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Analysts Warned That The EuroTitle:
EUR trading firm as markets are more optimistic about Greece
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
The euro is trading on a firm note as markets are somewhat more optimistic that several outstanding issues on Greece are close to resolution. Firstly, late into the session on Tuesday a Greek government spokesperson finally announced that political leaders would meet on Wednesday to respond to the bailout proposals by noon. It appears that a tentative deal has been secured with the troika, though some individual points on how the cuts are going ...
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EU Debt Crisis Continues to Fuel Risk Aversion
The euro-zone debt crisis continued to fuel risk aversion in the market place yesterday, as poor news briefly brought the EUR/USD pair below the 1.3100 level. The pair staged a recovery later in the European session, after it was revealed that Greek leaders had begun finalizing a debt swap deal. Today, traders will want to continue monitoring the euro-zone situation, especially as it is becoming clear that Portugal will soon need a bailout to avoid defaulting on its debt.
Economic News
USD - ...
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Results of Spain’s auction on focus
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
Risk assets consolidated yesterday’s gains overnight. The dollar failed to regain lost ground and Asian equities followed the S&P 500 higher. Respectable global manufacturing prints certainly helped, but the gradual easing of sovereign stresses inSpainandItalyprobably played the greater role. We keep our cautious stance however, noting that European austerity measures are mostly only in their early stages of implementation, so there is scope for ...
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European shares rally to six-month high on economic data
European shares hit a six-month high on Wednesday as encouraging economic numbers boosted sentiment, while Italian banks gained after the Italian Central Bank made it easier for banks to boost their capital base.
The FTSEurofirst 300 index of top European shares .FTEU3 was up 1.9 percent at 1,057.08 points after climbing to its highest since early August.
Sentiment was boosted by data showing that the manufacturing sector in Germany, China and the United States were in better shape than ...
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Oil gains on China data, Iran tension
Firm Chinese economic data and brewing tension between Iran and the West pushed oil above $112 a barrel on Wednesday, putting it on track for its highest close in three weeks.
Brent crude was up $1.39 at $112.37 by 1415 GMT, heading for its highest close since Jan 11. U.S. crude was up 53 cents at $99.01.
"The market is confined to a range between $110.50 and $112.50 basis for front month Brent but the cold weather in north west Europe and continuing tension over Iran makes it likely that any ...
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Brent gains on China data, Iran tension
(Reuters) - Firm Chinese economic data and brewing tension between Iran and the West pushed Brent crude higher on Wednesday.
Brent crude rose 70 cents to $111.68 a barrel by 4:15 a.m. ET. It was just below its 200-day moving average of $111.77, a source of technical resistance.
U.S. crude gained 51 cents to $98.99 a barrel.
China's official Purchasing Managers' Index showed the manufacturing sector expanded modestly in January, with the index reading inching up to 50.5 from 50.3 in December, ...
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A better-than-expected China PMI gives AUD a temporary boost
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
The price action overnight was largely driven by a better-than-expected China PMI which gave AUD a modest but temporary boost. The euro meanwhile remained under downward pressure as investors digested yesterday’s news reports suggestingGreeceis resisting further austerity measures to bring debt down to sustainable levels, and that negotiations on this front are likely to make slow progress. This is a timely reminder that the proposed bond swap is ...
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Brent rises above $111, Iran supply worries support
(Reuters) - Brent crude rose above $111 a barrel on Wednesday, gaining for a second straight session on fears that tensions between Iran and the West may escalate with U.S. lawmakers mulling more sanctions on Tehran, while promising China data also supported sentiment.
Leading U.S. lawmakers are considering adding measures to a new package of sanctions that would single out Iran's national oil and shipping companies and restrict its ability to tap into electronic banking services.
Brent crude ...
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Economic growth quickens in Q4, but speed-bumps ahead
The U.S. economy grew at its fastest pace in 1-1/2 years in the fourth quarter, but a strong rebuilding of stocks by businesses and weak spending on capital goods hinted at slower growth in early 2012.
U.S. gross domestic product expanded at a 2.8 percent annual rate, the Commerce Department said on Friday, a sharp acceleration from the 1.8 percent clip of the prior three months and the quickest pace since the second quarter of 2010.
It was, however, a touch below economists' expectations for ...
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