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Forex - Fitchs Comments Hurt Sentiment
Forex News and Events:
Asian session was subdued with G10 flows unexceptional. EURUSD bounced around 1.2752 to 1.2807 while AUDUSD made a steady climb to 1.0413 (short of 200d ma) before dropping sharply. Traders will focus on Greek PSI issue as talks are expected to resume today. China headlines once against dominated a quiet session a china official stated support of smaller banks in targeting RRR for Guizhou banks. However, Guizhou is not an industrial center and effect will have limited consequence. Overall, FX market seems to have embraced the feel good story of the week, rewarding it with a strong risk rally. Chinese growth, which came in better than expected, but still at a low, combined with German data sent stocks and correlated risky assets soaring. But in our mind this is ...
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European Economic Sentiment improves, Spain runs another successful bond auction
Markets continued the sharp rebound today after the upbeat European economic sentiment and the slowdown in inflation in addition to the Spanish bond sale, where optimism dominated the market since the start of the session today after China grew better than expected in the fourth quarter; however, the upbeat fundamentals and events in Europe supported markets to extend the gains and recover the losses incurred on Friday after S&P downgraded several euro area nations.
The euro zone and Germany released ZEW Survey for the economic sentiment for January, where the survey showed that the economic sentiment improved to -32.5 from -54.1 in the euro zone and to -21.6 from -53.8 in Germany, which supported optimism to continue and the euro to extend the gains against the weakening greenback.
In ...
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YouTradeFX Daily Market Analysis : 17/01/2012
Fundamental News:
Today’s highlights:
· German ZEW Economic Sentiment + BoE Gov King Speaks (E.U. + G.B., 10:00 GMT)
· Interest Rate Decision (CAD, 14:00 GMT)
EUR/USD
EUR/USD: The single currency held close to the daily highs after a French debt auction, the first one after France lost its AAA rating by S&P. The markets were expected to be quiet today as the US markets are closed for the holiday
EUR/USD creep back a bit after lows in the Asian market dropping to 1.2680 area and the pair has spent the end of the market day inside a narrow range below that level, amid thin liquidity. As the markets close in the UK, EUR/USD is quoting around 1.2665, 0.3% above its opening price.
The French government sold €8.59 billion of debt on Monday, with borrowing costs declining from levels seen ...
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EUR Continues to Tumble amid Fresh Euro-Zone Worries
The euro started off the week by extending its bearish run, as traders continued to short the currency after last Friday's credit downgrade of several euro-zone countries. News that talks regarding a Greek debt swap deal broke down only increased fears regarding the prospects of a solution to the euro-zone crisis.
Economic News
USD - USD Approaches 17-Month High vs. Euro in Slow Trading Day
Traders continued to short the euro in favour of the US dollar on Monday, as fresh euro-zone worries boosted safe-haven assets. Trading was somewhat light yesterday, as US markets were closed for a bank holiday. Still, the EUR/USD extended its bearish run throughout the day, and came within reach of a fresh 17-month low. Against its other main currency rivals, the dollar was decidedly bearish ...
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U.S Week: Markets Will Watch First-tier Economic Data, More Corporate Results and Eyes locked On Eur
U.S Week: Markets Will Watch First-tier Economic Data, More Corporate Results and Eyes locked On Europe
The Superpower will be returning back to financial markets in the third trading week of the year, featuring crucial economic data, including key inflation and housing data, besides to the latest updates of manufacturing conditions. U.S Investors will keep an eye on news out from Europe and corporate results from the U.S.
U.S Markets will be off Monday to celebrate Martin Luther king Jr. Day, so the U.S economy will following up Tuesday.
Earnings season kickoff was the biggest highlight about the U.S economy, as focus basically remained on the 17-nation euro zone. A week ago, downgrade concerns and debt auctions dominated market sentiments around the clock, remarking debt crisis risks ...
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EUR Once Again Bearish Ahead of Debt Auctions
Ahead of a key European interest rate announcement scheduled for later today, the EUR once again has turned bearish following comments from a from a leading credit agency which highlighted just how vulnerable the currency is. With Spanish and Italian debt auctions scheduled to close out the week, traders can count on heavy volatility throughout the day today.
Economic News
USD - Return to Safe-Havens Turns USD Bullish
The US dollar recouped many of its losses from earlier in the week yesterday, as traders once again abandoned riskier assets in favor of safe-haven currencies like the greenback. The move brought the EUR/USD just shy of its 16-month low, while the GBP/USD fell to right around the 1.5300 level. The dollar's bullish movement began after comments by a leading credit agency ...
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Oil falls back on risk aversion, U.S. stock build weighs
(Reuters) - Oil fell on Wednesday as worries about Europe's debt crisis re-emerged, pressuring the euro to a 16-month low against the dollar, while data showed that U.S. crude inventories soared.
Early in the session, crude futures rose after an Iranian nuclear scientist was killed by a car bomb, an incident that Tehran blamed on Israeli and U.S. agents. The news added to worries that Mideast tensions could lead to a supply disruption from Iran.
But worries about European debt reasserted themselves after ratings agency Fitch urged the European Central Bank to ramp up buying of euro zone debt.
By 1:40 p.m. EST, ICE Brent crude for February was down 31 cents at $112.97 a barrel, after falling to a session low of $112.11, breaking below its 200-day moving average of $122.67. U.S. February ...
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Analysis: China must reform to beat shadow lending, loan sharks
(Reuters) - China must bring to heel an estimated $1.6 trillion (1.03 trillion pounds) shadow banking system if it is to deflate enormous asset bubbles fuelled by unregulated lending and stop small firms from getting forced to look to loan sharks for working capital.
Real estate prices that stay stunningly high despite ghost towns of empty apartment buildings and entrepreneurs fleeing gangland creditors are symptoms of China's narrowly-based financial system.
Tightly controlled credit limits keep the system's focus on funding state-backed businesses.
Beijing knows it needs sweeping reform of wholesale and retail capital markets to stop a huge chunk of the nation's 81 trillion yuan ($13 trillion) of domestic deposits being steered from bank loans and savings -- which dominate the ...
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Riskier Assets Turn Bullish Following Positive British Data
Riskier currencies like the euro and UK pound turned bullish yesterday, following the release of the British manufacturing PMI in morning trading. Meanwhile, the price of crude oil is steadily rising as tensions between the US and Iran continues to generate supply side fears.
Economic News
USD - USD Moves Downward as Investors Move to Riskier Currencies
The US dollar saw a largely bearish day yesterday, as positive economic data out of Europe generated risk taking among investors. The safe-haven greenback took losses against most of its main currency rivals, including the euro and GBP. The EUR/USD once again shot up above the psychologically significant 1.3000 level, while the GBP/USD crossed the 1.5600 barrier. The dollar also tumbled against other safe-haven currencies like the Swiss ...
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