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Common Currency EndingTitle:
Positive signs from Europe in January; beating the debt-crisis is still possible
Another positive week for Europe comes to an end; however, we can see the European common currency ended this week with losses as the unexpected cheerful jobs report for the world's largest economy sent the euro to the downside as the U.S. dollar gained momentum on stronger recovery prospects and better projections for economic growth.
This critical week was in focus during the entire sessions, where this week contained the European Summit in addition to the several important fundamentals from major economies along with several bond auctions in Europe, which pulled all the attention and forced investors to remain fully concentrated on the critical events.
This week started with the important European session in Brussels, where European leaders for the first time were able to meet market ...
Title:
US Non-Farm Payrolls Set to Generate Heavy Volatility
Today's US Non-Farm Payrolls figure, widely considered the most significant economic indicator on the forex calendar, is set to generate heavy trading today. At the moment, analysts are predicting that the US added somewhere around 150K jobs in January. Should the final result come in below expectations the USD may come under renewed pressure to close out the week.
Economic News
USD - Negative Euro-Zone News Gives USD Temporary Boost
Fresh concerns regarding Greece's debt negotiations sent investors to safe-haven assets during the beginning of yesterday's trading session. The news resulted in the US dollar recouping some of its recent losses against the euro. The EUR/USD dropped to the 1.3085 level before staging a correction during the evening session. The greenback was not as ...
Title:
USD/JPY Hits 3-Month Low amid Poor US News
The USD/JPY hit a fresh 3-month low today, as worse than expected news out of the US continued to weigh down on the pair. Rumors have begun circulating that the Bank of Japan (BOJ) may soon intervene in the currency market to limit yen growth. Today, traders will want to once again monitor US economic indicators. Specifically, the weekly US Unemployment Claims figure and a testimony from the Fed Chairman are likely to create market volatility.
Economic News
USD - Dollar Continues to Tumble against Main Currency Rivals
The combination of better than expected euro-zone news and a poor US ADP Non-Farm Employment Change figure caused the USD to extend its bearish trend throughout the day yesterday. The EUR/USD shot up well over 100 pips during the European trading session, and once again ...
Title:
Lack of Greek Debt Deal Sends EUR Tumbling
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 ...
Title:
Forecast: No Hope for Euro in 2012?
The euro had a rough time since the recession in 2008. Some people even talked about disintegration of the shared 17-nation currency. Such talks receded in 2010, but returned in 2011, though there are not many analysts who believe in a collapse in the eurozone, at least in the near future. Unfortunately for those traders who want to be bullish on the euro there are not many reasons, if any, to be optimistic about the currency.
The credit crisis in European countries continues to threaten the integrity of the European Union and leaders of the EU have hard time to control it. In fact, many economists point out that some measures are making things even worse. Indebted nations continue to borrow more money for supporting their economies and, even after yields receded from the earlier surge to ...
Title:
Euro hits five-week high on dovish Fed, U.S. data
(Reuters) - The euro notched a five-week high against the dollar on Thursday, extending gains a day after the Federal Reserve signaled ultra-low interest rates for years to come, while U.S. jobs and manufacturing data fed risk appetite and supported the euro.
First-time claims for U.S. jobless benefits rose in the latest week but the underlying trend pointed to improvement in labor market conditions. The government separately reported that orders for U.S. manufactured goods rose more than expected in December.
The U.S. data came the day after Fed policymakers pushed back the likely timing of an eventual interest rate hike until late 2014, 18 months later than previously suggested. Federal Reserve Chairman Ben Bernanke also said the U.S. central bank was ready to offer additional economic ...
Title:
U.K. contracts beyond expectations in the fourth quarter
The sentiment deteriorated in the market today after the gross domestic product figures from the United Kingdom showed that the British economy contracted beyond expectations in the fourth quarter of 2011 for the first time since December 2010, where pessimism dominated the market on fears that the United Kingdom's GDP figures could reflect the effects of the escalating debt crisis in Europe, and in result we expect that the euro-area region most probably contracted in the fourth quarter as well.
Pessimism spread again in the market today after the United Kingdom released the GDP figures for the fourth quarter, where over quarterly basis, the royal economy contracted by 0.2% from the previous expansion of 0.6%, beating median estimates of 0.1% drop. In addition, the annual GDP index ...
Title:
Dukascopy Morning Forex Overview : 25/01/2012
Fundamental Analysis
EUR
"We consider that French banks will be able to maintain their lending activity in their core businesses"
- Standard & Poor’s
Standard & Poor's cut credit ratings of four French banks, a move expected by markets after the credit agency downgraded France's top notch sovereign credit rating on January 13.
USD
"It’s all about the negotiations of Greek debt"
- Mike Ryan, chief investment strategist at UBS Wealth Management America
U.S. stocks fell on Tuesday as investors debated whether a threeweek rally in equities was warranted.
GBP
" shows the unsustainable level of spending this country built up over the past few years"
- A Treasury spokesperson
U.K. budget deficit decreased to 10.8 billion pounds in December from 15.1 billion in November, said the Office for ...
Title:
EUR Reverses Gains despite Strong Manufacturing Data
The euro turned bearish once again in trading yesterday, as investors continued to revert back to safe-haven currencies following the rejection of Greece's debt swap deal. Positive manufacturing numbers from much of the euro-zone were shrugged off, as fears of further fallout from the region's debt crisis continue to dominate market sentiment. Today, traders will want to focus on US data, particularly the FOMC Statement, as it is likely to dictate the direction the market takes.
Economic News
USD - Dollar up Following Increase in Risk Aversion
Fresh concerns over the euro-zone debt crisis caused investors to revert back to safe-haven currencies yesterday, which led to the USD climbing vs. most of its main counterparts. Following the rejection of Greece's debt swap deal, concerns began ...
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