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Analysts Estimate That That The YenTitle:
Dukascopy Afternoon Forex Overview : 10/01/2012
Fundamental Analysis
EUR
An official from the Fitch rating agency claimed warned about a significant risk of Italy’s downgrade in 2012. This announcement was justified by an unclear vision of debt crisis resolution and the high amount of Italy’s debt. On the other hand, the Fitch executive did not forecast a France’s downgrade this year under normal economic conditions.
USD
Consumer borrowing in US rose in November reaching a 10-year record-high indicating households feel safe to borrow and financials are ready to lend. Consumer Credit surged by $20.4 bn, the biggest increase since November 2001, to $2.48 trillion, said Federal Reserve. Analysts questioned by Bloomberg predicted an expansion of only $7 bn.
GBP
Marks and Spencer announced modest increase in the UK sales during the ...
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Dukascopy Afternoon Forex Overview : 06/01/2012
Dukascopy Fundamental Analysis
EUR
Germany's factory orders decreased more than expected in December. The orders declined by 4.8% on a seasonally adjusted basis from 5.2% increase in November, reported Bundesministerium für Wirtschaft und Technologie. Experts predicted the Germany's factory orders to slip by 1.6% in December.
USD
US employers managed to exceed expectations in creating new jobs adding more than 200,000 new jobs in December. The unemployment rate declined to 8.5%, hitting three-year low while the salaries and working hours jumped. Better than expected results follow increase in manufacturing activities and improved consumer confidence thus signaling on economic recovery of the US.
GBP
UK's services sector grew more than expected in December. The services PMI increased to ...
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Dukascopy Afternoon Forex Overview : 03/01/2012
Dukascopy Fundamental Analysis
EUR
Greece will be forced to exit the Euro Zone in case it fails to agree with the EU, private bondholders and the IMF on the second bailout worth 130 billion euros, said Pantelis Kapsis, government's official. The country may default in case the deal is not concluded till March when the country has to make bond payments.
USD
The EU countries have to solve the debt crisis using their own efforts, said Mitt Romney, Republican U.S. presidential candidate. The US has an interest in preventing the Euro Zone's collapse but the major responsibility for avoiding the recession should remain on the EU leaders, he added.
GBP
UK manufacturing activity contracted in December but at lower rate than in previous months. The Markit/CIPS purchasing managers index ...
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Dukascopy Afternoon Forex Overview : 29/12/2011
Fundamental Analysis
EUR
Germany's inflation rate decreased in December as European region's sovereign debt turmoil is hurting economic expansion. The inflation rate fell from 2.8% in November to 2.4% in current month. The reading matches economists' expectations. Euro area countries are facing severe spending cuts to reduce debt which hampers growth and as a result, the inflation, said Marina Luetje, Dekabank's economist.
USD
In US the number of people applied for unemployment benefits jumped more than expected last week. The number of residents, filing the application for jobless benefits reached 381,000, adding 15,000 on a seasonally adjusted basis. Experts predicted the figure to approach 370,000. Despite increase in claims, the figure is still below 400,000, indicating improving ...
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Loonie Rallies as US Economy Shows Signs of Recovery
The Canadian dollar advanced for the third day against the US currency and for the fourth straight session versus the euro and the Japanese yen as the signs of the economic recovery in the United States eased the pessimism caused by the problems in Europe.
The Conference Board leading indicators rose 0.5 percent in November, more than was predicted by analysts. The US gross domestic product expanded 1.8 percent in the third quarter. That’s less than the figure market participants hoped for and that was previously estimated (2.0 percent), but the rate of growth was higher than in the second quarter (1.3 percent). Tomorrow’s report is expected to show that Canada’s economy also expanded.
It looks like traders turned their attention away from Europe to the USA and were pleased with what ...
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Euro weakens as ECB lending plan stirs doubts
The euro fell against the dollar on Wednesday on worries that the European Central Bank's new three-year lending program to regional banks will do little to ease their funding problems.
The central bank allotted 489.2 billion euros ($639 billion) in a three-year long-term refinancing operation to struggling banks in the euro zone, a move investors hoped would ease the credit crunch facing banks and the funding strains facing indebted European nations.
The amount exceeded market estimates that had been in the 350-billion-euro range. And with financial markets, including the euro, having rallied already in anticipation of the ECB's lending program, the actual number served as a catalyst for profit-taking.
"The (outcome) was perhaps enough for longer-term money to come in and express doubt ...
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Euro near flat as ECB tender effects fade
The euro pared early gains to trade near flat against the dollar on
Wednesday as investors fretted that new three-year lending from the European Central Bank to regional banks would do little to solve the monetary union's ongoing debt crisis.
The euro rose nearly 1 percent early in the day to a one-week high near $1.3200, before giving up gains to trade around $1.3063, off 0.11 percent.
The ECB's three-year lending "helps in that we do know the first-quarter funding concern for the financial sector is less of a concern," said David Watt, senior currency strategist at RBC Capital Markets in Toronto.
"But that was only one of several things we were concerned about," he added. "Does it take the pressure off the ECB to cut interest rates? Does it solve the sovereign debt situation in a ...
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Euro falls as ECB tender fails to impress
The euro slipped against the dollar on Wednesday after heavy bank demand for cheap European Central Bank loans failed to convince investors the move would ease Europe's deep-seated debt problems.
The euro initially rose nearly 1 percent on the day to a one-week high near $1.3200, before giving up gains to trade around $1.3037, down 0.3 percent. Thin trading this week, leading up to the Christmas and New Year holidays, exacerbated the euro's choppy moves.
"While the ECB had hoped that banks borrowing at low rates would buy sovereign debt, it appears they are using the perceived bullish opportunity to jettison risk," said Christopher Vecchio, currency analyst at DailyFX.com.
The central bank allotted 489.2 billion euros ($638.28 billion)in a three-year, long-term refinancing operation to ...
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Euro drops as ECB tender fails to boost confidence
(Reuters) - The euro fell to a session low against the dollar on Wednesday, reversing earlier gains after a bigger-than-expected take up by banks of cheap ECB loans did little to convince investors that the Europe's deep-seated debt problems would be solved.
The central bank allotted 489.2 billion euros in a three-year long-term refinancing operation to struggling banks in the region, a move investors hoped would ease the credit crunch facing banks and the funding strains facing indebted European peripheral states.
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