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As Traders AwaitTitle:
Brent steady near $109 ahead of EU summit, Iran talks
(Reuters) - Brent crude held steady near $109 on Tuesday, awaiting the results of two meetings to tackle Europe's debt crisis and Iran's nuclear programme, which could determine the future of global oil demand and supply.
EU leaders may introduce new measures to tackle the euro zone's worsening debt crisis during Wednesday's informal meeting to seek solutions to the Greek political crisis mired in conflict over debt and austerity policies.
Major powers will also meet Iran on Wednesday to discuss its nuclear programme, but tensions with the West remain high as the U.S. Senate unanimously approved a package of new economic sanctions on Iran's oil sector on Monday.
Brent crude edged up 7 cents to $108.88 a barrel by 0448 GMT, but is still about $20 down from March's high. U.S. crude for ...
Title:
Gold eases after failing to breach $1,600 an ounce
(Reuters) - Gold prices slipped on Monday after early buying failed to lift prices past $1,600 an ounce, with investors still cautious about the precious metal as they awaited clearer signals on the euro-zone debt crisis.
Last week, gold slid to its lowest level since December, then rallied 4.5 percent late in the week. Buying resumed early on Monday but ran out of steam, as mild technical selling set in around the session high of $1,599 an ounce -- gold's priciest level in a week and a half.
Spot gold was down 0.08 percent at $1,590.80 an ounce at 3:43 p.m. EDT (1910 GMT), while U.S. gold futures for June delivery settled at $1,588.70 per ounce, down 0.2 percent from Friday.
A close above $1,605 an ounce would trigger significant buying, traders said, but after last week's tumultuous ...
Title:
No News is good News, or?
MORNING BRIEFING: No News is good News, or?
What’s new:
Asia: Awaiting news from Greece and potential spill-over effects. JPY offered on speculation that BoJ will add stimulus to boost growth.
United States: Risk aversion moved flow from stocks to treasuries. 10yr generic fixed income futures in all-time highs at 133-27. USD weak on Friday.
G8: Another round of talk, but no action on Greece.
Europe: Slightly negative across the board in stocks. Only Spain managed to recover some of the losses, closing up 0.4%. EUR/USD re-visiting 1.28+ this morning.
Rates in Asia and Indices:
EUR/USD 1.2742 1.2813 -0.04 %
USD/CHF 0.9375 0.9422 -0.07 %
GBP/USD 1.5795 1.5839 -0.02 %
USD/JPY 79.03 79.31 -0.34 %
EUR/CHF 1.2010 ...
Title:
Market edges up, Wall Street awaits Facebook debut
Stocks rose in early trading on Friday but were gearing up to close their worst week of the year, while Facebook's market debut could help lift battered investor sentiment.
The S&P has fallen 6.7 percent so far in May, and while volatility is expected to continue, some analysts were forecasting a near-term rebound as valuations become more attractive.
Investors are awaiting Facebook's debut after the world's No. 1 online social network raised about $16 billion in one of the biggest initial public offerings in U.S. history. Facebook priced its offering at $38 a share on Thursday, and shares are expected to begin trading under the FB symbol on Nasdaq (FB.O) at around 11 a.m. New York time.(1500 GMT).
The large weekly decline in equities has come amid uncertainty over a political crisis in ...
Title:
Wall Street Seen Green Before Jobless Claims, Manufacturing Reports
U.S. Stock-index futures pointed to a green start for Wall Street on Thursday, as traders await a governmental report that may show fewer jobless claims in the week ago and manufacturing in the Philadelphia region grew at a faster pace in May.
As of 06:07 a.m. New York Time, Dow Jones Industrial Average futures expiring in June 12 rose 0.16 percent to 12,594, Standard & Poor`s 500 index futures gained 0.25 percent to 1,325.80, and NADSAQ 100 Futures rose less than 0.1 percent to 2,559.50.
A convincing down turn in the U.S jobless claims would likely seal early expectations for a strong May employment report. Analysts expect a median estimate around 365 thousand last week, slightly down from 367 thousand in the week ended May 5.
The general business conditions index of the Philadelphia ...
Title:
Markets Hold Ground, Awaiting Central Banks to Move
Taking a general look at markets before the end of this week, we can see that the bearishness started to lose momentum as traders are speculating now what tools Central Banks might provide to revive the slowing pace of recovery, especially the European Central Bank amid the current political instability in Greece, the confirmed recession in Spain and Italy and the deepening debt crisis.
Moreover, investors are still worried and concerned regarding the general trend in markets, where after the Federal Reserve reassured that a slowing recovery in the U.S. might trigger another round of quantitative easing, volatility dominated markets as predicting the coming moves became highly uncertain as Politicians failed to calm markets and the fueled debt crisis, leaving policymakers with a difficult ...
Title:
Dukascopy Morning Forex Overview : 10/05/2012
Fundamental Analysis
EUR
"The real concern isn’t about Greece, it’s about the euro and whether it breaks up -- that is key."
- Mark Tinker, a fund manager at AXA Framlington Investment EUR Management
European stocks declined on Wednesday as investors awaited resolution of Greek coalition talks and yields on Spanish 10-year bonds rose above 6 per cent.
USD
"Certainly as a result of the elections in Greece, the odds of a default and an exit from the euro have increased."
- James Dunigan, chief investment officer for PNC Wealth Management
U.S. wholesale inventories rose in March at a slowest pace since November, Commerce Department data showed on Wednesday.
GBP
"Consumers, struggling to balance their household budgets, remain reluctant to spend..."
- Stephen Robertson, BRC director ...
Title:
Brent rises on Greece bailout payment, technicals
Brent crude futures climbed back into positive territory in late trading on Wednesday, snapping five days of losses after approval of a bailout payment to Greece eased worries about euro zone debt.
Oversold conditions in recent days after an extended drop in prices sent crude futures down as much as 8.6 percent since May 2 also attracted bargain hunters, analysts said.
Trading was choppy all day with oil finding balancing news of a North Sea oilfield shutdown, a U.S. refinery snag and a drop in U.S. refined product inventories against concerns about a potential Greek debt deal.
The stock market pared losses and Brent crude turned positive after euro zone governments agreed to authorize a payment of 5.2 billion euros from the region's bailout fund, despite opposition from some member ...
Title:
Euro gain force on technical movements…
Today on a daily scale the euro and the pound lost considerable strength on a daily base since that worries persisted on the EU soil and in Greece above all with global investors and traders awaiting patiently for a resolution and pledge to the political impasse in Greece and as Spanish credit risk surged, which have also led the EU shares to fluctuate within its closing session and made the US shares plummet considerably in its midday session.
Yet on the four-hour and one-hour charts the euro along with the pond were able to gain back some of the strength loss throughout the day mainly on technical movements taking place recently throughout the stock market.
Accordingly the Dollar index which measures the performance of the U.S. dollar against a basket of currencies including the Euro, ...
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