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Action Shows The PairTitle:
Dukascopy Afternoon Forex Overview : 05/18/2012
Dukascopy Fundamental Analysis
EUR
Moody's reduced credit rating of 16 Span's banks, citing a rise in bad debts in the country's financial sector and overall deterioration of the economic environment. The decision came after shares of Bankia lost another 14%. The largest banks such as Banco Santander and BBVA were downgraded while ten out of 17 banks were put on negative watch, implying that further credit rating cuts are possible.
USD
As the U.S. dollar gets stronger, investors are concerned that aggravating debt crisis in Europe will reduce demand for oil. Therefore, oil shows decline for a third week. Crude oil lost 25 cents yesterday and reached the 6-month low of $92.56. Brent oil for July delivery slid 0.5 percent to finish at $106.99.
GBP
Following a downgrade of 16 Spanish banks, ...
Title:
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 ...
Title:
EUR/USD Testing Key Support
Sunrise Market Commentary
- Fixed Income: new contract highs
- London-traders returned and the market seemed to react with a lag to this weekend's election results. In a risk off session, both the German Bund Future and the US Note Future set new contract highs, respectively at 142.62 and 133-04.
- Currencies EUR/USD testing key support
- On Tuesday, sentiment on the euro remained fragile even as there was little news from the political scene in France or Greece. EUR/USD is again testing the key 1.2974/55 support area. A break below this level would be highly significant from a technical point of view.
The Sunrise Headlines
- US Equities dropped sharply lower yesterday, but reversed most of their losses in the final hours of trading. The S&P ended the session 0.43% lower. ...
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Dukascopy Morning Forex Overview : 08/05/2012
Fundamental Analysis
EUR
" show that despite the crisis in the euro area, Germany is growing and benefiting from a revival in international trade."
- Klaus Baader, senior economist at Societe Generale SA
German factory orders rose by more than forecast in March, a sign Europe’s largest economy is weathering the debt crisis.
USD
"From where we sit right now, we think the economy looks fundamentally stronger."
- Marisa Di Natale, an economist at Moody’s Analytics in West Chester
U.S. stocks closed mixed on Monday after Francois Hollande was elected as a French president and Greek voters turned to antibailout parties.
GBP
"… the challenging economic backdrop suggests that a significant acceleration in prices or activity is unlikely in the near term."
- Robert Gardner, Nationwide’s ...
Title:
Euro Testing Key Support Levels
Sunrise Market Commentary
- Fixed Income Weak US payrolls push core bonds higher again
- On Friday, it was weaker US payrolls that helped core bonds eke out more gains, but non-core bonds held up quite well. Spreads even narrowed in the intra-EMU bond markets. We fear that this won't be the case today, as French and Greek election results inject uncertainty into markets.
- Currencies: Euro testing key support levels
- On Friday, trading in the major euro cross rate was rather calm, but the pressure remained to the downside. The US payrolls were unable to change this pattern. This morning, EUR/USD is testing the key 1.2974 support while EUR/GBP is trading south of the 0.8068 level. A sustained break below these levels would raise a red alert for the single currency.
The ...
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European Market Update : 04/05/2012
Major European Services PMI again disappoints; Focus now on US April Non-Farm Payroll report
Economic Data
(EU) ECB: €983M borrowed in overnight loan facility v €638M prior; €805.7B parked in deposit facility v €803.1B prior
(RU) Russia Narrow Money Supply (RUB): 6.90T v 6.91T prior
(SE) Sweden Apr Services PMI: 48.6 v 52.6 prior (First contraction since Nov)
(ES) Spain Apr Net Unemployment M/M: -6.6K v -15.0Ke
(UK) Apr Halifax House Prices M/M: -2.4% v -0.8%e; 3M/Y: -0.5% v +0.4%e
(ES) Spain Apr Services PMI: 42.1 v 45.4e (10th straight of contraction)
(CH) Swiss Mar Real Retail Sales Y/Y: 4.2% v 1.1%e
(SE) Sweden Mar Service Production M/M: 0.9% v 0.4% prior; Y/Y: 2.8% v 1.5%e
(IT) Italy Apr PMI Services: 42.3 v 43.7e
(FR) France Apr Final PMI Services: 45.2 v 46.4e
(DE) ...
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Awful EMU PMI Data Hit The Euro
Sunrise Market Commentary
- Fixed Income: German yields set record lows
- Depressing April PMI's and unemployment data in the EMU set the tone for a risk off session. Core bonds surged higher and the German Bund future reached a new record high. In the US session, US equities rebounded and triggered profit taking in US treasuries. German bonds stayed near the highs however.
- Currencies: Awful EMU PMI data hit the euro
- The focus in currency trading shifted from the US to Europe. On Tuesday, EUR/USD declined due to dollar strength in the wake of the ISM release. On Wednesday, an awful set of EMU data triggered a next selling wave. EUR/GBP continues to set new lows, too. We doubt that the Draghi press conference will be able to change the course of events
The Sunrise ...
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EUR/USD Ignored The S&P Downgrade Of Spain
Sunrise Market Commentary : 30/04/2012
- Fixed Income: new highs for Bund Future (141.38) and US Note Future (132-17)
- Core bonds set new contract highs on Friday after the Spanish rating downgrade. However, sentiment changed in the European session and led to return action. Today, trading will be thin ahead of tomorrow's Labour Day Holiday in most of Europe. Main items this week will be the ECB meeting (Thursday) and the US payrolls (Friday).
- Currencies: EUR/USD ignored the S&P downgrade of Spain.
- On Friday morning, the focus on the European markets was on the S&P downgrade of Spain. However, the reaction developed in a very orderly way. EUR/USD reversed the early losses and the dollar lost further ground after the weaker than expected US GDP. USD/JPY is testing the key ...
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SunBirdFX Daily Market Analysis : 04/30/2012
www.sunbirdfx.com
The US stock markets closed a strong trading week and the indices are on the safe way to the annual picks. All of the three main indices made the bullish reversal pattern, as the S&P 500 crossed above the important level of 1400 points and it is just 20 points away from 2012's high. The main reason for this strong rally is the fact that most of the S&P 500 companies bit Wall Street expectations and literally blocked the sharp declines that occurred on the beginning of the month. However, the results season is not over yet and therefore disappointing results or extreme bad economic data might have the ability to pull the stock markets down.
EUR/USD
The rising of the US indices ruined the USD's plans for starting a strengthening session against the major currencies. We ...
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