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British Pound DeclinedTitle:
European markets single lower, while eyes are on the EU summit
The tension is evident as the sell-off wave swept the currency market including high yielding currencies, and the European stock futures are back once again to trade lower before the opening today.
The risks of Greece leaving the euro area have become very influential on the markets lately with the expectations that anti-austerity parties will win the elections held on the seventeenth of June.
Investors will be focusing today on the European summit held in Brussels with Greece being the main theme in addition to Spain`s Budget deficit.
The euro drooped from the opining levels that were near the highest levels reached today at $1.2687 and is currently trading at $1.2664. The EUR/USD reached the lowest level today at $1.2643 while it opened at $1.2643.
As for the Great British Pound, the ...
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Japan Policy On Hold, Eyes On BoE Minutes
The euro (EUR) dropped near a 21-month low falling to 1.2645 from 1.2814 against the US dollar as risk aversion dominates the markets. Comments from former Greek Prime Minister Lucas Papademos raised concerns after he said that Greece has two options, stick to a painful austerity program or face a damaging default and a messy exit from the eurozone. Focus now turns to today’s informal EU summit where France is expected to push a proposal of joint eurozone bonds. The idea of joint bonds can help with funding difficulties for some heavily-indebted eurozone countries but that policy has been rejected by Germany before. EU leaders are also expected to focus more on growth and ways to help Greece stay in the euro.
The US dollar (USD) strengthened against a basket of currencies as fears of a ...
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European Markets Set To Open Higher Before The Opening Today
European equities signal a positive start for trading today amid speculations that global economic recovery will be supported by China, after Chinese Premier said yesterday that his country is now in need of an urgent incentive plan, and also not to forget the G-8 meeting over the weekend that focused mainly on supporting the euro area.
The euro drooped from the opining levels that were the highest levels reached today at $1.2818 and is currently trading at $1.2788. The EUR/USD reached the lowest level today at $1.2780.
As for the Great British Pound, the currency is trading lower against the dollar at $1.5820 compared with the opening levels of $1.5834; the pair reached the highest level for the day at $1.5835 and the highest at $1.5808.
As for gold, the commodity is trading slightly ...
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Dukascopy Afternoon Forex Overview : 05/14/2012
Dukascopy Fundamental Analysis
EUR
Industrial production in the 17 countries that use the euro fell unexpectedly in March, leaving little doubt the region contracted for a second straight quarter in the first three months of the year and returned to recession, data by Eurostat showed Monday.
USD
Stocks fell, commodities declined to their cheapest level this year and the euro weakened to a three- month low on concern that Greece will exit the single European currency and after German Chancellor Angela Merkel’s party lost a state election.
GBP
The government, and many economists, say the U.K.'s austerity plan has succeeded in reassuring financial markets that the government is focused on wrestling down the country's debt, which had ballooned to the highest levels since World War II. As a ...
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European stocks index futures fall as fears grow on Greek political problems
European stock futures are back once again to trade lower before the opening on Friday amid the political deadlock in Greece, which affected global confidence levels amid fears of a renewed chapter in the debt crisis.
The Greek socialist party leader Evanglos Venizelos pointed out in his speech yesterday that it is not possible to reach an agreement at the time, but they must continue the efforts.
The largest American bank in the United States JPMorgan Chase posted overnight a surprising trading loss of $2 billion dollars, on complex investments made by its traders, which is weighing heavily on the financial sectors.
The euro moved lower over daily basis trading under the levels of $1.2920 as the pair dropped from the highest level reached during the day at $1.2943 and it is ...
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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 ...
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Retails Sales Drift Down, Sterling Follows
The Great Britain pound fell today after a report showed that UK retail sale declined. The negative data ahead of the policy meeting makes market participants question what actions the central bank will take.
British Retail Consortium reported that retail sales were down 3.3 percent in April from a year ago. In March, an increase by 1.3 percent was registered. The United Kingdom face a double-dip recession and various indicators show it.
The Bank of England will hold a monetary policy meeting yesterday. Analysts are divided in their forecasts of the central bank’s decision. Many experts predict that the bank will keep its interest rates and asset purchase program unchanged. Yet easing of the policy cannot be considered improbable in the light of poor fundamentals.
GBP/USD slipped from 1. ...
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European Futures Fall On Greek Worries
European stock futures signal a lower start before the opening on Thursday continuing the losses seen yesterday before markets rebounded to close in green with slight gains. Concerns are back once again to the markets as the efforts made by the Greek leader of New Democracy Antonis Samaras failed to forge a new government.
The tension is evident in the market especially with the chance to form a government now likely to pass to the second biggest party Syriza, where that is a dread to markets as leader Alexis Tsipras vowed to cancel the bailout terns.
The euro moved lower over daily bases trimming yesterday’s looses, as it dropped from the highest level reached during the day at $1.3065 and it is currently trading at 1.3015 after opening at $1.3048. The EUR/USD reached the lowest level ...
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Dukascopy Morning Forex Overview : 07/05/2012
Fundamental Analysis
EUR
"The U.S. labor-market report will further erode investor confidence"
- Markus Allenspach, head of bond research at Julius Baer Group Ltd.
European stocks extended weekly losses, after a report showed U.S. companies added fewer jobs than expected in April. The Stoxx Europe 600 Index erased 1.76 per cent to 253.00. Germany’s DAX Index tumbled 1.99 per cent and France’s CAC 40 Index contracted 1.90 per cent. The U.K.’s FTSE 100 Index lost 1.93 per cent to 5,655.06.
USD
"We’re still very much on the recovery path, but we’ve got a huge amount of ground to make up in the labor market"
- Scott Brown, chief economist at Raymond James & Associates Inc.
The number of Americans, who have found a job in the private sector in April, tumbled to 115,000 from 154,000 the ...
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