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Getting Better All The TimeTitle:
S&P on track for 5th straight day of losses
Stocks fell on Thursday, with the S&P on track for a fifth straight day of declines as weak economic data spooked investors already concerned about the ongoing situation in Europe.
Both the S&P and the Nasdaq fell as much as 1 percent, with the Nasdaq's losses wider as large-cap tech shares fell.
A gauge of future U.S. economic activity fell in April for the first time in seven months and the Philadelphia Fed business conditions index hit its lowest since September, compounding worries about a struggling economic recovery.
Spain's El Mundo newspaper reported that customers at troubled Spanish lender Bankia had withdrawn more than 1 billion euros over the past week, though the Spanish government denied the report. Bankia shares (BKIA.MC) fell 14 percent after sliding as much as 30 ...
Title:
Aussie Mixed in Choppy Trading
Aussie is turning in a mixed performance today as choppy markets look for direction, and try to process all of the difficulties happening in the eurozone. On one hand, Aussie is lower against the US dollar as risk aversion makes an appearance. But, on the other, the Australia dollar is gaining against European currencies weighed down by difficulties.
Against the US dollar, the Australian dollar is losing ground. US dollar is considered a safe haven in times of economic turmoil, so it’s not much of a surprise that the greenback is in demand versus the Aussie. With concerns about bond yields in Spain and Italy, and worries that Greece will end up leaving the eurozone after its political difficulties are sorted, it’s not much of a surprise that many Forex traders seek safe haven in the US ...
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Another mixed week for the superpower…
Ahead of the U.S elections we watch another mixed week be drown regarding the current economical conjuncture of the world`s leading economy with a worsened and widened trade deficit along with better labor and confidence data, yet the recovery is on a slow gradual pace and accordingly a full efficient healing is still far from being witnessed.
In fact throughout the week we watched mixed sentiments getting spread as on one hand the superpower`s trade gap widened more than forecasted on higher imports and on the other hand the country`s jobless claims cheerfully and unexpectedly declined faintly to confirm once again that the labor conditions are improving gradually but remain far from a full recovery and that the gap between imports and exports continue on being immense.
Actually the U.S ...
Title:
Dukascopy Morning Forex Overview : 11/05/2012
Fundamental Analysis
EUR
"The overall manufacturing trend remains weak."
- Pierre-Olivier Beffy, chief economist at Exane BNP Paribas
French industrial production fell in March, said the national statistics office Insee on Thursday. Output contracted 0.9 per cent from February, when it gained 0.2 per cent.
USD
"It’s hard to get nervous that imports are rising."
- Dean Maki, chief U.S. economist at Barclays Capital Inc.
The number of Americans claiming for unemployment benefits fell to 367,000 in the week ended May 5 from 368,000 the week before, said the Department of Labor on Thursday.
GBP
"Our forecast is that they are done with QE, but you can’t rule out more later this year."
- Ross Walker, an economist at Royal Bank of Scotland Group Plc
The Bank of England kept rates on hold ...
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Oil choppy; weighs China, OPEC, U.S. jobs data
Oil prices were mixed in choppy trading on Thursday as investors weighed weaker-than-expected Chinese trade data and higher OPEC production against a better picture of the U.S. jobs market, muddling the oil demand outlook.
China, the world's second largest oil consumer after the United States, saw its exports and imports in April grow at a far slower rate than forecast, government data showed.
Its trade performance that month was also surprisingly weak, and analysts said the government would need to loosen monetary policy to spur expansion or risk missing annual growth targets.
The Organization of the Petroleum Exporting Countries said it pumped 1.62 million barrels more per day, to 31.62 million barrels per day last month as Iraq ramped up output and Libya's oil industry recovered.
...
Title:
Euro Extends Its Trip South As Speculation On Greek Exit Is Growing
Sunrise Market Commentary
- Fixed Income: Core bonds higher at first, but gave back gains in US session
- Fears about Greece and Spain continued to boost core bonds, but a rumours, later confirmed, that the EFSF would today disburse a tranche of the Greek bail-out loan triggered some correction and erased part of the German bond gains and almost all of the US ones. Today, the BoE decision on QE may affect overall bond markets.
- Currencies: euro extends its trip South as speculation on Greek exit is growing
- On Wednesday, trading on global markets was still dominated by negative headlines on Europe. This weighed on the euro. After all, the decline of EUR/USD developed in an orderly way even as several EMU policymakers pondered the option of a Greek exit. Today, the BoE holds ...
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SunBirdFX Daily Market Analysis : 05/07/2012
www.sunbirdfx.com
Wall Street closed the trading week with sharp declines on the background of disappointing Non-farm payroll change, as we estimated after the release of the prior data by the ADP last Wednesday. About 80% of the large 500 companies reported better than expected results for the first quarter of 2012, but the negative atmosphere took over Wall Street on the second part of last week. The investors also ignored the improving unemployment rate that went down from 8.2% to 8.1%.
On the technical aspect, things look less dramatic for the US indices. Dow Jones reached new highs during last week as NASDAQ and S&P 500 did not make any significant change during the recent four weeks, in spite of the high volatility. We mentioned that the S&P 500 had to successfully break-through ...
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SunBirdFX Daily Market Analysis : 05/02/2012
www.sunbirdfx.com
The US stock markets closed yesterday on the green territory as the investors were encouraged by the better-than expected ISM manufacturing data. Dow Jones crossed above the annual highs, but eventually closed under 13300 points after weak finish by NASDAQ that pulled the markets lower.
NZD/USD
The Kiwi has been moving in a triangle against the USD and its looks like it is about to chose the direction soon. Two weeks ago, the NZD broke through the upper hedge, in what looked like the final battle between the buyers and the sellers. However, it ended as a false-break and the pair resumed trading between the triangle's boundaries. However, the angle of this pattern is getting sharper, which means that the pressure of the buyers will soon meet with the pressure of the ...
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Canadian Dollar Receives Boost on Better News
Canadian dollar is getting a boost today, thanks to better sentiment in the financial markets. Loonie is heading higher on better earnings news, as well as reduced fears about what’s next for the eurozone.
Loonie is heading higher today, thanks to a jolt from Apple. AAPL earnings are helping market sentiment, as well as adding to a growing list of companies whose Quarter 1 earnings beat expectations. The good news is helping many high beta currencies, including the Canadian dollar.
Also helping sentiment and boosting the loonie is the reduced fear about what’s next for the eurozone. A German bond auction saw weak demand, and many are assuming that’s because investors aren’t looking for safe, low-yielding investments. In the search for better yields, investors are turning to higher beta ...
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