Dollar Trapped in Yen Doldrums With Fibonacci Topping Cloud

The dollar is stuck in the doldrums against the yen, caught between two key technical indicators suggesting it will remain in a range until U.S. jobs data this week, according to IG Markets Securities Ltd. The U.S. currency tested last week the 76.40 percent Fibonacci retracement of the high reached June 5 and the low set July 8, climbing 0.01 yen above it to 124.58 yen on July 30 before falling back. It has also rebounded each time...

Oil Extends Drop as Iran Pledges Quick Output Boost Amid Glut

Oil extended its biggest monthly slump in nearly 7 years as Iran vowed to boost output almost immediately after sanctions against the Persian Gulf producer are lifted. Futures in New York dropped as much as 1.6 percent, after capping a 21 percent drop in July on Friday. Iran can increase production by 500,000 barrels a day within a week after the end of sanctions and by 1 million barrels a day within a month after that, said state-run...

Asian Stocks Fall on China Factory Data as Energy Shares Retreat

Asian stocks fell for the first time in four days as data showed a Chinese factory gauge slipped to a five-month low and energy shares retreated amid a drop in oil. The MSCI Asia-Pacific Index slipped 0.3 percent to 141.67 as of 9:07 a.m. in Tokyo. The measure lost 0.4 percent last week for a second weekly decline. The official China Purchasing Managers’ Index was 50 in July, compared with the median estimate of 50.1 in a Bloomberg survey...

Japan Stocks Fall for First Time in Four Days as Crude Oil Drops

Japanese stocks fell, with the Topix index headed for its first loss in four days, as energy explorers declined amid lower crude oil prices. The Topix dropped 0.1 percent to 1,658.40 as of 9:03 a.m. in Tokyo, after Friday capping a 1.8 percent increase for July. The Nikkei 225 Stock Average slipped 0.3 percent to 20,514.27. More than 70 companies in the Topix will report quarterly results Monday. Of the 903 firms that have reported...