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Data Lifted The EuroTitle:
Oil rebounds on Greece optimism
(Reuters) - Crude oil bounced back on Wednesday, as hopes that Greece's debt restructuring will go through lifted the euro against the dollar, creating better bargains for oil buyers and fanning interest in riskier trades.
Also helping oil recover from a sharp drop on Tuesday was data showing an accelerated pace of job creation in the U.S. private sector in February, raising optimism about Friday's U.S. government employment report for that month.
News that China plans to increase energy imports this year, seen leading to a better second half, helped pull up oil prices in early trading.
"The dollar's reversal on the news that more private bond holders are participating in the Greek debt swap has given way to the return of risk-on oil trades," said Addison Armstrong, senior director of ...
Title:
Oil rebounds on Greece optimism, U.S. jobs data
(Reuters) - Crude oil bounced back on Wednesday, as hopes that Greece's debt restructuring will go through lifted the euro against the dollar, creating better bargains for oil buyers and fanning interest in riskier trades.
Also helping oil recover from a sharp drop on Tuesday was data showing an accelerated pace of job creation in the U.S. private sector in February, raising optimism about Friday's U.S. government employment report for that month.
News that China plans to increase energy imports this year, seen leading to a better second half helped pull up oil prices in early trading.
"The dollar's reversal on the news that more private bond holders are participating in the Greek debt swap has given way to the return of risk-on oil trades," said Addison Armstrong, senior director of ...
Title:
Dukascopy Afternnon Forex Overview : 07/03/2012
Fundamental Analysis
EUR
Germany's factory orders unexpectedly slipped in January as overseas demand for machinery and similar investment goods fell. Factory orders lost 2.7% compared to a 1.6% gain in December, said Economy Ministry. Economists questioned by Bloomberg earlier predicted an 0.6% increase. On yearly basis orders have dropped 4.9%. Euro erased morning gains on report.
USD
Republican Mitt Romney, ex-governor of Massachusetts won the primary presidential election in Ohio. Romney gained 38% of votes, followed by former Senator of Pennsylvania Rick Santorum with 37%, Speaker of US house Newt Gingrich with 15% and US Representative Ron Paul with 9% support.
GBP
After a rapid drop of 1.9% in previous session, British FTSE 100 index retreated and climbed 0.5% on Wednesday as ...
Title:
Cautious tone prevails, risk currencies stil vulnerable
Morning Briefing : Cautious tone prevails, risk currencies stil vulnerable
What's new:
Forex: Risk currencies recover from multi-week lows, Aussie weighed by GDP
Global Markets: Global stocks remain under pressure as risk aversion grows
Australia: GDP falls in Q4; hurts Aussie
Euro zone: Uncertainty grows over Greece’s PSI deal
Forex rates in Asia and Indices:
EUR/USD: 1.3111 – 1.3153
USD/CHF: 0.9167 – 0.9191
GBP/USD: 1.5707 – 1.5740
USD/JPY: 80.58 – 80.94
EUR/CHF: 1.2048 – 1.2058
EUR/JPY: 105.70 – 106.40
DowJones: 12'759.15 -1.57%
NASDAQ: 2'910.32 -1.36%
S & P 500: 1'343.36 -1.54%
Nikkei: 9’576.06 -0.64%
Shanghai: 2’394.79 -0.65%
Gold: $ 1’673.80
Crude Oil: $ 105.80
Comments:
Higher-yielding currencies bounced higher from multi-week lows on Wednesday but the Japanese yen remained well ...
Title:
Gold slips below $1,700/oz as dollar firms
(Reuters) - Gold prices slid below $1,700 an ounce in Europe on Monday as weaker-than-expected euro zone economic data lifted the dollar versus the euro, and as appetite for assets seen as higher risk, like stocks and commodities, suffered after China set its lowest annual growth target in eight years.
Spot gold hit a low of $1,693.99 an ounce and was down 0.9 percent at $1,697.09 an ounce at 1037 GMT, while U.S. gold futures for April delivery were down $11.20 an ounce at $1,698.60.
Spot prices fell 3.9 percent last week, their worst weekly performance since mid-December, after Federal Reserve chairman Ben Bernanke gave no further hints, in a key speech, of a third round of quantitative easing in the United States.
"Markets had really hoped for QE3, and that did create a plunge for ...
Title:
Dukascopy Morning Forex Overview : 05/03/2012
Fundamental Analysis
EUR
"It helps prevent a repetition of the sovereign debt crisis"
- Herman Van Rompuy, President of the European Council
All but two of the European Union leaders Friday signed a treaty to adopt strict new rules on national deficits and debts. Only Britain and the Czech Republic did not sign the agreement.
USD
"There’s a lot of room to go in the stock market"
- John Carey, a Boston-based money manager at Pioneer Investments
The Standard & Poor's 500 lost 0.32%, or 4.46 points, to 1,369.63. The Dow Jones Industrial Average slid 0.02%, by 2.73 points, to 12,977.57. The Nasdaq Composite Index dipped by 0.43%, or 12.78 points, to 2,976.19.
GBP
"The improved performance of the construction sector adds to other positive data released on the UK economy"
- Sarah Bingham, ...
Title:
The Weekly Bottom Line : 04/03/2012
The Weekly Bottom Line
HIGHLIGHTS OF THE WEEK
United States
Equity markets reacted with some disappointment on Wednesday after Fed Chairman Bernanke omitted any explicit mention to potential further long-term asset purchases in his semi-annual testimony before Congress.
Progress on the second Greek bail-out and the outcome of the second ECB 3-year refinancing operation had a positive impact on European sovereign bonds, particularly on Italian and Spanish bonds, which saw their 10-year yields dip below 5%.
However, Portuguese sovereign bond yields rose once again this week and everything seems to indicate the country may also require a second bail-out.
Canada
There were few major Canadian data releases for markets to digest this week. This, combined with little headline ...
Title:
Dukascopy Afternoon Forex Overview : 02/03/2012
Dukascopy Fundamental Analysis
EUR
According to State data the number of unemployed in Spain increased to 4.7% million in February or by 112,269 from January. On yearly basis the unemployment level has surged by 412,835. With current monthly jobless rate of 23.3% Spain is maintaining the unemployment record high among 27 EU member countries.
USD
Dow Jones Industrial Average has lost 0.04% since opening, driven down by Travelers Cos Inc. with -1.35% and Coca Cola Co with -0.78%. Exxon and Chevron, major oil companies are losing 0.85% and 0.55% respectively on Saudi oil pipe speculation.
GBP
Barclays revealed that it borrowed EUR 8.2B from the ECB through central bank’s LTRO. Thus, Barclays has become the third bank after HSBC and Lloyds that had accepted the low-interest loan ...
Title:
World stocks, oil rise on data, ECB cash injection
U.S. and European stocks rose on Thursday, lifted by more encouraging U.S. economic data and a massive injection of cash by the European Central Bank, while crude oil rose on the demand outlook and potential supply disruptions related to Iran.
U.S. stocks opened higher despite news that Americans filed fewer new claims for jobless benefits last week. But consumer spending was flat in January for the third straight month after accounting for inflation, clouding the economic outlook.
European stocks rose almost 1 percent, led by bank shares benefiting from the ECB's latest liquidity boost. A dip in Spanish borrowing costs fueled hopes the worst of the euro zone crisis is over.
But gains were limited as key benchmark indexes in Europe and on Wall Street failed to convincingly break above ...
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