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ActionTitle:
Speculation On Grexit Continues To Hammer The Euro
Sunrise Market Commentary
- Fixed Income: Global core bonds profit from euro debt crisis
- Concerns about Greece and Spain underpinned the ongoing rally of global core bonds. The German 10-year yield fell below 1.50%. Intra-EMU yield spreads versus Germany widened substantially. Today, the eco calendar is enticing. If no euro debt crisis news acts as a circuit breaker, the eco data may for once drive the price action.
- Currencies: Speculation on Grexit continues to hammer the euro.
- At the start of the new trading week, the Greek crisis remained the key factor for currency trading. With no visibility on the outcome of the EMU crisis, the easiest way for the euro is south. EUR/USD set a new correction low. EUR/GBP dropped below the 0.8000. This morning, strong German ...
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SunBirdFX Daily Market Analysis : 05/15/2012
www.sunbirdfx.com
The bearish momentum from last week continued to the first day of the trading week in Wall Street, as the indices shed 1.0%, NASDQ is close to break-down the recent low from the beginning of April, as Dow and S&P already did. The break-down of the previous week's low might indicate for an incoming bearish session of 5% down, but the investors might take this opportunity for shopping, so we might see the bullish reversal soon.
USD/CAD
The investors will focus on the retails sales in the US and the CPI, which expected to remain unchanged. However, as we keep mentioning, the movement of the stocks rather the fundamental data mainly influences the USD these days. Therefore, and since the stocks keep weakening, the USD is strengthening against the major currencies, ...
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YouTradeFX Weekly Market Analysis : 15/05/2012
Fundamental News
Today’s highlights:
· French GDP (QoQ) (FRA, 6:30 GMT)
· German GDP (QoQ) (GER, 7:00 GMT)
· French Non-Farm Payrolls (QoQ) (FRA, 7:45 GMT)
· Trade Balance (GB, 9:30 GMT)
· ZEW Economic Sentiment (EUR, 10:00 GMT)
· German ZEW Economic Sentiment (GER, 10:00 GMT)
· GDP (QoQ) (EUR, 10:00 GMT)
· Core CPI (YoY) (U.S, 13:30 GMT)
· Retail Sales (MoM) U.S, 13:30 GMT)
· NY Empire State Manufacturing Index (U.S, 13:30 GMT)
· TIC Net Long-Term Transactions (U.S., 14:00 GMT)
Foreign direct investment in China fell for a sixth month in April, as faltering global growth and renewed turmoil in financial markets dented company spending in Asia’s biggest economy. Inbound investment ...
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Gold pares some of the losses, yet remains under pressure
Gold pared some of its losses after falling for three consecutive sessions on Tuesday trading amid political concerns in Greece which is making investor`s wary of buying bullions or risky assets.
On the daily basis, gold is showing a drop where it fell to a low of $1548.33 an ounce yet a rebound on the short-time frames managed to push price up to $1553.97, noting that it opened today`s trades at $1.556.37.
The yellow metal benefited from the better-than-expected German GDP report which showed that the euro area`s biggest economy grew 0.5% in the first quarter, beating expectations of 0.1% expansion.
Yet, the main focus will turn to euro area GDP due at 09:00 GMT, where expectations are in favor of 0.3% drop in the first quarter, following the 0.2% contraction in the last quarter of ...
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Germany expands in the first quarter, beating recession-projections
Germany released the growth-linked gross domestic product index for the first quarter, where the German economy grew over quarterly basis 0.5% from the prior contraction of 0.2%, beating median estimates of 0.1% growth.
The non-seasonally adjusted annual index expanded by 1.7% from the previous and the expected 0.9%, while the working-day adjusted index expanded by 1.2% from the previous and projected 0.8%.
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Oil slides on euro zone, China fears
Oil fell sharply on Monday, extending recent heavy losses, as mounting political uncertainty in Greece and worry about the prospects for growth in China added to a sense that the demand outlook is worsening.
Adding to jitters about the future of the euro zone, Greece's radical leftist leader spurned an invitation from the president for a final round of coalition talks on Monday, pushing Athens to the brink of fresh polls.
This added to already mounting worries of a global economic slowdown triggered by last week's lackluster industrial output data from China, the world's second-largest economy and oil consumer.
Brent crude was down by $1.65 to $110.61 a barrel by 1307 GMT, stretching its losses into a third session and after settling at $112.26 on Friday.
It earlier fell more than $2, ...
Title:
Oil slides on euro zone, China fears
Oil fell sharply on Monday, extending recent heavy losses, as mounting political uncertainty in Greece and worry about the prospects for growth in China added to a sense that the demand outlook is worsening.
Adding to jitters about the future of the euro zone, Greece's radical leftist leader spurned an invitation from the president for a final round of coalition talks on Monday, pushing Athens to the brink of fresh polls.
This added to already mounting worries of a global economic slowdown triggered by last week's lackluster industrial output data from China, the world's second-largest economy and energy consumer.
Brent crude slipped $1.69 to $110.57 a barrel by 1117 GMT, stretching its losses into a third session, after settling at $112.26 on Friday.
It earlier fell more than $2, and ...
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China’s growth engine cooling down
Forex News and Events:
As anticipated in Friday’s newsletter, China cut its Reserve Requirement Ratio for the second time this year. Shielded by easing inflation, Chinese authorities relaxed their grip on banks’ cash reserves parked at the PBoC through a 50 basis point cut effective starting May 18. This measure will allow the RRR to drop to 20% for the main national financial institutions and will release an estimated CNY 400bn in capital into the market. The move came after the publication of a weaker-than-expected Chinese Trade balance on Thursday, indicating exports and imports grew by 4.9% and 0.3% y-o-y respectively, a far cry from the 10 and 11 percent goals for the year. The near-zero import growth could be explained by the piling up of metal domestic inventories and might affect ...
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SunBirdFX Daily Market Analysis : 05/14/2012
www.sunbirdfx.com
Wall Street closed a volatile trading week with declines of 1.0% in weekly summary, in spite of improving consumer sentiment data. The bearish momentum spread among the traders after JP Morgan declared a loss of 2 billion dollars and its downgrade by the ranking agency Fitch.
On the technical aspect, the indices made retests to the break-down level in each index' daily chart. The S&P broke the important support at 1360 points but corrected up after reaching 1340 points, and the sellers showed up at 1360 several time during the week. Therefore, if the index successfully breaks-through this resistance, it might jump above 1380 points. However, if the bearish momentum continues, the large blend might break-down the recent low at 1340 point and slide towards 1300 points.
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