Forex: USD/CAD fluctuating daily gains

FITITOL–>

FXstreet.com (Barcelona) – After climbing around a 200-day MA, during 0.9984, a USD/CAD didn’t conflict to offered vigour and incited to red on a daily draft during a Asian session. Held during 0.9954 low, a span has been rising behind adult consistently, during a same time as wanton oil loses momentum.

Asian expansion (also with improving China’s production PMI) and augmenting tensions with Iran are spurring a arise of wanton oil prices, carrying traded above 106.00 today, during nine-month highs.

Reports contend that Iran didn’t accept IAE ask to revisit a suspected nuclear-related troops base. “Oil prices increasing to a nine-month high on Iran supply worries progressing in a session, though afterwards declined half a percent on concerns that high commodity prices will quell tellurian demand”, wrote Danske Bank comparison economist Frank Øland Hansen.

Mataf.net analysts indicate to resistances during 0.9985, 1.0040 and 1.0065. On a downside, supports competence act during 0.9945, 0.9910 and 0.9900.

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FOREX-Euro gains on talk of ECB/IMF aid, before U.S. data

* Euro rises vs dollar, buoyed before U.S. jobs data

* Currencies in tight range, traders wary of big bets before data

* EU summit next week awaited for signs of progress on debt crisis

LONDON, Dec 2 (Reuters) - The euro rose against the dollar on Friday on expectations that U.S. jobs data would show the economy slowly recovering and on talk of the possibility the European Central Bank may lend to weak euro zone countries via the IMF (Berlin: MXG1.BE - news) .

The talk sparked hopes of some kind of solution to the euro debt crisis, pushing the euro up 0.5 percent to $1.3538, its strongest in more than a week, with traders saying it extended gains after stop loss orders were triggered about $1.3530.

A positive surprise in U.S. jobs numbers at 1330 GMT would underpin a recent string of solid U.S. data and would be likely to boost risk sentiment and lift the euro further versus the safe-haven dollar. A weaker-than-expected outcome may push investors to take more profits on recent euro gains, however.

The non-farm payrolls report is forecast to show a rise of 122,000 jobs and a steady unemployment rate of 9.0 percent.

Investors were wary of buying the single currency aggressively, however, given that it has already rallied more than 1 percent this week even as it remains vulnerable to the region's debt problems.

Johan Javeus, chief strategist at SEB (Frankfurt: 862948 - news) in Stockholm, said he expected the data would confirm the U.S. economy is faring better than it was in the first half of the year, although it would not show a very strong recovery trajectory.

"It should confirm what we've seen in other data, that things are not as bad as people thought a few months ago. In that sense I don't expect a really big reaction from this number should it come in line with expectations or slightly better," he said.

"In the end, focus is on what could happen with the political process in Europe (Chicago Options: ^REURUSD - news) and that will take precedent."

But with investors sidelined before the jobs report, market participants showed little reaction to a speech by German Chancellor Angela Merkel, who told parliament the euro zone debt crisis could not be solved in one fell swoop and urged tighter fiscal integration.

French and German leaders are meeting next Monday to outline joint proposals to put to a Dec. 9 EU summit, seen as yet another make-or-break meeting for the 12-year-old currency bloc.

Nervousness ahead of this summit was expected to limit any euro gains from strong U.S. jobs data.

"It will just be one more piece of good data coming on the back of a few positive things this week and there may be some reaction but I wouldn't expect it to be massive," said Nomura strategist Lefteris Farmakis.

Other currencies perceived to be higher risk, including the Australian and New Zealand dollars, also rose against a softer dollar, which slipped 0.4 percent versus a currency basket to 78.026.

A 1.5 percent rise in European share prices suggested an ongoing improvement in risk appetite this week, which has prompted investors to sell the safe-haven U.S. currency.

Against the yen, the dollar edged up 0.2 percent to 77.86 yen.

EU SUMMIT AWAITED

The euro has held gains after rallying earlier in the week, when major central banks around the world took coordinated measures to increase dollar liquidity to prevent a liquidity crunch in markets.

Analysts said this had provided a stop-gap measure to stabilise markets for now, while adding that investors had big expectations for the EU summit next week.

Morgan Stanley (EUREX: DWDF.EX - news) said it had used the euro's gains this week to establish a renewed bearish position on the single currency as it stuck to its view of more weakness in the currency in the mid-term.

"We continue to look for the market to be disappointed by the European Summit," its analysts said in a note, adding that they expected the euro to also underperform commodity currencies, particularly the Canadian and Australian dollars.

The European Central Bank hinted on Thursday it was ready to move more aggressively to tackle the crisis if politicians agree on much tighter budget controls in the euro zone, though it stopped short of detailing what exact measures it would take.

Still, there is no agreement among EU policymakers regarding how such controls could be implemented and many other problems, including securing resources to leverage the euro zone's bailout fund, linger unresolved. Analysts believe this will keep the euro on the back foot. (Additional reporting by Naomi Tajitsu; editing by Ron Askew)

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FOREX-Euro gains 4th day vs dollar, but trend seen tenuous

19:49, Thursday 1 December 2011

* Euro lifted by good demand at Spain's auction

* France's Sarkozy outlines euro crisis stance

* ECB's Draghi says downside risks have increased

* Strong U.S. ISM number adds to U.S. recovery hopes (Updates prices, adds quotes, links and graphics, changes byline)

NEW YORK (Frankfurt: A0DKRK - news) , Dec 1 (Reuters) - The euro gained against the dollar for a fourth straight session on Thursday, a trend seen as tenuous given unresolved fiscal and economic issues in the region and despite initiatives from global central banks.

While the single-currency was buoyed by generally successful Spanish and French debt auctions, traders were inclined to view gains as good selling opportunities.

While Spain sold 3.75 billion euros of three bonds at the top of the targeted range, they were at levels seen as unsustainable for public finances. France also found demand for its sale of 4.35 billion euros of debt in several maturities. [ID:nL5E7N11J2]

The euro reached a high of $1.3521 , according to Reuters data but gains dissipated in early afternoon New York trading as stocks turned mostly negative after Wednesday's record rally.

Investors were said to be consolidating their positions ahead of Friday's all-important U.S. non-farm payrolls report for November (Stuttgart: A0Z24E - news) .

"We have had some big moves in the euro the last couple of days and a lot of event risks, so the market is taking a little bit of a breather and consolidating their gains before tomorrow's big U.S. employment number," said Steven Butler, director of foreign-exchange trading at Scotia Capital in Toronto.

Investors are looking at 122,000 new jobs added to the U.S. economy last month and a steady unemployment rate of 9.0 percent. A higher-than-expected number could whet risk appetite once again and lift risk-friendly currencies such as the euro.

French President Nicolas Sarkozy said the European Central Bank is independent and will remain so. [ID:nL5E7N13N6] [ID:nP6E7LO02B]

The euro was last up 0.3 percent at $1.3472. A break above $1.3533 could see the euro rise toward its Nov. 18 high of $1.3615, analysts said. If it fails to retest Wednesday's high, however, the rally may peter out.

On Wednesday, the euro had hit a one-week high of $1.35337 on trading platform EBS after central banks of the United States and the euro zone, as well as Canada, Britain, Japan (EUREX: FMJP.EX - news) and Switzerland cut the cost of dollar loans to the banking system. [ID:nL5E7MU118]

Although investors cheered Wednesday's joint central bank action, they are worried that the debt crisis remains unresolved, with little time for politicians to find a solution.

European Central Bank President Mario Draghi signaled it stood ready to act more aggressively to fight Europe (Chicago Options: ^REURUSD - news) 's debt crisis if political leaders agree next week on much tighter budget controls in the 17-nation euro zone. He also painted a dark picture of the state of the banking system. [ID:nL5E7N11XQ]

Draghi, however, did not spell out what action the ECB might take.

The ECB is under huge political and market pressure to massively step up purchases of euro zone government bonds or lend money to the IMF (Berlin: MXG1.BE - news) to support ailing Italy and Spain.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Other stories on euro zone crisis [ID:nL5E7LR1WL]

Analysis on drive to boost IMF resources [ID:nN1E7AT27A]

BREAKINGVIEWS-Euro-IMF scheme questions [ID:nL4E7N11SW] Euro zone in graphics http://r.reuters.com/hyb65p

Market disconnect graphic http://r.reuters.com/van64s

Interactive timeline http://link.reuters.com/rev89r ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

An increase in the Institute for Supply Management's U.S. manufacturing index fueled the market's appetite for risk and reinforced the view that the world's largest economy is on a stable path to recovery. [ID:nN1E7B008U]

The dollar index was last down 0.1 percent at 78.292, though off the 77.923 low hit on Wednesday. Against the yen, the dollar was up 0.2 percent at 77.64 . (Additional reporting by Gertrude Chavez-Dreyfuss; Editing by Kenneth Barry)

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FOREX-Euro edges aloft vs dollar, though gains might fade

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FOREX-Dollar gains for 4th day as euro zone woes persist

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* Stocks, commodity currencies fall in risk-averse market

* ECB buying push bond yields lower, initially lifts euro

* Euro zone official says no aid for Italy under EFSF

(updates prices, adds comment)

NEW YORK (Frankfurt: A0DKRK - news) , Nov 17 (Reuters) - The dollar advanced for a fourth straight session on Thursday in a risk-averse market that saw stocks and commodities sell off on concerns the banking and fiscal problems of the euro zone's peripheral countries could spread to healthier economies in the region.

Commodity (Euronext: COMIN.NX - news) currencies such as the Australian, Canadian, and New Zealand dollars, including emerging market units, posted sharp losses against the safe-haven U.S. dollar as well, as investors grew frustrated the two-year old debt crisis remained unresolved.

"I think this euro zone crisis could worsen before it gets better," said James Keegan, chief executive and chief investment officer at Seix Investment Advisors in Upper Saddle River, New Jersey.

Keegan, who oversees about $26 billion in assets, added that the threat of contagion is real, and it is "questionable whether the euro zone as an entity would survive."

Bond yields in some debt-ridden euro zone countries such as Italy dropped from extreme levels, which suggested easing investor anxiety. That initially underpinned the euro, but the support faded on more negative developments in Italy.

One was on a comment from a euro zone official saying there are no plans for any financial assistance program for Italy under the euro zone bailout fund. [ID:nP6E7L300I].

By late afternoon, the dollar index, a gauge of its value against six currencies, rose 0.4 percent to 78.301 .

"For now, the dollar will only rally when there's a crisis," said Kit Juckes, head of foreign exchange at Societe Generale in London. "(And) the world is in crisis as the euro zone's leaders fight for the single currency's survival."

He arbitrarily placed the dollar's peak in March 2012 as he cannot see how the crisis will be resolved before Christmas. "But crises, by definition, don't last forever. Dollar strength will be temporary, though it may also be very violent."

The euro was little changed versus the dollar at $1.34610, having risen as high as $1.35403 on trading platform EBS. It had earlier fallen to a five-week low of $1.34210. Below there, key downside target lies near the Oct (KOSDAQ: 039200.KQ - news) . low of $1.3140.

Traders cited bids in the $1.3440 area.

Italian bond yields on Thursday fell back below the critical 7 percent mark, a level widely deemed unsustainable, as Prime Minister Mario Monti unveiled sweeping reforms to dig the country out of crisis. The spread between French 10-year bond yields and German bunds also eased from record highs.

That helped the euro bounce back above $1.35 after three straight days of decline.

The outlook for the common currency remains bleak, however, and it would likely resume weakness next week should it fail to go beyond $1.36, analysts said.

U.S. data showing initial jobless benefit claims at a seven-month low last week and a strong rebound in future home construction earlier boosted appetite for risk and lifted the euro. [ID:nN1E7AG0BT].

ECB BUYING

European Central Bank buying of Italian and Spanish debt before and after the debt sales helped ease some pressure on yields but looked modest in size, traders said.

Pressure has grown on the ECB to take a greater role in tackling the crisis, with Paris saying it should intervene more forcefully, but Germany and the ECB itself oppose that view.

Seix's Keegan said the ECB is unlikely to succumb to pressure for more aggressive intervention in the fixed income market, much like what the Federal Reserve did in the U.S. bond market under its quantitative easing program.

"That bar for the ECB to come in is so much higher," Keegan said, adding that the bank would need to see a Lehman Brothers (Berlin: GYW.BE - news) -type collapse before it actually steps in.

Against the yen, the euro was down at 103.598 , rebounding from a five-week low of 103.40 set earlier on EBS. The dollar slipped 0.1 percent to 76.979 yen . (Additional reporting by Wanfeng Zhou; Editing by Padraic Cassidy)

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