Increasing Likelihood Of Rba

Dukascopy Fundamental Analysis EUR Magyar Nemzeti Bank may keep its benchmark interest rate unchanged at 7% for a third straight month, analysts said on Tuesday. The central bank is likely to stick to highest interest rate in European Union due to a delay in receiving IMF loan. The Forint strengthened 0.3% versus Euro to HUF 290. USD US February core durable goods orders reading was in line with the forecast at 1.6%, after a sharp fall of 3.0% in January. Durable goods orders rose by 2.2% last month, underperforming versus the forecast of 3.0%. GBP British FTSE 100 declined on Wednesday as data showed the revised British GDP in the 4th quarter declined 0.3% compared to previous estimate of 0.2%. Banks and miners drove the index lower with Barclays PLC and Lloyds Banking Group PLC each ...

Fundamental Analysis EUR Germany's factory orders unexpectedly slipped in January as overseas demand for machinery and similar investment goods fell. Factory orders lost 2.7% compared to a 1.6% gain in December, said Economy Ministry. Economists questioned by Bloomberg earlier predicted an 0.6% increase. On yearly basis orders have dropped 4.9%. Euro erased morning gains on report. USD Republican Mitt Romney, ex-governor of Massachusetts won the primary presidential election in Ohio. Romney gained 38% of votes, followed by former Senator of Pennsylvania Rick Santorum with 37%, Speaker of US house Newt Gingrich with 15% and US Representative Ron Paul with 9% support. GBP After a rapid drop of 1.9% in previous session, British FTSE 100 index retreated and climbed 0.5% on Wednesday as ...

Fundamental Analysis EUR Germany's factory orders unexpectedly slipped in January as overseas demand for machinery and similar investment goods fell. Factory orders lost 2.7% compared to a 1.6% gain in December, said Economy Ministry. Economists questioned by Bloomberg earlier predicted an 0.6% increase. On yearly basis orders have dropped 4.9%. Euro erased morning gains on report. USD Republican Mitt Romney, ex-governor of Massachusetts won the primary presidential election in Ohio. Romney gained 38% of votes, followed by former Senator of Pennsylvania Rick Santorum with 37%, Speaker of US house Newt Gingrich with 15% and US Representative Ron Paul with 9% support. GBP After a rapid drop of 1.9% in previous session, British FTSE 100 index retreated and climbed 0.5% on Wednesday as ...

(Reuters) - The euro slipped against the dollar on Tuesday but stayed within its recent range as investors waited to see whether Greece will agree to painful austerity measures that are crucial for a rescue package to avoid a messy debt default. Optimism over Greece waned during the European session, dragging stocks and risk-sensitive currencies including the Australian dollar down from their highs. For Greece, failure to secure the 130 billion euro ($170 billion) rescue would mean it faces a messy debt default and destabilize the entire euro zone. "Clearly the tail-risk at this time is that developments in Greece lead to a disorderly situation and a sharp move lower in the euro," said Lee Hardman, currency strategist at BTM-UFJ. Citi's chief economist Willem Buiter raised the estimate ...

Fundamental News: Today's highlight; · Fed Chairman Bernanke Testifies. (US, 15:00, GMT) The EUR/USD is trading down at 1.3055 from early 1.3085, having been as low as 1.3028. European trading was a worrisome as investors could not decide what was happening. News from Greece was not promising. Greece failed to agree on new austerity measures across political parties yesterday, a requirement for the proposed bailout to avoid default in March. There was some progress on bank recapitalization. Overcoming the political realities of further austerity after almost 5 years of recession is proving very difficult. There cannot be a new program for Greece unless the conditions of the troika are met,” Merkel said at a joint press conference here with Sarkozy, referring to the European ...

The Week Ahead Highlights September off to an inauspicious start Eurozone concerns ignite again on Greece Shift in thinking on additional Fed easing/QE3 Key data & events to watch next week September off to an inauspicious start August managed to end on a reasonably hopeful note after the drubbing that started the month, but September has started on a decidedly downbeat note. U.S. and European data continue to point to stalling recoveries and the market debate over whether it's merely a slowdown or the start of a double dip recession has been reengaged. While it's too soon to say which way the outlook may break, both prospects are decidedly negative for risk sentiment. Looking ahead, there seems to be little light at the end of the tunnel either, as governments continue ...

The Week Ahead Highlights Crunch time in US debt negotiations QE3 - not so fast Europe's stress test results with a caveat CHF and JPY strength prompts jaw-boning Divergent economic performance in Oceania Key data and events to watch next week Crunch time in US debt negotiations US congressional leaders and the White House appear far from reaching any sort of comprehensive ‘grand bargain' to cut the US deficit and raise the government's debt ceiling. Talks are ongoing, but the rhetoric on both sides seems to be deteriorating, suggesting that compromise may be falling out of reach. Time is tight and a deal needs to be reached by the end of next week to allow for legislative passage before the drop dead date of Aug. 2. At this point, we see three main potential ...

The Week Ahead Highlights * Risk appetite stays resilient * Rate expectations driving the euro amid a deteriorating periphery * Storm clouds gather on the UK's economic horizon * Is AUD strength here to stay? * Key data and events to watch next week Risk appetite stays resilient Despite the global tumult from Japan, Libya, Portugal and elsewhere, investors seem to be embracing risk on the basis that the global recovery is on-going, as we suggested in last week's update. The S&P 500 stock index in the US has regained about ¾ of the decline since Feb. while the Nikkei 225 in Japan has recouped just over half its post-tsunami collapse. The CRB commodities index has also regained about ¾ of recent declines. And the drop in US Treasury yields has now reversed sharply ...

Forex News and Events: FX markets have clearly taken a breather in the Asian session as the recent news flood became a trickle. Risk sentiment firmed with the Nikkei rallying 4.36% and risk correlated FX trades such as the AUD, continued its surge higher (clearing 200d MA). The situation in Japan seems stable, as conditions around the nuclear reactors have improved and reconstruction plans have driven demand for domestic stocks. USDJPY has been consolidating in a range suggesting that lack of demand will increase the likelihood of downside pressure. Overnight, verbal intervention in the JPY has subsided, however we still think the international coalition stands ready to intervene, should USDJPY take a bearish turn. In the MENA region, growing political tensions in Yemen, Bahrain and ...