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AfternoonTitle:
Euro leaps to eight-week peak vs dollar on Greece deal optimism
(Reuters) - The euro rallied across the board on Tuesday, hitting an eight-week high against the dollar on optimism that Greece is about to agree on a bailout deal that will enable it to avoid a messy default.
A Greek official's statement suggested that the Greek government has completed negotiations with lenders on its 130 billion-euro rescue package, although agreeing to the painful austerity measures that come with the bailout could be a challenge.
Greek political leaders had balked at the ...
Title:
Dukascopy Afternoon Forex Overview : 07/02/2012
Fundamental Analysis
EUR
17-nation currency slipped against most of its peers before Greece's PM Papademos meets with politicians from three leading parties as officials still cannot agree on debt reduction plan. The meeting scheduled on Tuesday. Greece representatives and creditors still have to agree on EUR 600 million of fiscal measures for this year. Euro declined 0.2% to USD 1.3109 in London trade. Currently EUR/USD is trading at USD 1.3116.
USD
US President Obama ordered to freeze all ...
Title:
Greece wrangling tempers market momentum; RBA holds rates
(Reuters) - Greek resistance to the strict conditions attached to a bailout fund on Tuesday sapped recent momentum in markets spurred by hopes the global economy is improving, and the euro fell on renewed fears of a messy debt default.
The Australian dollar leapt to a six-month high but stocks turned negative after the central bank held rates steady at a review when markets had positioned for a rate cut.
Opinions were divided over whether the wrangling over Greece's debt restructuring talks ...
Title:
Global stocks, euro stall on Greece concerns
(Reuters) - Concern Greece might not accept the terms of a proposed new bailout deal brought a rally in global shares to a halt on Monday, while the euro pared earlier losses as some shorts covered their bets.
U.S. stocks edged lower, tracking European equities, while a gauge of global shares hovered near break even after four straight sessions of gains. Declines were not enough to derail an uptrend of five consecutive weeks of gains on both the U.S. benchmark S&P 500 index and global stocks ...
Title:
Dukascopy Afternoon Forex Overview : 06/02/2012
Fundamental Analysis
EUR
17-nation currency declined against most of its counterparts on Monday Asian trade as investors awaited Greek officials' response to international creditor requirements. The Euro dropped 0.6% against greenback to USD 1.3085 and lost 0.3% against Japanese Yen, reaching JPY 100.46. Currently EUR/USD is trading at USD 1.3070 and EUR/JPY is trading at JPY 100.30.
USD
Bank of America, JP Morgan Chase &Co and Well Fargo & Co was sued over use of property loan database by ...
Title:
Forex - Aid Talks Stall in Athens
Forex News and Events:
High yielding currencies continued to outperform as the developed nations central banks have all committed to a sustained period of ultra-loose monetary policy (unlimited free liquidity) and the contraction of volatility has put the carry trade back on the map. As with the crowded dividend trading in the equity markets, we suspect that growth projections in many of these nations have already been priced in. So the kicker at this point will only be the interest rate ...
Title:
Greece approaches deadline today, euro weaker
Morning Briefing : Greece approaches deadline today, euro weaker
What's new:
Asia: Major equities seem mixed after a positive US close and doubts over Greece this morning
Greece: Coalition Parties face troika imposed deadline
United States: Stronger than expected Payrolls data last Friday
Australia: Softer retails sales data point towards rate cut as early as tomorrow
Forex rates in Asia and Indices:
EURUSD: 1.3131– 1.3053.
USDCHF: 0.9234 – 0.9190.
GBPUSD: 1.5822 - 1.5765.
EURJPY: 100.54 – 100. ...
Title:
Focus of Greek response
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
The euro suffered overnight as fears over the situation in Greece have resurfaced. While the market is hoping for a clinching of a debt swap deal today with private sector creditors, securing cross-party support for further austerity measures and securing further funding from the troika is proving far more difficult. According to political leaders in Athens, the main parties have until noon today (local time) to respond to the troika’s demands, ...
Title:
Better Data Drives Risk On, Fed QE3 Off
The Week Ahead
Highlights
Better data drives risk on, Fed QE3 off
Still waiting on a Greek debt deal
Central banks' decisions on tap
Better data drives risk on, Fed QE3 off
The past week ended with a string of better-than-expected data releases from key major economies, suggesting the global recovery may avoid a more worrisome downturn. Mostly better than expected PMI's from Europe, UK, China and the US were supplemented on Friday by a much stronger US employment report than was ...
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