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Dukascopy Morning Forex Overview : 29/01/2013
"Todayís Ifo index nicely illustrates the green shoots in the German economy"
- Carsten Brzeski, an economist at ING Group
The Eurozone M3 money supply increase slowed unexpectedly last month, the European Central Bank said on Monday.
Read more: FULL REPORT - Fundamental Analysis
"There is still some room for euro to go higher, but the road upwards will be characterized by bumps, pauses and even by corrections"
- Commerzbank (based on Reuters)
The major currency pair gradually depreciates from a 2012ís high, but bearish sentiments still are very weak and donít demonstrate any correction momentum.
Read more: FULL REPORT - Technical Analysis
"It is very hard to see any reason to be optimistic about Japan"
- Charles Robertson, Global Chief Economist at Renaissance Capital, on the world economy
Do you agree with the IMF's 3.5% global growth outlook for this year?
Belgiumís Vanackere Says Euro Area Hits Turning Point in Crisis
Belgian Finance Minister Steven Vanackere said the euro area has begun to emerge from the three- year-long debt crisis, crediting political plans for more financial integration and the European Central Bankís pledge to limit government borrowing costs.
Read more: FULL REPORT - Press Review
Currency Index & Volatility: EUR
Throughout the last week the single European currency has enjoyed an inflow of positive economic data, such as improving economic expectations and consumer sentiment, which was only tainted by a worse-than-expected German PPI numbers.
Read more: FULL REPORT - Market Research
Dukascopy Bank Sentiment Index
Global economic outlook
The current global economic outlook was little changed at 0.50 in December. The six-month and three-year global economic expectations deteriorated to 0.53 and 0.68, a Dukascopy Bank SA poll showed.
Read more: FULL REPORT - Dukascopy Bank Sentiment Index
Global Stock Market Review
Dow Jones Industrial Average
U.S. equities posted longest series of daily gains since the year 2004 on better-than-expected corporate profits and U.S. lawmakers' decision to temporarily delay the federal debt-ceiling.
Precious metals started the week on the negative note amid increased caution ahead of the Fed monetary policy decision due on Wednesday. Broadly stronger US Dollar and signs of global economic recovery also weighed on the commodity complex.
Read more: FULL REPORT - Commodity Overview
Trade Pattern Idea
AUD/CAD Emerging Pattern: Channel Up
AUD/CAD has formed a Channel Up pattern on the 1H chart. The pattern has 51% quality and 94% magnitude in the 322-bar period.
Weekly AUD/NZD Emerging Pattern: Triangle
AUD/NZD has formed a Triangle pattern on the 1D chart. The pattern has 87% quality and 100% magnitude on in the 133-bar period.
Currency Pair Returns: Risks
The Dukascopy Bank SA research department continues its work on statistical properties of currency pair returns. The previous part of the research marked out relationships amongst returns. It was therefore dedicated to a somewhat determinate aspect of their behaviour. In this issue we look into uncertainty of the movements and investigate the parameters that can help reduce it.
Read more: FULL REPORT - Economic Research
Dukascopy Aggregate Technical Indicator
Dukascopy Bank presents a new research product - the aggregate technical indicator. The new tool will indicate the strongest signals on major currency pairs. Dukascopy Aggregate Technical Indicator for 30 min, 1H, 4H and 1D time frame charts for major pairs for the last 144 periods till 07:00 GMT.
Read more: FULL REPORT - Dukascopy Aggregate Technical Indicator