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Dukascopy Afternoon ForexTitle:
Dukascopy Afternoon Forex Overview : 11/10/2011
Fundamental market overview
EUR
ECB head Trichet said today in a speech that current crisis in Europe is systemic, and claimed it should be solved in a decisive manner. Trichet believes that due to significant interconnectivity of EU financial system, other EU countries are under risk of becoming victims of debt crisis, too. This was Trichet's last appearance in European Parliament before his retirement at the end of October.
USD
Currency forecasters lead by JPMorgan Chase & Co. expect US to fall back in another round of recession, pushing Fed to print even more US dollars. Forecasts are based on most important economic indicators, including job reports, housing data and household incomes. JPMorgan FX strategists claim Fed might consider expanding its balance sheet and commencing asset ...
Title:
Dukascopy Afternoon Forex Overview: 10/10/2011
Fundamental market overview
EUR
German Trade Balance was at EUR 13.8B in August, and has increased significantly since July, when export exceeded import by only EUR 10.8B. Furthermore, Sentix investor confidence was higher than expected in October at -18.5 points.
USD
Second Monday in October is Columbus Day in the US, and banks were closed today. Dow and Nasdaq started with gains today with Dow increasing by 263.46 points of 2.73% and Nasdaq by 74.41 points or 3.00%.
JPY
Nikkei 225 gained 83.60 points or 0.98% today, and closed at 8605.52 points. Japanese PM's Noda's support declined by 10 percent after a month in office, as a significant part of population opposes tax increases intended for infrastructure reconstruction after March earthquake.
CHF
Official SNB rate for EURCHF ...
Title:
Dukascopy Afternoon Forex Overview: 10/06/2011
Fundamental market overview
EUR
European Central Bank decided to leave minimal bid rate at 1.50% during a meeting today. This decision was in line with investor expectations; the current rate has been effective since July 13. Investor sentiment declined after Trichet announced that Euro-area is facing intensified downside risks.
USD
Unemployment claims slid to 401K previous week, surprising analysts who had expected 411K. Last week 6K more people applied for jobless benefits than the week before. Federal Reserve is urging 25 largest banks to control employee remuneration practices, which could potentially putting company at risk.
JPY
Nikkei 225 gained 139.04 points or 1.66%, closing at 8 552.02 points today. World Travel & Tourism Council reported today on significant improvements of ...
Title:
Dukascopy Afternoon Forex Overview: 10/05/2011
Fundamental market overview
EUR
Euro area Retail sales decreased by 0.3% in August after a positive 0.2% reading in July. Experts had forecast a slightly better reading at -0.2. Final services PMI for September was reported today at 48.8 points - slightly lower than the forecast of 49.1 points.
USD
Non-manufacturing PMI for September was released today by Institute for Supply Management at 53.0 points, in line with forecasts, but slightly lower than August reading of 53.3 points. Automatic Data Processing Inc. released Non-farm employment change today, and 91K jobs were added in September, outperforming 76K forecast.
JPY
Average interest rates on time deposits were released today by Bank of Japan: 1M 0.028%, 1Y 0.036%, 5Y 0.092% and 10Y 0.263% annually. Nikkei 225 lost 73.14 points ...
Title:
Dukascopy Afternoon Forex Overview: 10/04/2011
Fundamental market overview
EUR
ECB Head Trichet claimed during his speech that we are currently experiencing the worst crisis since WW II. In order to overcome the crisis, Trichet suggests making efforts towards political unity of EU and extending responsibilities of executive branch and parliament. Euro area PPI slid to -0.1% in August, outperforming the previous forecast of -0.2%. Euro zone PPI had not been in the negative zone since May, 2011.
USD
Fed Chairman Ben Bernanke said on his testimony today that Fed is ready for more decisive action upon necessity, and claimed Federal Reserve would closely monitor economic developments in future. Meanwhile monthly factory orders slid to -0.2% in August despite of a positive 0.2% forecast.
JPY
Average cash earnings y/y decreased by 0.6% ...
Title:
Dukascopy Afternoon Forex Overview: 10/03/2011
Fundamental market overview
EUR
In respect of German Unity day, 3 of October was a bank holiday in Germany. Final Manufacturing PMI of Eurozone was at 48.5 points in September, slightly outperforming forecasted result of 48.4 points. If PMI reading is above 50.0 points, it indicates expansion, and below 50.0 indicates contraction.
USD
Institute for Supply management presented a US PMI report today, and the reading for September stands at 51.6 points, outperforming consensus prediction of 50.5 points. ISM Manufacturing price index increased to 56.0 points, demonstrating an increase in prices.
JPY
Both Tanken manufacturing and non-manufacturing indexes for Q3 were released today. Large Japanese manufacturing companies believe that conditions are improving, and the consensus mark for ...
Title:
Dukascopy Afternoon Forex Overview: 09/30/2011
Expert commentary
"Rating labels, such as "investment grade" and "junk", matter for asset prices beyond the ratings' informational content"
- Norman Schürhoff, Professor at University of Lausanne
"The data basis and methods for determining a rating must be simplified and become more transparent"
- Christian Ewerhart, Professor at University of Zurich
In light of the recent massive sovereign countries' and banks' rating downgrades, Dukascopy TV has interviewed and asked opinions on the role and importance of rating agencies of two experts -Prof. Dr Norman Schürhoff, Professor of Finance at University of Lausanne, Senior Chair at Swiss Finance Institute and Research Affiliate at the Center for Economic Policy Research (CEPR) and Prof. Dr Christian Ewerhart, Chair for Information ...
Title:
Dukascopy Afternoon Forex Overview: 29/09/2011
Previous session overview
EUR
Number of unemployed Germans decreased by 26K last month, Destatis reports. Experts had forecasted a 9K decline - similar to July data.
USD
Last week only 391K Americans filed claims for unemployment benefits, despite a pessimistic forecast of 420K. Last week the indicator slashed against the week before by 37K (from 428K), and this can be considered as a positive sign for US job market.
JPY
BoJ Governor Masaaki Shirakawa claimed that Japanese bank system is healthy, and justified yen's strength with global trust in Japanese currency. Japanese yearly retail sales slid 2.6% in August after a positive 0.6% reading in July. Experts had forecasted this consumer spending gauge to decrease by only 0.6% y/y. Final GDP q/q increased 1.3% in Q4, 2010 - Bureau of ...
Title:
Dukascopy Afternoon Forex Overview : 28/09/2011
Fundamental market overview
EUR
Preliminary German CPI (m/m) data for September was released today by Destatis at 0.1% m/m after August reading of 0.0% (revised from -0.1%). German import prices decreased by 0.7% in August after af 0.8% increase in July.
USD
August Core durable goods orders declined 0.1% in line with expectations, Consensus bureau reports. Durable goods including transportation also declined 0.1% in August after a jump of 4.1% in July.
JPY
Nikkei 225 experienced a measly volatility today, closing at 8615.65, up by 5.70 points or 0.07%. Experts mainly explain this with uncertainty over Euro-zone debt crisis.
CHF
SNB official rate for EURCHF is at CHF 1.2214 today. 3-month LIBOT CHF has slightly increased to 0.02%, and is still within SNB's target range of 0.00-0.25%. ...
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