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Bond Market And NegotiationsTitle:
Dukascopy Morning Forex Overview : 23/05/2012
Fundamental Analysis
EUR
"The rally is mostly technically driven after we became quite oversold last week."
- Raimund Saxinger, a fund manager at Trust Investment GmbH
European stocks rose by the most in a month on Tuesday. The Stoxx Europe 600 Index gained 1.91 per cent to 244.76. Germany’s DAX Index edged higher 1.65 per cent and France’s CAC 40 Index added 1.88 per cent. The U.K.’s FTSE 100 Index rose 1.86 per cent to 5,403.28
USD
"People are becoming more confident about job prospects and about taking on mortgages."
- Millan Mulraine, a senior U.S. strategist at TD Securities Inc.
U.S. existing home sales rose in April to an annual rate of 4.62 million from 4.47 million in March, said the National Association of Realtors.
GBP
"These figures give the Monetary Policy Committee ...
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Oil falls as IAEA sees deal with Iran near
(Reuters) - Oil fell on Tuesday in choppy trading as indications a deal may be near on Iran's nuclear program eased worries about oil supply disruptions, countering supportive U.S. home resale data.
The U.N. International Atomic Energy Agency's (IAEA) director said he expected to sign a deal with Iran soon, to boost cooperation with the investigation into Tehran's nuclear activity, although differences remained.
U.S. crude fell more approaching the June contract's expiration at the end of Tuesday's session and ahead of weekly oil data expected to show crude stockpiles rose last week in the United States.
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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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Greece worries send euro to 4-month low vs. dollar
The euro fell to a four-month low against the dollar on Wednesday and was poised for more losses after Greece announced it would hold new elections, boosting the risk the country could exit the euro.
The prospect of prolonged political instability and worries about the knock-on effects of a Greek euro exit for struggling economies like Spain and Italy caused investors to flee the euro and seek the safety of the dollar and the yen.
The euro also hit a three-month low against the yen, while the dollar rose to its highest in four months against a basket of currencies.
"The uncertainty around the political situation in Greece continues to undermine risk appetite, which is affecting a range of currencies," said Paul Robson, currency strategist at RBS.
"There is uncertainty around the ...
Title:
Euro crippled by Greek political turmoil
What’s new:
Forex: Euro, risk currencies tumble on worries over Greece
Global Markets: Stock markets plummet on political turmoil in Greece
Greece: Greece set for new elections as President fails to forge coalition
Japan: BOJ may lower interest paid at cash held with central bank; USD/JPY
United States: CPI as expected at 2.3% y/y, FOMC minutes due today
United Kingdom: BoE Quarterly inflation report scheduled for 11:30 CET
Forex rates in Asia and Indices:
Low High Change
EUR/USD 1.2683 1.2738 -0.26 %
USD/CHF 0.943 0.9471 -0.26 %
GBP/USD 1.5949 1.5999 -0.19 %
USD/JPY 80.16 80.45 -0.28 %
EUR/CHF 1.2010 1.20127 0.00 %
EUR/JPY 101.91 102.38 -0.00 %
Dow Jones ...
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Global shares, euro hit as political risks pile up
Uncertainty over the impact of a potential Greek exit from the euro on the debt-laden 17-nation currency bloc drove a rush to safety by investors on Monday, sending the single currency to near four month lows and European shares down 1.5 percent.
Problematic negotiations on forming a new Greek government have increased the chances it will be unable to meet the conditions of its bailout deal, and a worsening fiscal position in Spain has added to the sense of crisis facing the region.
The list of political risks facing the euro area grew on Sunday when German Chancellor Angela Merkel's conservatives suffered a crushing defeat in an election in Germany's most populous state.
"Selling rallies in risk assets seems the best way to make money in most asset classes given the event risk is still ...
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Gold pares some of the losses, yet heading for another weekly decline
Gold pared some of its earlier losses after the release of better than expected U.S. confidence report which improved the sentiment amid the mounting worries from the euro area which pushed the shiny metal to four-month low. However, gold is heading for the sharpest weekly loss since March.
The shiny metal found support at the day`s low of $1570 an ounce to trade around $1588.38 compared to the day`s opening of $1593.45.
A U.S. report released today showed that consumer confidence rose to the highest level in four years to 77. 8 in May compared to the prior and expected readings of 76.4 and 76.0 respectively.
Gold managed to recover some of the losses after the report, yet it will record another weekly decline as the worries from the euro area caused investors to be wary of ...
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The Sterling Pound Drops against the U.S. Dollar ahead of the BoE Rate Decision
With the Bank of England rate decision is just around the corner, the British Royal Currency declined against the low yielding U.S. dollar, on mixed sentiment and thoughts regarding what the Bank of England might do now as the royal economy officially slipped into recession and as inflation is still skyrocketing as well.
The Monetary Policy Committee is projected to leave rates unchanged at 0.5% and the asset purchases program steady at 325 billion pound as the bank still attempts to balance between rising inflation and weakening growth, noting that further cut in the rates is highly unexpected this meeting or this year in general as price pressures prevents policy makers from taking further actions in favor of growth.
The sterling pound declines on slight possibility some of the nine ...
Title:
EUR/USD Testing Key Support
Sunrise Market Commentary
- Fixed Income: new contract highs
- London-traders returned and the market seemed to react with a lag to this weekend's election results. In a risk off session, both the German Bund Future and the US Note Future set new contract highs, respectively at 142.62 and 133-04.
- Currencies EUR/USD testing key support
- On Tuesday, sentiment on the euro remained fragile even as there was little news from the political scene in France or Greece. EUR/USD is again testing the key 1.2974/55 support area. A break below this level would be highly significant from a technical point of view.
The Sunrise Headlines
- US Equities dropped sharply lower yesterday, but reversed most of their losses in the final hours of trading. The S&P ended the session 0.43% lower. ...
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