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Against The American DollarTitle:
Japanese yen fell versus major currencies before BOJ’s meeting
Japan’s yen fell against major currencies with the beginning of the day, where investors are waiting this week’s BOJ’s meeting minutes which expected to contain another stimulus plans, which negatively on yen’s demand to feel against most of currencies.
From another side, the significant incline of Japanese yen against American dollar during the past three weeks increased pressure on BOJ to raise its financial programs that aims to support companies and compensate the recent massive incline.
USD/JPY pair inclined to record high of 79.24 during today’s Asian session, after recording low of 79.11 to be now at 79.04. Euro/JPY pair inclined also to the highest in two session recording high of 101.40 and low of 100.97.
AUD/USD pair slightly inclined in a correction trend after the massive ...
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Crude down, hits biggest 3-week loss since Aug '11
(Reuters) - Crude oil futures fell more than 1 percent on Friday, down for the sixth straight session, as worsening problems in Greece and Spain raised worries of contagion in the euro zone.
Oil futures fell on the drumbeat from global stock markets, which erased the year's gains as investors pared holdings for safe-haven assets such as gold, on growing concerns about the euro zone debt crisis.
On Wall Street, equities dipped after a messy opening-day trade for social networking darling Facebook (FB.O) failed to lift the spirits of investors. .N
U.S. gasoline futures bucked the day's trend in energy markets, gaining slightly after six days of losses and climbing above its 200-day moving average after falling below that level on Thursday for the first time since February.
Oil investors ...
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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 Morning Forex Overview : 05/18/2012
Fundamental Analysis
EUR
"Spain, once again, is where the confidence game is played"
- Sebastian Paris Horvitz, strategist at HSBC Private Bank Suisse
Spain sold the maximum targeted amount of debt, 2.5 billion euros, during yesterday’s auction with spiking borrowing costs. The interest rate of three-year bonds rose to 4.373% from April’s figure of 2.89% while interest rate of five-year bonds surged to 5.106% from 3.374 in March.
USD
"What we’re seeing in foreign-exchange markets is strong demand for the U.S. dollar"
- Steven Saywell, head of foreign-exchange strategy for Europe at BNP Paribas SA
Latest US initial unemployment claim data was released yesterday – 370 000 Americans demanded their jobless benefits last week versus a 368 000 consensus forecast. The Labor Department revised ...
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SunBirdFX Daily Market Analysis : 05/18/2012
www.sunbirdfx.com
The US stock markets keep falling as NASDAQ shed 2.1% yesterday and Dow is close to erase everything it gained since the beginning of the year. The investors will focus on Facebook, which will start trading today for the first time.
GBP/USD
The collapse of the stocks makes the investors to move their investments to the USD, as many believe that the American economy is the more stable than the European economies. Therefore, the USD is strengthening against most of the major currencies, which fall sharply because of that. The pound reached the target we set for the current bearish session at 1.58 and stochastic low levels indicate for a possible correction that might hit 1.59. Nevertheless, if the stocks continue falling, we will probably see additional break-down by the ...
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Loonie Drops On Speculation Of Worsening Turmoil In Europe
Loonie Drops On Speculation Of Worsening Turmoil In Europe
Tradervox (Dublin) - The Canadian dollar has weakened to its lowest last seen in January after the European central bank indicated that it is going to reduce its lending to some banks in Greece to reduce its risk. Investors have taken this to mean that Greece might lose its position in euro zone which has caused risk aversion.
Earlier, the loonie had erased some of the losses it had experienced against the dollar after economic data showed positive economic outlook for North American region lending support to sentiments that Bank of Canada might increase interest rates. However, the crisis in Europe has led to a decline in crude oil prices which is the biggest export commodity from Canada hence forcing the nation's currency to ...
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Oil down as equities dip on Greek, euro zone woes
Crude oil futures tumbled on Wednesday, coming under pressure with U.S. equities, as banking troubles in Greece further highlighted the euro zone debt crisis, sparking risk aversion across markets.
The European Central Bank confirmed a Reuters report that it has stopped providing refinancing to some Greek banks as they are severely undercapitalized, keeping oil and other commodity prices pinned down.
The ECB move had erased an uptick in oil prices in morning trading after U.S. data showed that domestic stockpiles rose much less than what an industry group reported late on Tuesday.
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Wall Street Goes Higher On Housing Starts, Industrial Production Data
Wall Street opened green higher on Wednesday, following the three-day slide for the Standard & Poor`s 500 Index, as better than expected housing starts and industrial production reignited optimism about the economy.
American equities rose at the opening following governmental reports that showed output at manufacturing, mines and utilities increased 1.1 percent in April. Homebuilders broke the ground on more homes than forecast in the same period.
Housing starts rose 2.6 percent to a 717 thousand annual rate last month, the Commerce Department reported early morning. Analysts called for a median annual rate of 685 thousand. Building permits fell to 715 thousand in the same period.
Sentiments went somehow neutral with ongoing political crisis in Greece and speculation the nation will ...
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Oil falls on euro zone, WTI at six-month low
Oil prices slid with world shares and the euro on Wednesday as investors fled from riskier assets, while a surprise build in U.S. crude inventories helped send the WTI benchmark to a more than six-month low.
The possibility a political crisis in Greece may force the country's exit from the euro zone and send the region into deeper financial turmoil is fanning concerns about a slowdown in global demand for oil.
"One element contributing to the decline in oil prices is general investor risk aversion stemming from euro zone concerns and an increased risk of a general economic slowdown," said Gareth Lewis-Davies, a senior energy strategist at BNP Paribas.
It has also helped send the euro to a four-month low against the dollar, another factor weighing on oil prices on Wednesday.
"Another is ...
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