Dollar Climbs as Rising Volatility Spurs Emerging-Market Exodus

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The dollar strengthened to its highest level in more than 10 years against a broad basket of peers as a standoff between Greece and its European creditors and tenuous peace talks with Russia over Ukraine sent volatility soaring.

Investors are fleeing riskier emerging-markets currencies including the Brazil™s real and South Africa™s rand as concern increases that geopolitical turmoil will add to the slowdown in global economic growth. Central-bank measures from Europe to Australia are raising speculation that many nations are actively seeking to drive down their exchange rates to lift growth and inflation in what traders refer to as a currency war.

The Bloomberg Dollar Spot Index advanced 0.5 percent to 1,174.87 as of 5 p.m. in New York, the highest close since December 2004, when data begins.

The greenback added 0.9 percent to 120.46 yen and slipped 0.1 percent to $1.1336 per euro.

Source : Bloomberg

Gold Futures Drop to One-Month Low as Dollar Rally Curbs Demand

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Gold futures fell to the lowest in almost a month as gains for the dollar cut demand for the precious metal as an alternative asset.

The dollar climbed to a 10-year high against a basket of 10 counterparts as traders sought safety from volatility in emerging markets. Investors favored the U.S. currency over gold as signs of a stronger American economy increase the likelihood that the Federal Reserve will raise interest rates for the first time since 2006.

Gold dropped 29 percent in the previous two years, posting the first consecutive annual decline since 1998 as equities surged to a record and the U.S. economy gained traction. Higher rates cut gold™s allure because the metal generally offers investors returns only through price gains. A government report Tuesday that showed gains for American job openings underscored the thriving labor market.

Gold futures for April delivery fell 1 percent to settle at $1,219.60 an ounce on the Comex in New York, after touching a four-week low of $1,218.20.

Sumber : Bloomberg

Wall St. ends flat while investors await Greece, Ukraine news

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The S&P 500 index finished unchanged on Wednesday as investors were reluctant to make big bets while they waited for the outcomes of major talks involving Greece and Ukraine, but Apple helped boost the Nasdaq after an activist investor's bullish comments.

Greek Finance Minister Yanis Varoufakis began tense talks with euro zone finance ministers on Wednesday after his new leftist-led government won a parliamentary confidence vote refusing extend an international bailout. International Monetary Fund Chief Christine Lagarde said going into the meeting that the process would likely take time.

Adding to the market's uncertainty, the leaders of France, Germany, Russia and Ukraine began peace talks in Belarus, while in Ukraine pro-Moscow separatists tightened the pressure on Kiev by launching some of the war's worst fighting.

The Nasdaq .IXIC was boosted late in a lackluster session by a 2.3 percent gain in Apple Inc (AAPL.O) shares after activist investor Carl Icahn issued a letter saying the iPhone maker should be valued at $216. Apple closed at $124.88.

The Dow Jones industrial average .DJI fell 6.62 points, or 0.04 percent, to 17,862.14, the S&P 500 .SPX lost 0.06 points, or -0 percent, to 2,068.53 and the Nasdaq Composite .IXIC added 13.54 points, or 0.28 percent, to 4,801.18.

Source : Reuters

U.S. Stocks Fluctuate Amid Greece Negotiations as Energy Slides

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U.S. stocks fluctuated, after equities Tuesday reached their highest level this year, as energy and utility companies fell while Germany and Greece met for debt negotiations.

Energy shares in the Standard & Poor™s 500 Index lost 0.6 percent as oil prices declined for a second day. Pier 1 Imports Inc. tumbled 23 percent after cutting its full-year forecast. PepsiCo Inc. increased 2 percent as fourth-quarter profit topped estimates even as currency headwinds eroded sales. Rite Aid Corp. added 9.8 percent after agreeing to buy EnvisionRX for about $2 billion.

The S&P 500 Index fell less than 0.1 percent to 2,067.99 at 12:23 p.m. in New York. The benchmark gauge rallied 1.1 percent Tuesday to approach an all-time high reached Dec. 29. The Dow Jones Industrial Average declined 29.54 points, or 0.2 percent, to 17,839.22 Wednesday. The Nasdaq 100 Index climbed 0.4 percent.

Source : Bloomberg

European Stocks Decline as Investors Await Greek Talks Outcome

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European stocks declined amid investor concern that Greek Finance Minister Yanis Varoufakis won™t reach an agreement on new bailout terms at a meeting with his euro-area counterparts in Brussels.

The Stoxx Europe 600 Index fell 0.2 percent to 372.04 at the close of trading, after earlier losing as much as 0.5 percent. The yield on three-year Greek notes jumped 125 basis points to 20.76 percent, while the ASE Index lost 4 percent, the most among 18 western-European markets. Benchmark equity indexes in Spain and Portugal slid at least 1.3 percent.

German Finance Minister Wolfgang Schaeuble late Tuesday damped hopes of a compromise at today™s 5:30 p.m. emergency meeting, saying there are no plans to discuss a new agreement. Still, Greek Prime Minister Alexis Tsipras said there is œno way back for his government, and he wants a new accord that won™t subject his people to more pain.

Greece is seeking support for a 10 billion-euro ($11.3 billion) bridge plan to stave off a funding crunch and buy time to win an easing in austerity terms from creditors. Any deal would require a softening of Germany™s stance.

Source : Bloomberg