Dollar Reaches 5-Week High on China Rout, Oil Drop, Greek Crisis

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The dollar surged to a five-week high as unfinished efforts to address Greece’s debt crisis and a rout in commodities pushed investors into the safest assets.

The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 of its major peers, gained 0.6 percent to 1,197.22 as of 1:50 p.m. New York time. It touched the highest level since June 1. The yen added 0.1 percent to 122.43 per dollar.

The currency rallied 1.5 percent this week against the euro, and reached $1.0916, the strongest since June 2.

Source: Bloomberg

Gold Falls to 15-Week Low, Silver Sags as Dollar Gains on Greece

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Gold fell to a 15-week low and silver slumped to the cheapest in seven months after Greece’s economic crisis boosted haven demand for the dollar, eroding the allure of precious metals as stores of value.

On the Comex in New York, gold futures for August delivery declined 1.8 percent to settle at $1,152.60 an ounce at 1:48 p.m. after touching $1,146.80, the lowest for a most-active contract since March 18. Silver futures for September delivery tumbled 5 percent to $14.969 an ounce. Earlier, the metal reached $14.62, the cheapest since Dec. 1.

The dollar rose to a five-week high against a basket of 10 currencies. Greek Prime Minister Alexis Tsipras is in Brussels for what could be a last chance to secure a rescue from European leaders and keep his country in the euro. In the week ended June 30, the net-long position in gold futures and options plunged 55 percent, the most since U.S. government data began in June 2006.

Gold has dropped 12 percent in the past 12 months as the greenback jumped 18 percent.

Bullish bets on gold futures and options last week fell to 21,480 contracts, the lowest since October 2006, government data showed Monday. Holdings in global exchange-traded funds backed by the metal declined in eight of the past nine weeks, according to data compiled by Bloomberg.

Aggregate futures trading in silver on Tuesday was 88 percent above the 100-day average for this time, according to Bloomberg data. Gold volume was 37 percent higher.

On the New York Mercantile Exchange, platinum futures for October delivery dropped 2.3 percent to $1,041.50 an ounce after falling to $1,027, the lowest since February 2009. Palladium futures for September delivery fell 3.5 percent to $652.40 an ounce, the biggest decline since March 27.

Source: Bloomberg

Japan Stocks Fall as Investors Weigh Greek Deadline, China Rout

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Japanese stocks fell as investors weigh China’s broadening equity rout and an ultimatum from European leaders that they will force Greece out of the currency union if a Sunday deadline isn’t met.

The Topix index lost 0.4 percent to 1,631.12 as of 9:01 a.m. in Tokyo, with all but seven of its 33 industry groups declining. The Nikkei 225 Stock Average dropped 0.4 percent to 20,287.11.

China is suffering its biggest stock rout since 1992 as leveraged investors exit the market despite government measures aimed at stemming losses. Greece has five days to submit a new set of reform proposals needed to earn more bailout aid and bring its economy back from the brink. European Commission President Jean-Claude Juncker said a scenario for Greece exiting the euro has been prepared.

Source : Bloomberg

Indeks Saham AS Rebound Sementara Saham Asia, Komoditas Tenggelam

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Indeks Standard & Poor 500 naik, membalikkan penurunan lebih dari 1 persen, karena meningkatnya spekulasi bahwa krisis Yunani akan terkandung. Ekuitas emerging-market jatuh di tengah aksi jual komoditas, sementara dolar menguat.

Indeks S&P 500 naik 0,6 persen pukul 4 sore di New York, rebound pasca tergelincir di bawah harga rata-rata untuk 200 hari terakhir. Indeks Stoxx Europe 600 turun sebesar 1,6 persen dan indeks MSCI Emerging Markets anjlok sebesar 1,4 persen seiring penurunan komoditas dari minyak hingga logam industri karena kekhawatiran bahwa permintaan China akan merosot. Obligasi imbal hasil tenor 10-tahun turun tiga basis poin menjadi 2,26 persen, pemangkasan slide dari 10 basis poin.

Yunani mengesampingkan tabrakan langsung dengan kreditur dengan menjanjikan untuk menempatkan proposal ekonomi secara tertulis. Kepala keuangan kawasan euro akan membahas permintaan tersebut pada hari Rabu, langkah pertama menuju dimulainya kembali pembicaraan. Saham China yang ditransaksikan di Hong Kong memasuki fase bearish bahkan pemerintah China bergerak untuk membendung penurunan tersebut, memicu kekhawatiran permintaan komoditas akan melemah. (izr)

Sumber: Bloomberg

U.S. Stocks Decline as Commodity Shares Slide Amid Greek Talks

The Standard & Poor’s 500 Index fell below its average price for the past 200 days for first time since October, as commodities plunged and the Greece crisis continued.

The S&P 500 Index slipped 0.6 percent to 2,057.35 at 12:05 p.m. in New York, and earlier reached a three-month low. The Dow Jones Industrial Average retreated 119.06 points, or 0.7 percent, to 17,564.52. The Nasdaq Composite Index declined 1.2 percent. Trading volume in S&P 500 companies was 39 percent above the 30-day average for this time of day.

U.S. stocks fell on Monday after Greek voters rejected austerity measures in a referendum. Prime Minister Alexis Tsipras is in Brussels today for what could be a last chance to secure a rescue from European leaders and keep his country in the euro. Finance ministers and leaders from the region meet today, and they have all made clear the onus is on Greece to explain how it plans to pull itself out of the crisis.

Source : Bloomberg