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Afternoon Forex OverviewTitle:
Dukascopy Afternoon Forex Overview: 10/03/2011
Fundamental market overview
EUR
In respect of German Unity day, 3 of October was a bank holiday in Germany. Final Manufacturing PMI of Eurozone was at 48.5 points in September, slightly outperforming forecasted result of 48.4 points. If PMI reading is above 50.0 points, it indicates expansion, and below 50.0 indicates contraction.
USD
Institute for Supply management presented a US PMI report today, and the reading for September stands at 51.6 points, outperforming consensus prediction of 50.5 points. ISM Manufacturing price index increased to 56.0 points, demonstrating an increase in prices.
JPY
Both Tanken manufacturing and non-manufacturing indexes for Q3 were released today. Large Japanese manufacturing companies believe that conditions are improving, and the consensus mark for ...
Title:
Dukascopy Afternoon Forex Overview: 09/30/2011
Expert commentary
"Rating labels, such as "investment grade" and "junk", matter for asset prices beyond the ratings' informational content"
- Norman Schürhoff, Professor at University of Lausanne
"The data basis and methods for determining a rating must be simplified and become more transparent"
- Christian Ewerhart, Professor at University of Zurich
In light of the recent massive sovereign countries' and banks' rating downgrades, Dukascopy TV has interviewed and asked opinions on the role and importance of rating agencies of two experts -Prof. Dr Norman Schürhoff, Professor of Finance at University of Lausanne, Senior Chair at Swiss Finance Institute and Research Affiliate at the Center for Economic Policy Research (CEPR) and Prof. Dr Christian Ewerhart, Chair for Information ...
Title:
Dukascopy Afternoon Forex Overview: 29/09/2011
Previous session overview
EUR
Number of unemployed Germans decreased by 26K last month, Destatis reports. Experts had forecasted a 9K decline - similar to July data.
USD
Last week only 391K Americans filed claims for unemployment benefits, despite a pessimistic forecast of 420K. Last week the indicator slashed against the week before by 37K (from 428K), and this can be considered as a positive sign for US job market.
JPY
BoJ Governor Masaaki Shirakawa claimed that Japanese bank system is healthy, and justified yen's strength with global trust in Japanese currency. Japanese yearly retail sales slid 2.6% in August after a positive 0.6% reading in July. Experts had forecasted this consumer spending gauge to decrease by only 0.6% y/y. Final GDP q/q increased 1.3% in Q4, 2010 - Bureau of ...
Title:
Dukascopy Afternoon Forex Overview : 28/09/2011
Fundamental market overview
EUR
Preliminary German CPI (m/m) data for September was released today by Destatis at 0.1% m/m after August reading of 0.0% (revised from -0.1%). German import prices decreased by 0.7% in August after af 0.8% increase in July.
USD
August Core durable goods orders declined 0.1% in line with expectations, Consensus bureau reports. Durable goods including transportation also declined 0.1% in August after a jump of 4.1% in July.
JPY
Nikkei 225 experienced a measly volatility today, closing at 8615.65, up by 5.70 points or 0.07%. Experts mainly explain this with uncertainty over Euro-zone debt crisis.
CHF
SNB official rate for EURCHF is at CHF 1.2214 today. 3-month LIBOT CHF has slightly increased to 0.02%, and is still within SNB's target range of 0.00-0.25%. ...
Title:
Dukascopy Afternoon Forex Overview : 27/09/2011
Fundamental market overview
EUR
GfK German Consumer Climate in September remained at August level of 5.2 points despite a slightly pessimistic forecast of 5.1 points. Private loans issued to consumers and private businesses increased 2.6% in August, higher than both - expert forecasts (2.5%) and July reading (2.4%).
USD
The Conference Board Inc. released US consumer confidence data today, and the indicator increased to 45.4 points in September - higher than August reading of 45.2 (revised from 44.5). The actual data was slightly lower than forecast of 46.2.
JPY
Japanese yearly CSPI, indicating goods and services acquired by corporations, decreased by 0.4% - in line with economists' forecasts. July reading was revised to -0.3. Today Nikkei 225 gained 235.82 points or 2.82% today, ...
Title:
Dukascopy Afternoon Forex Overview : 26/09/2011
Fundamental market overview
EUR
German Ifo Business Climate for September stands at 107.5 points, slightly higher than consensus expectations of 107.0 points. Business climate was higher in August at 108.7 points. Next week Euro-zone officials are likely to discuss restarting purchases of covered bonds amid other measures in order to boost growth of Euro-region economies.
USD
New home sales slowed in August to 295K after July's 298K. Experts had projected a volume of 296K. Investors truly appreciate performance of long term Treasury bonds, which are showing their best performance since 1995. Bankers claim they cannot afford not to have bonds in their portfolios.
JPY
Investors and recruiters from other Asian countries - China, Vietnam, Burma and others - are invading Japan and offering ...
Title:
Dukascopy Afternoon Forex Overview : 23/09/2011
Fundamental market overview
EUR
Italian retail sales slid to -0.1% in July, regardless of a 0.3% forecasted growth, after a 0.3% slide in June. National Bank of Belgium business climate indicator for September shows worsening economic conditions with a mark -9.4 points after a -8.9 point forecast.
USD
Today Dow Jones Industrial Average is moving towards steepest weekly drop since 2008, mainly due to officials being unable to reassure investors on their control over US economy. Currently Dow has lost 391.01 points or 3.51%, and now stands at 10 773.83 points.
JPY
September 23 was a bank holiday in Japan. Japanese and Chinese officials warned on limited aid for Europe, highlighting it must tackle its own financial problems.
CHF
In quarterly bulletin, SNB announced they expect halt of ...
Title:
Dukascopy Afternoon Forex Overview : 22/09/2011
Fundamental market overview
EUR
Euro-zone flash PMI data for September was released today by Markit. Both manufacturing and services PMI were lower than forecasted, at 48.4 and 49.1 respectively. Industrial new orders declined by 2.1% in June-July, creating a steeper decline than expected (-1.1%).
USD
Unemployment claims declined to 423 thousand last week in comparison with 432 thousand the week before. Experts had forecasted a smaller number of jobless claims - 419 thousand. CB Leading index increased by 0.3% in August, exceeding forecasts of 0.2% augmentation.
JPY
BoJ announced average interest rates for deposits today: 1M 0.028%, 1Y 0.038%, 3Y 0.073%, 10Y 0.270% for deposits over 10 million yen. NIKKEI 225 slashed 180.90 points or 2.07% today, down to 8560.26 points.
CHF
ZEW ...
Title:
Dukascopy Afternoon Forex Overview : 21/09/2011
Fundamental market overview
EUR
IMF is calling for additional capital injections into European banks, as European sovereign debt crisis might have created up to EUR 300 M credit risks for them. IMF indicated some of banks needed to raise capital in order to revive both depositor and investor confidence.
USD
Existing home sales jumped to USD 5.03M in August, higher than expectations of USD 4.76M after USD 4.67M in July. Existing home sale data eased investor optimism on US housing after weak housing starts data released yesterday.
JPY
Japanese trade balance in August slashed to JPY -0.29T from JPY -0.16T in July, and disappointed investors who had expected a reading of JPY -0.1T. Japan's all industries activity in July increased by 0.4%, lower than experts' expectations of 0.9%.
CHF
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