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Afternoon Forex OverviewTitle:
Dukascopy Afternoon Forex Overview : 23/04/2012
Dukascopy Fundamental Analysis
EUR
Spain faced increasing borrowing costs during successful sale of bonds with two and ten-year maturity. The country's Treasury sold 1,116 billion Euros of two-year bonds at yield of 3.463% and 1,425 billion Euros in ten-year bonds with yield of 5.743%. Demand for Spain's debt was strong as bids surpassed demand 3.3 times.
USD
Stock index futures indicated a lower opening on today’s USA session on the EU concerns. Additionally, news from Wal-mart on a possible bribery case had negative influence on stock indices.
GBP
According to experts from zifx.com, following an extensive rally of GBP/USD, the currency pair is presently overgoing a bearish correction. While the initial support and resistance levels are situated at 1.6037 and 1.6154, respectively, ...
Title:
Dukascopy Afternoon Forex Overview : 20/04/2012
Fundamental Analysis
EUR
Spain faced increasing borrowing costs during successful sale of bonds with two and ten-year maturity. The country's Treasury sold 1,116 billion Euros of two-year bonds at yield of 3.463% and 1,425 billion Euros in ten-year bonds with yield of 5.743%. Demand for Spain's debt was strong as bids surpassed demand 3.3 times.
USD
The American session also gained from the higher-than-estimated German Ifo business climate reading released today. The increase in stocks was also accompanied by a gain in commodity prices and a decline of treasury yields.
GBP
British FTSE 100 index traded modestly higher on Friday as data showed UK retail sales rallied in March, reaching 1.8% growth instead of predicted 0.4% gain. IMI Plc jumped 1.8% after engineering group reported an ...
Title:
Dukascopy Afternoon Forex Overview : 19/04/2012
Fundamental Analysis
EUR
France and Spain plan to assemble EUR 13.5 billion (USD 17.6 billion) in bill auction today as Spanish PM Rajoy struggles to reduce budget deficit and presidential elections in the France drive yields up. France is issuing 2017 bills and 2018 inflation linked notes, a maximum target of EUR 11 billion while Spain is planning to raise EUR 2.5 billion in 2-year and 10-year bonds.
USD
The IMF announced that it has secured 320 billion US Dollars in drive for increasing the fund's lending capacity. Switzerland and Poland have already contributed to the fund expansion. The IMF hopes to raise about 400 billion US Dollars in commitments from countries around the world. The move followed surging borrowing costs of Italy and Spain that escalated concerns over the Euro ...
Title:
Dukascopy Afternoon Forex Overview : 18/04/2012
Fundamental Analysis
EUR
German DAX index fell on Wednesday after Spain reported its proportion of non-performing loans versus total lending rallied to 7.91% January, the highest figure since 1994 raising doubts about nation's ability prevent debt turmoil.
USD
The IMF expects the overall economic growth to accelerate this year as the Euro Zone started to show signs of recovery after severe debt crisis. Moreover, US economic performance also improved. The IMF predicted the global economy to grow by 3.5% in 2012 as compared to the previous expectation for a 3.3% expansion.
GBP
Despite unexpected drop in nation's unemployment, Brtish FTSE 100 index traded modestly lower on Wednesday weighed down by banking stocks as Adam Posen, policy maker at the Bank of England ended his support for ...
Title:
Dukascopy Afternoon Forex Overview : 17/04/2012
Fundamental Analysis
EUR
The 17-nation currency depreciated versus its US counterpart and Japanese currency ahead of Spanish debt sale on Tuesday. The Euro shed 0.2% versus US Dollar to USD 1.3110 and gave up also 0.2% against Yen to JPY 105.42. Currently EUR/USD is trading at USD 1.3110 and EUR/JPY is trading at JPY 105.41.
USD
China has raised its US debt holding for the second consecutive month as country's foreign exchange portion continued to advance. China purchased 12.7 billion US dollars of the US Treasuries in February thus boosting the debt holding to 1,178.9 billion US Dollars, according to the US Treasury Department. Chinese foreign exchange reserves gained 3.9% in Q1 on an annual basis.
GBP
FTSE 100 index rallied on Tuesday as Spanish successfully auctioned bonds and US ...
Title:
Dukascopy Afternoon Forex Overview : 02/03/2012
Dukascopy Fundamental Analysis
EUR
According to State data the number of unemployed in Spain increased to 4.7% million in February or by 112,269 from January. On yearly basis the unemployment level has surged by 412,835. With current monthly jobless rate of 23.3% Spain is maintaining the unemployment record high among 27 EU member countries.
USD
Dow Jones Industrial Average has lost 0.04% since opening, driven down by Travelers Cos Inc. with -1.35% and Coca Cola Co with -0.78%. Exxon and Chevron, major oil companies are losing 0.85% and 0.55% respectively on Saudi oil pipe speculation.
GBP
Barclays revealed that it borrowed EUR 8.2B from the ECB through central bank’s LTRO. Thus, Barclays has become the third bank after HSBC and Lloyds that had accepted the low-interest loan ...
Title:
Dukascopy Afternoon Forex Overview : 01/03/2012
Dukascopy Fundamental Analysis
EUR
The jobless rate in the Euro Area accelerated to 10.7% in January compared to 10.6% in December said Eurostat on Thursday. The released figure marks the highest unemployment rate in the region since the enforcement of common currency in 1999. The number of jobless in 17-country region climbed by 185 000 to 16.925 million.
USD
Market value of Apple Inc. approached 500 billion US Dollars for the first time, positioning Apple as the most valuable company in the world. Only such companies as Exxon, Microsoft, Cisco Systems, Intel and General Electric were capable to reach this level. Experts predict the company's profits to amount 40 billion US Dollars in 2012. The Apple's share closed at 542.44 US Dollars on the Nasdaq on Wednesday.
GBP
British ...
Title:
Dukascopy Afternoon Forex Overview : 29/02/2012
Dukascopy Fundamental Analysis
EUR
Greece's lawmakers approved EUR 3.2 billion (USD 4.3 billion) spending cuts for the year 2012 and took one step further to securing the bailout package and save country from default. 202 members of parliament voted in favour of budget cuts and 80 voted against. Today Greek parliament is set to agree on expenditure reduction in health care and reforms in pension funds demanded by IMF and EU.
USD
International Business Machines Corp. (IBM) fired approximately 1000 workers in its North America unit this week, said Advocacy group. The jobs cuts happened mostly in US while some of them were in Canada. Doug Shelton, New York based IBM spokesman, declined to name exact number of fired employees and claimed the job elimination is a part of company's policy in ...
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Dukascopy Afternoon Forex Overview : 28/02/2012
Dukascopy Fundamental Analysis
EUR
The European Central Bank’s willingness to ride roughshod over bondholder rights risks pushing up borrowing costs for indebted governments by making investors less willing to lend. The ECB swapped about 50 billion euros ($67 billion) of Greek bonds for new securities, identical to the old ones in every way save for identification numbers.
USD
The Conference Board's Consumer Confidence Index now stands at 70.8, up from a revised 61.5 in January, helped by consumers' improving assessment of the job market. Analysts had expected a reading of 63. The February reading marks the highest level since February 2011 when it was 72.0. The index is still far below the 90 that indicates a healthy economy.
GBP
U.K. 10-year (GUKG10) gilts rose for a sixth day after ...
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