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Analysts Warned That The EuroTitle:
Gold jumps 2.6 percent after slump; dead-cat bounce?
Gold rallied more than 2.6 percent on Thursday, its largest one-day gain since late January, as technical buy signals and new signs of a sluggish U.S. economy more than offset deepening despair over the euro zone.
After flirting with a bear market on Wednesday, down more than 20 percent from its September record, bullion rallied early after Philadelphia Federal Reserve data showed a contraction in factory activity in the U.S. mid-Atlantic region that rekindled some hope the Fed would plough more money into the system to stimulate the economy, traders said.
Technical buying also fueled gains after gold had nearly hit a key December low, trading just shy of key technical long-term support at the 100-week moving average of $1,515 per oz.
But with the euro and U.S. stocks in decline and ...
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Gold off 4-1/2 month low on increased physical buying
Gold rose more than 1 percent on Thursday, bouncing off a 4-1/2 month low, as weaker prices attracted new physical buyers, but gains were likely to be limited as the euro was undermined by fears of a deepening debt crisis in Greece.
Spot gold rose 1 percent to $1,553.80 an ounce by 09.07 a.m. EDT, from $1,538.30 late in New York on Wednesday, when it plunged to $1,527 - its weakest since December 29.
The precious metal rose to a high of $1,557.56 earlier, helped by the approaching expiry of gold options in the COMEX futures market.
U.S. gold futures hit a high of $1,557.90 an ounce and were at $1,554.30, up 1.1 percent. The contract had plunged to a multi-month low of $1,526.70 on Wednesday.
Gold, traditionally a safe-haven asset, has been moving in tandem with riskier assets such as ...
Title:
Dukascopy Morning Forex Overview : 05/17/2012
Fundamental Analysis
EUR
"We expect euro-region inflation to normalize in 2013"
- Michael Schubert, an economist at Commerzbank AG
Inflation in the seventeen nation bloc eased to 2.6 per cent in March from 2.7 per cent the previous month, said the European Union’s statistics office in Luxembourg on Wednesday.
USD
"Uncertainty about Greece and the effects a potential exit out of the euro would have on Europe, the global economy and the financial system in general is driving investors out of stocks into safe havens"
- Markus Huber, head of German sales trading at ETX Capital
The Standard & Poor's 500 lost 0.44%, or 5.86 points, to 1,324.80. The Dow Jones Industrial Average declined by 0.26%, or 33.45 points, to 12,598.55.
GBP
Unemployment figures are a "welcome step in the right ...
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Euro higher, investors debate outlook for Greece
The euro recovered from a four-month low against the dollar on Wednesday on expectations that Germany and France will act together to keep Greece in the euro zone, though the single currency remained pressured with investors not convinced Greece won't chart its own course.
Germany's Chancellor Angela Merkel and the new French President Francois Hollande had their first official meeting on Tuesday and stressed that they both wanted Greece to remain in the euro zone.
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Brent falls towards $111 on Greece jitters
Brent crude futures fell towards $111 a barrel on Tuesday as Greece's political and economic turmoil deepened and worries that the debt-laden country could leave the euro zone sparked a sell-off in dollar-denominated commodities.
Brent prices slid for a fourth consecutive day, hammered by fears of a slowdown in the global economy with European data due on Tuesday expected to show the region slipping back into a second recession in just three years.
China's decision to loosen monetary policy over the weekend also fed fears that the global economy is suffering as the crisis worsens, causing investors to flee from riskier assets and weighing on copper, gold and the euro.
Brent crude slipped 49 cents to $111.08 a barrel by 0452 GMT after sliding to $110.04 on Monday, its lowest intraday ...
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Oil slides on euro zone, China fears
Oil fell sharply on Monday, extending recent heavy losses, as mounting political uncertainty in Greece and worry about the prospects for growth in China added to a sense that the demand outlook is worsening.
Adding to jitters about the future of the euro zone, Greece's radical leftist leader spurned an invitation from the president for a final round of coalition talks on Monday, pushing Athens to the brink of fresh polls.
This added to already mounting worries of a global economic slowdown triggered by last week's lackluster industrial output data from China, the world's second-largest economy and oil consumer.
Brent crude was down by $1.65 to $110.61 a barrel by 1307 GMT, stretching its losses into a third session and after settling at $112.26 on Friday.
It earlier fell more than $2, ...
Title:
Oil slides on euro zone, China fears
Oil fell sharply on Monday, extending recent heavy losses, as mounting political uncertainty in Greece and worry about the prospects for growth in China added to a sense that the demand outlook is worsening.
Adding to jitters about the future of the euro zone, Greece's radical leftist leader spurned an invitation from the president for a final round of coalition talks on Monday, pushing Athens to the brink of fresh polls.
This added to already mounting worries of a global economic slowdown triggered by last week's lackluster industrial output data from China, the world's second-largest economy and energy consumer.
Brent crude slipped $1.69 to $110.57 a barrel by 1117 GMT, stretching its losses into a third session, after settling at $112.26 on Friday.
It earlier fell more than $2, and ...
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US Data Set to Impact Markets Today
The euro spent most of the day slightly above recent three-month lows hit against the US dollar and Japanese yen. Greece's inability to form a new government has raised the prospects that a new election will be held in the coming weeks, which has resulted in additional risk aversion in the marketplace. Turning to today, traders will want to pay attention to a batch of US data, including the PPI figure and the Prelim UoM Consumer Sentiment. Both indicators are considered valid indicators of overall economic health and have the potential to create market volatility before markets close for the week. Should any of the data come in above expectations, the USD may be able to see some upward movement against the yen today.
Economic News
USD - Dollar Turns Bearish vs. GBP
The dollar turned ...
Title:
Dukascopy Afternoon Forex Overview : 04/05/2012
Fundamental Analysis
EUR
German DAX index edged lower on Friday as investors awaited for US jobs data amid dropping commodity prices. Moreover European investors stayed cautious ahead of elections in Germany, Italy, France and Greece this weekend. At the moment of writing DAX index is 0.53% or 36.65 points down at 6,657.64.
USD
Crude oil futures moved higher during Asian session on Friday amid broadly weaker US Dollar. The greenback's index that measures its performance against six main currencies declined by 0.05% to 79.24 US Dollars. Meanwhile, light, sweet crude oil futures for delivery in June traded at 102.67 Us Dollars per barrel on the New York Mercantile Exchange, advancing by 0.13%.
GBP
Royal Bank of Scotland Group said on Friday its loss for the first three months of 2012 ...
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