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Driven By A Weaker DollarTitle:
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 ...
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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 ...
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Gold off 4-1/2 month low on increased physical buying
Gold rose more than 1 percent on Thursday, bouncing off a 4-1/2 month low, as weaker prices attracted new physical buyers, but gains were likely to be limited as the euro was undermined by fears of a deepening debt crisis in Greece.
Spot gold rose 1 percent to $1,553.80 an ounce by 09.07 a.m. EDT, from $1,538.30 late in New York on Wednesday, when it plunged to $1,527 - its weakest since December 29.
The precious metal rose to a high of $1,557.56 earlier, helped by the approaching expiry of gold options in the COMEX futures market.
U.S. gold futures hit a high of $1,557.90 an ounce and were at $1,554.30, up 1.1 percent. The contract had plunged to a multi-month low of $1,526.70 on Wednesday.
Gold, traditionally a safe-haven asset, has been moving in tandem with riskier assets such as ...
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Euro zone fears pressure global shares, euro steadies
The euro hovered near four-month lows and European shares extended their losing streak on Thursday, as investors avoided riskier assets due to the deepening turmoil in Greece and fears of contagion spreading to other stressed euro zone economies.
News that some Greek banks face emergency funding needs dealt a further blow to risk sentiment, already beaten down by worries about slower economic growth in China, a fragile U.S. jobs market and a shock trading loss at JPMorgan Chase (JPM.N).
But the downward momentum, apparent earlier in the week when the political turmoil in Greece sparkled a sharp rise in expectations it would leave the euro zone, has eased.
"There is a severe reluctance to take on additional risk in the European region, people are more likely to look at the U.S. and some ...
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Bank of England Quarterly Inflation Report downgrades growth slightly
Mervyn King, the Bank of England`s Governor, represented the quarterly inflation report on behalf of the Monetary Policy Committee, explaining the Bank`s new projections for inflation and growth. The Bank of England sees inflation slowing below 2% in two years, while continued risk of disorderly euro-area outcome forces downside pressures on growth.
The BoE Mervin King while presenting the inflation report said that inflation will remain above the target in the coming year as well, while growth is seen now weaker, compared with the previous projections in February.
However, recovery will gradually return on track, but at the moment higher energy prices and credit conditions hampered the pace of recovery significantly. The royal economy will also continue to face strong headwinds ...
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The Bank of England's Next Move
The Week Ahead
■The Bank of England's next move
■Is this the beginning of the end for the Eurozone?
■Fed officials reluctant to signal more easing
■Broader risk environment outweighs Japanese rhetoric
The Bank of England's next move
The BOE kept rates on hold when it concluded its May meeting last week; it also allowed the asset purchase program to come to an end. Since the UK slipped back into recession in Q1 2012 and the growth figures at the start of the second quarter have continued to look weak, the decision to hold interest rates was mostly down to the sticky outlook for inflation. The attention now turns to Wednesday's Inflation Report.
The focus will be on the Bank's growth and inflation forecasts. The growth forecasts are likely to be revised lower. Even ...
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Australia sees the biggest trade deficit in five years
Australian economy witnessed a widening in its trade balance deficit, the biggest in five years, where imports raised 5% to outpace exports growth in an economy driven by the mining industry.
Australian economy released its trade balance reading for March recording an unexpected deficit of 1587 million Australian dollar revised to 754- million Australian dollar, compared with the previous surplus of 480 million Australian dollar, while the expected was 1300- million Australian dollar.
Imports outpaced exports by 1.587 billion Australian dollar which equal 1.6 billion American dollar from a revised 754 million Australian dollar deficit a month earlier, where today’s reading reflects that the deficit is the widest since May 2008’s shortfall by 1.82 billion Australian dollar.
Moreover, ...
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The Weekly Bottom Line : 04/05/2012
The Weekly Bottom Line
HIGHLIGHTS OF THE WEEK
United States
- U.S. job creation may have weakened in the last few months, but the grounds for sustaining stronger employment growth are more fertile now than have been since the economic recovery began. Europe's labor market, by contrast, is likely to deteriorate further before it gets better.
- Europe's (nonfinancial) corporate sector is highly leveraged. As balance sheet adjustments are made, Europe risks further decreases in investment, higher layoffs, and lower economic growth. These effects are compounded by deleveraging in the public sector.
- U.S. corporations, by contrast, are more profitable and liquid than they have ever been. At some point some of these funds will be unleashed towards new investment, creating a positive ...
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Global shares, euro slip as data casts doubt on recovery
(Reuters) - Asian shares slipped on Thursday and the euro languished near a 2-week low after disappointing economic data from both sides of the Atlantic rekindled concerns about the strength of global growth.
Commodities and the Australian dollar - all sensitive to growth expectations - also struggled as the data put investors on the defensive and limited appetite for riskier assets.
The euro had fallen nearly 1 percent to $1.3122 on Wednesday, and European stocks also dropped, after a survey showed euro zone factories sank further into decline last month, with the downturn hitting Italy and Spain hard and appearing to take root among core members France and Germany. .EU
With recently-downgraded Spain looking to raise funds in the bond market on Thursday, the European Central Bank will ...
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