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Bearish Movement Will BeTitle:
US Employment Data in Focus
The Week Ahead
Highlights
US employment data in focus
Bank of Japan underwhelms
RBA likely to cut
The SNB talks tough on the Swissie
Is the UK economy really that weak?
The Eurozone's growth pact
US employment data in focus
Earlier this week, the Federal Open Market Committee (FOMC) held its 2-day policy meeting. The bank kept policy on hold and upgraded the economic assessment, however comments from Ben Bernanke - which did not provide any new insight in our view - kept Treasury yields low, equity markets supported, and the dollar soft with QE3 speculation back into focus.
Fed projections showed upwards revision to real GDP growth with forecasts of 2.4%-2.9% for 2012 up from the prior 2.2%-2.7% estimate and the unemployment rate forecast was lowered to 7.8%-8% ...
Title:
EUR/USD Hits a 3-Week High
The US dollar tumbled vs. its major currency rivals throughout yesterday's trading session, following the most recent economic predictions from the Fed which stated that a new round of quantitative easing could be initiated if US unemployment does not drop further. The EUR/USD shot up to a three-week high as a result of the news, reaching as high as 1.3262. Today, traders will want to pay attention to the US Advance GDP figure, set to be released at 12:30 GMT. A better than expected figure could help the USD rebound vs. riskier currencies, like the euro and AUD.
Economic News
USD - US GDP Figure May Help Dollar Recover Losses
The US dollar fell vs. several of its main currency rivals yesterday, including the euro and British pound. Investors began shifting their funds away from the ...
Title:
Dukascopy Afternoon Forex Overview : 26/04/2012
Fundamental Analysis
EUR
Deutsche Bank, the German biggest lender posted a 33% drop in its first quarter profit, citing debt crisis as a negative force that curbed trading. Net income declined to EUR 1.38 billion (USD 1.82 billion) compared to EUR 2.06 billion in the same period last year. Economists questioned by Bloomberg expected the profit to decrease less to EUR 1.56 billion. Deutsche Bank shares have added 16% this year.
USD
Crude oil fluctuated close to a one-week record high as Fed claimed they expect the economic growth to advance, encouraging the speculation that fuel demand will increase. Moreover Iran announced it may stop its nuclear expansion. June crude traded at USD 104.07 a barrel after climbing USD 0.57 yesterday. Brent oil to be delivered in June traded at USD 119 a ...
Title:
US Home Sales Figure Set to Generate Volatility
The euro was able to maintain its recent bullish trend throughout the European session yesterday, as investors continued to support riskier assets as a result of strong euro-zone debt auctions earlier in the week. Turning to today, traders will want to pay attention to a batch of US news, including the weekly Unemployment Claims figure and Pending Home Sales. With both figures expected to signal growth in the US economy, the dollar may be able to recoup some of its recent losses.
Economic News
USD - US Data May Help Dollar Today
The US dollar was bearish throughout European trading yesterday, as positive euro-zone news from earlier in the week led to increased risk taking among investors. The EUR/USD reached as high as 1.3235 during the morning session. Overall, the dollar dropped some ...
Title:
Technical analysis of the USD/CAD pair on April 26th, 2012
Commentary of the USD/CAD pair :
The pair USD/CAD has continued its bearish movement and the breakout of 0.9866 gave us a new sell signal.
All indicators are bearish.
The pair is currently testing the lower band its bearish channel (purple lines).
We continues to advise short positions as far as 0.9910 is resistance.
The breakout of 0.98 will give a new sell signal and open the way towards 0.9750.
In case of return above 0.9910, we will wait the breakout of 0.9950 to advise long positions.
See the previous analysis of the USD/CAD pair of April 25th, 2012
USD/CAD Analysis
Title:
Dukascopy Morning Forex Overview : 25/04/2012
Fundamental Analysis
EUR
"Equities are stronger than in the fall, as central banks have moved to support the market with liquidity and removing the structural risks to banks"
- Hans Peterson, the chief investment officer of SEB Private Bank
Industrial new orders in the euro zone declined by more than forecast in February, Eurostat data showed on Tuesday. Orders decreased by a seasonally adjusted 1.3 per cent, after declining 2.9 per cent in January.
USD
"Overall, consumers are more upbeat about the state of the economy, but they remain cautiously optimistic"
- Lynn Franco, director of the Conference Board Consumer Research Center
U.S. consumer confidence declined in April as consumers became slightly less optimistic on the outlook of the country’s economy, the Conference Board Inc. ...
Title:
EUR Recovers Following Successful Debt Auction
The euro staged a slight recovery against the US dollar yesterday, following a successful Dutch debt auction which calmed investor fears regarding the recent political turmoil in Holland. After tumbling over 100 pips earlier in the week, the EUR/USD was once again above the 1.3200 level during the afternoon session. Turning to today, traders will want to pay attention to US news, including the FOMC Statement, FOMC Economic Projections and FOMC Press Conference. Any mention of future quantitative easing measures could cause the US dollar to take losses during the second half of the week.
Economic News
USD - FOMC Economic Projections Could Lead to Market Volatility
The US dollar saw slight bearish movement yesterday, following positive euro-zone news that led to an increase in risk taking ...
Title:
Technical analysis of the USD/CAD pair on April 25th, 2012
Commentary of the USD/CAD pair :
The pair USD/CAD continues its bearish movement and is going to test the support at 0.9866.
All indicators are bearish.
The pair is still moving into its bearish channel (purple lines).
We continues to advise short positions as far as 0.9934 is resistance.
The breakout of 0.9866 will give a new sell signal and open the way towards 0.98.
In case of return above 0.9934, we will wait the breakout of 0.9980 to advise long positions.
See the previous analysis of the USD/CAD pair of April 24th, 2012
USD/CAD Analysis
Title:
Brent steady under $119, supply worries aid; Europe eyed
Brent oil steadied near $119 a barrel on Tuesday, as a production stoppage in the North Sea and potential supply disruptions from Iran kept prices off lows hit in the previous session amid concerns about a euro zone crisis.
The benchmark crude fell below $118 on Monday in a broad-based decline across equities and commodities fueled by growing economic and political risks in the debt-ravaged euro zone, before bouncing back on supply woes.
Brent crude eased 12 cents to $118.59 a barrel by 0612 GMT, while U.S. crude was down 13 cents at $102.98.
Investor sentiment remained fragile, after data on Monday showed the euro zone's business slump deepened at a quicker pace than expected in April, indicating the region will stay in a recession through the second half of the year.
"The whole macro ...
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