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Dollar Closed HigherTitle:
Global stocks, euro slip on weakening growth
(Reuters) - U.S. stocks and the euro edged lower on Thursday as data suggested Europe's debt woes were spreading and worsening a global economic slowdown.
In a volatile session, investors looking for bargains earlier bought equities, oil and gold which have been battered this week by worries Greece would leave the euro zone. But the buying of growth-oriented assets faded as worries about the euro zone's drag on the world economy returned.
Stocks and other riskier assets turned negative as disappointing data from Europe, China and the United States compounded concerns about the economic contraction moving across Europe.
Amid speculation of more coordinated efforts from major central banks to stem further deterioration of the euro zone debt crisis, bond yields of Spanish, Italian and ...
Title:
Doubts over EU summit send shares, euro lower
(Reuters) - World shares fell and Germany sold two-year bonds paying virtually no interest on Wednesday as investors shunned riskier assets, doubting that any new measures to tackle the euro zone debt crisis would emerge from a European leaders summit.
Concerns the latest EU summit could be a failure sent the euro to a 21-month low, put an end to a rally in European equities, and sent yields on Spanish and Italian bonds higher.
But investors bid strongly at an auction of safe-haven two-year German government bonds resulting in a yield of just 0.07 percent, while the dollar, measured against other major currencies .DXY hit a high not seen since September 2010.
The leaders are expected to discuss boosting growth at their meeting later on Wednesday and the idea of a joint euro zone bond. ...
Title:
Gold falls as euro stumbles ahead of EU summit
(Reuters) - Gold eased on Tuesday under the weight of a weaker euro, while platinum shrugged off news of fresh disruption to production at South Africa's largest miner of the metal.
The euro remained clear of last week's four-month lows but was stuck in negative territory against the dollar ahead of an informal meeting later this week of European leaders aimed at discussing ways of stemming the debt crisis.
Across the broader markets, European blue-chip shares clung on to their gains, lifted by investors buying back some of the more heavily-sold names, while modest optimism that the summit could offer some interim solution to the crisis put pressure on safe-haven German Bunds.
Spot gold was down 1.0 percent at $1,576/26 an ounce by 6:15 a.m. EDT (1015 GMT). The price is still showing ...
Title:
Dukascopy Morning Forex Overview : 22/05/2012
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 ...
Title:
Facebook IPO Fails to Make a Dent in the Marketplace
Following weeks of speculation regarding how Facebook's debut on the New York Stock Exchange would turn out, investors were mildly disappointed with the social media site's performance on Friday night. Facebook closed out the week at 37.96, slightly below its opening price. What direction Facebook takes from here is a hotly debated topic among market analysts. Some are warning that the site may be overvalued already, and Friday's disappointing performance could be a sign of things to come. That being said, any moves by Facebook to expand its already massive subscribership could generate excitement in the marketplace which could help boost the value of this site.
Economic News
USD - Dollar Comes off 4-Month High vs. Euro
The US dollar turned bearish against most of its main currency ...
Title:
Dukascopy Morning Forex Overview : 05/17/2012
Fundamental Analysis
EUR
"We expect euro-region inflation to normalize in 2013"
- Michael Schubert, an economist at Commerzbank AG
Inflation in the seventeen nation bloc eased to 2.6 per cent in March from 2.7 per cent the previous month, said the European Union’s statistics office in Luxembourg on Wednesday.
USD
"Uncertainty about Greece and the effects a potential exit out of the euro would have on Europe, the global economy and the financial system in general is driving investors out of stocks into safe havens"
- Markus Huber, head of German sales trading at ETX Capital
The Standard & Poor's 500 lost 0.44%, or 5.86 points, to 1,324.80. The Dow Jones Industrial Average declined by 0.26%, or 33.45 points, to 12,598.55.
GBP
Unemployment figures are a "welcome step in the right ...
Title:
Negativity persists but shows some signs of consolidation
What’s new:
Asia: US equities closed negatively but Asia eking some gains this morning
Forex: GBP still in the negative after yesterday’s dovish inflation report
Japan: Better than expected GDP growth for Q1
United States: Number of policy makers still ready to take action if growth falters
Rates in Asia and Indices:
Low High Change
EUR/USD 1.2712 1.2749 0.06 %
USD/CHF 0.9421 0.9449 0.06 %
GBP/USD 1.5889 1.5933 -0.08 %
USD/JPY 80.25 80.4 -0.01 %
EUR/CHF 1.2010 1.20125 -0.00 %
EUR/JPY 102.09 102.39 -0.06 %
Dow Jones 12597.34 12722.63 -0.26 %
Nasdaq 2558.69 2597.16 -0.74 %
S&P 500 1324.79 1341.78 -0.44 %
Nikkei 225 8765.71 ...
Title:
Greek worries push euro to four-month low; more losses eyed
The euro hit another four-month low against the dollar on Wednesday and was likely to extend hefty losses sustained so far this month after Greece said it would hold new elections, boosting the risk Athens could exit the euro.
The prospect of prolonged political instability in the debt-ridden country, compounded by skittish sovereign bond markets sent Asian bourses sharply lower, with analysts saying the euro and other risk-sensitive currencies would remain under severe pressure.
A Greek departure from the euro zone would also have a potentially huge knock-on effect on struggling economies such as Italy and Spain, whose bond yields climbed above the crucial 6 percent mark the day before.
"An entry to the euro zone was supposed to be irrevocable. They tore down the bridge so people ...
Title:
Dukascopy Afternoon Forex Overview : 05/15/2012
Dukascopy Fundamental Analysis
EUR
Investors battered European stocks, dumped the bonds of Spain and Italy, and bid the euro down against the dollar Monday after the collapse of weekend coalition talks in Greece edged that country closer to an exit from the euro zone.
USD
Retail sales in the U.S. rose in April at the slowest pace of the year, showing unseasonably mild weather and pre-Easter shopping may have pulled consumers to stores the prior month.
GBP
Governor Mervyn King looks set to leave the door open to more support for the struggling economy when he presents the Bank of England's new economic outlook on Wednesday, which is likely to show a tricky mix of lower growth and higher inflation ahead.
CHF
Swiss stocks lost ground on Monday on concern Greece will exit the Eurozone.
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