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Gave Us A BuyTitle:
Yen keeps climbing as data saps risk appetite
(Reuters) - The yen held at two-month highs against the dollar on Tuesday, having rallied across the board overnight as investors snapped up the safe-haven currency after disappointing economic news from Canada to Spain tempered risk sentiment.
Data showing Spain slipping into recession, Canada's economy unexpectedly shrinking in February and business activity in the U.S. Midwest falling sharply gave markets the green light to cash in on recent gains in risk assets.
The dollar fell as deep as 79.73 yen, bringing the 100-day moving average at 79.58 in focus. It last stood at 79.85. The euro skidded to a two-week low at 105.47 yen, before steadying at 105.74.
Traders said final month-end positioning on Monday also contributed to the choppy price action.
The market is now bracing for the ...
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Technical analysis of the GBP/USD pair on April 30th, 2012
Commentary of the GBP/USD pair :
The pair GBP/USD has continued its bullish movement and the breakout of 1.62 and 1.6250 both gave us a new buy signal.
All indicators are bullish.
The pair is still moving above its long term bullish slant (black line).
We continue to advise long positions as far as 1.6150 is support.
The breakout of 1.63 will give a new buy signal and open the way towards 1.6350.
In case of return below 1.6150, we will wait the breakout of 1.61 to advise short positions.
See the previous analysis of the GBP/USD pair of April 26th, 2012
GBP/USD Analysis
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Technical analysis of the NZD/USD pair on April 30th, 2012
Commentary of the NZD/USD pair :
A strong bullish movement occured on the pair NZD/USD and the breakout of 0.8206 gave us a buy signal.
Currently, the pair is testing the resistance at 0.8235.
All indicators are bullish.
We now advise to trade the pair according to the key level at 0.8180 :
- Long above this level. The breakout of 0.8235 and 0.8283 will both give a new buy signal
- Short below this level. The breakotu of 0.8134 and 0.81 will both give a new sell signal.
See the previous analysis of the NZD/USD pair of April 26th, 2012
NZD/USD Analysis
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Dukascopy Afternoon Forex Overview : 27/04/2012
Fundamental Analysis
EUR
Spain's credit rating was lowered by Standard & Poor's for a second time in 2012 on enduring worries the nation will have to apply additional fiscal backing to lenders as the economy shrinks. S&P cut its long term grade for Spain from A to BBB+ adding a negative outlook. Country's short term rating was lowered from A-1 to A-2, S&P agency reported on Thursday.
USD
Crude oil price declined from almost 4-week high in New York trade after S&P ratings agency cut Spain's sovereign credit rating, boosting concerns that further recession in Europe may halt demand for crude. Oil to be delivered in June lost USD 0.61, reaching USD 103.94 a barrel. June Brent oil gave up USD 0.49 and traded at USD 119.43 a barrel.
GBP
Today the Great Britain Pound extended its gains ...
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Dollar falls vs. euro and yen after GDP data
(Reuters) - The dollar fell to multi-week lows against the euro and the yen on Friday after a report showed U.S. economic growth cooled in the first quarter, raising the prospect of further stimulus from the Federal Reserve.
The weaker-than-expected growth showed businesses cut back on investment and restocked shelves at a moderate pace at a time when investors are worried that lack of job creation will stem consumer spending.
The euro was already higher after a smooth Italian bond auction eased concerns over peripheral euro-zone debt markets and offset jitters sparked by a downgrade of Spain's sovereign debt and dismal Spanish economic data.
The U.S. economic data added to the dollar's woes, sending it to its lowest since mid-April against the yen.
"GDP was worse-than-expected, and ...
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Global stocks, euro choppy on mixed data
(Reuters) - U.S. equities rose slightly on Thursday as solid U.S. home sales data buoyed optimism and outweighed discouraging labor market figures.
Global equities and the euro also edged higher, despite simmering worries over the euro zone.
Contracts to purchase previously owned U.S. homes increased solidly to a near two-year high in March, offering hopes of a pick-up in housing.
U.S. stocks rose shortly after the data, with the euro advancing against the dollar as well.
"In any case, progress on the housing market is going to be slow and gradual," said ING's Teunis Brosens. "The pick-up in sales over the past few months appears to be at least partly driven by all-cash buyers."
The pending home sales data is an important clue to existing home sales, Brosens added. "Slowly but surely, ...
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U.S. homes data buoy stocks, euro
(Reuters) - Stocks and the euro edged higher on Thursday, boosted by solid home sales data, but disappointing labor market figures and simmering worries over the euro zone kept gains in check.
Contracts to purchase previously owned homes increased solidly to a near two-year high in March, suggesting the spring selling season got off to a firmer start and offering hopes of a pick-up in housing.
Stocks rose shortly after the data, with the euro advancing against the dollar despite choppy trading early in the New York session.
"In any case, progress on the housing market is going to be slow and gradual," said ING's Teunis Brosens. "The pick-up in sales over the past few months appears to be at least partly driven by all-cash buyers."
The pending home sales data is an important clue to ...
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Gold noses at $1,650 per oz after Fed meeting
(Reuters) - Gold rose for a third day on Thursday as weak employment figures and a pledge by the Federal Reserve the previous day to keep interest rates near zero weighed on the dollar and teased out some investor demand.
Data showed first-time claims for unemployment benefits in the United States were broadly unchanged last week, while a longer-term gauge rose to its highest level since January, undermining the dollar..
Gold usually trades inversely to the dollar as weakness in the U.S. currency makes it cheaper for non-U.S. investors to buy the metal.
Spot gold was up 0.4 percent at $1,649.84 an ounce at 1355 GMT, while U.S. gold futures for June delivery were up 0.5 percent at $1,651.00.
"There is little reason to sell gold at the moment," Andrey Kryuchenkov, an analyst at VTB ...
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YouTradeFX Daily Market Analysis : 26/04/2012
Fundamental News
Today’s highlights:
Initial Jobless Claims (U.S 13:30 GMT)
Pending Home Sales (MoM) (U.S, 15:00 GMT)
German CPI (MoM) (GER, Tentative)
BBA Mortgage Approvals (GB, 09:30 GMT)
The U.S. economy continues to expand at a moderate pace despite the "temporary" impact of higher energy prices, the Federal Reserve announced in making its latest decision on interest rates Wednesday. There were no major shifts in the Fed's accommodative monetary policy and the decision to keep its benchmark rate at effectively zero was in line with economist expectations. However, Federal Reserve Chairman Ben S. Bernanke said the central bank stands ready to add to its stimulus if necessary.
The FOMC “expects economic growth to remain moderate over coming quarters and then to pick ...
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