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Far As The Price Is AboveTitle:
Gold consolidates gain as Greece lifts euro
(Reuters) - Gold was steady on Wednesday, fairly close to recent 11 week highs and taking a cue from the euro's march to a two month peak as investors bet that Greece would finally secure a second bailout needed to avoid default.
Receding risk aversion - reflected in rising share prices - is seen as a dampening factor for gold's safe-haven credentials, with German government bonds feeling some pressure.
But wider uncertainty on the euro zone's economic outlook was more supportive for gold, ...
Title:
Gold on solid ground as Greece lifts euro
(Reuters) - Gold held steady on Wednesday, fairly close to recent 11 week highs and taking a cue from the euro's run to a two month peak as investors bet that Greece would finally secure a second bailout needed to avoid default.
Receding risk aversion - reflected in rising share prices - is seen as a dampening factor for gold's safe-haven credentials, with German government bonds feeling some pressure.
But wider uncertainty on the euro zone's economic outlook was more supportive for gold, with ...
Title:
Dukascopy Morning Forex Overview : 08/02/2012
Fundamental Analysis
EUR
"The salvation of the country, remaining in the euro, means great sacrifices"
- Evangelos Venizelos, Greek finance minister
Greece’s government is preparing a final version of an agreement on budget and structural measures required for a 130 billion euro bailout, said a Greek government official.
USD
"Markets would love to see some certainty, and we don't have any of that at the moment"
- Frank Lesh, a futures analyst and broker at FuturePath Trading LLC
U.S. stocks ...
Title:
EU Debt Crisis Continues to Fuel Risk Aversion
The euro-zone debt crisis continued to fuel risk aversion in the market place yesterday, as poor news briefly brought the EUR/USD pair below the 1.3100 level. The pair staged a recovery later in the European session, after it was revealed that Greek leaders had begun finalizing a debt swap deal. Today, traders will want to continue monitoring the euro-zone situation, especially as it is becoming clear that Portugal will soon need a bailout to avoid defaulting on its debt.
Economic News
USD - ...
Title:
Gold tests $1,750 as Greece buys more time
(Reuters) - Spot gold briefly rose above a resistance level of $1,750 an ounce on Wednesday, as investors waited for Greece to grind towards a deal on a rescue package that it urgently needs after missing a string of deadlines.
Athens tested investor's patience yet again on Tuesday by postponing a decision on whether to accept austerity and reform measures in exchange for a 130 billion euro ($172 billion) bailout from the IMF and EU.
Gold could face a short-term pullback if Greece strikes a ...
Title:
Greek government is finalizing agreement; Euro rises, Franc retreats on SNB
According to a Greek government official; the Greek government is preparing a text for an agreement that would be handled to political parties to discuss and agree upon today, this text is the result of the long-lasted talks with private lenders. After the long wait, markets are getting fresh news from Greece, the news was euro positive as the EUR/USD pair is trading higher currently around 1.3175 after its has been under pressure this morning printing a low at 1.3095 after opening the day at ...
Title:
YouTradeFX Daily Market Analysis : 07/02/2012
Fundamental News:
Today's highlight;
· Fed Chairman Bernanke Testifies. (US, 15:00, GMT)
The EUR/USD is trading down at 1.3055 from early 1.3085, having been as low as 1.3028. European trading was a worrisome as investors could not decide what was happening. News from Greece was not promising.
Greece failed to agree on new austerity measures across political parties yesterday, a requirement for the proposed bailout to avoid default in March. There was some progress on bank ...
Title:
Lack of Greek Deal Sends EUR Tumbling
The euro was largely bearish yesterday, after Greece once again failed to come to an agreement with its creditors to restructure its debt. Losses were seen against most of its main currency rivals, including the US dollar, Japanese yen and British pound. Today, in addition to any euro-zone developments that may occur, traders will want to pay attention to a speech from the US Fed Chairman at 15:00 GMT. Any positive statements could help the USD extend its recent bullish trend.
Economic News
...
Title:
U.S. farmers to plant largest corn area in 68 years: poll
(Reuters) - U.S. farmers this spring will seed the largest area with corn since World War Two as a mild and dry winter has raised expectations for a quick planting this spring , a Reuters poll of 24 analysts showed, signaling a boost to razor-thin stocks and lower prices in 2012.
The survey showed that farmers were gearing up to plant 94.2 million acres, which could produce a record crop of 13.8 billion bushels based on a trendline yield of 161.4 bushels per acre. It would surpass the previous ...
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