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European Data LiftedTitle:
Greece and European issues still in focus; BoE to announce its monetary policy
Forex Morning Briefing : Greece and European issues still in focus; BoE to announce its monetary policy
What’s new:
Equity: Asian and US equities down on Greek political instability
Spain: Government to nationalize Bankia
Forex: AUD/USD pares yesterday’s losses on stronger unemployment rate
Forex: EUR/USD breaks the 1.2950 support, investors remain bearish
Rates in Asia and Indices:
EUR/USD 1.2925 1.2964 0.21 %
USD/CHF 0.9266 0.9293 0.21 %
GBP/USD 1.6123 1.6151 0.05 %
USD/JPY 79.61 79.77 -0.05 %
EUR/CHF 1.2009 1.20131 -0.01 %
EUR/JPY 102.91 103.36 -0.26 %
Dow Jones 12748.48 12921.81 -0.75 %
Nasdaq 2588.97 2635.71 -0.32 %
S&P 500 1343.13 1363.73 -0.67 %
Nikkei 225 8985.9 9075.63 - ...
Title:
Copper rebounds off $8,000; capped by Europe worries
(Reuters) - London copper futures fell on Wednesday, extending losses after hitting two-week lows near $8,000 a metric ton (1.1023 tons) in the previous session, weighed down by worries about the impact of political turmoil in Greece and the euro zone debt crisis.
Greece was struggling to form a government several days after elections, raising the risk that a hard-won bailout could be nullified.
A raft of Chinese data this week is also expected to keep investors cautious although figures are likely to show the economy of the world's top copper user has bottomed out as inflation slows and output picks up.
Three-month copper on the London Metal Exchange fell 0.3 percent to $8,073.75 a tonne by 0413 GMT, after falling 1 percent on Tuesday.
The most-active August copper contract on the ...
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, ...
Title:
Dukascopy Morning Forex Overview : 03/05/2012
Fundamental Analysis
EUR
"The grim unemployment figures for March will likely encourage talk about a long overdue ‘growth pact’ for the euro zone"
- Martin van Vliet, an economist at ING Group
Euro area unemployment rose to the highest level since 1997 in March and manufacturing contracted in April, adding to signs the economy is still far from out of the woods.
USD
"Employment growth is slowing"
- David Sloan, an economist at 4Cast Inc.
The number of Americans, who have found a job in the private sector fell to 119,000 in April from a revised 201,000 in March, the ADP Employer Services said on Wednesday.
GBP
" points to clear, decent construction expansion in April"
- Howard Archer, chief UK economist at IHS Global Insight
U.K. construction sector expanded slower in April, compared ...
Title:
Dukascopy Afternoon Forex Overview : 02/05/2012
Fundamental Analysis
EUR
German jobless rate unexpectedly climbed first time in last six months as debt turmoil curbed economic growth. The number of unemployed people increased by 19 000, reaching 2.87 million, compared to an expected drop by 10 000 people. The adjusted unemployment rate was 6.8%.
USD
Mitt Romney announced that Yuan's 23% appreciation versus U.S. Dollar in last five years is not enough and branded world's second largest economy as currency manipulator. Romney promised in his campaigns to put more pressure on China as he claimed Obama hasn't done enough to boost stronger Yuan. Economists questioned by Bloomberg expected Yuan to climb versus greenback to CHY 6.15 by the end of 2012.
GBP
FTSE 100 index traded lower on Wednesday as record high unemployment level and ...
Title:
Gold retreats as U.S. data lifts dollar
(Reuters) - Gold prices retreated towards $1,650 an ounce in Europe on Wednesday after a downbeat reading of euro zone manufacturing activity contrasted with stronger data from the United States, pushing the euro lower versus the dollar.
Spot gold was down 0.4 percent at $1,654.49 an ounce at 05:15 a.m. EDT (0915 GMT), while gold futures for June delivery were down $6.70 an ounce at $1,655.70.
The precious metal traded in its tightest monthly spread since last June in April and remains firmly within the $1,620-1,670 range, awaiting fresh impetus from the wider financial markets and economic indicators.
Jobs data at 1215 GMT will be closely watched as a precursor to a key non-farm payrolls report on Friday. A weak report would lift expectations for more monetary stimulus.
"With economic ...
Title:
Oil turns higher on strong U.S. factory growth
(Reuters) - Oil prices turned higher on Tuesday after data showing the U.S. manufacturing sector expanded in April at its fastest pace in 10 months eased concerns about slowing economic growth.
The supportive U.S. factory data from the Institute of Supply Management (ISM) helped U.S. crude end at its highest settlement in five weeks and lifted equities on Wall Street, sending the S&P 500 index up 1 percent and the Dow to its highest level since December 2007. .N
Technical buying kicked in after U.S. crude moved above the 50-day moving average at $105.21 a barrel. Crude had hit formidable resistance at that level in recent sessions.
"The ISM data pushed crude up and strong equities are helping, and when crude moved above the 50-day moving average that triggered some technical buying," ...
Title:
Dukascopy Afternoon Forex Overview : 01/05/2012
Fundamental Analysis
EUR
Anti-austerity protestors are likely to hold massive demonstrations in May Day. Demonstrations in Athens that involve private and public sector strikes have already disrupted the public transport. However, the traditional violence is not expected as Greeks are likely to show their protest against austerity measures on Sunday when the general elections are due.
USD
Crude and Brent oil dropped as lifted US energy inventories outweighed supply concerns caused by export disruptions in Yemen, Sudan and North Sea.
GBP
Manufacturing sector in the UK performed worse than initially expected in April, reported research group Markit. UK's manufacturing PMI declined to 50.5 last month on a seasonally adjusted basis as compared to a March reading of 52.1. Experts ...
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 ...
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