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Dukascopy Morning Forex Overview : 11/04/2012
Fundamental Analysis
EUR
"There are growing fears that the Spanish economy is caught in a pernicious circle"
- Nicholas Spiro, managing director of Spiro Sovereign Strategy
Spain’s efforts to calm investors with 10 billion euros in savings on education and health spending failed to stem concerns the nation may need additional capital if the economy weakens more than expected.
USD
"Europe is a temporary concern. The market is signaling they haven’t fixed the whole problem"
- James Swanson, chief investment strategist at MFS Investment Management
U.S. stocks extended losses on Tuesday as Spain’s plan for more austerity failed to halt drop in bond prices.
GBP
"We now know that there will not be any new money printing and the rally in European equities appears to be over"
- Stewart ...
Title:
Getting defensive before earnings season
(Reuters) - The market rally that few expected in the first place may finally be slowing down.
The benchmark Standard & Poor's 500 index jumped 11 percent in the first three months of 2012. Some of the worst performing investments of 2011 led the market's march higher. Financial companies gained nearly 20 percent over the first quarter. The Russell 2000 index of smaller companies rose 10 percent.
But few analysts are predicting that these gains will continue. That is in large part because the earnings season that begins Tuesday when Alcoa reports after the bell is expected to be lackluster.
Earnings of the companies in the S&P 500 index are expected to grow 3.2 percent in the first quarter of 2012 compared to 9.2 percent earnings growth in the final quarter of 2011, according to Thomson ...
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Dukascopy Afternnon Forex Overview : 10/04/2012
Fundamental Analysis
EUR
Spanish banks are likely to need additional funds as economic state of the country has continued to deteriorate, announced Miguel Angel Fernandez Ordonez from bank of Spain. Spanish banks are facing next round of increase in bad loans as country enters the second wave of crisis in the last three years. Experts predict Spain to apply for a new bailout in the nearest future.
USD
US wholesalers outperformed their sale forecasts in February, as they tried to keep up with the growing demand. Wholesale inventories rose 0.9% - slightly higher than the 0.5% forecast. The Sales grew by 1.2%, unchanged from January.
GBP
Bank of England reported that recent monetary policy easing by the ECB is not expected to improve the labour market in the region. The rate of ...
Title:
Dukascopy Morning Forex Overview : 10/04/2012
Fundamental Analysis
EUR
"...markets have been overoptimistic after the extra liquidity provided by (the European Central Bank). We will see stocks moving lower"
- Christian Tegllund Blaabjerg, chief economist at FIH Erhvervsbank
Shares closed mixed on Thursday. The Stoxx Europe 600 Index gained 0.12 per cent to 259.07. Germany's DAX Index retreated 0.13 per cent and France's CAC 40 Index gained 0.19 per cent. The U.K.'s FTSE 100 Index rose 0.35 per cent to 5,723.67.
USD
"The economy does continue to grow, but slowly"
- John Carey, a fund manager at Pioneer Investments
U.S. stocks fell on Monday after a report showed the U.S. economy added less jobs than expected.
GBP
"Negative sentiment turned positive as Spanish bond yields retreated following an earlier spike"
- Angus Campbell, the ...
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Dukascopy Morning Forex Overview : 09/04/2012
Fundamental Analysis
EUR
"Equity markets ended the first quarter well"
- Simon Denham, managing director of Capital Spreads
The Stoxx Europe 600 Index gained 0.12 per cent to 259.07. Germany's DAX Index retreated 0.13 per cent and France's CAC 40 Index gained 0.19 per cent. The U.K.'s FTSE 100 Index rose 0.35 per cent to 5,723.67.
USD
"You’re going to see a slowing in the pace of job growth"
- Neil Dutta, an economist at Bank of America Corp.
The number of Americans, who have found a job in in March, fell to 120 thousand from 240 thousand the previous month, the Bureau of Labor Statistics said on Friday. Unemployment slid to 8.2 per cent, the lowest in three years, from 8.3 per cent.
GBP
"If I were on the MPC, I'd be more worried about whether inflation is coming back (down) as ...
Title:
USD recovers lost ground
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
WORLD
The dollar had a surprise recovery overnight, and quickly reclaimed all ground lost to the euro after Friday’s weak US payrolls. However, flows were light as New Zealand, Australia, and Hong Kong remained closed. A stronger-than-expected China CPI failed to generate much interest, and allowed AUDUSD to take the news largely in its stride. Our core bullish dollar view is unchanged; we still expect the Fed to gradually back away from QE3 as other major central banks maintain an easier bias, likely ensuring outperformance of the US dollar over other majors this year.
Our analysts stress that the soft 120k US nonfarm payrolls print for March reflected ‘payback’ due to weather effects rather than fundamental weakening, with the earlier weather- ...
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Dukascopy Afternnon Forex Overview : 06/04/2012
Fundamental Analysis
EUR
European stocks fluctuated between gains and losses on Thursday as region's debt worries were partly offset by small improvement in Wall Street. Stoxx Europe 600 index added 0.1%, Italian FTSE MIB index slipped 0.2% while Spanish IBEX 35 traded flat. UK FTSE 100 index advanced 0.4% whereas German DAX lost 0.1%. French CAC 40 index improved 0.2%.
USD
The US applications for jobless benefits dropped less than predicted for the week ended in March 31, Labor Department reported on Thursday. According to data 357 000 people submitted new claims last week. Economists earlier predicted the number of applications to reach 355 000. The US unemployment level was 8.3% in February.
GBP
UK manufacturing fell for the second consecutive month in February, signalling the ...
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Dukascopy Morning Forex Overview : 06/04/2012
Fundamental Analysis
EUR
"Spain is facing an economic situation of extreme difficulty"
- Mariano Rajoy, Prime Minister of Spain
Demand for Spain’s debt tumbled on Wednesday and the nation only sold 2.59 billion euros of bonds, just above the minimum amount it planned. The average yield on five-year bonds rose to 4.319 percent from 3.376 percent the previous month.
USD
"Demand for Spain’s debt tumbled on Wednesday and the nation only sold 2.59 billion euros of bonds, just above the minimum amount it planned. The average yield on five-year bonds rose to 4.319 percent from 3.376 percent the previous month"
- Ryan Sweet, a senior economist at Moody’s Analytics Inc.
The number of Americans claiming for unemployment benefits declined slightly to 357 thousand in the week ended March 31 from ...
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Dukascopy Afternnon Forex Overview : 04/05/2012
Dukascopy Fundamental Analysis
EUR
Spain, the euro region’s fourth-largest economy, is in “extreme difficulty,” Rajoy said yesterday, raising the likelihood of a bailout for the second time this week. The Ibex stock index slid 0.7 percent in Madrid today. The benchmark Stoxx Europe 600 Index extended its biggest retreat in four weeks and the MSCI Emerging Markets Index slipped 0.3 percent to 1,034.65 as of 3:14 p.m. in Madrid.
USD
Ben S. Bernanke’s Federal Reserve signaled this week it isn’t ready to buy more bonds to stimulate the economy. Mortgage investors aren’t convinced. Stocks, commodities and bonds declined after the statement, which showed certain members support easing only “if the economy lost momentum.” Treasuries and mortgage securities pared losses yesterday with some ...
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