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Again The Euro After MixedTitle:
Major pairs currently narrow trading
Today on a daily scale we watched on one hand the yen plunging in front of most of its conterparts after that it was speculated that the Bank of Japan will add stimulus this week to support the country`s growth while that on the other hand the euro gained prior losses against the dollar as the German Finance Minister announced that "everything necessary" will be done by France and Germany to keep Greece in the Union.
Yet so far some technical movements are taking place throughout the currencies market within the U.S session to accordingly watch the major pairs and currencies narrow trade and therefore the dollar index, which measures the dollar performance against a basket of currencies including the Euro, the Pound, and the Yen is actually consolidating on the four-hour and one-hour ...
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Euro Succeeds Short Squeeze
Sunrise Market Commentary
- Fixed Income: Global core bonds take a breather
- Investors remained mostly sidelined in an uneventful session on Friday. The G-8 meeting stressed the need for growth, besides fiscal consolidation and sees Greece staying inside EMU. This shouldn’t surprise markets today. With a razor thin calendar, trading might start the week in a lackluster mode.
- Currencies: Euro succeeds short squeeze
- On Friday, the decline of the euro halted and EUR/USD succeeded a cautious rebound, even as uncertainty on the EMU debt crisis persisted. Technical considerations will also dominate trading today as the G8 meeting provided no high profile measures to address the debt crisis.
The Sunrise Headlines
- US Equities rose for a second consecutive session on ...
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Weekly Economic and Financial Commentary : 19/05/2012
U.S. Review
To QE3 or Not To QE3: That is the Question
- Some market participants are beginning to speculate about another round of quantitative easing. Although recent growth indicators have not been particularly stellar, the economy is still growing. Moreover, core CPI inflation in the neighborhood of 2 percent means that the threshold for more QE is relatively high.
- Overall, indicators were positive during the week. Housing starts increased by 2.6 percent in April, the Empire Manufacturing index improved to 17.09 in May from a 6.56 print in April and retail sales printed a 0.1 percent increase in April, in line with expectations.
To QE3 or Not To QE3: That is the Question
QE3 seems to have more lives that a cat; it comes back into the forefront of the U.S. economy discussion ...
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Dukascopy Afternoon Forex Overview : 05/17/2012
Dukascopy Fundamental Analysis
EUR
Mario Draghi, the ECB President, insisted on Greece to stay in the Euro bloc during his public speech on Wednesday regarding the possibility of Greece withdrawal from the Eurozone. Nevertheless, according to him, the ECB will stick to its anti-inflation mandate. The ECB President's comments came after Irish and Belgian central banks reported that Greek exit would not be disastrous for the Eurozone.
USD
Jobless claims in the U.S. didn't live up to the expectations that it will decrease by 5K and remained unchanged, at 370K level, in the week from 6th to 12th of May. Amount of people on rolling unemployment claims increased by around 18K while the number of people on prolonged payments decreased by around 45K. 31 out of 52 states or territory's reported ...
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Aussie Mixed in Choppy Trading
Aussie is turning in a mixed performance today as choppy markets look for direction, and try to process all of the difficulties happening in the eurozone. On one hand, Aussie is lower against the US dollar as risk aversion makes an appearance. But, on the other, the Australia dollar is gaining against European currencies weighed down by difficulties.
Against the US dollar, the Australian dollar is losing ground. US dollar is considered a safe haven in times of economic turmoil, so it’s not much of a surprise that the greenback is in demand versus the Aussie. With concerns about bond yields in Spain and Italy, and worries that Greece will end up leaving the eurozone after its political difficulties are sorted, it’s not much of a surprise that many Forex traders seek safe haven in the US ...
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Dollar Approaching 2012 Highs
Dollar Approaching 2012 Highs
USD continues to trade mostly firmer against the major currencies as risk sentiment remains negative. European equities are trading in the red after the ECB paused lending to some Greek banks until they recapitalize and US stock futures are marginally lower at time of writing. The dollar index is nearing the highs of the year around 81.78 which occurred in mid-Jan and we would expect to see this level act as near term resistance as dollar longs may look to take profit. FOMC minutes released yesterday indicated that members expect the recovery to "gradually gain strength" however if it falters, easing may be needed. The UST yield curve is relatively flat today with 10-year yields currently unchanged. Weekly jobless claims were stable at 370k which was the same ...
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Gold pares losses after bear market test, Greece focus
Gold sank to a 2012 low on Wednesday before paring losses in choppy trade, as traders were torn between hope that France and Germany would work together to keep the Euro zone intact and new signs of stress in the Greek banking sector.
Bullion briefly crossed into bear market territory, down 20 percent from its record last September, as intensifying fears a Greek exit from the euro zone would worsen the debt crisis gripped financial markets earlier in the day.
Prices later recouped most of their losses following a meeting between new French President Francois Hollande and German Chancellor Angela Merkel at which they pledged to forge a joint approach for an EU summit next month. That eased concerns of a spat that could worsen the euro zone crisis.
During the U.S. session, gold prices ...
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Dukascopy Afternoon Forex Overview : 05/16/2012
Dukascopy Fundamental Analysis
EUR
Stoxx Europe 600 index have dropped for third consecutive day and reached the lowest level since the start of this year as specialists speculate that elections in Greece could take place as early as 10 of June. The index lost 0.5% of its value by noon in London and around 10% from its peak this year in mid-March.
USD
Facebook increases the share offering by 25% to 421.2M shares to collect near $16B. At the offering's price of $34-$38 per share Facebook is rushing towards the largest technology IPO in the history. Production of utilities, mines and factory's in the U.S. surpassed expected 0.6% level and increased by 1.1% in April.
GBP
The number of unemployed people for January-March decreased to 2.63 million, 45,000 down on the quarter, the Office for ...
Title:
Euro Sell-Off Accelerates As Greece Will Hold Now Elections
Sunrise Market Commentary
- Fixed Income: Fresh elections in Greece further support core bonds
- German bund came off the contract highs at the start of the session on better German Q1 GDP data. The move didn't last long however and the announcement of fresh Greek elections marked an intraday U-turn. This morning, the German Bund future and US Note future once again reach new contract highs.
- Currencies: euro sell-off accelerates as Greece will hold now elections.
- On Tuesday morning it looked temporary that the euro might enjoy some breathing space as the German Q1 growth was much stronger than expected. However, the rebound had no momentum at all. The euro was again hammered as talks on the formation of the Greek government collapsed. Is the euro heading for a free fall? ...
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