Reuters: US Dollar Report: GLOBAL MARKETS-Dollar pauses, euro up ahead of data

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GLOBAL MARKETS-Dollar pauses, euro up ahead of data May 14th 2013, 07:48 Tweet Share this Email Print Related Topics Stocks » Currencies » Markets » Cyclical Consumer Goods » Financials » Industrials » Tue May 14, 2013 3:48am EDT * Dollar index down as euro, yen edge higher * Commodities pause from selling, gold recoups previous day's loss * European shares dip; ZEW, euro zone industrial output data eyed By Marc Jones LONDON, May 14 (Reuters) - A pause in the dollar's strong recent run helped steady oil and gold prices on Tuesday, while the euro edged up ahead of data expected to point to an easing of the single currency area's recession. After a surprising rise in U.S. retail sales boosted optimism about the recovery in the world's top economy on Monday, Germany's ZEW monthly sentiment survey at 0900 GMT is expected to show confidence in Europe's biggest picked up in May. The euro edged back above $1.30 as profit taking saw the dollar slip from a five-week high against a basket of major currencies. European stock markets started brightly but the momentum faded by 0720 GMT, with the pan-regional FTSEurofirst 300 down 0.1 percent as London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX hovered between flat and down 0.1 percent. Euro zone industrial production data also due later is expected to indicate the bloc remains in a mild recession. "We rule out that today's industrial figures should be seen as a sign that the ... (euro zone) economy is on the process of a modest recovery. Indeed, all survey indicators suggest that more weakness is in the cards in Q2," said Newedge economist Annalisa Piazza. In the region's bond markets, the benchmark German Bund stayed well inside its tight recent range. The drop back in the dollar allowed gold to find a firmer footing after three days of falls and helped oil to steady at just below $103 a barrel. Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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