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Increasing Growth ConcernTitle:
Dukascopy Afternoon Forex Overview : 06/02/2012
Fundamental Analysis
EUR
17-nation currency declined against most of its counterparts on Monday Asian trade as investors awaited Greek officials' response to international creditor requirements. The Euro dropped 0.6% against greenback to USD 1.3085 and lost 0.3% against Japanese Yen, reaching JPY 100.46. Currently EUR/USD is trading at USD 1.3070 and EUR/JPY is trading at JPY 100.30.
USD
Bank of America, JP Morgan Chase &Co and Well Fargo & Co was sued over use of property loan database by ...
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Risk Appetite Set To Freeze
Risk Appetite Set To Freeze
The severe arctic winds have reminded much of Europe that winter still has some bite and, in a similar vein, risk appetite is likely to peak as a more sobering reality returns. A key issue is that governments will look to take advantage of any improvement in conditions to row back on reforms and austerity as they face an increasingly hostile electorate. Key banking-sector reforms are also likely to be delayed with underlying issues left unresolved and business ...
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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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Major Focus in Asia on RBA and Chinese Inflation
This week will observe the release of a several significant economic data, which will highly impact the outlook for Asian economies during the next period amid the uncertainty and concerns that currently affect financial markets.
We will start with the Reserve Bank of Australia (RBA) rate decision, where the analysts’ expectations are for another rate cut by the RBA in order to support economic growth.
This comes after Mr. Stephens and his policy board decided to switch the monetary policy ...
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Gold retreats towards $1,750 after U.S. data
Gold prices slipped on Friday, surrendering gains that earlier took the precious metal to an 11-week high, after better-than-expected U.S. payrolls data lifted the dollar and called into question the prospect of further U.S. quantitative easing.
Expectations that U.S. monetary policy will remain ultra-loose have boosted investors' appetite for bullion this year, lifting prices 12 percent since end December.
Spot gold was at $1,750.29 an ounce at 1409 GMT, down 0.5 percent, having earlier ...
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Brent steady above $112 on Iran; U.S. jobs data eyed
Brent crude held above $112 on Friday as reports that Israel could strike Iran in the spring heightened already simmering tensions in the region.
The market was held back by caution ahead of key U.S. jobs data, which with dragging talks on Greek debt saw Asian shares and the euro weaken.
Front-month Brent crude rose 26 cents to $112.33 a barrel by 2:19 a.m. ET, gaining for a fourth consecutive day. U.S. crude increased 6 cents to $96.42 a barrel, reversing five straight sessions of losses.
" ...
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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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USD/JPY Hits 3-Month Low amid Poor US News
The USD/JPY hit a fresh 3-month low today, as worse than expected news out of the US continued to weigh down on the pair. Rumors have begun circulating that the Bank of Japan (BOJ) may soon intervene in the currency market to limit yen growth. Today, traders will want to once again monitor US economic indicators. Specifically, the weekly US Unemployment Claims figure and a testimony from the Fed Chairman are likely to create market volatility.
Economic News
USD - Dollar Continues to Tumble ...
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Euro boosted by Greek hopes
The euro rallied on Wednesday amid renewed optimism that Greece will reach a deal with its creditors while the yen hit a three-month high versus the dollar for a third day, increasing speculation that Japan may step in to halt its rise.
Greek Finance Minister Evangelos Venizelos said talks with private creditors on a bond swap deal that is key to the country avoiding an unruly default were "one formal step away".
The euro's fortunes have waxed and waned in recent days as investors focused on ...
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