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Dukascopy Morning Forex Overview : 27/02/2013
"We all need to reflect on what we can do for Italy … I don't think Italy can do without being governed"
- Silvio Berlusconi
Silvio Berlusconi has ruled out an alliance with the former Italian Prime Minister Mario Monti on Tuesday and noticed that the results of elections are reflecting popular discontent with austerity measures.
Read more: FULL REPORT - Fundamental Analysis
"Nobody knows which way the Italian government will go in the near future"
- Brown Brothers Harriman (based on Reuters)
A down-trend support line, which has been breached on Jan 10, but before that remained intact since May of 2010, has proven to retain topicality to the market participants, delaying development of a dip.
Read more: FULL REPORT - Technical Analysis
"We therefore expect that the upward momentum for EUR/USD should pick up again with this week’s data potentially providing the starting point"
- Carolin Hecht, Currency Analyst at Commerzbank, on Eurozone’s economy and EUR/USD
Due to the fact that the Eurozone’s economy shrank 0.6% in the fourth quarter, there is an opinion that Euro bloc might not be over the worst yet. How would you evaluate the Eurozone's recent economic performance?
Bank of England considers negative interest scheme for high-street banks
Deputy governor hints at move aimed at helping to boost economy through loans to small businesses.
Read more: FULL REPORT - Press Review
Currency Index & Volatility: EUR
The single European currency did not follow a sole tendency throughout all of the last five trading days, being subject to fluctuations in the mood of market participants.
Read more: FULL REPORT - Market Research
Dukascopy Bank Sentiment Index
Global economic outlook
The six-month and three-year global economic expectations improved considerably in January, a Dukascopy Bank SA poll showed. The six-month economic sentiment index climbed 0.05 to 0.58. The three-year economic outlook improved to 0.77, the highest reading since records began in 2011.
Read more: FULL REPORT - Dukascopy Bank Sentiment Index
Global Stock Market Review
S&P 500 Index
U.S. equities tumbled on Monday, heading the indexes towards their biggest decline in three months after partial parliamentary election results in Italy hovered concerns about the European debt crisis.
Read more: FULL REPORT - Global Stock Market Review
Precious metals rallied on Tuesday after the Fed Chairman Ben Bernanke downplayed side effects of the US accommodative monetary policy. Broadly weaker US Dollar as well as positive economic data releases also pushed the commodity group higher.
Read more: FULL REPORT - Commodity Overview
Trade Pattern Idea
CAD/CHF Emerging Pattern: Channel Down
CAD/CHF has formed a Channel Down pattern on the 1H chart. The pattern has 66% quality and 100% magnitude in the 172-bar period.
Weekly USD/CHF Emerging Pattern: Channel Down
USD/CHF has formed a Channel Down pattern on the 1D chart. The pattern has 69% quality and 51% magnitude on in the 70-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