Asia stocks, euro fall on U.S. growth gloom
Sep 4, 2011, 10:22 p.m.
In currency markets, the euro hit its lowest level in three weeks against the dollar while currencies affected by expected demand for commodities, such as the Australian dollar, also came under pressure.
A court ruling in Germany on Wednesday may limit the ability of the euro zone's biggest economy to finance rescues of crisis-hit countries such as Greece.
"Concerns about high debt in Europe has resurfaced, and those poor payrolls results certainly got people worried about the U.S. economy and the global economy as well," said Joseph Capurso, strategist at Commonwealth Bank in Sydney.
The euro eased to $1.4138, reaching lows not seen since August 11. It was later trading around $1.4165, down from $1.4198 late in New York on Friday. This helped drive the dollar index <.DXY> back to one-month highs.
The yen firmed slightly to around 76.76 per dollar.
Japanese government bond September 10-year futures rose 0.46 point to 142.72, while the benchmark 10-year yield fell 4 basis points to 1.020 percent.
Gold held most of its gains, inching down around 0.4 percent to about $1,876 an ounce after jumping more than 3 percent on Friday.
Oil eased on concerns that a "double dip" recession would slow demand, with Brent crude falling 0.8 percent to $111.49 a barrel while U.S. crude eased around 0.9 percent to $85.65 a barrel.
(Additional reporting by Vikram Subhedar in Hong Kong, Ian Chua in Sydney and Lisa Twaronite in Tokyo; Editing by Kim Coghill and Ramya Venugopal)
- When Bud Forrest created the stage show “In the Mood” 21 years ...
- One out of every six health care dollars is spent on treating ...
- In searching for investment options, would you rather have—high return or low ...
- In their early 70s, Koert and Rebecca Smith were looking to make ...
- At age 74, singer-songwriter Paul Williams is in better shape than he ...