Do More With Reuters
Partner Services

FOREX-Euro recovers from sharp falls vs dollar

Fri Jul 3, 2009 1:09pm IST
 
Email | Print | | Single Page
[-] Text [+]

* Euro recovers modestly vs dlr after Thursday's sharp fall

* Mood remains cautious after bleak U.S. jobs numbers

* Euro zone services PMI, retail sales data awaited

* Trade seen quiet due to U.S. public holiday

(Updates prices, changes byline, dateline; previous TOKYO)

By Jessica Mortimer

LONDON, July 3 (Reuters) - The euro recovered modestly against the dollar on Friday after falling sharply in the wake of bleak U.S. jobs numbers which dampened hopes of a global recovery, though trade was quiet due to a U.S. public holiday.

Investors are awaiting the final estimate of the euro zone purchasing managers' survey on the services sector at 0758 GMT, as well as euro zone retail sales figures at 0900 GMT.

The euro and currencies such as the Australian dollar, which have benefited from investors' hopes of an economic turnaround, weakened sharply on Thursday after data showed U.S. employers cut 467,000 jobs in June, far more than expected. [ID:nN01210643]  Continued...

Dubai Debt Fears

Villas are seen on the The Palm, Jumeirah, with Atlantis, The Palm, under construction on the breakwater (crescent), May 3, 2008.  REUTERS/Jumana El Heloueh

Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets.  Full Article | Slideshow 

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India.  Full Coverage 

People stroll outside the Taj Mahal hotel ahead of the first anniversary of the militant attacks in Mumbai, November 24, 2009.  REUTERS/Punit Paranjpe
Investors worry about another attack

The risk of militants striking again worries investors who fear that a second attack similar to last year's Mumbai raids could shake the economy.  Full Article | Full Coverage 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

road to Copenhagen

BLOGS

Photo
Calculated Move

Reliance aims big with $12 bln bid for LyondellBasell.  Blog 

SHOWCASE

Capital Raising
Capital Raising

Analysis - China banks' rush for billions could trip markets.  Full Article 

 
Photo
Bonus Payout

"Bonus" has become a dirty word on Wall Street.  Full Article 

 
Bubble trouble?
Bubble trouble?

With the BSE Sensex at around 17,000 points, are the Indian equity markets looking at a possible bubble?   Commentary 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Recovery Path
Recovery Path

Indian techie logging out of downturn gloom.  Full Article 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
Risky Proposal
Risky Proposal

Rupert Murdoch courts trouble if he blocks Google on news.  Full Article