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Eur/jpyTitle:
Dukascopy Morning Forex Overview : 01/05/2012
Fundamental Analysis
EUR
"We fear things are likely to get worse before they get better"
- Martin van Vliet, a senior euro-region economist at ING Bank
Spain sank into recession in the first quarter of 2012. The economy contracted 0.3 per cent, after shrinking by the same amount in the previous quarter, Madrid-based National Statistics Institute data showed on Monday.
USD
"What was encouraging was that the income numbers improved. Our expectation is that job growth does increase gradually"
- Peter Newland, an economist at Barclays Capital Inc.
U.S. consumer spending was boosted by higher than expected incomes, said the Bureau of Economic Analysis on Monday. Household purchases increased 0.3 per cent. Incomes gained 0.4 per cent, the most in three months.
GBP
"This is year three of a ...
Title:
RBA surprises with 50 bps cut
Forex Morning Briefing : RBA surprises with 50 bps cut
What’s new:
Forex: Aussie tumbles on RBA rate cut; euro off two-week lows against yen
Global Markets: Asian shares hurt by concerns over US and European economies, lifted by RBA
Australia: RBA cuts rates by 50 bps to 3.75 percent
China: Manufacturing PMI rises as expected to 53.6
Euro zone: Eurogroup head quits citing intolerance to Franco-German interference
Euro zone: Spain slips back into recession
United States: Fed’s Fisher and Williams say no need for further monetary easing
United States: ISM manufacturing index due today at 16:00 CET
Rates in Asia and Indices:
EUR/USD 1.3234 1.3260 0.11 %
USD/CHF 0.9060 0.9077 0.11 %
GBP/USD 1.6212 1.6241 -0.07 %
USD/JPY 79.64 79.95 ...
Title:
USD Remains Bearish During Slow Trading Day
The US dollar extended its bearish trend during yesterday's trading session, as investors continued to digest the disappointing US Advance GDP figure released last week. The greenback hit a two month low against the Japanese yen while the GBP/USD rose to an eight-month high. Turning to today, most European markets are closed for the May Day holiday. That being said, traders will want to pay attention to news out of the US. Specifically, the US ISM Manufacturing PMI is forecasted to generate significant market volatility. A better than expected result could help the dollar recoup some of its recent losses.
Economic News
USD - US Manufacturing PMI May Help Dollar
The dollar largely remained bearish against its main currency rivals yesterday, following disappointing US news last week which ...
Title:
Forex Technical Analysis : 05/01/2012
- Forex Technical Analysis : 05/01/2012 -
(Timeframes: 30 minutes)
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Title:
Technical analysis of the EUR/JPY pair on May 1st, 2012
Commentary of the EUR/JPY pair :
The pair EUR/JPY has validated yesterday the breakout of 106, offering a sell signal.
The pair is now moving towards 105 and the fibonacci retracement 0% at 104.63 (reached in April 16th).
All indicators are bearish.
We continue to advise short positions as far as 106.50 is resistance.
The breakout of 105.50 will give a new sell signal and open the way towards 105.
In case of return above 106.50, we will wait the breakout of 107 to advise long positions.
See the previous analysis of the EUR/JPY pair of April 30th, 2012
EUR/JPY Analysis
Title:
Monthly Forex Spot Contests - May 2012
In May 2012, Forex-Tribe organizes 2 Forex Spot contest on the following Currency Pairs :
- EUR/USD
- EUR/JPY
Votes start on Thursday 1st of May 2012 at 1h CET
Votes end on Wednesday 16th of May 2012 at 13h CET
To vote, Access to the Forex Contests
(Or become a Forex-Tribe Member Now!)
Results : The 31th of April 2012 at 23h CET
Title:
Dukascopy Afternoon Forex Overview : 30/04/2012
Fundamental Analysis
EUR
Unemployment in Spain approached a new record of 5.64 million in March while the jobless rate topped 24.4%, reported the national statistics office. Analysts expect the Spain's officials to confirm that the country is falling into recession. Meanwhile, retail sales in the country declined by 3.7% in March on an annual basis.
USD
US consumer spending surged in March, adding to the previous gains as incomes increased. Household purchases that account about 70% of the US economy surged by 0.3%, following a 0.9% increase in February. Experts projected consumer spending to rise by 0.4%. Meanwhile, incomes eased up 0.4%, indicating the largest increase in the last three months.
GBP
UK home value accelerated in April, the second straight month, Hometrack Ltd said on ...
Title:
Euro Slips as Spain Enters Recession
The euro fell today as Spain’s economy entered a recession, fueling concerns that the financial crisis is spreading across Europe. That was the first day of decline against the dollar after four days of gains and the third consecutive session of losses against the yen.
Spain’s gross domestic product fell 0.3 percent in the first quarter from the previous three months. The economy shrank at the same rate in the fourth quarter of the previous year, meaning that Spain’s economy is declining for two quarters in a row and that means the country entered a recession. It is really no surprise, considering that Spain has huge unemployment of 25 percent. The nation’s ministers gather today to discuss budget cuts, but it is very likely that Spain would be forced to request a bailout.
EUR/USD fell ...
Title:
Dukascopy Morning Forex Overview : 30/04/2012
Fundamental Analysis
EUR
"Once we hit the 6.5 per cent mark , the alarm bells will go off loudly in Brussels and more rhetoric will be coming from the European Central Bank"
- Adrian Miller, a global markets strategist at GMP
The rating agency Standard & Poor’s has downgraded Spain’s credit rating by two notches to BBB-plus with a negative outlook from A, citing expectations the government finances will deteriorate.
USD
"While the economy continued to grow in the first quarter, the expansion remains modest in pace and subpar from a historical perspective"
- Jim Baird, chief investment strategist at Plante Moran Financial Advisors
The U.S. economy grew at a slower pace than forecast in the first quarter as businesses cut on investment. Gross domestic product increased at a 2.2 per cent ...
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