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Appeal Of The Japanese CurrencyTitle:
Euro rallies from 4-month low versus dollar
The euro rallied from a four-month low against the dollar on Friday as investors pared bets against the single currency after a more than 3 percent drop this month, but concerns about Greece and Spain were likely to keep it under pressure.
Positioning ahead of the weekend meeting of the Group of 8 major industrialized nations and technical support also helped, traders said, as the euro approached its January low of $1.2623. Gains accelerated after a wave of stops were triggered in the euro's grind higher.
Despite Friday's rebound, investors preferred the relative safety of the U.S. dollar and the Japanese yen as worries about Europe persisted after Moody's cut the credit ratings of 16 Spanish banks late on Thursday.
Some traders said investors were wary of placing bets ahead of the ...
Title:
Euro comes off 4-month low but worries remain
The euro rose from a four-month low against the dollar on Friday as investors pared bets against the single currency after a 4 percent drop this month but concerns about Greece and Spain were likely to keep it under pressure.
Technical support also helped, traders said, as the euro approached its January low of $1.2623. A break beneath that would opened the door to a slide toward the 2010 lows around $1.1875.
Despite Friday's gains, investors preferred the relative safety of the U.S. dollar and the Japanese yen as worries about Europe persisted after Moody's cut the credit ratings of 16 Spanish banks on Thursday.
Some traders had earlier said the euro's recent decline could slow, given investors may be wary of holding positions over the weekend when leaders of the G8 major industrial ...
Title:
Euro rallies from 4-month low but crisis remains
The euro rose from a four-month low against the dollar on Friday as investors pared bets against the single currency after a 4 percent drop this month, but concerns about Greece and Spain were likely to keep it under pressure.
Despite Friday's gains, investors preferred the relative safety of the U.S. dollar and the Japanese yen. They were reluctant to increase risk exposure after Moody's cut the credit ratings of 16 Spanish banks on Thursday.
With no U.S. data to drive foreign exchange markets, investors are most likely to consolidate positions ahead of the weekend following days of euro losses.
"The biggest risk today is position squaring into the weekend; however there appears to be increasing evidence that the euro is likely to move lower in the days ahead," said Camilla Sutton, ...
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Dukascopy Morning Forex Overview : 23/04/2012
Fundamental Analysis
EUR
"Ifo index paints a too positive picture of the growth prospects for the German economy"
- Carsten Brzeski, senior economist at ING Group
German business confidence unexpectedly improved in April, a sign the euro zone’s largest economy is weathering Europe’s debt crisis. Ifo business climate index, which is based on a survey of 7,000 businesses, rose to 109.9 points from 109.8 points in March.
USD
"A strong Germany helps the euro massively, and helps other assets too"
- Neil Jones, head of European hedge-fund sales at Mizuho Corporate Bank Ltd.
U.S. stocks closed mixed on Friday while German investor confidence unexpectedly improved and blue chip companies from General Electrics to Microsoft reported better than expected earnings.
GBP
"While the month of March ...
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Dollar Back On Spot As Spanish Debt Fears Ease, IMF Upgrades Growth Outlook
The Greenback is back on the spot on Wednesday, boosted with less safe-haven appeal amid what seems to be an eased debt worries in the 17-bloc euro area, however worries are out there ahead of Spain's upcoming bond auction.
Amid a lack of major fundamentals from the world's largest economy but with yesterday's boost from the International Monetary Fund and its upgrade for global growth outlook, The USDIX, which tracks the U.S currency against six of it's most-traded peers, rose to 79.76 from 79.65.
Gold price lacked upside support as the dollar rose on Wednesday, as the metal fell for the third day trading around $1641.40 an ounce from $1669.72. Crude oil for May 12 delivery fell to trade around $102.70 a barrel from $104.26, slightly above the $102.20 daily low after printing an $104. ...
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Dollar Appreciates Against Euro In Listless Trading
With jobs disappointment and growth concerns back on front, traders are running out risk it seems and a major sell-off is looming around the markets after the Easter Holiday. The U.S. dollar is back on a rise against the euro as traders weigh Friday's employment report.
The U.S. Department of Labor reported Friday that American payrolls increased by 120 thousand in March, after rising 240 thousand (revised from 227 thousand) - an employment figure that is too below market consensus of 205 thousand.
In a listless trade, currencies are little changed Monday as traders are still for the Easter holiday but the U.S. Stock exchange was up today and witnessed a strong selloff wave and more than 1 percent of equity value was flushed amid lack of fundamentals from the U.S.
The dollar rose ...
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Asian stocks drop on China’s downbeat data amid thinner volumes
Amid lower-than-usual volumes, with markets in Hong Kong, Australia, New Zealand, Thailand, Philippine, Europe and the US being closed for Easter, the MSCI Asia Pacific Index fell 0.5% after data showed rate of China rose faster-than-expected.
Chinese data showed that inflation rose in March more-than-expected by 3.6% from 3.2% in February, led by higher food prices, signaling that policy makers might delay further easing of monetary policy.
Weighing on sentiment was the slowdown in US jobs growth, as the economy added the fewest employers in five months in March, 120K from 205K expected, raising concerns over the strength of the US economy.
As the US jobs data and the Chinese inflation numbers reduced optimism, investors became more cautious and demand for safe haven increased. This ...
Title:
Dukascopy Morning Forex Overview : 03/04/2012
Fundamental Analysis
EUR
"We expect it to go higher, to reach 11 percent by the end of the year"
- Raphael Brun-Aguerre, an economist at JP Morgan
Euro zone unemployment rose to the highest since 1998, a sign the economy has slipped into recession. Unemployment increased to 10.8 per cent, said the European statistical agency on Monday.
USD
"We are seeing a broadening in the improvement across the economy"
- Millan Mulraine, a senior U.S. strategist at TD Securities
U.S. manufacturing growth accelerated in March, the latest evidence the economy is gaining momentum.
GBP
"UK manufacturing has made a brighter than expected start to 2012"
- Rob Dobson, senior economist at Markit
The U.K. manufacturing sector expanded at its fastest pace for 10 months in March, Markit data showed on Monday. ...
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Euro slips on European manufacturing while yen rallies
(Reuters) - The euro opened the second quarter of 2012 lower against the dollar and yen on Monday as weak European manufacturing data highlighted a growing split between the economic outlooks of the United States and the euro zone.
Manufacturing strengthened in the United States and China in March while the euro zone contracted for the eighth straight month.
Reports from the euro zone, which is teetering on the brink of recession, also showed the downturn in the region's smaller nations has spread to core countries Germany and France, according to purchasing managers' indexes (PMIs) for March. The outlook was grim as new orders fell across the region for the 10th month.
The weak data should keep European Central Bank monetary policy accommodative, but at the same time the U.S. Federal ...
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