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Far As The Price Is BelowTitle:
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:
Gold rises nearly 2 percent on Greece bailout optimism
(Reuters) - Gold prices rose 1.5 percent on Tuesday for their biggest daily gain in two weeks, as expectations that a Greek rescue deal will be completed drove the dollar down sharply against the euro.
Bullion, which had dropped in early trade on nervousness about Greece, rebounded to snap two days of losses as Greece's government was preparing a list of reforms needed to clinch a new financing package.
Hopes for a bailout plan that would move Athens closer to avoiding a chaotic debt default ...
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:
Dukascopy Morning Forex Overview : 07/02/2012
Fundamental Analysis
EUR
"There is at least still sufficient demand for goods ‘made in Germany’ to keep the industrial engine running in 2012"
- Carsten Brzeski, senior economist at ING Group
German factory orders increased more than expected in December as demand from overseas helped the euro zone’s largest economy to weather the debt crisis. Orders rose 1.7 per cent, after declining 4.9 per cent in November, said the Economy Ministry on Monday.
USD
"You wonder when people are going to look ...
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 ...
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