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Day In Europe Is The MinimumTitle:
Dukascopy Afternnon Forex Overview : 13/03/2012
Dukascopy Fundamental Analysis
EUR
European governments urged Spain to implement larger budged deficit cuts to prevent debt crisis from returning to the region. 10 days ago Spanish PM Rajoy unilaterally increased Spain's deficit target to 5.8% of GDP for year 2012 and claimed the country will aim to attain region's common target of maximum 3% in 2013. The announcement was not praised by region's officials who recently signed fiscal discipline treaty.
USD
US federal budget deficit widened more than expected in February, reported Department of the Treasury. The US federal budget balance declined to minus 231.7 billion US Dollars on a seasonally adjusted basis in February as compared to minus 27.4 billion US Dollars in January. Experts predicted the deficit to attain 229.3 billion US ...
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Dukascopy Afternnon Forex Overview : 12/03/2012
Dukascopy Fundamental Analysis
EUR
Nicolas Sarkozy, France's President, said that the country may consider withdrawing for Schengen zone unless more efforts are put in stopping illegal immigration. Sarkozy speaking at President's election rally stressed that the progress has to be made during next 12 months otherwise France will exit Schengen zone. Illegal immigration is expected to be the core issue during elections in France.
USD
Crude oil futures eased down during the Asian session on Monday as traders started to cash out from the market after crude oil moved higher on the positive US labour data. Light, sweet crude oil futures for April delivery traded at 106.92 US Dollars per barrel on the New York Mercantile Exchange, tumbling.
GBP
According to Lloyds Bank Corporate Markets, ...
Title:
Bernanke Rejects A Strong Dollar
Bernanke Rejects A Strong Dollar
The dollar will look to gain momentum from Friday's payroll data and the path of least resistance is a slightly firmer US currency but substantial gains are likely to be effectively blocked by the Federal Reserve. There are three central bank meetings during the coming week and all three currency areas will continue their policies of trying to avoid being the international safe-haven currency of choice.
The Euro-zone has, for now, fended off a Greek default, but structural vulnerabilities will continue to sap the currency. The Swiss franc was the clear choice in the first half of 2011 as it appreciated violently against the dollar and the Euro. The Swiss National Bank cut interest rates effectively to zero and introduced the minimum Euro level of 1.20 ...
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Dukascopy Afternnon Forex Overview : 09/03/2012
Fundamental Analysis
EUR
Greece has announced it has managed to secure the second bailout fund as above 80% of the private bondholders signed up for the debt swap deal. The threshold required by the IMF and the EU is 75%. The deal will allow Greece not to default because of the debts and the country will be able to stay in the Euro Zone.
USD
The unemployment remained at 8.3% last month, indicating a slight stagnation in the US job market. Experts value the jobs data received today in light of yesterday’s jobless claims data at 362 000. February non-farm employment change was at 227K (January reading was revised to 284K).
GBP
UK manufacturing output grew at slower pace than expected in January as inflation harmed demand. Plant output climbed 0.1% compared to December said Office of ...
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Investors Agree to Swap 85% of Greek Debt
Private creditors agreed to exchange 85 percent of their Greek government bond holdings with new securities in the biggest sovereign overhaul in history, aiming to help the debt-troubled nation avert a disorderly default on payments due two weeks from now.
According to preliminary reports and a banker who refused to identify his name, investors with 155 billion euros ($205 billion) of a total 177 billion euros of Greek-law bonds so far agreed to take part in the restructuring Greece requires to win more bailout money and thwart default.
Twelve billion euros not under the Greek-law were tendered as well as 7 billion euros of bond from state-owned companies guaranteed by the government, a banker said today before the offer's close at 10 p.m. in Athens. Still, the number of offers is being ...
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Oil gains a second day on Greek deal, Iran
(Reuters) - Crude oil futures rose for a second day on Thursday as investors cheered progress on Greece's bond swap deal, which moved the beleaguered country nearer to unlocking funds it needs to avoid default.
Tensions between Iran and the West over Tehran's nuclear ambitions provided further support.
U.S. data showed unemployment benefit claims rose last week, but not enough to change the outlook that the labor market was growing stronger. That view helped crude hold gains.
The jobless claims data bolstered expectations that Friday's U.S. government report on how the jobs market fared in February will show a solid rise in payrolls.
Spread trading on Brent and the U.S. crude benchmark West Texas Intermediate also lifted the day's trade.
"Worries of a debt default by Greece eased and ...
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Stocks, euro rally as Greek debt swap offer closes
(Reuters) - Global stocks enjoyed their best day in more than two months on Thursday and the euro rebounded as the deadline on a Greek private debt swap passed with signs the deal would go through, sparing Greece a chaotic default.
Expectations of a solid U.S. payrolls report for February on Friday also fueled appetite for oil and other growth-sensitive commodities and sparked selling of safe-haven U.S. and German government debt.
Greece closed a bond swap offer to private creditors on Thursday after clearing the minimum 75 percent threshold of acceptance to push the deal through, moving closer to secure 130 billion euros in funds it needs to avert a default.
"By Greece avoiding a disorderly default it will remove a key risk hanging over the markets over the next few weeks," said Dan ...
Title:
Dukascopy Afternnon Forex Overview : 08/03/2012
Fundamental Analysis
EUR
Greece has to agree with private bondholders on the debt swap deal until 20:00 GMT on Thursday otherwise the country will fail to fulfill its financial obligations and may leave the Euro Zone. Greece has to agree on the 53.5% reduction in the current debt with not less than 75% of the private investors. Moreover, creditors were asked to lower the interest rate to enable the country to extend repaying period. On Wednesday about 40% of the Greek debt holders opted for the deal, reported the Ministry of Finance.
USD
US markets recovered on Wednesday trade after data showed the number of payrolls climbed and investors anticipated news about possible new type of Fed's quantitative easing. S&P 500 index gained 0.69% or 9.27 points and finished at 1,352.63 with ...
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Dukascopy Morning Forex Overview : 08/03/2012
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 ...
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