Boosts Yen And Commodities

After steadily gaining on the dollar and yen yesterday in overnight trading, the euro once again turned bearish during the European session. Renewed concerns regarding the political situation in Greece triggered the bearish correction. Still, the common currency was able to avoid dropping to the four-month low hit last week. Turning to today, traders will want to pay attention to a batch of British and US economic indicators. Both the British CPI and Public Sector Net Borrowing figures are forecasted to come in well below last month's figures. If true, the GBP could take losses during mid-day trading. Later in the day, analysts are predicting that the US Existing Home Sales figure will show improvements in the American Real Estate sector. If true, the dollar could move up as a result. ...

The US dollar was able to reverse some of its recent losses during the afternoon session yesterday, following the release of the Existing Home Sales figure. While the figure came in below expectations, it was still taken as a sign that the housing market in the US is improving. Turning to today, the marketplace could see some volatility as significant British and euro-zone news is set to be released. Traders will want to note the results of the British Retail Sales figure and a speech from the ECB President. Should either of them turn out to be positive, there may be an increase in risk taking throughout European trading. Economic News USD - Housing Data Boosts Dollar The US dollar saw gains against several of its main rivals yesterday, as investors took recent higher US treasury ...

Gold rose to a three-month high on Thursday and headed for its biggest one-week rally in a month as Europe's bailout deal with Greece lifted the euro, while platinum hit a five-month peak as a damaging strike in major producer South Africa ground on. A stronger euro, coupled with growing concern over the impact on inflation from oil trading above $120 a barrel helped spur a bid for gold ahead of an options expiry later in the day. Spot gold was at $1,775.35 an ounce at 1500 GMT, against $1,775.79 late on Wednesday. It earlier rallied to a high of $1,784.46 an ounce, its strongest since November 15, but failed to maintain traction above $1,780 an ounce. "(We had) technical buying yesterday with a lack of follow-through today despite support from weaker dollar," said Saxo Bank vice ...

(Reuters) - Gold prices climbed more than half a percent on Monday, as investors buoyed by easing moves by China's central bank and hopes for Greece to seal a bailout deal at a meeting with euro zone officials later in the day. An easing monetary stance boosts sentiment in gold by raising the inflation outlook down the road and attracting investors to bullion, a good hedge against inflation. China cut its required reserve ratio over the weekend, joining a number of central banks in relaxing monetary policies to promote economic growth while the euro zone debt crisis continues to overhang the global economy. The optimism on a deal later in the day between Greece and euro zone on the second bailout for Greece sent equities and the euro up, helping support gold. "There is the expectation ...

Dukascopy Fundamental Analysis EUR German court ruled in favor of Apple in the global lawsuit against Apple regarding the technological patents. The court also announced that Samsung will have the opportunity to appelate the court's decision; however, the company has not yet decided Whether the apellation will be submitted. USD Stock futures traded neutrally on Friday, as the company results were awatted by investors. GE and Google Inc. were in the spotlight after rather sisappointing bottom line results presented recently. GBP Office for National Statistics released the UK retail sales data - the sales volumes increased by 0.6% in November-December. The y/y change of retail sales was +2.6%, indicating a decent growth. November retail sales figure was revised to -0.5%. CHF The official ...

The euro was largely up during yesterday's trading session, as positive global data led to risk taking among traders. A successful Spanish debt auction combined with a lower than forecasted US Unemployment Claims were largely responsible for the euro's bullish trend. That being said, analysts are warning that the overall trend for the common currency is still down and that considerably better euro-zone news is needed before a meaningful reversal will take place. Economic News USD - USD Gains vs. JPY Following Unemployment Report The US dollar saw substantial gains against several of its main currency rivals yesterday, following a better than expected US Unemployment Claims figure. The weekly unemployment figure came in at an almost 4-year low and well below analysts earlier ...

A positive element to emerge from yesterday's economic events from the United States was a reduction in the Federal Budget Balance, from a deficit of $150.4B to a deficit of $80.0B. Following this news, the USD began a retracement against its primary counterparts, but has so far only been able to recapture a small percentage of yesterday's market movement. Economic News USD - Shrinking US Deficit Boosts USD in Short-Term Following yesterday's moderate downturn, the US dollar now appears on track to be making positive corrections against most of its currency counterparts in today's trading. The EUR/USD, as of this morning, had already recovered 34 points to trade at the 1.3110 price level. Against the British pound, the USD experienced a similar retracement which was limited in scope ...

(Reuters) - Oil was set to close the year up more than 12 percent and average nearly $80 a barrel -- the second highest on record -- driven by a resurgence in global demand, an unusually cold winter and falling inventories. After rallying to a 26-month high of $91.88 on Monday, U.S. crude edged lower on Friday, with the February contract down 14 cents at $89.70 a barrel by 1:42 a.m. EST. ICE Brent crude fell 10 cents to $92.99. Oil prices were set to average $79.60 this year, second only to 2008's record average of $99.75. U.S. crude stocks fell for the fourth straight week last week, but the drawdown was less than expected and put pressure on prices. Crude stocks in the world's largest economy fell 1.26 million barrels to 339.43 million barrels in the week to December 24, the Energy ...

Last week's session ended with a rather disappointing U.S. Non-Farm Payrolls data as payrolls increased by merely 43,000 in November. As a result, the Japanese yen, and commodities such as gold and crude oil, have rallied. The U.S. dollar on the other hand has tumbled against all the major currencies. Economic News USD - Dollar Closes Last Week with a Bearish Trend The U.S. dollar fell last week against most of its major counterparts. The dollar began last week's trading session with a rising trend, yet by Tuesday the trend has broadly reversed. As a result, the dollar dropped about 450 pips vs. the euro, and about 200 pips vs. the Japanese yen. The dollar's bearishness came as a result of disappointing economic data which was released from the U.S., especially regarding the labor ...