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Data Hit MarketsTitle:
Euro, stocks gain on Greece bailout hopes
(Reuters) - The euro hit an eight-week high against the dollar on Tuesday, helping lift stocks and commodities on signs a Greek bailout agreement was near, but the rally paused after a key meeting on Greece was postponed by a day.
The euro rallied after Greece appeared to be close to terms on a 130-billion-euro bailout. A government official said Athens was drafting a list of painful reforms to clinch a new financial package, moving it a step closer to a deal that is needed to avoid a chaotic ...
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Wall St edges up as Greece draws up bailout terms
(Reuters) - Stocks edged higher on Tuesday as investors awaited the outcome of discussions on a bailout package for Greece that is critical to the country avoiding a chaotic default.
Greek officials worked on the draft of a text on the 130-billion-euro bailout plan that will be put to political leaders for approval while strikers protesting against more austerity tussled with police outside parliament.
A light U.S. economic calendar this week shifted investor focus back to the euro zone. With ...
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Dukascopy Afternoon Forex Overview : 07/02/2012
Fundamental Analysis
EUR
17-nation currency slipped against most of its peers before Greece's PM Papademos meets with politicians from three leading parties as officials still cannot agree on debt reduction plan. The meeting scheduled on Tuesday. Greece representatives and creditors still have to agree on EUR 600 million of fiscal measures for this year. Euro declined 0.2% to USD 1.3109 in London trade. Currently EUR/USD is trading at USD 1.3116.
USD
US President Obama ordered to freeze all ...
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Gold rebounds as draft Greek deal lifts euro
(Reuters) - Gold prices bounced back into positive territory on Tuesday, paring earlier losses in line with a rallying euro after a Greek official said the government is drafting an agreement on a second bailout.
Spot gold was up 0.3 percent at $1,723.89 an ounce at 1502 GMT (10:02 a.m. EST), having earlier fallen as low as $1,709.29 an ounce, while U.S. gold futures for February delivery were up $1.70 at $1,726.60.
A Greek government official said Greece's government is preparing the text of ...
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Greek talks check euro, results hit shares
(Reuters) - The euro was underpinned on Tuesday by hopes a way would be found to push through a second bailout deal for Greece, though fresh signs of exposure to Europe's economic troubles among leading banks rekindled investor unease, sending shares lower.
U.S. stock index futures pointed to the unresolved Greek deal weighing on Wall Street at the open, ahead of Senate testimony from Federal Reserve Chairman Ben Bernanke that may grab the spotlight at 1500 GMT (10 a.m. EST) after last week's ...
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Gold eases towards $1,710/oz
(Reuters) - Gold prices eased towards $1,710 an ounce on Tuesday in line with a softening euro as traders awaited a breakthrough on talks over a second bailout deal for Greece, with its leaders fighting to avoid a chaotic debt default.
Spot gold eased 0.4 percent to $1,712.79 an ounce at 1210 GMT (7:10 a.m. EST), while U.S. gold futures for February delivery were down $10.20 at $1,714.70.
While a retreat in stock markets and the euro kept gold under pressure on Tuesday, the precious metal ...
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Corporate results, Greece hit European shares
(Reuters) - European shares fell on Tuesday, on track for two days of losses, as talks in Greece on a second bailout continued and after some company earnings including UBS (UBSN.VX) and Alfa Laval (ALFA.ST) reflected a slower growth environment in Europe.
Investor sentiment fell as Greek leaders faced crunch talks to secure a fresh bailout package and avoid a messy default, which could cause havoc in the financial markets, although European shares were holding above a major resistance level.
" ...
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Brent hits 6-month high over $116 on Iran, cold
(Reuters) - Brent crude oil rose above $116 per barrel to a six-month high on Tuesday as threats from Iran to ban exports to some European states stoked supply concerns, overshadowing fears that Greece's debt crisis was worsening.
Brent's premium to U.S. crude oil stayed around $19 a barrel, near its highest since November, as a severe wintry weather spread across Europe and as simmering tensions between the West and Iran escalated. But Greece's wrangling over a bailout fund helped cap those ...
Title:
YouTradeFX Daily Market Analysis : 07/02/2012
Fundamental News:
Today's highlight;
· Fed Chairman Bernanke Testifies. (US, 15:00, GMT)
The EUR/USD is trading down at 1.3055 from early 1.3085, having been as low as 1.3028. European trading was a worrisome as investors could not decide what was happening. News from Greece was not promising.
Greece failed to agree on new austerity measures across political parties yesterday, a requirement for the proposed bailout to avoid default in March. There was some progress on bank ...
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