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Asia The Yen FellTitle:
Dukascopy Afternoon Forex Overview : 22/05/2012
Fundamental Analysis
EUR
Gold extended previous gains in Asian session on Tuesday as concerns over Greek exit from the single currency union eased. At G8 summit leaders of eighth largest economies stated that they would do everything possible to retain Greece in the Euro Zone. COMEX gold June contract traded at 1,592.35 US Dollars per troy ounce on the New York Mercantile Exchange, advancing by 0.23%.
USD
The US Senate has passed a bill aimed at tightening sanctions imposed on Iran to force the country to cease its nuclear program. The new sanctions imply investigation of role of Iran's Revolutionary Guard in oil exports as well as obliging the US companies to disclose any business activities with Iranian partners. The move came ahead of negotiations between Iran and six major ...
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Japan’s Yen still weak before BOJ’s next meeting decision
Japanese yen still witness a weakness period that started with the beginning of the week waiting BOJ’s meeting results that expected to show further stimulus for the nation’s economy, which negatively affected on Japanese local currency.
USD/JPY pair inclined to the highest in three sessions according to the recent decline in Yen’s value which boosted the pair to record high of 79.46 after opening at 79.40 with low of 79.29.
From another side, the euro witness a fell before the issuance of declined confidence in Europe’s economy regarding to the consecutive financial crisis, where the pair EUR/USD recorded low of 1.2781 after high of 1.2814 while opening was at 1.281.
AUD/USD pair inclined to the highest in three days recording high of 0.9926 after low of 0.9888 where the pair started ...
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Markets extend gains on value hunt, hopes for EU summit
(Reuters) - Markets extended gains in Asia on Tuesday with investors hunting for bargains in shares beaten down to 2012 lows late last week, as hopes grew that Europe could agree on fresh action to tackle its debt crisis while promoting growth.
A Chinese media report saying Beijing will accelerate infrastructure investments to combat slowing growth lifted Hong Kong and Chinese shares by 1.2 percent .HSI and 0.6 percent .SSEC respectively.
European shares looked likely to extend gains, with financial spreadbetters predicting that major European markets .FTSE .FCHI .GDAXI would open as much as 1.0 percent higher. U.S. stock futures were up 0.1 percent. .EU .L .N
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS climbed 1.4 percent, having recovered on Monday from a ...
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Asian Stocks Advance On China's Call For Stronger Growth But Sentiment Still Fragile
After China's premier called for additional efforts to support growth, Thailand's economy grew firmly in Q1 and world leaders urged Greece to stay in the euro zone, Asian stocks recovered some of last week's losses, the yen slid while commodities gained.
The MSCI Asia Pacific Index added 0.5% at 12:56 in Tokyo as worries eased on believes China and Japan may take steps to support growth, while world leaders called for Europe to balance austerity with growth during the G-8 summit.
China's Premier Wen Jiabao said over the weekend that his country must adopt a “proactive fiscal policy and a prudent monetary policy” to support growth, spurring speculations of additional stimulus since inflation is moderating.
Meanwhile, Japan is expected to ease its monetary policies even more during BoJ's ...
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Dukascopy Morning Forex Overview : 21/05/2012
Fundamental Analysis
EUR
"Fears of a Greek exit from the euro zone and the negative consequences from that are prevailing"
- Ben Kwong, KGI Asia
European stocks edged lower after Fitch downgraded Greece’s credit rating to ‘CCC’, implying that the country is vulnerable and highly dependent on favourable economic conditions to fulfill its financial obligations.
USD
"If there were scope to do another twist of some type it would be prudent to consider it, especially in the scenario where things are worse and the Fed feels like it needs to move"
- Nathan Sheets, Citigroup Inc.
Fed policymakers might potentially launch another round of Operation Twist rather than a direct asset purchases in case of increased risks or further weakening of the US economy.
GBP
"We must work together to give ...
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Japanese yen fell versus major currencies before BOJ’s meeting
Japan’s yen fell against major currencies with the beginning of the day, where investors are waiting this week’s BOJ’s meeting minutes which expected to contain another stimulus plans, which negatively on yen’s demand to feel against most of currencies.
From another side, the significant incline of Japanese yen against American dollar during the past three weeks increased pressure on BOJ to raise its financial programs that aims to support companies and compensate the recent massive incline.
USD/JPY pair inclined to record high of 79.24 during today’s Asian session, after recording low of 79.11 to be now at 79.04. Euro/JPY pair inclined also to the highest in two session recording high of 101.40 and low of 100.97.
AUD/USD pair slightly inclined in a correction trend after the massive ...
Title:
Dukascopy Morning Forex Overview : 05/18/2012
Fundamental Analysis
EUR
"Spain, once again, is where the confidence game is played"
- Sebastian Paris Horvitz, strategist at HSBC Private Bank Suisse
Spain sold the maximum targeted amount of debt, 2.5 billion euros, during yesterday’s auction with spiking borrowing costs. The interest rate of three-year bonds rose to 4.373% from April’s figure of 2.89% while interest rate of five-year bonds surged to 5.106% from 3.374 in March.
USD
"What we’re seeing in foreign-exchange markets is strong demand for the U.S. dollar"
- Steven Saywell, head of foreign-exchange strategy for Europe at BNP Paribas SA
Latest US initial unemployment claim data was released yesterday – 370 000 Americans demanded their jobless benefits last week versus a 368 000 consensus forecast. The Labor Department revised ...
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EUR Avoids New 4-Month Low
While the euro remained bearish against its main currency rivals throughout yesterday's trading session, it avoided falling to a new four-month low against the US dollar. The marketplace was unusually calm, as a bank holiday in Europe resulted in limited movements among the most traded currency pairs. As we close out the week, traders will want to note that another slow news day may result in low liquidity in the marketplace. Typically, low liquidity situations can result in exaggerated movements among currency pairs and commodities for seemingly no reason. Any mention of additional euro-zone worries may result in a significant drop for the euro.
Economic News
USD - Manufacturing Data Causes USD to Tumble
The US dollar tumbled vs. the Japanese yen during the afternoon session yesterday, ...
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Global shares slide amid fears for Spanish banks, growth
Asian shares tumbled on Friday and were set for their worst weekly showing since September, amid political turmoil in Greece and signs of growing instability in Spanish banks, with investors adding the latest weak U.S. data to the list of risk factors.
Assets across the board, from commodities such as oil and gold to riskier currencies such as the euro and the Australian dollar were all heading for their weekly losses.
Financial stocks were hammered after the head of Australia and New Zealand Banking Group (ANZ.AX) said volatile conditions in global markets have caused the wholesale funding market for Australian banks to freeze again, a worrying echo of the global financial crisis.
European shares were also set to fall, with financial spreadbetters predicting that major European markets ...
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