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German Trade BalanceTitle:
The Week Ahead: Greece Deal and 3 Central Bank Meetings on Tap
The Week Ahead: Greece Deal and 3 Central Bank Meetings on Tap
Another action packed week awaits as we watch and wait for Greece and the troika to sign on the dotted line, and with three central banks (RBA, BoE and ECB) on tap.
US data
The US employment report on Friday was a very interesting one - but not due to the strong headline data. Rather, the internals show a very confusing picture that require a good dose of explanation, with something for both pessimists and optimists to latch onto. ...
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Focus of Greek response
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
The euro suffered overnight as fears over the situation in Greece have resurfaced. While the market is hoping for a clinching of a debt swap deal today with private sector creditors, securing cross-party support for further austerity measures and securing further funding from the troika is proving far more difficult. According to political leaders in Athens, the main parties have until noon today (local time) to respond to the troika’s demands, ...
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Asian stocks rise, U.S. jobs gain outweighs Greece
(Reuters) - Asian shares rose on Monday as surprisingly robust U.S. jobs data bolstered investors' risk appetite, but the euro sagged on worries over a lack of progress in Greek debt restructuring talks which are vital to containing the euro zone crisis.
Financial spreadbetters expected Britain's FTSE 100, Germany's DAX and France's CAC-40 to open about 0.2-0.5 percent lower.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 percent after climbing as much as 0.7 percent ...
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Weekly Economic and Financial Commentary : 05/02/2012
Weekly Economic and Financial Commentary : 05/02/2012
U.S. Review
Off to a Good Start for the Year
The employment report for January showed that 243,000 jobs were added with the unemployment rate declining slightly to 8.3 percent. The details of the report however, suggest that unseasonably warm weather may be playing a role in the stronger job gains.
The ISM-Manufacturing Index posted a marginal improvement in January as new orders jumped for the month. Export orders also posted a ...
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European equities surrender earlier gains amid mixed sentiment
The sentiment remained mixed in the market today after the upbeat bond sale from Spain and France, where markets are fluctuating as we can see most of the European stocks surrendered most of the gains recorded earlier, while the euro reversed sharply to the downside against the low yielding U.S. dollar on news that European central banks will take haircut losses on their Greek debt holdings.
The sentiment deteriorated in the market after the German Handelsblatt news paper reported, citing ...
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Results of Spain’s auction on focus
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
Risk assets consolidated yesterday’s gains overnight. The dollar failed to regain lost ground and Asian equities followed the S&P 500 higher. Respectable global manufacturing prints certainly helped, but the gradual easing of sovereign stresses inSpainandItalyprobably played the greater role. We keep our cautious stance however, noting that European austerity measures are mostly only in their early stages of implementation, so there is scope for ...
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Manufacturing Growth Continues
I have to tell you what’s on my mind this morning after watching the price action again yesterday… I know, it’s just me, and no one else in the writing/analyst world will tell you this, because they have no proof… I don’t either, but that never stops me from saying what’s on my mind regarding these markets now, does it?
After watching time and time again, the overseas markets take the dollar to the woodshed, and then when the New York traders come in, the price action all gets reversed. I ...
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Europe in the 99-cent bin
With the Standard & Poor's 500 Index off to its best January in 15 years, it's getting tougher to find cheap stocks in the United States. But it's not much of a problem in Europe.
Sovereign default worries have made the region's shares the cheapest they've been to American investors since 2004.
Companies in the S&P Europe 350 are trading at around 10 times earnings for 2012, compared to 12.2 for the S&P 500. That means investors are getting a 20 percent-plus discount for looking across the ...
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A better-than-expected China PMI gives AUD a temporary boost
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
The price action overnight was largely driven by a better-than-expected China PMI which gave AUD a modest but temporary boost. The euro meanwhile remained under downward pressure as investors digested yesterday’s news reports suggestingGreeceis resisting further austerity measures to bring debt down to sustainable levels, and that negotiations on this front are likely to make slow progress. This is a timely reminder that the proposed bond swap is ...
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