Europe Overshadows The Outlook

Dukascopy Fundamental Analysis EUR According to State data the number of unemployed in Spain increased to 4.7% million in February or by 112,269 from January. On yearly basis the unemployment level has surged by 412,835. With current monthly jobless rate of 23.3% Spain is maintaining the unemployment record high among 27 EU member countries. USD Dow Jones Industrial Average has lost 0.04% since opening, driven down by Travelers Cos Inc. with -1.35% and Coca Cola Co with -0.78%. Exxon and Chevron, major oil companies are losing 0.85% and 0.55% respectively on Saudi oil pipe speculation. GBP Barclays revealed that it borrowed EUR 8.2B from the ECB through central bank’s LTRO. Thus, Barclays has become the third bank after HSBC and Lloyds that had accepted the low-interest loan ...

Fundamental Analysis EUR "We won’t get an economic improvement anytime soon in Europe" - Alexander Krueger, chief economist at Bankhaus Lampe KG Euro area manufacturing contracted for a seventh consecutive month, said the Institute for Supply Management on Thursday. An index measuring manufacturing activity rose to 49 in February from 48.8 in January. USD "The economy is expanding, but the data is choppy and somewhat inconsistent" - John Herrmann, president of Herrmann Forecasting LLC The number of Americans claiming for unemployment benefits declined slightly to 351 thousand in the week ended February 25 from the week before, said the Department of Labor on Thursday. GBP "U.K. manufacturers continued to raise production and employment in February, building on the solid foundation ...

(Reuters) - Time is fast running out for European Union leaders to close the gaping wound that is the euro-zone debt crisis and any failure to strike a comprehensive deal this week would sap more strength from the global economy. Heightened uncertainty from Europe would further undermine investor confidence and damage growth, an unfortunate counterpoint to recent economic data that has proven modestly encouraging. China's growth numbers at 9.1 percent year on year rate for the third quarter have calmed fears that Asia was heading for a hard landing in Asia. U.S. jobs data have stabilized, retail demand firmed, and a regional manufacturing survey rebounded. This picture of slow and steady growth is expected be confirmed when the United States reports economic output for the July- ...