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Improving Euro ZoneTitle:
Economy gaining momentum, housing shows a pulse
(Reuters) - New U.S. claims for jobless benefits rose last week but the underlying trend pointed to an improving labor market, while regional factory data showed the economy gaining momentum as the year ended.
The growth picture was brightened by other data on Thursday showing pending sales of previously owned homes jumped to a 1-1/2 year high in November, adding to signs of a tentative recovery in the housing market.
Indications the economy was wrapping up the year on a much firmer footing than had been previously anticipated leaves it better positioned to deal with headwinds from the festering debt crisis in Europe and fiscal tightening at home.
"The data have maintained their stronger tone and that suggests the economy is on an upswing towards the end of 2011, but they are not ...
Title:
Dukascopy Afternoon Forex Overview : 29/12/2011
Fundamental Analysis
EUR
Germany's inflation rate decreased in December as European region's sovereign debt turmoil is hurting economic expansion. The inflation rate fell from 2.8% in November to 2.4% in current month. The reading matches economists' expectations. Euro area countries are facing severe spending cuts to reduce debt which hampers growth and as a result, the inflation, said Marina Luetje, Dekabank's economist.
USD
In US the number of people applied for unemployment benefits jumped more than expected last week. The number of residents, filing the application for jobless benefits reached 381,000, adding 15,000 on a seasonally adjusted basis. Experts predicted the figure to approach 370,000. Despite increase in claims, the figure is still below 400,000, indicating improving ...
Title:
Jobless claims rise but labor market healing
(Reuters) - New claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, but the underlying trend continued to point to improving labor market conditions.
Initial claims for state unemployment benefits increased 15,000 to a seasonally adjusted 381,000, the Labor Department said. The prior week's claims data was revised up to 366,000 from the previously reported 364,000.
Economists polled by Reuters had forecast claims rising to 375,000. A Labor Department official said that because of a public holiday on Monday, claims from seven states - including California and Virginia - had been estimated.
The four-week moving average - a better measure of trends - fell 5,750 to 375,000, the lowest level since June 2008.
"We've seen a pretty strong ...
Title:
Activity getting sleepy
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
Financial markets remain sleepy, although data and news flow has started to pick up.
Italy undertook two successful auctions on Tuesday, selling 179-day bills at 3.251% (vs 6.504% on Nov 25.) and 2013 bonds at 4.853% (vs 7.814% on Nov 2). A bigger test will come tomorrow when the treasury taps the market for EUR5-8 bn of 3-, 7- and 10-year bonds, although today’s successful auction bodes well.
The Swiss KOF indicator was +0.01, much lower than consensus and a further indication of deteriorating conditions inSwitzerland. In theUS, data continues to impress, Monday’s consumer confidence print came in above consensus at 64.5. OurUS economists note that the larger-than-expected gain in confidence reflected gains in both the expectations (76.4 ...
Title:
Gold dips, tracks equities on Iran, euro zone worries
(Reuters) - Gold dipped on Wednesday, tracking industrial metals and equities, as concerns about global economic growth and Iran's threat to stop the flow of oil kept investors on the sidelines.
Latest data out of the United States sent mixed signals on the health of the world's largest economy. Improving labor market conditions lifted consumer confidence to an eight-month high in December, but persistently weak house prices remain an obstacle to faster economic growth.
Spot gold was down 0.1 percent at $1,590 an ounce at 1146 GMT. U.S. gold was off 0.14 percent to $1,592.80.
Iran's threat put world shares on the back foot, and industrial metals eased in thin holiday trade.
Title:
Oil eases after Iran threat, Italy gets debt boost
(Reuters) - Crude prices broke a six-day rally on Wednesday after Iran's threat to stop the flow of oil from the Gulf was written off as no more than rhetoric, while a strong short-term Italian debt sale eased stress in European markets.
Tehran said on Tuesday it would stop oil transiting through the Strait of Hormuz if sanctions were imposed on its crude oil exports because of its nuclear ambitions. Washington said it saw "an element of bluster" in the threat.
Brent fell 0.9 percent to $108.28 a barrel by 1150 GMT after climbing more than a dollar in the previous session. Prices have surged over 5 percent since December 16.
Title:
Gold dips, tracks equities on Iran, euro zone worries
(Reuters) - Gold dipped on Wednesday, tracking industrial metals and equities, as concerns about global economic growth and Iran's threat to stop the flow of oil kept investors on the sidelines.
Latest data out of the United States sent mixed signals on the health of the world's largest economy. Improving labor market conditions lifted consumer confidence to an eight-month high in December, but persistently weak house prices remain an obstacle to faster economic growth.
Spot gold was down 0.1 percent at $1,590 an ounce at 1146 GMT. U.S. gold was off 0.14 percent to $1,592.80.
Iran's threat put world shares on the back foot, and industrial metals eased in thin holiday trade.
Title:
Oil eases after Iran threat, Italy gets debt boost
(Reuters) - Crude prices broke a six-day rally on Wednesday after Iran's threat to stop the flow of oil from the Gulf was written off as no more than rhetoric, while a strong short-term Italian debt sale eased stress in European markets.
Tehran said on Tuesday it would stop oil transiting through the Strait of Hormuz if sanctions were imposed on its crude oil exports because of its nuclear ambitions. Washington said it saw "an element of bluster" in the threat.
Brent fell 0.9 percent to $108.28 a barrel by 1150 GMT after climbing more than a dollar in the previous session. Prices have surged over 5 percent since December 16.
Title:
Gold falls, tracks equities on Iran, euro zone worries
(Reuters) - Gold fell on Wednesday, tracking industrial metals and equities lower, as concerns about global economic growth and Iran's threat to stop the flow of oil kept investors on the sidelines.
Latest data out of the United States sent mixed signals on the health of the world's largest economy. Improving labor market conditions lifted consumer confidence to an eight-month high in December, but persistently weak house prices remain an obstacle to faster economic growth.
Spot gold was down 0.5 percent at $1,585.70 an ounce by 0933 GMT, on course for a third consecutive session of losses. U.S. gold fell 0.6 percent to $1,586.40.
Iran's threat put world shares on the back foot, and industrial metals eased in thin holiday trade.
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