Currencies And Commodities Attempting

Fundamental Analysis EUR Concern about Greece "is a big weight on the market and makes things uncertain" - Emmanuel Soupre, a fund manager at Neuflize Private Assets European stocks tumbled on Wednesday, after rising by the most in a month on Tuesday, on speculation Greece may exit the euro zone. USD "It’s very clear now that the housing market has turned a corner" - Richard DeKaser, deputy chief economist at Parthenon Group LLC Sales of new U.S. homes rose by more than expected in April, Commerce Department data showed on Wednesday. Purchases increased to an annual rate of 343,000, up by 3.3 per cent from a revised 332,000 in March. GBP " employment remains fragile and wage growth weak" - Ross Walker, chief U.K. economist at Royal Bank of Scotland Group U.K. retails sales declined by ...

Fundamental Analysis EUR "The rally is mostly technically driven after we became quite oversold last week." - Raimund Saxinger, a fund manager at Trust Investment GmbH European stocks rose by the most in a month on Tuesday. The Stoxx Europe 600 Index gained 1.91 per cent to 244.76. Germany’s DAX Index edged higher 1.65 per cent and France’s CAC 40 Index added 1.88 per cent. The U.K.’s FTSE 100 Index rose 1.86 per cent to 5,403.28 USD "People are becoming more confident about job prospects and about taking on mortgages." - Millan Mulraine, a senior U.S. strategist at TD Securities Inc. U.S. existing home sales rose in April to an annual rate of 4.62 million from 4.47 million in March, said the National Association of Realtors. GBP "These figures give the Monetary Policy Committee ...

Fundamental Analysis EUR "Inevitably there is going to be an element of bargain hunting as investors look to top up their holdings on the basis of slightly lower prices" - Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers European stocks edged higher on Monday on China’s pledge to boost growth. USD "Equity prices have gotten oversold" - Mark Luschini, chief investment strategist for Janney Montgomery Scott LLC U.S. equity market edged higher on Monday on China stimulus hopes and after German and French officials said they would cooperate to keep Greece in the monetary union. GBP "Obviously, as the euro depreciates, the U.K. gets slightly more expensive" - Miles Shipside, Rightmove commercial director U.K. national house prices stagnated in March, announced the ...

Fundamental Analysis EUR "Industrial producion is a imely reminder that firstquarter GDP will likely show a contracion." - Marin van Vliet, an economist at ING Industrial producion in the Eurozone contracted unexpectedly in March, Eurostat data showed on Monday. Producion fell 0.3 per cent from February, when it rose 0.8 per cent. USD "The fear factor is definitely higher." - Madelynn Matlock, a fund manager at Hunington Asset Advisor U.S. stocks retreated on Monday on a poliical impasse in Greece. GBP "I can’t see even after the next Greek election a government appearing that will be able to do anything else than perhaps manage the Greek exit." - Simon Sole, chief execuive officer of Exclusive Analysis Ltd. U.K. stocks tumbled on Monday. The benchmark FTSE 100 Index fell 1.97%, or ...

Fundamental Analysis EUR "There’s a bit of risk back on after some positive company numbers helped stocks and improved the tone of the markets" - Eric Wand, a fixed-income strategist at Lloyds Banking Group Plc Demand for Spanish and Italian debt rose, pushing Spanish and Italian bonds higher, as investors turned to higher-yielding assets after companies from Apple to Swedbank reported better than forecast earnings. USD "The committee expects economic growth to remain moderate over coming quarters and then to pick up gradually" - Federal Open Market Committee U.S. durable goods orders tumbled below forecast in March, a sign the manufacturing sector may be losing momentum. Bookings for long lasting goods dropped 4.2 percent, said the Commerce Department on Wednesday. GBP " could be ...

Fundamental Analysis EUR "The debt crisis is far from over still and I think Spain will be worse before it gets better" - Henrik Drusebjerg, a senior equity strategist at Nordea Bank AB Spain sold 2.54 billion euros of debt dated 2014 and 2022 on Thursday, above the target range of 1.5 to 2.5 billion euros for the auction. USD "Progress in the labor market is not quite as strong as people had hoped, but we are still on a recovery track here" - Scott Brown, chief economist at Raymond James & Associates Inc. The number of Americans claiming for unemployment benefits declined by 2,000 to 386,000 in the week ended April 14 from the week before, said the Department of Labor on Thursday. GBP "Economic data does look like it is showing some stabilization" - Samantha Fitzpatrick, senior ...

Technical Analysis EUR/USD "Raising the size of the euro zone bailout fund will be supportive for the euro, although the market is already aware of it" - JP Morgan Private Bank (based on CNBC) Rally of EUR/USD is unlikely to appear on the chart on the occasion of the fact that a number of significant resistances are located in close proximity of the current price - 1.3379, 1.3435 and 1.3487. EUR/JPY "The worse-than-expected Tankan survey seems to be fueling talk that the BOJ will ease policy further" - Forecast Pte (based on Bloomberg) Despite a recent failure of EUR/JPY to overcome resistance at 111.57, the currency couple is anticipated to make another attempt to breach it. GBP/USD "The expectation from the OECD that the UK is about to fall into another recession makes quantitative ...

Dukascopy Technical Analysis EUR/USD "The euro has been on a firm footing. Should European finance ministers agree to beef up the rescue fund, the euro may get a bit firmer." - Mizuho Securities Co. (based on Bloomberg) The pair remains pretty resilient after the S&P announcement Greece might require another bailout package to restructure its debt and is capable of approaching the recent high at 1.3449. EUR/JPY "European Union discussions on the scale of the ESM (European Stability Mechanism), the Spanish government's 2012 budget plan and the China PMI figure... ahead of this, as well as all the U.S. data, the market is cautious." - SMBC Friend Securities (based on CNBC) As anticipated, EUR/JPY slipped lower yesterday ahead of the 111.57 level (intervention high). GBP/USD "With the UK ...

Dukascopy Technical Analysis EUR/USD "With concerns about global growth now weighing on sentiment, the single currency seems to behave like a proper funding currency should do—it rallies against risk-correlated currencies. We suspect that this should remain the case in the near term" - Citigroup (based on Reuters) The pair is attempting to advance further and it is likely to test the 7-month high at 1.3457. EUR/JPY "Over the short term, there appears to be little to jolt markets out of their stupor and if anything, is likely to continue to drift higher according to our short-term quantitative models" - Credit Agricole (based on MarketWatch) A fierce resistance lies ahead of EUR/JPY at 111.57 (intervention high). If EUR/USD fails to advance higher, it will commence a slide back towards ...