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American Dollar GainedTitle:
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 ...
Title:
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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U.S. Stocks Go Green On Upbeat Manufacturing, Greek-Government Deadlock
U.S. Stocks turned slightly positive after the opening on Tuesday, as better than estimated economic data offset concern Greece will soon exit the euro.
Equities gained after swinging this morning as manufacturing in the New York region grew more than forecast in May, helped as well by an unexpected German GDP data.
Other governmental data showed this morning that retails sales in the U.S. rose last month at the slowest pace of the year, and that consumer prices were unchanged.
However, fears from Europe loomed around the markets as Greece will hold new elections after President Karlos Papoulias failed to find the means to create a unity government.
Retailer shares gained the most in the in the S&P 500 after the government report, while Financials were lifted as well as Bank of ...
Title:
U.S. Stocks Fall Amid Speculation Greece Will Depart Euro
U.S. Stocks slumped at the open on Monday, sending the Standard & Poor`s 500 Index below key 1,350, with basic materials and energy shares falling the most this morning as concerns grew Greece will lose its euro-membership while the country`s political leaders fail to forge a collation government.
The Political uncertainty is mounting with four parties failing to find a common ground in order to avoid having to call an inevitable new election in June. Should Greece face new elections next month, markets will start to weigh a referendum on Greece staying in the euro.
Leaders of Greece`s main political parties stood rigid in their positions on the country`s debt agreement with European Union to International Monetary fund, making a coalition government barely impossible as European finance ...
Title:
Dukascopy Morning Forex Overview : 11/05/2012
Fundamental Analysis
EUR
"The overall manufacturing trend remains weak."
- Pierre-Olivier Beffy, chief economist at Exane BNP Paribas
French industrial production fell in March, said the national statistics office Insee on Thursday. Output contracted 0.9 per cent from February, when it gained 0.2 per cent.
USD
"It’s hard to get nervous that imports are rising."
- Dean Maki, chief U.S. economist at Barclays Capital Inc.
The number of Americans claiming for unemployment benefits fell to 367,000 in the week ended May 5 from 368,000 the week before, said the Department of Labor on Thursday.
GBP
"Our forecast is that they are done with QE, but you can’t rule out more later this year."
- Ross Walker, an economist at Royal Bank of Scotland Group Plc
The Bank of England kept rates on hold ...
Title:
Loonie Looks Stronger, Employment Data May Weaken Currency
The Canadian dollar gained today as Forex traders showed risk appetite on signs that the situation in Greece is improving and some positive data from the United States. The gains of the currency were limited as tomorrow’s employment data is expected to be rather poor.
European politicians confirmed that Greece is receiving a next round of bailout. There are speculations that the most-indebted European country made progress in forming a new government. US federal budged had its first surplus since 2008. Most news was good today and that translated into demand for riskier assets. Both the Standard & Poor’s 500 Index and MSCI World Index of stocks were up 0.5 percent today.
Canada’s currency profited from the general positive sentiment on the FX market, but is weighed down by poor ...
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S&P Rebound From Two-Month Low On Greece, Jobless Claims
U.S. Stocks rose at the open on Thursday, lifting the Standard & Poor`s 500 Index from a two-month low, as Greece strives to put up a government and an unexpected decline in American jobless claims brushed aside concern of labor market relapse.
Equities joined a global rally as former Greece Finance Minister Evangelos Venizelos moved to form a government that will warrant that nation remains in the euro are. In the U.S., initial jobless claims fell last week to the lowest in April.
Financials rebounded from yesterday`s slump, as Bank of American Corp and Citigroup Inc advanced at least 1.2 percent, leading gains in financial shares. Monster Beverage Corp rose 10 percent after the energy-drink maker reported profit that exceeded forecast.
Cisco Systems Inc plunged 8.2 percent after the ...
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Australia sees the biggest trade deficit in five years
Australian economy witnessed a widening in its trade balance deficit, the biggest in five years, where imports raised 5% to outpace exports growth in an economy driven by the mining industry.
Australian economy released its trade balance reading for March recording an unexpected deficit of 1587 million Australian dollar revised to 754- million Australian dollar, compared with the previous surplus of 480 million Australian dollar, while the expected was 1300- million Australian dollar.
Imports outpaced exports by 1.587 billion Australian dollar which equal 1.6 billion American dollar from a revised 754 million Australian dollar deficit a month earlier, where today’s reading reflects that the deficit is the widest since May 2008’s shortfall by 1.82 billion Australian dollar.
Moreover, ...
Title:
Dukascopy Morning Forex Overview : 07/05/2012
Fundamental Analysis
EUR
"The U.S. labor-market report will further erode investor confidence"
- Markus Allenspach, head of bond research at Julius Baer Group Ltd.
European stocks extended weekly losses, after a report showed U.S. companies added fewer jobs than expected in April. The Stoxx Europe 600 Index erased 1.76 per cent to 253.00. Germany’s DAX Index tumbled 1.99 per cent and France’s CAC 40 Index contracted 1.90 per cent. The U.K.’s FTSE 100 Index lost 1.93 per cent to 5,655.06.
USD
"We’re still very much on the recovery path, but we’ve got a huge amount of ground to make up in the labor market"
- Scott Brown, chief economist at Raymond James & Associates Inc.
The number of Americans, who have found a job in the private sector in April, tumbled to 115,000 from 154,000 the ...
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