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Although The Dollar Has ParedTitle:
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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Consolidation Continues Post The Spanish Bond Auction
Consolidation Continues Post The Spanish Bond Auction
The big event of the morning was the Spanish bond auction, however it failed to generate anything more than an immediate ripple in the FX market. The auction raised just below the top of its target amount of EU2.5bn, at EU 2.49bn. Although demand was strong, Madrid had to pay up to attract investors to its debt. The yield on the 2015 debt it sold jumped to 4.375% vs. 2.89% at an auction in April, the 2016 debt sold with a yield of 4.876% vs. 4.037% at an auction earlier this month.
Will Germany soften its stance?
In the aftermath, EURUSD is down about 20 pips but it remains above 1.27, while Spanish bond yields have actually fallen. The consolidation period in the market may continue as we lead up to the G8 summit in the US this ...
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Euro zone fears pressure global shares, euro steadies
The euro hovered near four-month lows and European shares extended their losing streak on Thursday, as investors avoided riskier assets due to the deepening turmoil in Greece and fears of contagion spreading to other stressed euro zone economies.
News that some Greek banks face emergency funding needs dealt a further blow to risk sentiment, already beaten down by worries about slower economic growth in China, a fragile U.S. jobs market and a shock trading loss at JPMorgan Chase (JPM.N).
But the downward momentum, apparent earlier in the week when the political turmoil in Greece sparkled a sharp rise in expectations it would leave the euro zone, has eased.
"There is a severe reluctance to take on additional risk in the European region, people are more likely to look at the U.S. and some ...
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Gold drops as Greece batters global markets
Gold fell for a fourth straight day to its lowest since late December on Wednesday, sucked into a broad-based sell-off that dented global markets on the back of alarm over political turmoil in Greece.
Gold dropped along with other more industrial commodities such as copper and crude oil, under pressure from the rise of the dollar, which put silver on track for its longest stretch of consecutive daily losses in nearly four years.
Fears of a Greek exit from the euro zone worsening the debt crisis facing other European nations gripped financial markets on Wednesday, sending shares and other riskier assets lower as investors shifted funds into safe havens like the U.S. dollar.
The euro touched four-month lows against the dollar, Spanish and Italian bond yields soared, while European ...
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Dukascopy Morning Forex Overview : 05/16/2012
Fundamental Analysis
EUR
"Germany is holding up the rest of the euro zone”"
- Nick Kounis, head of macroeconomic research at ABN Amro
Germany helped the Eurozone avoid its second recession in three years. Overall gross domestic product stagnated in the first three months of 2012, compared to the previous quarter, Eurostat data showed on Tuesday.
USD
"There’s a lot of slack in the economy"
- Scott Brown, chief economist at Raymond James & Associates Inc.
Inflation in the U.S. stagnated in April, restrained by a decline in energy costs. The core consumer price index, which excludes food and energy costs, rose 0.2 per cent, showed Bureau of Labor Statistics data on Tuesday.
GBP
"March's UK trade figures showed a bit of an improvement, although the external sector still looks likely to ...
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Strong Germany GDP supports fragile eur
The euro held above a four-month low on Tuesday after German economic growth beat expectations, although gains could prove fleeting as the political stalemate in Greece stokes fears that Athens may renege on bailout pledges and exit the currency bloc.
European powerhouse Germany saw its economy expand in the first quarter at a robust clip of 0.5 percent, shaking off any fears of a recession. But a survey of German analyst and investor sentiment fell sharply in May, while GDP in France flatlined and Italy contracted sharply.
Overall, much of the euro zone was still struggling with a slowdown, putting pressure on the European Central Bank to loosen monetary policy to support the economy.
That is likely to see bears take a stronger grip of the euro. Also, concerns about slowing Chinese and ...
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Wall Street down for 4th day of five, breaks support
Stocks fell on Monday as investors dealt with the one-two punch of worsening political upheaval in the euro zone and the possibility that China's economy may be softening more than previously thought.
The S&P 500 finished lower for the fourth day of five to close at its lowest level since February, adding fuel to worries of a coming market correction.
Economically sensitive shares, including banks and energy companies, paced the decline. Exxon Mobil Corp (XOM.N) lost 1.2 percent to $82.12. The NYSEArca oil index .XOI fell 1.8 percent.
State television in Greece reported the president of the fiscally beleaguered country will continue talks on forming a coalition government, although Socialist leader Evangelos Venizelos said on Monday he was not optimistic that a government could be ...
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Euro hits 4-months low on Greece jitters; Aussie dips
The euro hit its lowest level in nearly four months on Monday after Greek political leaders failed in their latest efforts to form a ruling coalition, keeping investors on edge over the risk of the country exiting the euro zone.
Coalition talks in Greece hit an impasse on Sunday and Greece's radical leftist leader spurned an invitation from the president for a final round of talks on Monday, all but ensuring a new election.
Adding to the negative tone, German Chancellor Angela Merkel's conservatives suffered a crushing defeat on Sunday in an election in Germany's most populous state, a result which could embolden the left opposition to step up attacks on her European austerity policies.
The euro seems likely to head lower in coming weeks, especially since the European Central Bank may ...
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