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Confidence In The Eurozone Was MinusTitle:
Dukascopy Afternoon Forex Overview : 31/01/2012
Fundamental Analysis
EUR
Jobless rate in Germany declined more than expected in January, reaching 20-year record low. The number of unemployed people fell by 34 000, reaching 2.85 million. Economists earlier predicted a decrease between 8000 and 10 000. The adjusted unemployment rate eased from 6.8% to 6.7% indicating Germany is moving towards better performance than rest of Euro Area nations.
USD
The Institute for Supply Management in Chicago reported an unexpectedly low purchasing managers’ ...
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Weekly Economic and Financial Commentary : 07/01/2012
Weekly Economic and Financial Commentary : 07/01/2012
U.S. Review
Great Car, Just Be Sure to Look Under the Hood
Total nonfarm payrolls jumped 200,000 in December and the unemployment rate dropped to a cycle-low 8.5 percent. Coming on the heels of several weeks of improvement in unemployment insurance claims and improving business sentiment, this seems to put an exclamation point on recent firming in the labor market.
To be sure, the job market is healing but we suspect the jump in ...
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Weekly Economic and Financial Commentary : 12/09/2011
Weekly Economic and Financial Commentary
U.S. Review
The Economy Still Faces Core Issues
While it was a fairly light week for economic data, speeches by President Barack Obama and Fed Chairman Ben Bernanke dominated headlines. The president outlined a plan that calls for payroll tax cuts and spending initiatives. Although the proposal could boost growth somewhat, we do not believe it fully addresses the core issues of weak consumer demand and structural unemployment.
Fed Chairman Ben ...
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Weekly Economic and Financial Commentary : 01/07/2011
Weekly Economic and Financial Commentary
U.S. Review
Second Quarter Ends Poorly - Better Times Ahead
Weaker-than-expected consumer spending and income growth for May are causing many economists to further scale back their consumer spending and GDP growth forecasts for the second quarter. Expectations for a second-half growth rebound remain intact, however, although the evidence to date remains scant.
U.S. manufacturing gains remained modest in June if the ISM manufacturing and regional ...
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Weekly Economic and Financial Commentary : 29/05/2011
Weekly Economic and Financial Commentary
U.S. Review
Another Week of Soft Economic Data
The second release of first-quarter GDP growth reaffirmed that the economy grew at a 1.8 percent pace. There was a somewhat stronger-than-expected boost to GDP from inventory building, which was offset by a smaller-than-expected contribution from consumer spending.
Personal income grew 0.4 percent in April, but purchasing power has been eroding due to higher food and energy prices. Real disposable ...
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Forex - EUR Fundamentals Align for Further Upside
In the Forex markets risk appetite remains strong with further encouraging news flowing from the EU. But also worth mentioning is the glaring reversal in bias attached to any EU news. Stories that only two weeks ago would be viewed have EUR negative are now given a positive slant and room to recover. Take the Irish political situation, reports of the ruling coalition’s collapse failed to give markets a start, as FX and yield spreads were unaffected. And while sentiment remained upbeat today ...
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Weekly Economic and Financial Commentary
Weekly Economic and Financial Commentary
U.S. Review
Housing Data Bounces, FOMC Refocuses on Prices
* While we welcome the positive news in residential real estate this week, the percentage gains are made possible by the fact that these measures fell so very far during the recession. The best that can be said of this week's numbers is that markets seem to be finding a new equilibrium in the absence of the homebuyers' tax credit.
* The FOMC has signaled a renewed commitment to ...
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Yen Strengthens vs. Dollar on Increasing Growth Concern
The Japanese yen rose today against the U.S. currency as the growing concern for the global recovery spurs the investors to seek safety, increasing the appeal of the Japanese currency.
The U.S. economy continues to show the sings of the weakness. While the banking sector in Europe looks pretty robust, the manufacturing sector gives the reason for the concern. According to the experts’ estimates, the manufacturing confidence in the Eurozone was minus five in July.
USD/JPY fell from 87.44 to ...
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