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Euro Continues To BenefitTitle:
Dukascopy Morning Forex Overview : 04/05/2012
Fundamental Analysis
EUR
"Technically, easier monetary policy conditions should be currency negative."
- Jane Foley, analyst at Rabobank
The European Central Bank held key rate at 1 per cent on Thursday and told it expects a gradual economic recovery this year.
USD
"Labor market conditions have improved in recent months."
- Federal Open Market Committee
The number of Americans claiming for unemployment benefits tumbled to 365,000 in the week ended April 28 from 392,000 the week before, said the Department of Labor on Thursday.
GBP
"The service sector started the second quarter on a weaker note than in the first quarter, but continued to grow at a reasonable pace."
- Chris Williamson, chief economist at Markit
U.K. service sector growth slowed in April, Markit Economics data showed on ...
Title:
Dukascopy Afternoon Forex Overview : 03/05/2012
Fundamental Analysis
EUR
German DAX index climbed on Thursday lifted as ECB decided to keep its benchmark rate unchanged and Spain successfully auctioned bonds. Index was supported with positive news from US as data showed jobless claims fell more than expected last week. BMW AG rallied 2.72% after German car maker reported its EBIT jumped 19% in 1st quarter.
USD
Timothy Geithner, US Treasury Secretary, said that China has to alter its polices tied to exports and focus on stimulating domestic consumption. Such change is vital for sustaining China's economic expansion. Currently, China is exploring the ways for new economic reforms as the country recognized the risks of overreliance on exports, Timothy Geithner added.
GBP
Average house prices in the UK declined by 0.2% last month, ...
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Euro slips vs dollar as European stress persists
(Reuters) - The euro weakened against the dollar on Monday and was on track for its worst month since December, pressured by nagging euro zone stresses as German retail sales were softer than expected and Spain slipped into recession.
Investors were also wary of buying euros before weekend elections in France and Greece and a European Central Bank (ECB) meeting later in the week that could knock sentiment in the single currency.
"There is clear risk aversion in the market," said Boris Schlossberg, director of FX research at GFT in Jersey City, New Jersey, citing data showing Spain's slide into recession and the weaker-than-expected German data. "In short, the news from Europe continues to point to further structural stress in the system."
The euro failed to gain traction versus the ...
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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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Dukascopy Afternoon Forex Overview : 26/04/2012
Fundamental Analysis
EUR
Deutsche Bank, the German biggest lender posted a 33% drop in its first quarter profit, citing debt crisis as a negative force that curbed trading. Net income declined to EUR 1.38 billion (USD 1.82 billion) compared to EUR 2.06 billion in the same period last year. Economists questioned by Bloomberg expected the profit to decrease less to EUR 1.56 billion. Deutsche Bank shares have added 16% this year.
USD
Crude oil fluctuated close to a one-week record high as Fed claimed they expect the economic growth to advance, encouraging the speculation that fuel demand will increase. Moreover Iran announced it may stop its nuclear expansion. June crude traded at USD 104.07 a barrel after climbing USD 0.57 yesterday. Brent oil to be delivered in June traded at USD 119 a ...
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Dutch Fears Trump French Elections
Dutch Fears Trump French Elections
If you looked at the headlines from the weekend you may have thought that risk was poised to rally today. The first round of the French Presidential election was a tighter race than expected. Socialist Hollande won 27.1% of the vote while Sarkozy was not that far behind with 26.7%. The French left, which has called for ECB rate cuts and a re-negotiation of the EU's Fiscal Pact, did less well than expected, which should have calmed markets this morning. However, weak economic data out of the currency bloc combined with fears about the Dutch triple A credit rating has caused risk aversion to grip the markets at the start of this week.
Dutch budget wrangling hurts risk sentiment
The Netherlands has overtaken France as the largest political risk this week ...
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Copper holds ground, investors stay cautious
(Reuters) - London copper traded slightly above $8,000 a metric tonne on Friday, hovering near its previous close, as investors waited for more decisive cues on demand such as whether China loosens monetary policy and the health of the euro zone.
Thursday's successful French and Spanish bond auctions eased some fears over the euro zone debt crisis, but the positive news was later offset by soft jobs data out of the United States.
Three-month copper on the London Metal Exchange rose 0.3 percent to $8,070 a metric tonne by 11:56 p.m. EDT, after closing flat on Thursday, but is on track to record a 1 percent weekly rise.
The most-active July copper contract on the Shanghai Futures Exchange lifted 0.3 percent to 57,860 yuan ($9,200) a tonne, after falling 0.3 percent in the previous session. ...
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Dukascopy Morning Forex Overview : 19/04/2012
Fundamental Analysis
EUR
"The debt crisis is far from over still and I think Spain will be worse before it gets better"
- Henrik Drusebjerg, a senior equity strategist at Nordea Bank AB
The seasonally adjusted current account of the euro zone swung a deficit of €1.3 billion in February from a surplus of €3.7 billion in January, said the European Central Bank on Wednesday.
USD
"We got used to companies beating estimates by a pretty good margin"
- Burt White, chief investment officer at LPL Financial Corp.
U.S. stocks fell after Intel Corp. and International Business Machines Corp. disappointed market participants with their quarterly results.
GBP
"… the monetary policy committee is likely to remain on hold on the stock of asset purchases at its May meeting"
- Mauro Giorgio Marrano, an ...
Title:
Positive German Data Helps Euro
The euro staged a broad recovery during yesterday's trading session, as the combination of a positive German ZEW Economic Sentiment and smooth Spanish debt auction generated risk taking in the marketplace. Turning to today, traders will want to pay attention to the British Claimant Count Change, scheduled for 08:30 GMT. The report is the official unemployment statistic for the UK and has been known to generate market volatility. Should the figure come in higher than forecasted, risk aversion may return to the market place.
Economic News
USD - Dollar Turns Bearish vs. Riskier Currencies
A batch of positive international news releases yesterday led to US dollar losses as investors shifted their funds to riskier assets. A better than expected German ZEW Economic Sentiment and Spanish debt ...
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