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Further Appreciation Of The YenTitle:
Dukascopy Morning Forex Overview : 14/05/2012
Fundamental Analysis
EUR
"Equity markets are driven by two things: fundamentals and sentiment."
- Lorne Baring, managing director at B Capital SA
European stocks climbed on Friday after a report showed U.S. consumer confidence increased to the highest level in four years in May.
USD
"Confidence has been boosted by lower gasoline prices."
- Paul Dales, a senior economist at Capital Economics Ltd.
U.S. consumer confidence rose by more than expected in May as consumers became more optimistic on the outlook of the country's economy.
GBP
"The April producer price data … do little overall to reduce the uncertainty as to whether or not the Bank of England will eventually do more Quantitative Easing."
- Howard Archer, an economist at HIS Global Insight
U.K. producer prices rose by more than ...
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Euro Declines For The Second Consecutive Day On Risk Aversion
High yielding currencies for the second consecutive day continue the downside movements as Greek politicians are still unable to find common grounds regarding the formation of the new coalition government, with new jitters pressuring the euro as more and more Greeks are calling for ending the bailout deal with the European Union as they reject further austerity.
Alexis Tsipras, the leader of Greece`s Syriza Party, will join his peers in a meeting today, before creating the coalition government; however, tension remains evident, while fears spread sharply as the leader is expected to demand Samaras and Venizelos, the former Greek finance minister, to revoke their pledges to implement the austerity measures associated with the second bailout deal.
High yielding currencies are weak against ...
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Dollar slides vs euro, yen; Aussie dollar tumbles
(Reuters) - The dollar fell to a one-month low against the euro and to a 2-1/2 month trough against the yen on Tuesday in thin trading, weighed down by recent weak U.S. economic data that has rekindled speculation about a further round of monetary easing.
The Australian dollar, meanwhile, fell sharply after the Reserve Bank of Australia slashed rates by a deeper-than-expected 50 basis points.
A sharp fall in business activity in the U.S. Midwest and other data on Monday showing Spain was in recession dented investor appetite for risk and supported the safe-haven yen, which also rose against the broadly weaker Aussie dollar.
"Investors have focused on the recent spell of soft U.S. economic reports, which have added to the case for additional Fed easing in the months ahead -- a decidedly ...
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Aussie felled by RBA cut, U.S. dollar heavy
(Reuters) - The Australian dollar fell sharply on Tuesday after the Reserve Bank of Australia slashed rates by a deeper-than-expected 50 basis points while soft data nudged the U.S. dollar to a fresh two-month low versus the yen.
A sharp fall in business activity in the U.S. Midwest combined with data on Monday showing Spain was in recession dented investor appetite for risk and supported the safe-haven yen, which also rose against the broadly weaker Aussie dollar.
Markets had been expecting a 25 basis point rate cut from the Australian central bank (RBA) and the surprise drove the Australian dollar down more than 1 percent to $1.0312 and to a three-month low near 82 yen.
The Aussie traded near a five-month low against sterling, which rose above A$1.5700 despite a weaker than expected ...
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Bernanke Holds The Dollar In His Hands
Currency weakness remains firmly in fashion as policy-makers continue to adjust to the perverse post-crash environment. Although notionally committed to inflation targets, central banks increasingly have effectively been mandated to seek weaker currencies rather than price stability. The Federal Reserve is likely to keep the quantitative easing carrot within peripheral vision which will also act as an important constraint to dollar gains even with a slightly more confident statement. The Fed will stay on guard and be ready to stamp down on any signs of excessive dollar bullishness. The global policy risks still make buying US currency dips remains the best strategy, but patience will certainly be required.
The Bank of Japan and Finance Ministry will act to block any appreciation of the ...
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Euro slides across the board as Spain weighs
(Reuters) - The euro weakened broadly on Monday, hitting a two-month low against the dollar and the yen and a 1-1/2-year trough versus sterling, weighed down by worries about the Spanish economy's fragile state.
Financial market sentiment in the euro zone was on edge Spain's 10-year government bond yields rose above 6 percent for the first time this year and the cost of insuring its debt hit a record high.
Commodities-linked currencies such as the New Zealand and Australian dollars slipped, while the yen rose to a 1-1/2 month high against the U.S. dollar. A stronger-than-expected U.S. retail sales report for March, however, helped the dollar trim some of its losses against the Japanese currency.
Spanish stocks .IBEX and banking shares .SX7E came under pressure as the effects of the ...
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Euro weak around $1.30 as Spanish debt costs mount
(Reuters) - The euro fell broadly on Monday, dropping to a two-month low against the dollar and the safe-haven yen and reaching a 1-1/2 year trough against the British pound, as Spain rekindled worries about the fragile state of the euro zone economy.
As Spanish 10-year government bond yields rose above 6 percent for the first time this year and the cost of insuring its debt hit a record high, sentiment was cautious across financial markets. That weighed on growth-linked currencies such as the Australian dollar while keeping the yen near a seven-week high against the U.S. dollar.
News over the weekend that China had doubled the yuan's daily trading band against the dollar to one percent has so far had limited impact on major currencies.
Spain's failure to convince investors that it can ...
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Dukascopy Afternnon Forex Overview : 27/03/2012
Dukascopy Fundamental Analysis
EUR
BMW AG, German car maker will recall 120,246 cars in China due to the difficulties with the automobile's batteries, nation's quality control agency reported on Tuesday. The recollection of the Coupe, BMW 6 Series Convertible, BMW 6 Series and BMW 5 Series, vehicles produced between year 2003 and 2010 will begin in May 10. An installation problem of the batteries can create safety risks, quality control agency claimed.
USD
US businesses project slower pace of revenue growth in China in 2012 amid rising operation costs and worries over global stagnation, according to survey of American Chamber of Commerce. About 43% of the firms surveyed expect increase in sales to approach 11% this year as compared to a 15% increase in 2011. The major contributors to ...
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A calm week for the Asian region this week with eyes mainly on Japan
The Asian region is about to start a calm week, as the eyes will be focused on Japan except for Japan that dominates the week's data. The data starts with February's industrial production along with the CPI and the unemployment figures.
Japan’s February preliminary industrial production index is due for release where the prior reading indicated an increase by 1.9%; also February's unemployment data will be released, which is expected to hold at 4.6%.
The Japanese economy is currently struggling to recover and to beat its chronic problems, and on top of these problems comes the yen's ongoing appreciation. The currency recently retreated to its lowest level in 11 months to give some room for Japanese companies; however it's not enough especially after the recent contraction in the fourth- ...
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