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American Dollar ContinuedTitle:
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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Dukascopy Afternoon Forex Overview : 05/15/2012
Dukascopy Fundamental Analysis
EUR
Investors battered European stocks, dumped the bonds of Spain and Italy, and bid the euro down against the dollar Monday after the collapse of weekend coalition talks in Greece edged that country closer to an exit from the euro zone.
USD
Retail sales in the U.S. rose in April at the slowest pace of the year, showing unseasonably mild weather and pre-Easter shopping may have pulled consumers to stores the prior month.
GBP
Governor Mervyn King looks set to leave the door open to more support for the struggling economy when he presents the Bank of England's new economic outlook on Wednesday, which is likely to show a tricky mix of lower growth and higher inflation ahead.
CHF
Swiss stocks lost ground on Monday on concern Greece will exit the Eurozone.
...
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Dukascopy Morning Forex Overview : 04/05/2012
Fundamental Analysis
EUR
"Technically, easier monetary policy conditions should be currency negative."
- Jane Foley, analyst at Rabobank
The European Central Bank held key rate at 1 per cent on Thursday and told it expects a gradual economic recovery this year.
USD
"Labor market conditions have improved in recent months."
- Federal Open Market Committee
The number of Americans claiming for unemployment benefits tumbled to 365,000 in the week ended April 28 from 392,000 the week before, said the Department of Labor on Thursday.
GBP
"The service sector started the second quarter on a weaker note than in the first quarter, but continued to grow at a reasonable pace."
- Chris Williamson, chief economist at Markit
U.K. service sector growth slowed in April, Markit Economics data showed on ...
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American dollar trades as a safe haven
The American dollar continued its upside trend against the major counterparts as investor demand for an investment haven amid worries for the European debt crisis, supported the common currency to increase losses against the greenback.
On the other hand, the RBNZ governor noticed today that the government is to take more financial facilities that work to contain interest rates and support the recovery, this policy called as macro-prudential policy.
Moreover, the New Zealand dollar increased its losses against its counterparts, recorded the lowest level in more three months against US dollar after the jobless report that showed unemployment rates advanced to the highest level in about two years as people failed to get any chances for working.
NZD/USD pair dropped to its lowest level at 0. ...
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Brent steady above $119; U.S., China data supports
(Reuters) - Brent crude was steady above $119 a barrel on Wednesday, supported by positive manufacturing data from the United States and China that lifted hopes of higher oil demand at the world's top two energy consumers.
U.S. manufacturing growth in April hit its highest level in 10 months, while China's factory sector also expanded last month, government data showed on Tuesday.
A private-sector survey geared towards smaller Chinese firms also showed that manufacturing activity improved in April, but remained below the threshold of 50 that divides expansion from contraction.
"The economic data is supporting oil prices, but there will be anxiety ahead of the U.S. jobs report on Friday, so I don't expect any big volatility for the rest of the week," said Gordon Kwan, head of energy ...
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YouTradeFX Daily Market Analysis : 02/05/2012
Fundamental News
Today’s highlights:
· French Manufacturing PMI (FRA, 08:50 GMT)
· German Manufacturing PMI + German Unemployment Rate (GER, 08.55 GMT)
· Manufacturing PMI (EUR, 09:00 GMT)
· Unemployment Rate (EUR, 10:00 GMT)
· ADP Nonfarm Employment Change ( U.S., 13:15 GMT)
U.S manufacturing grew in April at the fastest pace in almost a year. The Institute for Supply Management’s factory index climbed to 54.8 last month. In addition, U.S. construction spending was slightly up in March, according to figures released Tuesday by the Commerce Department. The overall construction spending was at a seasonally adjusted annual rate of $808.1 billion.
According to an article published by Bloomberg, the odds of more Federal Reserve stimulus diminished ...
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Dukascopy Afternoon Forex Overview : 01/05/2012
Fundamental Analysis
EUR
Anti-austerity protestors are likely to hold massive demonstrations in May Day. Demonstrations in Athens that involve private and public sector strikes have already disrupted the public transport. However, the traditional violence is not expected as Greeks are likely to show their protest against austerity measures on Sunday when the general elections are due.
USD
Crude and Brent oil dropped as lifted US energy inventories outweighed supply concerns caused by export disruptions in Yemen, Sudan and North Sea.
GBP
Manufacturing sector in the UK performed worse than initially expected in April, reported research group Markit. UK's manufacturing PMI declined to 50.5 last month on a seasonally adjusted basis as compared to a March reading of 52.1. Experts ...
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USD Remains Bearish During Slow Trading Day
The US dollar extended its bearish trend during yesterday's trading session, as investors continued to digest the disappointing US Advance GDP figure released last week. The greenback hit a two month low against the Japanese yen while the GBP/USD rose to an eight-month high. Turning to today, most European markets are closed for the May Day holiday. That being said, traders will want to pay attention to news out of the US. Specifically, the US ISM Manufacturing PMI is forecasted to generate significant market volatility. A better than expected result could help the dollar recoup some of its recent losses.
Economic News
USD - US Manufacturing PMI May Help Dollar
The dollar largely remained bearish against its main currency rivals yesterday, following disappointing US news last week which ...
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