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Analysis: Obama oil margin plan could increase price swings
(Reuters) - U.S. President Barack Obama's bid to dampen the influence of oil speculators by having regulators set trading margins could backfire, potentially making prices even more volatile and leaving crude dominated only by those with the deepest pockets.
Under Obama's request to Congress, the Commodity Futures Trading Commission (CFTC) would determine how much speculators need to pay to trade U.S. crude oil futures, in theory increasing the amount when prices move too far, too fast.
But economists and traders cautioned that pushing smaller investors out of markets would only hand greater influence to the largest hedge funds and Wall Street banks. Ultimately, there may not be enough traders left to do business with oil producers and consumers looking to hedge their needs.
"Reduced ...
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EUR Tumbles Ahead of Spanish Debt Auction
The euro turned bearish against virtually all of its main currency rivals yesterday, as risk aversion returned to the marketplace ahead of today's Spanish debt auction. Additionally, a positive UK Claimant Count Change figure led to a steep drop for the EUR/GBP. Today, in addition to the Spanish news, traders will want to monitor a batch of US news, including the Unemployment Claims and Existing Home Sales figures. Should any of the American news come in above expectations, the US dollar could see gains as a result.
Economic News
USD - US Existing Home Sales May Lead to Dollar Gains
The combination of worries regarding euro-zone debt and the Japanese trade deficit caused investors to shift their funds to the greenback during yesterday's trading session. The EUR/USD dropped close to 70 ...
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Positive German Data Helps Euro
The euro staged a broad recovery during yesterday's trading session, as the combination of a positive German ZEW Economic Sentiment and smooth Spanish debt auction generated risk taking in the marketplace. Turning to today, traders will want to pay attention to the British Claimant Count Change, scheduled for 08:30 GMT. The report is the official unemployment statistic for the UK and has been known to generate market volatility. Should the figure come in higher than forecasted, risk aversion may return to the market place.
Economic News
USD - Dollar Turns Bearish vs. Riskier Currencies
A batch of positive international news releases yesterday led to US dollar losses as investors shifted their funds to riskier assets. A better than expected German ZEW Economic Sentiment and Spanish debt ...
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EUR Tumbles vs. Main Currency Rivals
The euro extended its bearish trend against virtually all of its main currency rivals during yesterday's trading session, as investor fears regarding Spanish debt led to risk aversion in the marketplace. Turning to today, traders will want to pay attention to a batch of news out of both the US and euro-zone. Specifically, the German ZEW Economic Sentiment and US Building Permits figures, scheduled for 9:00 and 12:30 GMT respectively, are expected to generate volatility. Positive German news may help the euro recoup some of its recent losses.
Economic News
USD - Dollar Continues to Fall against Safe-Haven Currencies
The US dollar fell vs. its safe-haven currency rivals yesterday, including the Japanese yen, as investors continued to flee riskier assets amid poor international news. ...
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Euro edges down ahead of Spanish bond auction
(Reuters) - The euro lost some ground on Tuesday, a day after short-covering helped it pull away from two-month lows against the dollar, and remained vulnerable ahead of a Spanish bond auction as euro zone debt jitters showed no signs of abating.
Spain is set to see its borrowing costs leap when it sells short-term bonds after concerns over its deficit and banking sector pushed longer term risk premiums above 6 percent and drove the cost of insuring its debt to a record high.
The developments fuelled concerns Madrid might fail to meet deficit targets as the country acknowledged it has probably tipped into its second recession since 2009. That would raise the risk of it being pushed into seeking an international bailout.
The common currency shed 0.2 percent to $1.3110, having ...
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Spanish Debt Worries Cause Euro to Tumble
Investor concerns regarding Spanish debt led to an increase in risk aversion on Friday, and caused the euro to tumble vs. its main currency rivals. Furthermore, news that the Chinese economy grew at a slower than expected rate last quarter resulted in safe-haven assets, including the US dollar and Japanese yen, turning bullish. Turning to this week, traders can expect market volatility as significant news from both the euro-zone and US is scheduled to be released. Today, US retails sales data may help the dollar extend its current upward momentum, should it come in at or above expectations.
Economic News
USD - Risk Aversion Leads to Dollar Gains
The US dollar turned bullish vs. most of its main currency rivals on Friday following poor euro-zone news which led to an increase in risk ...
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Euro Hits 1-Week High vs. USD
The euro rose to a one-week high against the US dollar during yesterday's trading session, as positive international fundamental data led to an increase in risk taking. Analysts are warning that overall market sentiment is still bearish toward the euro, and any gains made by the currency may be short lived. Today, traders will want to pay attention to data out of the US, including the Core CPI and Prelim UoM Consumer Sentiment figures. With both indicators forecasted to come in above last month's, the greenback could see gains to close out the week.
Economic News
USD - Dollar Continues to Fall vs. Riskier Currencies
The US dollar extended its recent bearish trend during yesterday's trading session, as positive data out of Australia and China led to an increase in risk taking. The EUR/ ...
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EUR Stages Slight Recovery, US Data Set for Today
The euro saw mild upward movement during yesterday's trading session, as gains in stocks drove investors toward riskier assets. That being said, analysts are warning that debt worries in Spain and Portugal still have the potential to negatively impact the common currency in the coming days. Today, a batch of US fundamental data is forecasted to generate market volatility. Traders will want to pay attention to this week's Unemployment Claims as well as the Trade Balance and PPI figures, all scheduled for 12:30 GMT. Positive news may help the USD recoup some of its recent losses.
Economic News
USD - Dollar Extends Losses vs. Riskier Currencies
The US dollar extended losses against its riskier currency rivals during yesterday's session, including the euro and British pound. The EUR/USD was ...
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Oil rebounds on fuel stocks data, gold slips
(Reuters) - Oil markets rebounded from two days of losses on Wednesday as U.S. government data showed a steeper-than-expected drop in domestic fuel stocks, while gold dipped after a four-session rally and copper steadied near a three-month low.
Cotton climbed nearly 2 percent in a short-covering rally a day after the U.S. government forecast record-high global cotton stocks, and cocoa and coffee rose in reaction to a strong earthquake off Indonesia that triggered tsunami warnings in the world's No. 3 coffee producer.
Grains were modestly higher, helped by a weaker dollar and worries about cold weather in the U.S. wheat belt, and soybeans eased for a third straight day as investors cashed in long positions after prices hit a seven-month peak a day earlier.
The 19-commodity Thomson ...
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