim nation should be given the green light has been raging since October when the European Commission, the EU executive arm, said that Ankara had fulfilled the required political criteria and was ready to start accession talks.
|
|
Last Updated ( Nov 26, 2004 at 12:51 AM )
|
|
Read more...
|
|
|