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FX Asia: Taiwan Dollar Sets Sight On New 2006 Low

FX Asia: Taiwan Dollar Sets Sight On New 2006 Low The New Taiwan dollar is increasingly favored in carry trades as low interest rates and heightening political tensions with the Chinese mainland make the currency a cheap funding vehicle for purchases of higher-yielding units such as the Thai baht. Although the Taiwan dollar is recovering from falls earlier in the week thanks to a resurgent Japanese yen, its longer-term outlook remains grim. Technical charts, in particular, are pointing to fresh lows ahead for the currency, already facing pressure ahead of Taiwan's Peace Memorial Day on Feb. 28 when some are expecting

Asia Roundup: Markets ride on Wall Street gains

Asia Roundup: Markets ride on Wall Street gains HONG KONG: Asian stocks managed a solid rebound yesterday following Wall Streets lead as investors resigned themselves to a US rate hike later and hoped for some policy clarity from the US Federal Reserve (Fed), dealers said. They said the gains were encouraging as they suggested investors were calmer about the prospect of higher US interest rates but much would depend on what the Fed had to say on the outlook for monetary policy. TOKYO: Shares rallied 1.58 per cent as bargain hunters scooped up beaten down stocks, encouraged by overnight gains on Wall Street.

Asia surges on profits

Asia surges on profits Asian stocks surged on Thursday as leading technology companies such as Advantest Corp. posted sturdy quarterly profits, while the dollar extended losses on signs that the U.S. economy was cooling down. The yen slumped to a record low against the euro on the view that yen interest rates will stay unattractive to investors when compared with dollar or euro rates for many more months. The dollars overnight decline lifted gold prices by about $6 an ounce to $628, as the dollar-denominated metal became cheaper for Asian and European buyers. More : edition.cnn.com

Asia stocks up modestly, dlr steadies before Fed

Asia stocks up modestly, dlr steadies before Fed Asian stock markets made modest gains on Tuesday as investors waited for the first policy decision of the Federal Reserve under chairman Ben Bernanke and, more importantly, clues on the outlook for U.S interest rates. Gold held above $566 an ounce, even as the dollar recouped some early losses, while oil stayed just above $64 a barrel as threats of attacks on oil facilities in Nigeria put a floor under prices. The Fed is expected to lift U.S. interest rates to 4.75 percent from 4.5 percent later on Tuesday, in what would be the 15th

Gold Trades Above $500 in Asia Amid Demand From Jewelers, Funds

Gold Trades Above $500 in Asia Amid Demand From Jewelers, Funds Dec. 23 (Bloomberg) -- Gold traded above $500 an ounce in Asia, after yesterday having its biggest daily gain in almost three weeks, amid buying from jewelry makers and as hedge funds sought alternatives to stocks and bonds. Gold for immediate delivery has gained 15 percent this year partly as funds and other large speculators boosted their holdings and purchases rose from jewelers, who account for 73 percent of global demand for the precious metal. ``There's a little bit of physical demand coming in now from the jewelers and they've