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Added More Fuel To EuropeanTitle:
Global stocks rebound from year's lows, euro dips
(Reuters) - Global stocks rebounded from their lows for the year on Monday as world leaders emphasized their support for economic growth in the euro zone, but the euro dipped on persistent concerns that Greece could leave the bloc.
Many investors and analysts see the pause in selling of stocks and other risky assets as temporary, given the uncertainties ahead for Greece, which holds national elections on June 17.
On Saturday, leaders of the Group of Eight nations stressed that their "imperative is to promote growth and jobs" for the euro zone and expressed support for Greece to stay in the euro.
Despite calls from the United States for immediate moves to boost growth, no sign emerged that Germany would soften its stance on austerity as the cure for Europe's debt problems.
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Global stocks rise from year's lows, euro dips
(Reuters) - Global stocks rose on Monday from their lows for the year as world leaders voiced support for economic growth in the euro zone and China, but the euro dipped on persistent concerns that Greece could leave the bloc.
Many investors and analysts reckon the pause in selling stocks and other risky assets as temporary, given the uncertainties ahead for Greece, which holds national elections on June 17.
On Saturday, leaders of the Group of Eight nations stressed that their "imperative is to promote growth and jobs" for the euro zone and expressed support for Greece to stay in the euro.
But despite calls from the United States for immediate moves to boost growth, no sign emerged that Germany would soften its stance on austerity as the cure for Europe's debt problems.
"More ...
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Asian Stocks Advance On China's Call For Stronger Growth But Sentiment Still Fragile
After China's premier called for additional efforts to support growth, Thailand's economy grew firmly in Q1 and world leaders urged Greece to stay in the euro zone, Asian stocks recovered some of last week's losses, the yen slid while commodities gained.
The MSCI Asia Pacific Index added 0.5% at 12:56 in Tokyo as worries eased on believes China and Japan may take steps to support growth, while world leaders called for Europe to balance austerity with growth during the G-8 summit.
China's Premier Wen Jiabao said over the weekend that his country must adopt a “proactive fiscal policy and a prudent monetary policy” to support growth, spurring speculations of additional stimulus since inflation is moderating.
Meanwhile, Japan is expected to ease its monetary policies even more during BoJ's ...
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Gold rises 1 percent, eyes weekly gain, as euro recovers
Gold prices rose more than 1 percent on Friday, building on the previous session's hefty gains, as a recovery in the euro prompted some buying of the precious metal, with shorts covering amid expectations prices could rise further.
Gold posted its biggest one-day gain since January 25 on Thursday, recovering some ground lost during its longest run of losses in five months. Its reversal has put it on track to end the week 0.4 percent higher.
Spot gold was up 1 percent at $1,589.16 an ounce at 1148 GMT, having earlier touched a high of $1,594.10, while U.S. gold futures for June delivery were up $14.40 an ounce at $1,589.30.
The euro recovered from a four-month lows against the dollar to move into positive territory, taking some pressure off gold, though concerns over a Greek euro exit ...
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Global shares, euro hit as political risks pile up
Uncertainty over the impact of a potential Greek exit from the euro on the debt-laden 17-nation currency bloc drove a rush to safety by investors on Monday, sending the single currency to near four month lows and European shares down 1.5 percent.
Problematic negotiations on forming a new Greek government have increased the chances it will be unable to meet the conditions of its bailout deal, and a worsening fiscal position in Spain has added to the sense of crisis facing the region.
The list of political risks facing the euro area grew on Sunday when German Chancellor Angela Merkel's conservatives suffered a crushing defeat in an election in Germany's most populous state.
"Selling rallies in risk assets seems the best way to make money in most asset classes given the event risk is still ...
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Brent slips towards $111 on euro zone worries
Brent crude slipped towards $111 on Monday, continuing to drop for a third straight session, after talks to form a new government in Greece failed, deepening the euro zone crisis and cutting fuel demand further.
Investors were cautious as a repeat Greek election will be needed if politicians cannot reach a compromise, pushing the debt-laden country closer to bankruptcy and likely driving oil prices southwards.
Brent crude had fallen 46 cents to $111.80 a barrel by 23:00 EDT (0300 GMT) after settling at $112.26 on Friday, its second straight weekly loss.
U.S. crude dropped 74 cents to $95.39, after earlier declining to a low of $95.17.
"The path of least resistance for oil is down, on sentiment on the euro zone and weak data from China on Friday," said Ben Le Brun, market analyst at ...
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Saudi says $100 per barrel great price for oil
Top crude exporter Saudi Arabia wants an oil price of around $100 a barrel and would like to see global inventories rise before demand picks up in the second half of the year, Oil Minister Ali al-Naimi said on Sunday.
International Brent crude settled at $112.26 on Friday, well off a peak of over $128 in March. Brent has mostly traded above $100 since early 2011, keeping fuel costs high and threatening to damage a fragile global economy.
"We want a price around $100, that's what we want," Naimi told reporters ahead of an industry event in Australia. "A $100 price is great."
Saudi Arabia is working at bringing Brent crude prices to that level, he added. The kingdom, OPEC's biggest producer, said it pumped 10.1 million bpd in April, its highest for more than 30 years, as it bid to meet ...
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Dukascopy Afternoon Forex Overview : 04/11/2012
Dukascopy Fundamental Analysis
EUR
European stocks declined as company earnings missed estimates, talks on forming a Greek government entered a fifth day and JPMorgan Chase & Co. posted a $2 billion trading loss. Asian shares and U.S. futures fell.
USD
Wholesale prices in the U.S. fell in April for the first time in four months, led by a decline in fuel costs that signals inflation may cool. The producer price index dropped 0.2 percent after no change in March, Labor Department figures showed today in Washington.
GBP
Britons turned gloomier last month as a slump in construction pointed to an even deeper recession and producers ramped up prices, highlighting the long and difficult road back to economic health.
CHF
Swiss stocks fell for the seventh day, heading for the biggest weekly ...
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Volatility Extends in Markets after the European Commission Fresh Forecasts
The European Commission supported volatility to extend in the market amid the current deteriorating sentiment in the market, where the Commission revised growth forecast lower for the euro-area region adding concerns the current austerity-linked solution is weighing sharply on growth, forcing more pressures on lawmakers to find another way around to hammer that debt crisis as well as boosting growth, but without adopting further austerity.
The critical economic situation in Europe is worsening and getting more complicated, where lawmakers cannot find a way to fight the debt crisis without affecting growth aspects, where the sharp austerity adopted across Europe has brought a technical recession confirmed in most of the nations in the euro zone, fueling the debt crisis to expand further ...
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