Analysis At The Conference Board

Fundamental Analysis EUR Unemployment in Spain approached a new record of 5.64 million in March while the jobless rate topped 24.4%, reported the national statistics office. Analysts expect the Spain's officials to confirm that the country is falling into recession. Meanwhile, retail sales in the country declined by 3.7% in March on an annual basis. USD US consumer spending surged in March, adding to the previous gains as incomes increased. Household purchases that account about 70% of the US economy surged by 0.3%, following a 0.9% increase in February. Experts projected consumer spending to rise by 0.4%. Meanwhile, incomes eased up 0.4%, indicating the largest increase in the last three months. GBP UK home value accelerated in April, the second straight month, Hometrack Ltd said on ...

Sunrise Market Commentary - Fixed Income: Small changes after volatile trading - Core bonds traded volatile due to economic data and bond auctions. The Fed had the final saying. The FOMC statement showed that the Fed was slightly more optimistic on growth and the governors more hawkish in their rate forecasts. However, policy remains unchanged and Bernanke kept the door for more QE open. - Currencies: Fed doesn't help the dollar - On Wednesday, trading in most major currency cross rates was confined to recent ranges. EUR/USD is holding near the recent highs. The Fed kept a soft tone and this was a slightly negative for the dollar. Sterling lost temporary ground as Q1 GDP data showed that the UK has slipped back into recession. However, the EUR/GBP 0.8222 resistance did its job. ...

Fundamental Analysis EUR "Equities are stronger than in the fall, as central banks have moved to support the market with liquidity and removing the structural risks to banks" - Hans Peterson, the chief investment officer of SEB Private Bank Industrial new orders in the euro zone declined by more than forecast in February, Eurostat data showed on Tuesday. Orders decreased by a seasonally adjusted 1.3 per cent, after declining 2.9 per cent in January. USD "Overall, consumers are more upbeat about the state of the economy, but they remain cautiously optimistic" - Lynn Franco, director of the Conference Board Consumer Research Center U.S. consumer confidence declined in April as consumers became slightly less optimistic on the outlook of the country’s economy, the Conference Board Inc. ...

Dukascopy Technical Analysis EUR/USD "The euro area’s debt crisis is “almost over" - Italian Prime Minister Mario Moni (based on Bloomberg) The pair is attempting to advance further and it is likely to test the 7-month high at 1.3457. EUR/JPY "The yen move is driven by supply and demand before the final exchange-rate fixing of the fiscal year. I think we’ll start to see some rise in demand to buy JPY" - Mizuho Corporate Bank Ltd. (based on Bloomberg) EUR/JPY is holding bullish impetus while recovering from the 20-day average at 108.97. GBP/USD "Tesing that level is very much on the cards, but having said that, front-end sterling rates are pushing lower this morning and this could be having a bearing on the currency" - Lloyds TSB (based on Reuters) GBP/USD has successfully tested the ...

Fundamental Analysis EUR The European Commission's economic sentiment indicator suggests that “the euro zone is past the worst” - Howard Archer, chief European economist at IHS Global Insight Economic confidence in the single currency bloc rose more than expected in February, a sign the economy is recovering after a contraction in the fourth quarter. USD "Consumers are considerably less pessimistic about current business and labor market conditions than they were in January" - Lynn Franco, director of The Conference Board Consumer Research Center U.S. consumer confidence rose to one year high in February as consumers became more optimistic on the outlook of the country’s economy, the Conference Board Inc. said on Tuesday. An index of sentiment advanced to 70.8 points from 61.5 points ...

Dukascopy Fundamental Analysis EUR The European Central Bank’s willingness to ride roughshod over bondholder rights risks pushing up borrowing costs for indebted governments by making investors less willing to lend. The ECB swapped about 50 billion euros ($67 billion) of Greek bonds for new securities, identical to the old ones in every way save for identification numbers. USD The Conference Board's Consumer Confidence Index now stands at 70.8, up from a revised 61.5 in January, helped by consumers' improving assessment of the job market. Analysts had expected a reading of 63. The February reading marks the highest level since February 2011 when it was 72.0. The index is still far below the 90 that indicates a healthy economy. GBP U.K. 10-year (GUKG10) gilts rose for a sixth day after ...

Weekly Economic and Financial Commentary : 25/02/2012 U.S. Review Housing Market Recovery: A Regional Story This week, data on the housing market pointed to some slight firming. Although new home sales edged down 0.9 percent, existing home sales were up 4.3 percent. Even with the somewhat better housing data this week, concerns remain about the backlog of foreclosures and their effect on the market. Initial jobless claims continued to trend downward last week declining to 351K. The four-week moving average, the best indicator of the trend, also dropped to 359K suggesting sustained declines in layoffs. Jobless Filings Point to Fewer Layoffs The focus of this week's data was on the housing market with the release of existing home sales and new home sales. The housing data ...

Fundamental Analysis EUR "We’ve set out to wrap up the decision on a new aid program for Greece. I’m confident" - Wolfgang Schaeuble, German Finance Minister “We still have a bit of work to do,” German Finance Minister Wolfgang Schaeuble said as he arrived for the meeting of euro area finance chiefs. “We’ve set out to wrap up the decision on a new aid program for Greece. I’m confident.” USD "We have the U.S. economy accelerating with the job data and housing data also beginning to look pretty good" - Peter Garnry, an equity strategist at Saxo Bank A/S U.S. stocks climbed on Friday. The S&P 500 advanced 0.23%, or 3.19, to 1,361.23. The Dow Jones Industrial Average increased 0.35%, or 45.79 points, to 12,949.87. GBP "Upwards price-pressure is likely to be maintained in 2012" - Miles ...

(Reuters) - The United States created jobs at the fastest pace in nine months in January and the unemployment rate unexpectedly dropped to a near three-year low, giving a boost to President Barack Obama. Nonfarm payrolls jumped 243,000, the Labor Department said on Friday, as factory jobs grew by the most in a year. The jobless rate fell to 8.3 percent - the lowest since February 2009 - from 8.5 percent in December. The gain in employment was the largest since April and it far outstripped the 150,000 predicted in a Reuters poll of economists. It hinted at underlying economic strength and lessened chances of further stimulus from the Federal Reserve. "More pistons in the economic engine have begun to fire, pointing to accelerating economic growth. One of the happiest persons reading this ...