Currency trading, Euro advances as consumer spending increases.

The yen and the dollar fell against higher-yielding currencies as stocks gained before a U.S. report that economists said will show an index of leading economic indicators rose, damping demand for safer assets.

The euro advanced to a two-week high against the dollar before a French report this week that may show consumer spending rebounded last month, signaling the worst of the global recession is over.

The Canadian dollar registered its first five-day increase since May, ending a six-week losing streak, as investors raised bets on higher-yielding assets on speculation the global recession is easing. Canada’s currency, appreciated to C$1.1134 per U.S. dollar in Toronto, from C$1.1638 on July 10. Its last weekly gain, a 2.6 percent increase, was posted May 29. One Canadian dollar buys 89.81 U.S. cents.

The yen declined to 134.10 per euro as of 7:40 a.m. in London from 132.85 in New York last week, after earlier dropping to 134.34, matching its low on July 6. The dollar fell to $1.4160 per euro from $1.4102, after slipping to $1.4181, the weakest level since July 1. Japan’s currency slid to 94.75 versus the dollar from 94.19.

Crude oil rose for a fourth day on speculation demand will increase as stock markets advanced and Chinese refiners boosted processing to a 16-month high. Crude oil for August delivery rose as much as 73 cents, or 1.2 percent, to $64.29 a barrel in after-hours electronic trading on the New York Mercantile Exchange. Prices were at $64.25 at 2:10 p.m. Singapore time. Oil has gained 44 percent this year.

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The yen and Treasuries advanced as speculation CIT Group Inc. will file for bankruptcy and blasts in Indonesia’s capital spurred demand for safer assets.

Japan's currency climbed against 15 of its 16 major counterparts after New-York based CIT, the lender facing insolvency because it failed to obtain U.S. guarantees for its bonds, said it is still in talks to secure financing. CIT may need as much as $6 billion to avoid bankruptcy, CreditSights Inc. analysts said yesterday. CIT executives are seeking $2 billion to $3 billion in financing from the private sector, the Wall Street Journal reported, citing unidentified people familiar with the situation.

The yen gained for a second day against the euro as bombs tore through the Ritz Carlton and the JW Marriott hotels in the Indonesian capital, killing at least nine people and injuring 42 others, police said.

The yen rose to 132.14 versus the euro as of 7:35 a.m. in London from 132.89 yesterday in New York, and climbed to 93.66 per dollar from 93.93. The U.S. currency gained to $1.4089 per euro from $1.4148.

Futures on the Standard & Poor's 500 Index declined 0.3 percent, suggesting U.S. stocks will open trading lower. The Dollar Index, which the ICE uses to track the currency against those of six major U.S. trading partners such as the euro and the yen, rose 0.4 percent to 79.422.

Crude oil fell in New York, reversing two days of gains, as the dollar rose against the euro, limiting the appeal of commodities as an investment. Crude oil for August delivery fell as much as 52 cents, or 0.8 percent, to $61.50 a barrel on the New York Mercantile Exchange. It was at $61.71 a barrel at 2:31 p.m. Singapore time. It rose as much as 0.5 percent to $62.35 a barrel

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The yen and the dollar strengthened against the euro after CIT Group Inc. said it probably will not receive a federal bailout, spurring speculation the U.S. commercial lender will file for bankruptcy.

The Japanese and U.S. currencies both advanced against at least 13 of their 16 major counterparts after a U.S. report showed foreclosure filings increased to a record, boosting demand for safer assets. The New Zealand dollar fell the most in a week after Fitch Ratings cut the outlook for the nation's long-term credit rating. The Dollar Index climbed from near a five-week low after charts showed its 1.4 percent decline in the past month was excessive.

The yen advanced to 132.28 per euro as of 7:46 a.m. in London from 132.95 in New York yesterday, when it weakened to 133.40, the lowest level since July 7. The dollar rose to $1.4077 per euro from $1.4107. Japan's currency climbed to 93.96 per dollar from 94.23.

New Zealand's dollar declined 1.1 percent to 64.16 U.S. cents, the biggest drop since July 7, and slipped 1.3 percent to 60.32 yen. Australia's currency weakened 0.5 percent to 79.88 cents and fell 0.7 percent to 75.13 yen.

Gold fell for the first day this week in London as the dollar climbed, eroding demand for precious metals as alternative investments. Gold for immediate delivery dropped as much as $3.85, or 0.4 percent, to $935.35 an ounce and was at $936.88 at 8:45 a.m. local time. Prices gained 2.9 percent over the previous three days. Bullion for August delivery slipped 0.3 percent to $936.60 an ounce on the New York Mercantile Exchange's Comex unit.

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The yen and the dollar weakened against the euro before a U.S. report today that economists said will show the contraction in industrial production slowed, damping demand for safer assets. The yen and the dollar also weakened after Intel Corp.'s revenue forecast beat estimates yesterday and Goldman Sachs Group Inc. reported higher-than-expected earnings, damping demand for safer assets.

Asian currencies strengthened, as regional stocks gained and foreign- exchange and equity-market volatility declined, spurring investors to buy higher-yielding assets. However, the yen declined against 13 of the 16 major currencies after the Bank of Japan lowered its forecasts for the economy, reducing the appeal of the currency. Bank of Japan forecast the economy will shrink 3.4 percent in the year ending March 2010, more than the 3.1 percent predicted in April. That would outstrip last fiscal year's 3.3 percent contraction as the worst in the postwar era. GDP will increase 1 percent in the following fiscal year, less than the 1.2 percent predicted three months ago.

The yen declined to 131.37 per euro as of 7:50 a.m. in London from 130.62 yesterday in New York, after earlier dropping to 131.40, the lowest since July 8. The dollar weakened to $1.4060 per euro from $1.3967. The yen was at 93.42 versus the dollar from 93.50.

The pound rose against the dollar, climbing 0.3 percent $1.6355 as of 6:59 a.m. in London. The British currency was little changed versus the euro, trading at 85.60 pence, from 85.62 pence yesterday.

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The yen and the dollar strengthened for a second day against the euro as Asian stocks declined, increasing demand for the relative safety of the Japanese and U.S. currencies.

The yen rose against all 16 most-traded currencies after the Sunday Times reported Lloyds Banking Group Plc may announce further losses of as much as 13 billion pounds ($20.9 billion) and the Wall Street Journal said major U.S. airlines may have to file for bankruptcy. U.S. carriers such as AMR Corp.’s American Airlines and Delta Air Lines Inc. may face the prospect of having to file for Chapter 11 bankruptcy by the winter if liquidity does not improve, the WSJ reported today, citing analysts.

The yen rose to 128.18 per euro as of 7:46 a.m. in London from 129.00 in New York last week, when it reached 127.02, the strongest since May 18. The dollar advanced to $1.3910 per euro from $1.3936. The yen advanced to 92.10 per dollar from 92.54.

The pound fell for a second day against the dollar and the euro after the Sunday Times newspaper, without saying where it got the information, said yesterday Lloyds will reveal the losses in its first-half results scheduled to be reported in three weeks. The British currency slid 0.6 percent to $1.6114 as of 6:28 a.m. in London, and weakened 0.5 percent to 86.38 pence per euro.

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The euro fell, heading for its worst week against the yen in two months, after Handelsblatt reported the International Monetary Fund is discussing aid programs with at least 10 Eastern European governments.

Europe's currency weakened versus 12 of its 16 major counterparts after the German newspaper cited unidentified IMF officials as saying the countries applying for loans for the first time included Bulgaria, Croatia and Macedonia.

The yen and the dollar rose against most major currencies as U.S. stock futures fell, boosting demand for safer assets.

The euro declined to 129.09 yen as of 7:58 a.m. in London from 130.36 yesterday in New York, set for a 3.8 percent loss this week, the biggest since the period ended May 15. Europe’s currency dropped to $1.3947 from $1.4020. Japan's currency rose to 92.64 per dollar from 92.99.

Canada's dollar rose from near a seven-week low as advances by commodities and stocks boosted investor demand for higher-yielding assets such as commodity- linked currencies. Canada’s currency strengthened 0.5 percent to C$1.1622 per U.S. dollar at 4:57 p.m. in Toronto, from C$1.1675 yesterday, when it touched C$1.1725, the weakest level since May 18. One Canadian dollar buys 86.05 U.S. cents.

Gold traded little changed in Asia, headed for a second weekly decline after falling to a two-month low this week as the dollar rallied, curbing demand for the metal as a hedge against accelerating consumer prices. Gold for immediate delivery traded at $913.72 an ounce at 2:31 p.m. in Singapore, down 2 percent this week. August delivery futures on the Comex division of the New York Mercantile Exchange were down 0.4 percent at $913.

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The yen fell from a four-month high against the dollar on speculation Japanese importers sold the currency and as technical charts signaled its 3 percent gain in the past five days was excessive.

The yen weakened versus all of its 16 major counterparts after a Japanese government official said excessive currency movements were undesirable, spurring speculation the nation may eventually intervene to limit its gains. The yen and the dollar also fell as U.S. stock futures advanced and the International Monetary Fund said the global recovery next year will be stronger than it forecast in April, encouraging investors to buy higher-yielding assets.

The yen declined to 93.19 versus the dollar as of 7:40 a.m. in London from 92.88 in New York yesterday, when it strengthened to 91.81, the highest level since Feb. 17. Japan's currency fell to 129.85 per euro from 128.95. The euro advanced to $1.3927 from $1.3884.

Crude oil rebounded from a seven-week low as traders took the view that the decline in prices during the longest losing streak this year was overdone. Oil snapped a six-day slump as traders bought contracts based on technical indicators. Crude has fallen below $62.55 a barrel yesterday, the lower resistance level of the Bollinger Band, indicating it was oversold. Crude oil for August delivery gained as much as 85 cents, or 1.4 percent, to $60.99 a barrel on the New York Mercantile Exchange, and traded at $60.81 at 3:30 p.m. Singapore time. Futures touched $60.01 yesterday before closing down 4.4

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