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Canadian Dollar GainedTitle:
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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SunBirdFX Daily Market Analysis : 05/17/2012
www.sunbirdfx.com
The US stock markets opened yesterday's trading session with a strong push by the bulls but the concerns regarding Greece pulled the markets to the red zone eventually. The main indices erased 40%-50% of what they gained from the beginning of the year, and things are looking more and more bearish as the days pass by.
AUD/JPY
The Australian dollar keeps falling against the USD and it slid under the psychological support at 1.0. The weakening of the stocks supports the USD and that is why we see it strengthening against most of the major currencies, including the JPY, which is a strong currency these days. The Yen is clearly stronger than the AUD, as it well shown in the daily chart of the pair, which is getting support at 79.50. If the AUD crosses above the 2-days ...
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Loonie Looks Stronger, Employment Data May Weaken Currency
The Canadian dollar gained today as Forex traders showed risk appetite on signs that the situation in Greece is improving and some positive data from the United States. The gains of the currency were limited as tomorrow’s employment data is expected to be rather poor.
European politicians confirmed that Greece is receiving a next round of bailout. There are speculations that the most-indebted European country made progress in forming a new government. US federal budged had its first surplus since 2008. Most news was good today and that translated into demand for riskier assets. Both the Standard & Poor’s 500 Index and MSCI World Index of stocks were up 0.5 percent today.
Canada’s currency profited from the general positive sentiment on the FX market, but is weighed down by poor ...
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Dukascopy Morning Forex Overview : 10/05/2012
Fundamental Analysis
EUR
"The real concern isn’t about Greece, it’s about the euro and whether it breaks up -- that is key."
- Mark Tinker, a fund manager at AXA Framlington Investment EUR Management
European stocks declined on Wednesday as investors awaited resolution of Greek coalition talks and yields on Spanish 10-year bonds rose above 6 per cent.
USD
"Certainly as a result of the elections in Greece, the odds of a default and an exit from the euro have increased."
- James Dunigan, chief investment officer for PNC Wealth Management
U.S. wholesale inventories rose in March at a slowest pace since November, Commerce Department data showed on Wednesday.
GBP
"Consumers, struggling to balance their household budgets, remain reluctant to spend..."
- Stephen Robertson, BRC director ...
Title:
Risk-Aversion Sends the Euro and Sterling South
With the start of the second session this week, tension remains evident in the market as the Greek talks continues for the second day, where so far Greek political leaders are unable to form a government, following the failure of Antonis Samaras, the thing that raised fears regarding the Greek future and existence in the Monetary Union as well, sending high yielding currencies led by the euro and sterling pound south.
The sentiment continues to be negative in the market as Greeks are split over the bailout deal with the European Union and the existence in the euro-area, where major parties in Greece lost significant support as those parties signed the bailout deal with the European Union, which in result mean more austerity and cuts for the Greek nation.
Amid the current political ...
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Loonie Gains vs. Euro, Holds Ground vs. Greenback & Yen
The Canadian dollar climbed against the euro today as declining manufacturing of the eurozone weakened the shared 17-nation currency. Canada’s currency erased losses versus the US dollar and was flat against the Japanese yen.
It is not surprising that the Canadian currency gained against the euro, considering the shrinking eurozone manufacturing and the unexpected growth of German unemployment. Yet it is surprising to see the growth-related loonie to hold ground versus the safe currencies of the United States and Japan, considering the negative sentiment of Forex traders. The slower-than-expected growth of US employment worsened already sour mood of investors, but somehow the Canadian dollar was able to withstand the impact of the bad news.
Bank of Canada Governor Mark Carney was ...
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Dollar regains on haven-demand
The week kicks off with a downbeat tone, we have seen the U.S. dollar paring the losses seen on Friday triggered by markets reconsidering QE3 probabilities. The safe-haven currency gained on dampened risk-appetite, mainly provoked by Spain slipping into recession, as the economy contracted by 0.3 percent in the first quarter; meanwhile, the Canadian GDP showed the country’s economy contracted by 0.2% in February, adding into the overall gloomy scene.
From the U.S., personal spending dropped from 0.9% in February to 0.3% in March, while personal income ticked 0.1 percent higher from 0.3% in February, on the other hand, Chicago purchasing managers index dropped sharply as well printing a 56.2 from 62.2 in February.
The EUR/USD pair pared Friday’s gains after printing a high at 1.3270; the ...
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Canadian Dollar Gets a Boost in Forex Trading
Canadian dollar is getting a boost today in forex trading, receiving some help from disappointing US economic data. Indeed, a lot of the loonie’s gains today are coming as a result of disappointing news, and less about solid advances made by the Canadian currency.
US GDP data for Quarter 1 came in below expectations. Analysts had expected an annualized rate of 2.7 percent, but instead saw 2.2 percent. The disappointment is an indication that economic growth in the United States is slowing. Given that the Federal Reserve policy statement indicated that Ben Bernanke and company are ready to engage in more quantitative easing if necessary, this slowing economic growth is seen as a possibility of more easing.
The result is that the loonie is getting a boost against the greenback. Canadian ...
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Dukascopy Afternoon Forex Overview : 20/04/2012
Fundamental Analysis
EUR
Spain faced increasing borrowing costs during successful sale of bonds with two and ten-year maturity. The country's Treasury sold 1,116 billion Euros of two-year bonds at yield of 3.463% and 1,425 billion Euros in ten-year bonds with yield of 5.743%. Demand for Spain's debt was strong as bids surpassed demand 3.3 times.
USD
The American session also gained from the higher-than-estimated German Ifo business climate reading released today. The increase in stocks was also accompanied by a gain in commodity prices and a decline of treasury yields.
GBP
British FTSE 100 index traded modestly higher on Friday as data showed UK retail sales rallied in March, reaching 1.8% growth instead of predicted 0.4% gain. IMI Plc jumped 1.8% after engineering group reported an ...
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