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Increasing Growth ConcernTitle:
Dukascopy Morning Forex Overview : 05/17/2012
Fundamental Analysis
EUR
"We expect euro-region inflation to normalize in 2013"
- Michael Schubert, an economist at Commerzbank AG
Inflation in the seventeen nation bloc eased to 2.6 per cent in March from 2.7 per cent the previous month, said the European Union’s statistics office in Luxembourg on Wednesday.
USD
"Uncertainty about Greece and the effects a potential exit out of the euro would have on Europe, the global economy and the financial system in general is driving investors out of stocks into safe havens"
- Markus Huber, head of German sales trading at ETX Capital
The Standard & Poor's 500 lost 0.44%, or 5.86 points, to 1,324.80. The Dow Jones Industrial Average declined by 0.26%, or 33.45 points, to 12,598.55.
GBP
Unemployment figures are a "welcome step in the right ...
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Crude recovers some losses but its momentum remain negative
After falling to the lowest in six months after talks to form a new Greek government failed yesterday, crude recovered some the losses trading around the $93.00 level as the dollar is losing momentum trading around 81.25.
Crude is trading as of this writing around today’s opening at $93.12, while the lowest for today is found at $91.79, the lowest in six months, while the highest is found at $93.42. Brent is trading around $111.46 after falling 0.69%.
The Greek President Karolos Papoulias failed yesterday to form a ruling coalition, raising concerns that Greece will to exit the euro zone after June’s elections during which the far-left anti-bailout party Syriza is expected to win.
Also weighing down on sentiment was the expected rise in the US crude inventories during the week ending in ...
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YouTradeFX Weekly Market Analysis : 05/16/2012
Fundamental News
Today’s highlights:
Claimant Count Change (GB, 09:30 GMT)
Core CPI (YoY) (EUR, 10:00 GMT)
German 10-Year Bund Auction (GER, 10:30 GMT)
BoE Gov King Speaks + BoE Inflation Report (GB, 10:30 GMT)
Manufacturing Sales (MoM) + Building Permits + Housing Starts (U.S., 13:30 GMT)
Industrial Production (MoM) (U.S., 14:15 GMT)
ECB President Draghi Speaks (EUR, 15:00 GMT)
FOMC Meeting Minutes (U.S., 19:00 GMT)
The Department of Labor revealed that consumer prices in U.S were flat in April compared to the previous month. While the Commerce Department said that U.S retail sales edged up by 0.1 percent in April following a revised 0.7 percent increase in March and the business inventories rose by 0.3 percent in March following a 0.6 percent increase ...
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Asian stocks dropped as risk appetite vanished amid worries over Greece
After the talks to form a new Greek government failed yesterday, Asian investors lost their appetite risk, especially amid downbeat economic data from Japan and Australia which weighed down on sentiment even more, dragging the MSCI Asia Pacific Index down 2.5%.
The Greek President Karolos Papoulias failed yesterday to form a ruling coalition. This means the country will hold new elections in June. This time the far-left anti-bailout party Syriza is expected to win, which may push the country to exit the euro zone.
Also weighing down on sentiment was the unexpected drop in Japan’s machine orders by 2.8% in March compared with a year earlier, and a report showing that new lending by China’s biggest-four state-owned banks was flat in the first two weeks of May.
Meanwhile, the Australian ...
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Oil falls as Greece, China feed economic worry
Oil prices fell on Monday as Greece's inability to form a coalition government and concerns about a slowing Chinese economy fed worries about the outlook for petroleum demand.
Greece's turmoil triggered selling in dollar-denominated copper and gold, sending a benchmark commodities index to a 19-month low, while pressuring the euro to a four-month low against the dollar and weighing on the stock market.
Hedge funds and large speculators made the biggest-ever cuts in their net long U.S. crude futures and options positions in the week to May 8, according to government data released on Friday, adding to this week's bearish sentiment.
Crude futures extended losses that, in the two weeks ending on Friday, left Brent crude down 6.2 percent and U.S. crude off 8.4 percent.
"The situation in ...
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Aussie Struggles on the Forex Market
Australian dollar is struggling on the Forex market, especially against the US dollar. Concerns about what’s happening in Europe are affecting risk appetite, and sending Forex traders away from riskier assets like the Aussie and to low beta currencies like the US dollar and the Japanese yen.
Risk appetite is playing a big role in the Australian dollar’s performance today. Concerns that the Greece might actually leave the eurozone are increasing, and there are worries that Spain can’t handle its debt. This risk appetite is leading to losses by high beta currencies like the Australian dollar against low beta currencies like the US dollar and the Japanese yen. Australian dollar is, however, higher against the euro, since the euro is in such a bad state.
The Aussie’s case isn’t being helped ...
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Riskier assets hit as Euro zone worries grow
The euro hit four month lows and shares fell on Monday as the increasing likelihood of a new election in Greece worsened the sense of crisis in the euro zone and China's latest move to loosen monetary policy only added to investor risk aversion.
The refusal of a major leftist party to join a new Greek government has brought the prospect of its exit from the euro a step closer. The region's finance ministers, gathering in Brussels, also face a worsening fiscal position in Spain.
Adding to the negative tone for the higher risk sector, German Chancellor Angela Merkel's conservatives suffered a crushing defeat on Sunday in an election in Germany's most populous state.
"Selling rallies in risk assets seems the best way to make money in most asset classes given the event risk is still very ...
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YouTradeFX Weekly Market Analysis : 14/05/2012
Consumer sentiment in the U.S. rose to 77.8 in May from the final April reading of 76.4, according to a report released by Reuters and the University of Michigan on Friday. While, the Labor Department said on Friday that its producer price index fell by 0.2 percent in April. According to Bloomberg news, Sales at U.S. retailers probably slowed in April as the weather turned more seasonable and consumers took a breather following a pre-Easter holiday buying spree, economists said before a report this week. The projected 0.2 percent gain in purchases would follow a 0.8 percent advance in March, according to the median forecast of 68 economists surveyed by Bloomberg News ahead of Commerce Department figures on May 15. Events in the U.S, likely to affect the markets this week are: Monday; a ...
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YouTradeFX Daily Market Analysis : 11/05/2012
Fundamental News
Today’s highlights:
- PPI Input (MoM) (GB, 09:30 GMT)
- Core PPI (YoY) (U.S, 13:30 GMT)
- Unemployment Rate (CAD, 13:30 GMT)
- Michigan Consumer Sentiment (U.S. 14:55 GMT)
The U.S. Department of Labor revealed that initial jobless claims came in at 367,000 for the week ended May 5. This was down 1,000 from the previous week's revised figure of 368,000. The Commerce Department released a report on Thursday showing that the U.S. trade deficit widened to $51.8 billion in March from a revised $45.4 billion in February.
Inflation in China eased in April, fueling expectations that the People's Bank of China may ease policy further amid slowing economic activity. The National Bureau of Statistics reported Friday that inflation eased to 3.4 percent in April from 3. ...
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