Bullish Bias Persists

Fundamental Analysis EUR Germany's factory orders unexpectedly slipped in January as overseas demand for machinery and similar investment goods fell. Factory orders lost 2.7% compared to a 1.6% gain in December, said Economy Ministry. Economists questioned by Bloomberg earlier predicted an 0.6% increase. On yearly basis orders have dropped 4.9%. Euro erased morning gains on report. USD Republican Mitt Romney, ex-governor of Massachusetts won the primary presidential election in Ohio. Romney gained 38% of votes, followed by former Senator of Pennsylvania Rick Santorum with 37%, Speaker of US house Newt Gingrich with 15% and US Representative Ron Paul with 9% support. GBP After a rapid drop of 1.9% in previous session, British FTSE 100 index retreated and climbed 0.5% on Wednesday as ...

Fundamental Analysis EUR Germany's factory orders unexpectedly slipped in January as overseas demand for machinery and similar investment goods fell. Factory orders lost 2.7% compared to a 1.6% gain in December, said Economy Ministry. Economists questioned by Bloomberg earlier predicted an 0.6% increase. On yearly basis orders have dropped 4.9%. Euro erased morning gains on report. USD Republican Mitt Romney, ex-governor of Massachusetts won the primary presidential election in Ohio. Romney gained 38% of votes, followed by former Senator of Pennsylvania Rick Santorum with 37%, Speaker of US house Newt Gingrich with 15% and US Representative Ron Paul with 9% support. GBP After a rapid drop of 1.9% in previous session, British FTSE 100 index retreated and climbed 0.5% on Wednesday as ...

Fundamental Analysis EUR "The euro zone is far from out of the economic woods and faces a hard slog to get back to sustained growth" - Howard Archer, economist at IHS Global Insight European services and manufacturing output unexpectedly shrank in February, reviving fears the 17-nation currency bloc is heading towards a recession. USD "I don’t think we’re seeing a full-fledged recovery in housing" - Michelle Meyer, a senior economist at Bank of America Corp. U.S. home sales rose in January to the highest level since May 2010, a sign the housing market is regaining its footing. GBP "Recent data on the domestic and international economies had on balance been more positive than might have been anticipated towards the end of 2011" - Monetary Policy Committee members Monetary Policy ...

Fundamental Analysis EUR "There is at least still sufficient demand for goods ‘made in Germany’ to keep the industrial engine running in 2012" - Carsten Brzeski, senior economist at ING Group German factory orders increased more than expected in December as demand from overseas helped the euro zone’s largest economy to weather the debt crisis. Orders rose 1.7 per cent, after declining 4.9 per cent in November, said the Economy Ministry on Monday. USD "You wonder when people are going to look beyond Greece to the real issue, which is Italy" - Jeffrey Sica, president and CIO of Sica Wealth Management U.S. stocks declined on Monday, snapping a three-day winning streak, after the meeting of euro zone ministers was postponed because of Greek reluctance to commit to reforms. GBP "If the UK ...

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 ...

Expert commentary "In 2011/12 any recession is likely to come from extreme weakness in the US and European economies" - Mark Crosby After a severe financial collapse witnessed in 2008 the global economy is yet again experiencing slow growth. The media headlines are full of a new recession forecasts. In this relation, Dukascopy has interviewed an expert in Economics, Dr. Prof. Marc Crosby, Professor of Economics at S P Jain Center of Management in Singapore. Read more: FULL REPORT - Market expectations Fundamental market overview EUR French consumer spending unexpectedly slid 0.5% in September mainly due to European debt turmoil. Analysts had expected an increase of 0.1% after 0.2% in August. French CAC 40 and German DAX are on the negative side today, and have lost 0.73% and 0.17% ...

Expert commentary "We do not expect a full blown recession as ourbase case but it is certainly conceivable" - Chris Walker, Foreign Exchange Strategist at UBS After 2-3 years of humbled growth since the breakdown of the previous deep economic downturn, the media headlines are again full of a new recession forecasts. In this respect, Dukascopy has interviewed an expert in finance, Chris Walker, Foreign Exchange Strategist at UBS in London and received his exclusive opinion on the possibility of a new global recession. Read more: FULL REPORT - Market expectations Fundamental market overview EUR German import prices gained 0.6% in September after a slide of 0.7% in August. Experts had a consensus view of 0.5% increase over the September data. German DAX gained 0.96% and French CAC ...

The Japanese yen (JPY) was pushed back yesterday, as the Bank of Japan (BOJ) unveiled a new fund of approximately $100 billion in order to curb the rising strength of the island currency. With Wednesday's move by the BOJ, the future of the yen's strength is as yet undetermined, but will likely adopt a bearish overture in the next few days. Economic News USD - USD Moderately Lower as EUR Bounces The US dollar (USD) was seen trading moderately lower at yesterday's close after a day of mixed news from the global economy. Weak gains seen on the USD this week was offset yesterday after the stock rebounds led to minor returns of portfolio diversification. So far, this action has pushed investors back into the value of the euro (EUR), sapping safe-haven appeal from the greenback for the time ...

Forex News and Events: Friday marked another volatile day for traders, as continuing equity market weakness pushed USDJPY to fresh record lows of 75.96 and gold surged to new all-time highs. At the start of this week, USDJPY’s moves have been countered by renewed verbal intervention from Finance Minister Noda, but gold’s rally has continued unabated, hitting $18950 in early European trade today and looking very likely to threaten $1900 in the coming sessions. European stock markets have tentatively reversed their early losses but sentiment remains extremely fragile; with no data releases scheduled today and a light calendar in the rest of the week, focus now turns to Fed Chairman Ben Bernanke’s speech at Jackson Hole on Friday. Most expect that he will simply emphasize the US commitment ...