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Dukascopy Morning Forex Overview : 01/02/2013
"The German labour market convinced with a distinct robustness in the second half of last year and the beginning of this year"
- Heinrich Bayer, an economist at Postbank Research
The number of people out of job in the Europeís largest economy turned lower this month, adding to signs that a pickup in German economy is gathering pace.
Read more: FULL REPORT - Fundamental Analysis
"The big trend of whatís happening is a gradual unwinding of bearish euro positioning over the last month or two"
- Faros Trading LLC (based on Bloomberg)
The single European currency seems to have decreased a pace of appreciation, but still firmly steps higher every trading session. Today the pair erodes the monthly R2 level at 1.3617, together with the upper line of the Bollinger bands.
Read more: FULL REPORT - Technical Analysis
"What I think will happen is that a trend for weaker currencies, in order to support exports, will continue, probably, in the first part of the year"
- Cristian Maggio from TD Securities on emerging markets
To your mind what is the most attractive currency among the emerging market currencies?
Italy's banking association appoints new head amid MPS scandal
The Italian Banking Association (ABI) on Thursday appointed Antonio Patuelli, chairman of the bank Cassa di Risparmio di Ravenna, as new chief to succeed Giuseppe Mussari, the former head of Monte dei Paschi di Siena (MPS) who resigned amid a financial scandal.
Read more: FULL REPORT - Press Review
Currency Index & Volatility: USD
Since the directions the U.S. Dollar has been taking were different the last and the current weeks, up and down, respectively, the change of the currency index for the observed period amounted only to +0.15%.
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
Dow plunged amid weak demand for riskier assets after disappointing US GDP reading. At the same time, Fedís monetary policy decision lifted US blue chips.
Read more: FULL REPORT - Global Stock Market Review
Precious metals followed risk-on assets on Thursday after the US data showed jobless claims increased more than expected last week. Moreover, profit taking after the previous rally weighed on the commodity sector.
Read more: FULL REPORT - Commodity Overview
Trade Pattern Idea
EUR/GBP Emerging Pattern: Channel Up
EUR/GBP has formed a Channel Up pattern on the 1H chart. The pattern has 69% quality and 31% magnitude in the 76-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