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Fundamental Analysis EUR "The overall manufacturing trend remains weak." - Pierre-Olivier Beffy, chief economist at Exane BNP Paribas French industrial production fell in March, said the national statistics office Insee on Thursday. Output contracted 0.9 per cent from February, when it gained 0.2 per cent. USD "It’s hard to get nervous that imports are rising." - Dean Maki, chief U.S. economist at Barclays Capital Inc. The number of Americans claiming for unemployment benefits fell to 367,000 in the week ended May 5 from 368,000 the week before, said the Department of Labor on Thursday. GBP "Our forecast is that they are done with QE, but you can’t rule out more later this year." - Ross Walker, an economist at Royal Bank of Scotland Group Plc The Bank of England kept rates on hold ...

(Reuters) - The Australian dollar fell sharply on Tuesday after the Reserve Bank of Australia slashed rates by a deeper-than-expected 50 basis points while soft data nudged the U.S. dollar to a fresh two-month low versus the yen. A sharp fall in business activity in the U.S. Midwest combined with data on Monday showing Spain was in recession dented investor appetite for risk and supported the safe-haven yen, which also rose against the broadly weaker Aussie dollar. Markets had been expecting a 25 basis point rate cut from the Australian central bank (RBA) and the surprise drove the Australian dollar down more than 1 percent to $1.0312 and to a three-month low near 82 yen. The Aussie traded near a five-month low against sterling, which rose above A$1.5700 despite a weaker than expected ...

The euro rose to a one-week high against the US dollar during yesterday's trading session, as positive international fundamental data led to an increase in risk taking. Analysts are warning that overall market sentiment is still bearish toward the euro, and any gains made by the currency may be short lived. Today, traders will want to pay attention to data out of the US, including the Core CPI and Prelim UoM Consumer Sentiment figures. With both indicators forecasted to come in above last month's, the greenback could see gains to close out the week. Economic News USD - Dollar Continues to Fall vs. Riskier Currencies The US dollar extended its recent bearish trend during yesterday's trading session, as positive data out of Australia and China led to an increase in risk taking. The EUR/ ...

The euro saw mild upward movement during yesterday's trading session, as gains in stocks drove investors toward riskier assets. That being said, analysts are warning that debt worries in Spain and Portugal still have the potential to negatively impact the common currency in the coming days. Today, a batch of US fundamental data is forecasted to generate market volatility. Traders will want to pay attention to this week's Unemployment Claims as well as the Trade Balance and PPI figures, all scheduled for 12:30 GMT. Positive news may help the USD recoup some of its recent losses. Economic News USD - Dollar Extends Losses vs. Riskier Currencies The US dollar extended losses against its riskier currency rivals during yesterday's session, including the euro and British pound. The EUR/USD was ...

The euro and the pound slipped against the U.S. dollar and the Japanese yen after the release of worse than expected euro-area manufacturing and services figures in addition to U.K. retail sales report. Euro area manufacturing contracted again in March, according to PMI indicator, as the advanced reading came in at 47.7 from 49.0 in February, lower than estimates of 49.5. Services sector also saw a contraction of 48.7 compared with 48.8 last month and median estimates of 49.2. Accordingly, PMI composite index showed a contraction of 48.7 from a prior of 49.3, below projections of 49.6. Other data from the euro area released today showed that industrial new orders dropped 3.3% in January compared with a revised of -0.4%. Although debt woes eased after the approval of Greece’s second ...

The euro staged a small but significant upward correction during European trading yesterday, following an agreement among euro-zone leaders to set up a permanent bailout fund. The news briefly lifted the EUR/USD above the 1.3200 level, but the pair was not able to sustain its bullish momentum and began falling shortly after. Today, traders can expect heavy volatility in the marketplace ahead of the US ADP Non-Farm Employment Change at 13:15 GMT. A better than expected figure could help the USD in afternoon trading. Economic News USD - USD Takes Losses amid Positive Euro-Zone News The US dollar slipped against its main currency rivals throughout the day yesterday, following positive euro-zone news that led to risk taking in the marketplace. The EUR/USD briefly drifted above the 1.3200 ...

After reaching a six-week high against the US dollar in early trading yesterday, the euro staged a downward correction after Greece once again failed to come to an agreement with its creditors regarding its debt. Today, traders will want to continue monitoring announcements out of the euro-zone, with any further negative news likely to bring the common currency further down. Additionally, economic indicators out of both Germany and France are likely to influence euro pairs today. Economic News USD - Dollar Stages Upward Correction Following Poor Euro-Zone News The USD came off a six-week high against the euro in trading yesterday, after news that Greece had once again failed to come to reach a debt swap deal with its creditors. Earlier in the day, the EUR/USD reached as high as 1.3231 ...

The US dollar closed last week on a bearish note, as it took significant losses against most of its main currency rivals, including the euro and Japanese yen. The dollar began to decline during the middle of the week, following an announcement from the Fed saying that record low US interest rates would likely remain for the next several years. A softer than expected US Advanced GDP figure on Friday only caused the currency to drop further. This week, all eyes will be on the US Non-Farm Payrolls figure. Should the figure come in below expectations, the dollar will likely extend its bearish trend. Economic News USD - USD Looks to Reverse Last Week's Losses Last week's announcement by the Fed that US interest rates would likely remain at their current, near-zero levels until 2014 sent the ...

The dollar advanced against majors amid worries in markets as the negotiations between the Greek government and creditors reached an impasse as Greece rejected 4% interest rate on new loans, claiming that the maximum is 3.5% which was also supported by euro area finance ministers. The U.S. dollar is gaining ground amid concerns of seeing a debt restructuring deal or an orderly default for Greece which has to repay as much as 14.5 billion euros of debt maturing in March. Also, yesterday the IMF slashed global growth forecasts for this year and next to 3.3% from 4.4% and to 3.9% from 4.5% respectively, adding to worries in markets. The IMF highlighted the threats posed from the European debt crisis, where the euro area is predicted to collapse into recession while recording 0.5% ...