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Dollar falls against yen in late trading

NEW YORK (AP) - The dollar fell against the Japanese yen, trading at 103.82 yen late Monday night in New York compared with 104.17 yen late Monday afternoon.Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Singapore Telecom end-March mobile subscribers over 185 million

SINGAPORE (Thomson Financial) - Singapore Telecommunications Ltd. (SingTel), Southeast Asia's biggest telecommunications operator, said Tuesday the group's combined mobile subscribers rose to over 185 million as of end-March from about 124 million a year ago.SingTel units in Singapore, Australia, Bangladesh, India, Indonesia, Pakistan and the Philippines added 13.8 million new subscribers in the first quarter, the biggest quarterly increase.The group will release its year to March 2008 results tomorrow.Based on a Thomson Financial poll of 13 analysts, SingTel's full-year net profit should average S$3.77 billion, little changed from S$3.78 billion a year ago.

Forex - Dollar trading in tight ranges ahead of Bernanke speech, data

TOKYO (Thomson Financial) - The dollar was trading in narrow ranges against major currencies in afternoon trading on Tuesday,with investors hesitant to take fresh positions ahead of a series of data this week that could provide further clues on the magnitude of a U.S. economic slowdown.Retail sales figures are expected to be released on Tuesday, while consumer price inflation datawill be released on Wednesday and housing starts are due on Friday.Investors were also waiting for a speech by Federal Reserve Chairman Ben Bernanke for fresh leads on the health of the U.S. economy and where interest rates are headed. Bernanke is due tospeak on Tuesday at a financial markets conference organized by the Federal Reserve Bank of Atlanta.At 1:45 p.m. (0445 GMT), the dollar was at 103.85 yen, compared to 103.69-103.79 yen in late New York trade. The euro was at $1.5525, compared to $1.5477-$1.5487.The euro advanced against the dollar on speculation that European monetary authorities maytolerate a stronger currency, traders said."While a slew of economic events this week could move the market drastically, there is also a possibility that we end up with rangebound deals at between 102 and 104 yen as the market currently lacks focus," said Yosuke Hosokawa, currency dealer at Chuo Mitsui Trust & Banking Co.Traders are also closely watching developments in Asian markets after a strong earthquakeshook China's Sichuan province, raising worries about reconstruction costs. The death toll from the 7.8-magnitude quake has risen to nearly 10,000, according to China's state media.
Tokyo 1:45 p.m. (0445 GMT)
U.S. dollar yen 103.85
Swiss franc 1.0450
EuroU.S. dollar 1.5525
yen 161.26
Swiss franc 1.6224
pound 0.7945
PoundU.S. dollar 1.9536
yen 202.90S
wiss franc 2.0415
Australian dollar
U.S. dollar 0.9456
pound 0.4838
yen 98.20

USD Slips, ECB & BoE Unchanged

The dollar eased against the euro and the yen in the Thursday session, falling to 1.5441 and 103.42, respectively. Central bank decisions garnered the lion’s share of the attention today, with the European Central Bank and the Bank of England both announcing rate decisions in the morning.

The US economic calendar was light today, which saw weekly jobless claims improve to 365k versus 380k a week earlier. Meanwhile, wholesale inventories posted a 0.1% decline in March compared with a 1.1% increase in February. Friday’s data will see the March trade deficit, expected shrink to $61.3 billion down from $62.32 billion in February.

Forex online

The FX market
The foreign exchange market, also known as the FX market, or FOREX, is the global market of exchanging or converting one currency for another, this conversion is accomplished by selling one currency and buying another. The relative amount of each currency in the transaction is determined by the foreign exchange rate between the two currencies (also known as the currency pair). There is no formal exchange location where FX trading occurs. They are done OTC, or over-the-counter. The transaction of exchanging a currency pair takes place directly between two counterparties via telephone or electronic data link (trading platform). The counterparties for an FX transaction may be located anywhere in the world. These exchanges take place 24 hours a day from Monday morning in Australia, through Friday afternoon in New York. The size of the market and the ability to trade it worldwide, day or night provides the facilitation and liquidity that make FOREX an excellent investment opportunity.Speculating on the price changes between two currencies is what brings such large numbers of investors and traders to the FX market. The exchange rate is in constant fluctuation and is influenced by several different factors, including fundamental, technical and political. This affects one or both members of the currency pair, and therefore the relative supply and demand. Traders can make significant profits buying or selling a currency’s pair at one rate and then reversing or closing the transactions at a more favorable rate.
There is more speculation and trading opportunities in the FX market than in all other financial markets combined. Since trading in FOREX is a leveraged transaction, there is a significant opportunity to make a profit while maintaining a healthy risk/reward ratio. Leverage, liquidity and 24 hour facilitation all combine to make the FX market one of the premier investment vehicles available to investors and brokers alike.

Wall Street looks to US consumers for direction

NEW YORK (AP) - With millions of stimulus checks going out to taxpayers, Wall Street wants to know where that money will be spent -- and this week's data could help investors gauge the mind-set of the average consumer.Tax rebates have historically been helpful in boosting the economy, but they only really work if they're used to buy goods and services. With many consumers weighed down by debt and saving up to keep up with the cost of basic necessities, some market experts are concerned that what's best for most individuals -- saving their rebates -- might not end up helping the broader economy.Whether the average consumer feels financially healthy could determine whether the economy gets that late-2008 lift that so many investors have been betting on.On Tuesday, the Commerce Department reports on retail sales in April. Economists surveyed by Thomson Financial/IFR estimated, on average, that sales dipped by 0.1 percent last month after growing by 0.2 percent in March.Also this week, several big retailers -- Wal-Mart Stores Inc., Macy's Inc., JCPenney Co. and Kohl's Corp. -- release their first-quarter results, along with outlooks for later in the year.After seeing last week's batch of mixed April sales figures from individual retailers, Wall Street knows that spending remains weak, but investors want more information. Retailers have made clear that consumers are changing their spending habits to accommodate the rising cost of energy and food, but no one knows how long these conditions will last.Investors will learn more about the inflation consumers face when the Labor Department releases its consumer price index Wednesday. The index is expected to have risen by 0.3 percent in April after increasing by a similar amount in March. Core consumer prices, which strip out food and energy, are expected to have climbed by 0.2 percent after rising at the same pace the previous month.Last week was a downbeat one in the stock market, with the major indexes retrenching following three straight weeks of gains as a few poor earnings results and surging oil prices weighed on investors. The Dow Jones industrial average sank 2.39 percent, the Standard & Poor's dropped 1.81 percent, and the Nasdaq composite index slid 1.27 percent.Crude oil soared by about $10 last week to settle near $126 a barrel, yet another all-time high. Meanwhile, the average roadside price for a gallon of gasoline jumped above $3.67.Market experts are split over whether oil prices will remain at these levels, surge higher, or collapse, so stock traders will continue to monitor the energy markets closely.In other economic data this week, on Thursday, the National Association of Home Builders releases its May index and the Philadelphia and New York Federal Reserves report on their regions' manufacturing activity. On Friday, the Commerce Department reports on housing starts in April and the University of Michigan releases its consumer sentiment index.Other major companies releasing earnings this week include MBIA Inc., Sprint Nextel Corp., Toll Brothers Inc., Deere & Co., Freddie Mac, and Hewlett-Packard Co.