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European Data LiftedTitle:
Positive markets after ECB and BoE kept rates on hold as expected
Morning Briefing : Positive markets after ECB and BoE kept rates on hold as expected
What's new:
Forex: Euro lifted by rally across euro zone sovereign bond markets
Global Markets: Risk buoyed as Spanish and Italian borrowing costs fall
Euro zone: Strong demand in Spanish, Italian debt sales
Euro zone: ECB leave rates unchanged, says cheap 3-year loans was helping banks
United Kingdom: BoE keep rates, QE unchanged
Forex rates in Asia and Indices:
EUR/USD: 1.2878 - 1.2807
USD/CHF: 0.9450 – 0.9414
GBP/USD: 1.5394 - 1.5329
USD/JPY: 76.84 – 76.68
EUR/CHF: 1.2130 – 1.2097
EUR/JPY: 98.80 – 98.34
DowJones: 12'471.02 +0.17%
NASDAQ: 2'724.70 +0.51%
S & P 500: 1'295.50 +0.23%
Nikkei: 8’500.02 +1.36%
Shanghai: 2’244.58 -1.34%
Gold: $ 1’647.00
Crude Oil: $ 99.88
Comments:
The Euro enjoyed a ...
Title:
Oil rebounds as Nigeria output at risk and Europe worries
(Reuters) - Oil rebounded on Thursday after Nigeria's main oil union threatened to shut output and as the euro rallied, thanks largely to solid debt auctions by Spain and Italy.
Nigeria's main oil union, PENGASSAN, threatened to shut output from Sunday as Africa's biggest oil producer entered its fourth day of nationwide protests over the loss of fuel subsidies. Industry officials expressed doubts that union action would stop oil exports completely.
Successful debt auctions by Spain and Italy and European Central Bank President Mario Draghi's assurance that the ECB was ready to act if needed fueled the euro rally, prompting investors to buy oil and other riskier assets.
"The euro's rise against the dollar on successful Spanish and Italian debt auctions plus the threat of a shutdown in ...
Title:
Dukascopy Afternoon Forex Overview : 12/01/2012
Fundamental Analysis
EUR
Europe’s stock markets fell on Wednesday following the drop in the oil prices. Stoxx Europe 600 index lost 0.35% or 0.89 points and closed at 249.9 while German DAX 30 index declined 0.17% or 10.64 points at finished at 6,152.34. UK FTSE 100 index tumbled 0.45% at 25.88 points, reaching 5,670.82 and French CAC 40 Index deteriorated 0.19% or 5.96 points to 3,204.83.
USD
Crude oil rose today as investors already have sold off the crude oil contracts after US reported higher than expected crude oil inventories. Light, sweet, crude oil futures for February delivery traded at USD101.25 a barrel during the Asian session, on the New York Mercantile Exchange, gaining 0.38% since opening.
GBP
Major British energy providers - British Gas and SSE - announced today about ...
Title:
Dukascopy Morning Forex Overview : 11/01/2012
Fundamental Analysis
EUR
"On the basis of some current economic and fiscal trends in France... we wouldn't expect to downgrade France this year"
- Ed Parker, head of EMEA sovereign ratings
Fitch Raings does not plan to downgrade France's top notch AAA credit raing in 2012, while raings of Spain and Italy as well as other countries under review could be cut by one or two notches this year, said Ed Parker, head of EMEA sovereign raings at Fitch on Tuesday.
USD
"Demand has been pretty good in the fourth quarter, though the momentum peaked early in the quarter"
- Aneta Markowska, a senior U.S. economist at Societe Generale
U.S. month-on-month wholesale inventories barely grew in November, suggesing the economy is recovering at a moderate pace.
GBP
"A better-than-hoped for December closed ...
Title:
Stocks gain on U.S. hopes, euro holds above lows
(Reuters) - Hopes for U.S. corporate results lifted global stocks on Tuesday and signs the debt-scarred euro zone economy might be less fragile than feared kept the shared currency clear of recent lows.
U.S. index futures pointed to a stronger open on Wall Street after stocks finished slightly higher in the previous session.
The contrasting fortunes of U.S. and European markets were highlighted by a profit warning from Europe's biggest consumer electronics maker Philips (PHG.AS) of soft fourth quarter profits due to weakness in its home region.
But European shares took heart from a positive outlook overnight for global demand from U.S. aluminum giant Alcoa (AA.N) to rise steadily from the start.
Nervous currency markets stayed focused on the outlook for the euro zone economy, ...
Title:
Global stocks, euro gain on economic outlook hopes
(Reuters) - Signs of resilience in the euro zone economy and rising hopes for U.S. corporate results lifted global stocks and the shared currency on Tuesday but concerns over Europe's intractable debt problems capped gains.
European shares strengthened from the start, led by mining stocks, after forecast-beating results from U.S. aluminum producer Alcoa (AA.N) improved the outlook for commodities.
The key FTSEurofirst 300 .FTEU3 index was up 1.5 percent at 1,023.72 points, while the global MSCI world equity index .MIWD00000PUS added 0.8 percent, helped by earlier gains in Asian markets.
U.S. stock index futures pointed to a stronger open for equities on Wall Street on Tuesday.
The positive sentiment from the Alcoa results spread through the European STOXX Oil & Gas .SXEP, which ...
Title:
Dukascopy Morning Forex Overview : 10/01/2012
Fundamental Analysis
EUR
"Reaching a functional agreement already by the next meeting on Thursday is not out of the question"
- Elmar Brok, a German member of the European parliament
German chancellor Angela Merkel and French president Nicolas Sarkozy met on Monday to discuss how to promote Europe’s economic growth and to finalize a deal on deeper fiscal union.
USD
"I’m growing more optimistic that the economic activity in the U.S. is firming to the point that it’s durable"
- Mark Luschini, chief investment strategist at Montgomery Scott LLC
U.S. corporations, such as Cisco Systems Inc., ended 2011 with the slowest profit growth in two years amid global economic slowdown, estimated Bloomberg analysts.
GBP
"Demand for prime London property in 2011 outpaced supply and led to strong ...
Title:
Euro higher but faces pressure this week
(Reuters) - The euro held its ground in Asia on Tuesday but faces pressure later this week ahead of Italian and Spanish debt auctions.
The single currency stood at $1.2767 after an overnight bounce off a 16-month low of $1.2666.
It climbed to a session high of $1.2797 on stop-loss bids above $1.2790, but fell short of stops said to lie around $1.2800. Buying ahead of a $1.2650 option barrier prompted early short-covering as Tokyo traders returned after Monday's Japanese holiday.
With euro net short positions at a record, according to the latest data from the Commodity Futures Trading Commission, the euro remains susceptible to short-covering.
Title:
Dollar gains on jobs data, but equities retreat
Data showing strong growth in the U.S. labor market and the lowest jobless rate in almost three year lifted the U.S. dollar on Friday, but oil prices fell and equities stalled as the upbeat figures failed to ignite investors.
The Labor Department report showing a fall in the unemployment rate to 8.5 percent, from a revised 8.7 percent in November, offered the strongest evidence yet of an accelerating U.S. economy.
The euro hit an almost 16-month low against the dollar as the data underscored the increasingly divergent fortunes of the U.S. and European economies.
Strong economic data in the past had helped the euro as investors became more tolerant of risk, but investors are now being driven more by the evidence that the U.S. economy is strengthening while Europe appears headed toward ...
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