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EuroTitle:
U.S shares rise in closing
The world`s leading economy saw its shares actually erasing losses throughout the closing session as optimism returned on a local and global scale after that the Italian Prime Minister Mario Monti said Greece is likely to stay in the euro and a majority of the region’s leader`s support issuing a joint bond.
The Dow Jones Industrial Average index gained 33.60 points or 0.27% to close at 12529.75 levels, the index reached the highest point at 12539.59 and the lowest point at 12419.63, By closing 20 shares inclined while 10 shares declined.
The Standard & Poor’s 500 Index added 1.82 points or 0.17% to close at 1320.68 levels, the index reached the highest point at 1324.14 and the lowest point at 1310.50, By closing 288 shares inclined while 208 shares declined and 4 shares remained ...
Title:
Dollar continues on gaining power
Today throughout the U.S session mixed sentiments; fears and hopes, were spread on a local scale with on one hand orders for business equipment dropped for a second month and on the other hand Hewlett-Packard Co. gained significantly.
Plus today`s German manufacturing data came out gloomy and showed weakened industry and production conditions while that China attested out that some of its biggest banks may fall short of loan targets.
Accordingly on a daily scale we watched the euro fall to its weakest level against the dollar since July 2010 and the Dollar index which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, rose on multiple time charts to currently trade at 82.28 recording its highest level at 82.36 and its ...
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Stocks eke out gains, euro falls
(Reuters) - Global stocks eked out gains on Thursday while the euro fell as data suggested Europe's debt woes were spreading and worsening a global economic slowdown, adding to investor concerns about Greece's possible exit from the euro zone.
In a volatile session, investors looking for bargains initially bought equities, oil and gold, which have been beaten down this week by worries a Greece exit would deepen the euro zone debt crisis.
The appetite for growth-oriented assets faded as fears about the euro zone's drag on the world economy returned. Then for a second straight day, a wave of buying emerged shortly before Wall Street's close.
"The market has pulled back far enough that people are trying to assess if we've priced the worst of what's known. But with the problems in Europe ...
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Western Asset Management sold European bank debt: CIO
(Reuters) - Fixed income money manager Western Asset Management Co slashed its holdings of European bank debt and shifted to borrowings in the United States, which will benefit from stronger economic growth, Chief Investment Officer Stephen Walsh said on Thursday.
Western Asset's biggest concern is the mounting economic challenge facing Europe that is likely to tip the region into recession, Walsh, who helps oversees $446.7 billion, said on a webcast for the firm's fund investors.
The situation is unlikely to be resolved soon, he said, making it a good time to reduce risk by selling European bank debt "and bringing it back to the U.S."
Western, a unit of Baltimore asset manager Legg Mason Inc (LM.N), is just one of a number of major bond managers grappling with how to treat their ...
Title:
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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Euro Spikes To 2-Month High After Narrow Trade
The 17-nation shared currency rose to the highest level since March 16 against the Swiss Franc on Thursday, as specualtion mounted the Swiss Central Bank may intervene to weaken the currency by discouraging traders from using it as a safe haven.
Rumors horned in markets today about a possible intervention of the Swiss Central Bank and an intoduction of a suprise tax on deposits - new taxes designed to discourage foreign inflows into the country, particularly in the light of looming Greek exit from the euro.
The EUR/CHF printed a 2-month high of 1.2075 from 1.2009 but bounced back to trade around 1.2020.
Title:
European Shares End Green After Strongest Rout In A Month
European equity markets rebounded from the biggest sell-off in a month, pushing the stock benchmarks to settle higher on Thursday, led by gains in commodity and utility companies, neglecting the escalating financial and political strains in the 17-nation euro zone.
Regardless of a drop in European manufacturing and services and German business confidence, equities managed to advance despite the tensions in markets following yesterday’s EU summit and status of anxiety on speculations Greece may exit the euro area.
The summit showed disagreement over introducing Eurobonds as German Chancellor Angela Merkel said after the EU summit that her country support her opposition to jointly issued common European bonds.
The benchmark index for Europe, the STOXX 600 ended higher by 1.00% at 241.91, ...
Title:
Dukascopy Afternoon Forex Overview : 24/05/2012
Fundamental Analysis
EUR
European stocks returned to growth, despite services and manufacturing purchasing managers indices across Europe and German business confidence shrank more than expected. The Stoxx Europe 600 Index added 1.0 percent to 241.81. Cable & Wireless Communications Plc soared 19 percent. Sonova Holding AG gained 2.5 percent. Bayer AG declined 1.1 percent. U.S. futures and Asian stock little changed. S&P 500 futures gained 0.3 percent, MSCI Asia Pacific index added 0.1 percent.
USD
The US Dollar followed bullish trend on Thursday as Germany disapproves issuance of Eurobonds that may help to ease Greek debt burden. Traders are also cautions ahead of Euro Zone's manufacturing data release due later today. The US Dollar index, which tracks the greenback's performance ...
Title:
U.S shares fluctuated in the opening
The world`s leading economy saw its shares fluctuating throughout the opening session as mixed sentiments; fears and hopes, were spread on a local scale with on one hand orders for business equipment dropped for a second month and on the other hand Hewlett-Packard Co. gained significantly.
In fact Hewlett-Packard climbed 4.8 percent as the personal-computer maker announced plans to slice its workforce by 27,000 and reported quarterly sales and profit that topped estimates.
Facebook Inc. rose 1.9 percent, poised for a second day of gains, after tumbling 19 percent earlier this week. While that Tiffany & Co. dropped 7.6 percent as the world’s second-largest luxury jewelry retailer cut its full-year profit and sales forecasts.
The Dollar index which measures the performance of the U.S. ...
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