The yen was up both against the euro and dollar on Tuesday as risk aversion made investors buy the low-yielding currencies and sell riskier assets. Falling U.S. consumer confidence, equities and home prices added to the weakness of the dollar, which was only holding up well against the euro. U.S. home prices showed the biggest yoy drop in at least 20 years in the second quarter, while the Conference Board's consumer confidence fell to the lowest level in the past year. In Europe, Germany's Ifo business confidence index fell to 105.8 in August from July's 106.4, exceeding the consensus forecast for a drop to 105.4. Financial markets turmoil has fueled speculation that the Fed may cut its main rate and the ECB may not raise interest rates at their meetings in September.
Renewed fears of global impacts of U.S. mortgage crisis helped the safe-haven crown, which firmed sharply against the euro yesterday.
FX RATES | |
USD/CZK | 20.300/330 |
USD/GBP | 2.0009/11 |
EUR/CHF | 1.6338/44 |
EUR/CZK | 27.590/620 |
USD/YEN | 114.46/51 |
EUR/GBP | 0.6791/93 |
EUR/USD | 1.3592/95 |
EUR/YEN | 155.73/79 |
STOCK MARKETS | ||
NIKKEI | 16012.83 | -274.66 |
EUROSTOXX 50 | 4170.68 | -70.27 |
FTSE 100 | 6102.2 | -117.9 |
DAX 30 | 7430.24 | -55.75 |
S&P 500 | 1432.36 | -34.43 |
NASDAQ | 2500.64 | -60.61 |
PX 50 | 1773.9 | -13.8 |
GOLD | 663.70/+664.50 | - |
DEPOSIT RATES | ||||
CZK | USD | EUR | YEN | |
ON | 2.50-2.60 | 5.50-5.60 | 4.00-4.10 | --- |
3M | 3.24-3.34 | 5.51-5.59 | 4.66-4.71 | 0.82-0.92 |
6M | 3.43-3.53 | 5.31-5.39 | 4.66-4.71 | 0.93-1.03 |