Agency The American Dollar

(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 ...

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 ...

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. Uncertainty in Greece, already shaken by the inability of politicians to form a government, pulled the euro to near a four-month low against the U.S. dollar while Wall Street dropped in choppy trading. ...

Fundamental Analysis EUR Spain's credit rating was lowered by Standard & Poor's for a second time in 2012 on enduring worries the nation will have to apply additional fiscal backing to lenders as the economy shrinks. S&P cut its long term grade for Spain from A to BBB+ adding a negative outlook. Country's short term rating was lowered from A-1 to A-2, S&P agency reported on Thursday. USD Crude oil price declined from almost 4-week high in New York trade after S&P ratings agency cut Spain's sovereign credit rating, boosting concerns that further recession in Europe may halt demand for crude. Oil to be delivered in June lost USD 0.61, reaching USD 103.94 a barrel. June Brent oil gave up USD 0.49 and traded at USD 119.43 a barrel. GBP Today the Great Britain Pound extended its gains ...

Strong corporate earnings drove most global equity markets higher on Tuesday while the euro rose after solid demand at auctions for European government debt eased concerns about the euro zone's growing economic slump. Yields on Dutch, Spanish and Italian debt fell as sales were well received, calming markets a day after the government in the Netherlands collapsed in a crisis over budget cuts. Data on the U.S. housing market also boosted optimism about the U.S. economic recovery and helped stoke risk appetite. Big U.S. manufacturers continued a wave of strong earnings growth, with results from United Technologies Corp (UTX.N), 3M Co (MMM.N), Illinois Tool Works (ITW.N) and Parker-Hannifin Corp (PH.N) topping Wall Street forecasts. Recovering U.S. demand helped offset the weak European ...

Global equities and the euro rose on Tuesday on strong corporate earnings, while solid demand at European government debt sales eased concerns about the euro zone's growing economic slump. Yields fell on government debt of the Netherlands and some southern European countries that have been at the heart of the debt crisis after the Netherlands sold bonds without problems, calming markets a day after the Dutch government collapsed in a crisis over budget cuts. Data on the housing market also raised optimism about the economic recovery and helped stoke risk appetite. Big manufacturers continued a wave of strong earnings growth, with United Technologies Corp (UTX.N), 3M Co (MMM.N), Illinois Tool Works (ITW.N) and Parker-Hannifin Corp (PH.N) posting results that topped Wall Street forecasts. ...

Fundamental Analysis EUR Euro Area officials are going to Washington this week in order to demand larger war chest from overseas partners to prevent debt crisis as Spanish government struggles with surging borrowing costs. US though insists Europe can tackle crisis by its own financial firewall while Euro Zone representatives claim they already have done enough and deserve global help. USD Temasek Holdings is preparing to buy a part of Goldman Sachs Group's stake of Industrial & Commercial Bank of China (ICBC). Goldman Sachs is going to sell 3.55 billion of ICBC shares valued at USD 2.5 billion or about 4% of total amount traded in Hong Kong. ICBC shares lost 0.8% in Hong Kong on the news. Temasek has been raising holdings in China Construction Bank and Bank of China. GBP UK managed ...

(Reuters) - Three weeks ago, President Barack Obama stood in front of a sea of gleaming solar panels in Boulder City, Nevada, to celebrate his administration's efforts to promote "green energy." Stretching row upon row into the desert, the Copper Mountain Solar Project not far from Las Vegas provided an impressive backdrop for the president. Built on public land, the facility is the largest of its kind in the United States. Its 1 million solar panels provide enough energy to power 17,000 homes. And it employs just 10 people. Three years after Obama launched a push to build a job-creating "green" economy, the White House can say that more than 1 million drafty homes have been retrofitted to lower heating and cooling costs, while energy generation from renewable sources such as wind and ...

Dukascopy Fundamental Analysis EUR BMW AG, German car maker will recall 120,246 cars in China due to the difficulties with the automobile's batteries, nation's quality control agency reported on Tuesday. The recollection of the Coupe, BMW 6 Series Convertible, BMW 6 Series and BMW 5 Series, vehicles produced between year 2003 and 2010 will begin in May 10. An installation problem of the batteries can create safety risks, quality control agency claimed. USD US businesses project slower pace of revenue growth in China in 2012 amid rising operation costs and worries over global stagnation, according to survey of American Chamber of Commerce. About 43% of the firms surveyed expect increase in sales to approach 11% this year as compared to a 15% increase in 2011. The major contributors to ...