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Dollar Fell SlightlyTitle:
Jobless data suggests slowdown in job creation
(Reuters) - The number of Americans claiming unemployment benefits for the first time fell only slightly last week, dampening hopes of a pick-up in job creation in April after March's slowdown.
Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 386,000, the Labor Department said on Thursday. The prior week's data was revised to show 8,000 more applications received than previously reported.
The four-week moving average for new claims, considered a better measure of labor market trends, rose 5,500 to 374,750.
Economists polled by Reuters had forecast claims falling to 370,000 last week.
"The number suggests that improvement is slowing down," said Subodh Kumar, chief investment strategist at Subodh Kumar & Associates in Toronto.
Stock index futures ...
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Euro falls for 3rd day on nagging funding worries
(Reuters) - The euro fell for a third straight session against the U.S. dollar on Thursday despite a decent Spanish bond sale as investors remained skeptical about funding issues in the euro zone.
The euro also tracked the rise in credit default swaps and the widening of yield spreads between the safe-haven German bunds and peripheral fixed income debt, suggesting growing nervousness about liquidity in the financial system and sustainability of the region's debt.
"This is all emblematic of the fact that the market remains very nervous about the state of credit in the euro zone," said Boris Schlossberg, director of FX research at GFT Forex in Jersey City.
"Despite the fact that we had a decent Spanish bond auction, there is just basic skepticism not only about the sovereign debt market ...
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Brent oil rises on risk outlook, Spain auction
(Reuters) - Brent crude oil gained on Thursday, bouncing from a two-month low set the previous session, as a Spanish bond auction attracted strong investor demand, alleviating some concerns about the health of the euro zone economy.
Spain's Treasury issued 2.5 billion euros ($3.3 billion) in two- and 10-year bonds on Thursday at the top end of the targeted amount, although yields ticked higher than at the previous January auction.
Brent June crude gained 93 cents to $118.90 a barrel at 9:52 a.m. EDT (1352 GMT) after hitting $116.70 in the previous session, its lowest in more than two months.
May crude fell 6 cents to $102.61, after falling more than a dollar in the previous session. The May contract expires on Friday.
Some investors saw recent sharp falls as a good buying opportunity.
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YouTradeFX Daily Market Analysis : 19/04/2012
Fundamental News
Today’s highlights:
Initial Jobless Claims (U.S. 12:30 GMT)
Existing Home Sales (U.S. 14:00 GMT)
BoC Gov Carney Speaks (CAD, 11:10 GMT)
Spanish 10-Year Obligation Auction (Spain, 08:30 GMT)
In the week ending at April 13, crude oil stocks in the US rose by 3.856M, almost the triple of general consensus of 1.363M. The week before, oil stocks had grown by 2.791M. Moreover, US mortgage applications increased by 6.9% in the week ending at April 13, after dropping by -2.4% in the previous week. According to an article published by Bloomberg, Sales of previously owned U.S. homes probably increased in March as a drop in mortgage rates propelled demand to its strongest quarter in almost two years. Purchases climbed 0.7 percent to a 4.62 million annual rate from ...
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Japan's trade deficit pulls the Yen lower for the third consecutive day
The Asian session today saw the Japanese yen resume the weakness for the third straight day against the dollar and major currencies, amid the expectations for a looser monetary policy by the BOJ in order to support the economy and fight deflation.
The Japanese yen declined for the third day against dollar, where the USD/JPY traded near the highest in week at 81.53 after opening at 81.30 and recording a low of 81.25.
Meanwhile, the Japanese economy recorded a trade deficit in March after recording a surplus in February, which negatively affected the Yen to reach the lowest in two weeks against Australian dollar at 130.66.
The Australian dollar slightly declined against the dollar amid fears over the outlook for the Chinese economy.
AUD/USD pair fell to the low of 1.0348 after recording ...
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Dollar Back On Spot As Spanish Debt Fears Ease, IMF Upgrades Growth Outlook
The Greenback is back on the spot on Wednesday, boosted with less safe-haven appeal amid what seems to be an eased debt worries in the 17-bloc euro area, however worries are out there ahead of Spain's upcoming bond auction.
Amid a lack of major fundamentals from the world's largest economy but with yesterday's boost from the International Monetary Fund and its upgrade for global growth outlook, The USDIX, which tracks the U.S currency against six of it's most-traded peers, rose to 79.76 from 79.65.
Gold price lacked upside support as the dollar rose on Wednesday, as the metal fell for the third day trading around $1641.40 an ounce from $1669.72. Crude oil for May 12 delivery fell to trade around $102.70 a barrel from $104.26, slightly above the $102.20 daily low after printing an $104. ...
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Euro slips for a 2nd day vs. dollar as Spain weighs
(Reuters) - The euro fell for a second straight session on Wednesday as euro-zone debt worries mounted one day ahead of a bond sale in Spain, seen as a test of Madrid's capacity to grapple with financial and budgetary pressures.
Spain is the fourth largest euro-zone economy, and some investors worry its financing troubles could lead to problems in healthier economies in the region.
The euro was further pressured by a rise in sterling, which posted the biggest gains among the major currencies. The British pound rallied after minutes showed the Bank of England expressed concern that high inflation could persist into the medium term. One BoE policymaker, for instance, dropped his long-standing call for more stimulus.
The fall in Spanish shares also weighed on the euro. Some strategists ...
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GBP Outperforms, CAD Higher ahead of Monetary Policy Report
GBP Outperforms, CAD Higher ahead of Monetary Policy Report
USD is mostly firmer against its G10 counterparts and the dollar index has rebounded from the base of its daily ichimoku cloud. Range trading is likely to continue while the DXY stays within its cloud which sees the base and top around 79.50 and 79.95 respectively. The only data release of note today was weekly mortgage applications which rose by +6.9% from the prior -2.4% as the decline in borrowing costs (30-year rate fell to match a record low 4.05%) resulted in refinancing. The UST yield curve is flatter with 10-year Treasury yields remaining below the 2.00% level while 2-year yields are slightly higher and US equity futures are pointing to a negative open. The buck is currently strongest against the JPY and weakest against ...
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Spanish debt sale, German data bring relief
(Reuters) - Spanish borrowing costs jumped at a debt auction on Tuesday but the sale went smoothly and German data gave an upbeat reading of the euro zone's largest economy, providing some relief to investors worried about the debt crisis.
The euro and European shares rose and Spanish 10-year bond yields fell further below six percent, a key level breached on Monday.
Investors fear Spain's economic problems will reignite Europe's troubles; a break in a country's debt yields above 6 percent has in the past accelerated the rise in borrowing costs to unsustainable territory.
But Spain sold 3.2 billion euros of 12- and 18-month Treasury bills, slightly above its target, although yields were higher than at the last sale and analysts said the success was largely due to the participation of ...
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