Euro down on eurozone fears in Asia

The euro weakened in Asia Thursday on concerns over European growth, while the dollar was also under pressure as dealers fret about the US economy as it approaches a so-called fiscal cliff.

The single currency fell to $1.2745 and 101.78 yen in Tokyo trade, from $1.2767 and 102.09 yen in New York late Wednesday, while the dollar eased to 79.84 yen, from 79.96 yen.

Investors were spooked on Wednesday when the European Union cut its economic growth forecast for the eurozone to just 0.1 percent for next year, just six months after tipping a much stronger expansion of 1.0 percent

Adding to the region's woes was data showing almost non-existent growth is hurting economic powerhouse Germany, which is a key driver of the region.

Investors are looking ahead to a policy meeting of the European Central Bank later in the day and a press briefing by its head, Mario Draghi.

"Although the ECB is expected to stand pat on its monetary policy, the euro may come under pressure if Mr Draghi signals a chance of further easing amid the recent worsening of the eurozone economy," said Daisaku Ueno, senior forex and fixed income strategist at Mitsubishi UFJ Morgan Stanley.

"In Asia, a wait-and-see stance will likely dominate before the events," he told Dow Jones Newswires.

The euro received little support from news that Greek lawmakers had passed austerity measures crucial to securing the latest batch of bailout loans from its international creditors.

The greenback was down as dealers bet that the re-election of President Barack Obama would lead to more gridlock in Washington as the "fiscal cliff", the imposition of deep spending cuts and higher taxes that could herald a recession, approaches at the end of the year.

Obama's victory over Republican Mitt Romney also indicated that the Federal Reserve would continue its loose monetary policy that has seen it flood markets with billions of dollars, which weighs on the greenback.

The dollar was mixed against other Asia-Pacific currencies.

It rose to Sg$1.2245 from Sg$1.2211 Wednesday, to 1,088.20 South Korean won from 1,086.15 won, to 30.72 Thai baht from 30.67 baht and to 54.54 Indian rupees from 54.16 pesos.

The greenback slipped to Tw$29.12 from Tw$29.16, to 41.08 Philippine pesos from 41.17 pesos and to 9,627 Indonesian rupiah from 9,635 rupiah.

The Australian dollar fell to $1.0397 from $1.0447 while China's yuan sank to 12.76 yen from 12.82 yen.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • Canada approves $36 bn LNG project, eyes Asia
    Canada approves $36 bn LNG project, eyes Asia AFP News - 7 minutes ago

    Canada approved a massive Can$36 billion ($27 billion USD) project by Malaysia's Petronas to build a liquefied natural gas pipeline along its Pacific Northwest coast, targeting Asian markets. The project is the first deal by Canada's year-old … More »

  • Oil climbs after industry data shows U.S. inventory draw
    Oil climbs after industry data shows U.S. inventory draw Reuters - 8 minutes ago

    Oil prices rose in mixed trading on Wednesday, after sharp losses in the previous session, as industry data showed a surprise draw in U.S. crude stocks, although worries over a lack of agreement among producers to curb output kept a lid on gains. … More »

  • Engineer Smiths Group posts fall in underlying FY revenue Reuters - 12 minutes ago

    (Reuters) - British engineering conglomerate Smiths Group Plc said underlying full-year revenue fell nearly 2 percent on a decline in sales at one of its biggest units. Revenue for the year ended July ... … More »

  • Canada approves $8 bln LNG plant, but Petronas to review project Business Times - 22 minutes ago

    RICHMOND/ KUALA LUMPUR: Malaysia’s Petronas said on Wednesday that it would review a proposed C$11 billion ($8.3 billion) liquefied natural gas plant in western Canada that was approved by Ottawa following a three-year wait. Many analysts are … More »

  • Dollar holds up as traders await Fed rate hike clues AFP - 24 minutes ago

    The dollar held up Wednesday as investors awaited fresh clues about the Federal Reserve's plans for interest rates, after the first US presidential debate lifted the greenback. A report on demand for durable ... … More »

  • Travel firm TUI Group nudges up full-year profit outlook Reuters - 25 minutes ago

    LONDON (Reuters) - TUI Group, Europe's largest tour operator, said it expected 2015/16 core profit to rise by between 12 and 13 percent, upgrading an earlier forecast for growth of at least 10 percent, ... … More »

  • Bursa Msia signs licensing agreement with KL Tin Market Business Times - 35 minutes ago

    KUALA LUMPUR: Bursa Malaysia Derivatives (BMD) today signed a licensing agreement with Kuala Lumpur Tin Market (KLTM) to develop and manage an alternative futures tin trading, the Futures Tin Market (FTIN) contract.At the signing ceremony here … More »

  • After promising start, Rolls-Royce boss East must deliver Reuters - 42 minutes ago

    Rolls-Royce boss Warren East has rebuilt confidence in the British engine-maker, but there are doubts among investors and industry experts about whether his slimmed-down group has the muscle to meet ambitious production and development goals. It … More »

  • Price comparison platform Priceza gets Series B from Germany’s Hubert Burda Media
    Price comparison platform Priceza gets Series B from Germany’s Hubert Burda Media e27 - 43 minutes ago

    Priceza operates in six countries, including Thailand, Indonesia, Malaysia, the Philippines, Singapore and Vietnam, with over 13 million monthly visitors Priceza, a shopping search engine and price comparison platform in Southeast Asia, has secured … More »

  • Trikomsel Says Indonesian Court to Review Debt Workout Plan Bloomberg - 1 hour 4 minutes ago

    A Jakarta commercial court had decided on Sept. 26 to postpone a deliberation meeting, the firm said in a filing to the Singapore stock exchange. Applications by trustees for note holders to vote in the meeting were rejected because there was no … More »

  • China's PSBC makes tepid debut on Hong Kong bourse
    China's PSBC makes tepid debut on Hong Kong bourse AFP News - 1 hour 6 minutes ago

    Postal Savings Bank of China (PSBC) made a low-key debut on the Hong Kong bourse Wednesday, despite notching up the world's biggest IPO in two years aimed at expanding the business. China's fifth-biggest lender raked in a colossal $7.4 billion in … More »

  • How a Part-Time Actor Got the Lead Role at $2.7 Billion Fund (2) Bloomberg - 1 hour 7 minutes ago

    Sawakami saw a spark and later offered him a job. “He’s a rascal,” Sawakami said in an interview, using an affectionate Japanese term that parents reserve for headstrong children. Kusakari is a rare example of a person in Japan who diverged from a … More »

  • BCM Alliance aims to raise RM16.01m from IPO Business Times - 1 hour 16 minutes ago

    KUALA LUMPUR: Commercial laundry equipment and medical devices equipment distributor BCM Alliance Bhd, which is en route to list on the ACE Market of Bursa Malaysia Securities Bhd, expects to raise RM16.01 million from its initial public offering … More »

  • Japan steel industry sees China merger promoting structural reform Reuters - 1 hour 19 minutes ago

    China's Baosteel Group's acquisition of Wuhan Steel will create stronger leadership in the country's steel industry and promote structural reform, the chairman of the Japan Iron and Steel Federation said on Wednesday. "We welcome the move as the … More »

  • Asia stocks edge down on Europe bank woes, lower oil
    Asia stocks edge down on Europe bank woes, lower oil Reuters - 1 hour 26 minutes ago

    Asian stocks were lower on Wednesday, with European banking sector concerns and lower crude oil prices dulling investors' appetite for riskier assets. Equities in Asia had gained on Tuesday from a perceived win by Democrat Hillary Clinton at the … More »

  • Malaysia's ranking drops to 25: WEF Business Times - 1 hour 33 minutes ago

    BERLIN: Malaysia was ranked 25th among the 138 economies in the latest annual World Economic Forum's Global Competitiveness Report. The drop by seven places from 18th in 2015 was due to a decline in scores in eight of the indicators in the 12 … More »

  • Asian Stocks Fall as Tokyo Shares Decline, Oil Drops Below $45 Bloomberg - 1 hour 46 minutes ago

    The Topix index dropped 1.7 percent, the most in two-and-a-half weeks, as more than half the companies on the benchmark traded without the right to the next dividend, a biannual event in Japan that typically sends the market lower to reflect the … More »

  • Toshiba More Than Doubles Profit Outlook as Yen Drives Sales (2) Bloomberg - 1 hour 47 minutes ago

    Toshiba, which makes everything from computers to nuclear power equipment, in August reported its first operating profit in six quarters. “Apple’s recent upgrades to its smartphone embedded memory have also helped Toshiba’s cause,” Amir Anvarzadeh, … More »

  • Gold hits one-week low as dollar firms
    Gold hits one-week low as dollar firms Reuters - 1 hour 49 minutes ago

    Gold inched lower on Wednesday to touch a one-week low, after suffering its biggest single-day loss in nearly a month in the previous session, on a firmer dollar. The safe haven asset slid nearly 1 percent on Tuesday, its biggest single session … More »

  • SE Asia Stocks-Vietnam hits 8-1/2-year high; Philippines up Reuters - 1 hour 53 minutes ago

    By Suhail Hassan Bhat Sept 28 (Reuters) - Vietnam shares hit an eight-and-a-half-year high on Wednesday, led by commercial banks, while Philippine stocks rose after three sessions of falls with financials ... … More »

  • Two Goldman Sachs Asia Partners Said in Discussions to Leave (1) Bloomberg - 2 hours 2 minutes ago

    Asia Pacific Investment Banking Solutions head Anthony Miller is planning to depart the bank after 15 years with the firm, and Michael Smith, head of Southeast Asia and another Goldman partner, is also in talks about leaving, the people said, asking … More »

  • Toshiba revises up first half forecast on solid memory chip sales
    Toshiba revises up first half forecast on solid memory chip sales Reuters - 2 hours 17 minutes ago

    Japan's Toshiba Corp said on Wednesday it expects to post a bigger first-half profit than previously forecast as memory chip prices have climbed on rising demand for smartphones. A Toshiba spokesman said that the upward revision mainly reflects … More »

  • Oil stages weak rebound as hopes ease for output deal AFP - 2 hours 30 minutes ago

    Oil prices posted marginal gains in Asia Wednesday as an industry report showing a decline in US stockpiles was offset by worries about the chances of this week's key producers meeting ending with a deal ... … More »

  • Abe Clashes With New Opposition Leader Over BOJ Inflation Policy Bloomberg - 2 hours 32 minutes ago

    Renho, the leader of the main opposition Democratic Party, described the new framework from the central bank on Sept. 21 as an admission that the limits of monetary policy were being reached. Abe said he would continue to work closely with the … More »

  • The World's Most Innovative Universities - 2016
    The World's Most Innovative Universities - 2016 Reuters - 2 hours 38 minutes ago

    No university does that better than Stanford University, which once again tops the Reuters 100. Decade after decade, Stanford’s students and faculty consistently innovate. Companies founded by Stanford alumni – including Hewlett Packard and Google … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.145+0.004+2.84%
    N21.SI
    0.143+0.001+0.70%
    5DM.SI
    3.97-0.02-0.50%
    Z74.SI
    0.215+0.026+13.76%
    I07.SI
    0.325+0.010+3.17%
    5OT.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.24+0.05+26.32%
    AWI.SI
    0.15+0.02+15.38%
    RF7.SI
    0.225+0.015+7.14%
    BQN.SI
    0.215+0.026+13.76%
    I07.SI
    0.13+0.01+8.33%
    5UE.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.112-0.028-20.00%
    BEH.SI
    0.225-0.035-13.46%
    40D.SI
    1.02-0.07-6.42%
    P01.SI
    0.38-0.02-5.00%
    AWE.SI
    0.325-0.015-4.41%
    P9D.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3610+0.0015+0.11%
    USDSGD=X
    1.5242-0.0007-0.05%
    EURSGD=X
    1.7710+0.0008+0.05%
    GBPSGD=X
    73.8780+0.022+0.03%
    SGDJPY=X
    5.6956-0.0067-0.12%
    SGDHKD=X
    3.0395+0.0005+0.02%
    SGDMYR=X
    9,506.9688-21.4844-0.23%
    SGDIDR=X
    4.9016-0.0039-0.08%
    SGDCNY=X
    1.0448+0.0026+0.25%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,328.10-2.30-0.17%
    GCZ16.CMX
    19.11-0.06-0.29%
    SIZ16.CMX
    92.98-1.47-1.55%
    ^XAU
    2.170.00+0.12%
    HGZ16.CMX
    43.85+0.41+0.94%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.11-0.02
    ^FVX
    1.56-0.03
    ^TNX
    2.28-0.05
    ^TYX