Gold edged down on Thursday after trading in volatile $20 range in the previous session, but a steadier euro, gains in equities and hopes that Europe was moving to prop up the region's ailing banking sector could cushion the fall.
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CNBC's David Faber reports UTX is in talks to acquire Goodrich for $110 to $125/share, with CNBC's Melissa Lee and the Money in Motion traders.
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The euro clung to gains against the greenback on Friday, boosted by key central banks coordinated action to add liquidity to the European banking system, but the rally is unlikely to last as the Greek debt crisis remains in a critical state.
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The euro found a steadier footing in Asia on Friday, having suffered a drubbing overnight on weak euro zone data, as market attention turned to a closely watched U.S. employment report.
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Spot gold held steady on Thursday, as investors weighed the possibility of further easing moves by the U.S. Federal Reserve after better-than-expected manufacturing and labour market data, while gold purchases by central banks supported the sentiment.*
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The dollar stayed firm against major currencies on Friday, hovering near a two-week high against the yen hit the day before, after global stocks softened and worries that the Federal Reserve may fail to signal new stimulus for the economy gained the upper hand.*
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The euro nursed modest losses versus the greenback in Asia on Tuesday and could come under further pressure if euro zone manufacturing data point to more downside risk in a market already fretting about a global recession.*
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Kevin Ferry, Cronus Futures Management, explains why the currencies are back in the center stage Tuesday. "The Swiss our facing a difficult situation with their own interest rates," he adds.
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French utility EDF reported first-half profit that exceeded market expectations and unveiled mid-term earnings growth goals that made no mention of any impact from the Fukushima disaster on the nuclear industry.
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Gold edged lower on Friday, but still was headed for its fourth straight week of gains, as investors wait for a vote by the U.S. House of Representatives on a Republican plan to cut the budget as an Aug. 2 deadline for raising the debt ceiling approaches.
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Caterpillar sold $355 million of yuan-denominated bonds on Wednesday in the biggest deal by a foreign multinational company in the offshore renminbi market, a sign that Western companies are gaining confidence about China's currency experiment.
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Gold was off lows on Friday as the dollar eased with a bounce in the euro on news Greece has reached a deal with international lenders on an austerity plan, but traders were keeping an eye on the currency market.
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Gold edged down on Wednesday ahead of the outcome of a U.S. Federal Reserve meeting, which could squeeze the dollar but worries that the Greek debt crisis could affect other countries could spur buying from investors.**
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The euro clung to small gains on Tuesday as market players bet the euro zone will cobble together a plan to prevent Greece from defaulting on its debt, though its advance could stall ahead of a confidence vote on the government in the Greek parliament.
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The euro clung to most of the gains made late last week, underpinned by hopes for some progress on Greece's debt crisis, but the common currency remained vulnerable to any turn of events as European officials meet to hammer out a deal.
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The dollar wallowed at one-month lows against a basket of major currencies early in Asia on Wednesday, struggling to get up after comments from the head of the U.S. central bank bolstered expectations that U.S. interest rates will stay low for longer.
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The euro edged up early in Asia on Tuesday, steadying from a slide in a relatively subdued session overnight after the Eurogroup chairman said the common currency was overvalued.
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Gold held steady on Tuesday after rising to its highest level in more than three weeks in the previous session, with investors still focusing on Greek bailout uncertainty.
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