Broadgate: Market News 16/3
16 March 2012
The yen headed for a weekly drop against most major peers as signs of growth in the U.S. and prospects for further stimulus by the Bank Japan of prompted investors to seek higher-yielding assets.
The greenback is poised for a five-day advance against the euro before U.S. data today forecast to show industrial production increased and consumer sentiment improved. The won rose for the first time in three days as data showed foreign investors were net purchasers of South Korean shares.
Oil advanced for the first time in three days in New York, trimming a weekly decline as investors bet that fuel demand will increase with an economic recovery in the U.S., the world’s biggest crude consumer.
Gold traders are the least bullish in two months after prices erased more than half of this year’s gain on speculation that a strengthening U.S. economy will dissuade the Federal Reserve from buying more debt.
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