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Index Traded At ItsTitle:
Negative outlook in EU sends EUR/USD to new 2012 lows
MORNING BRIEFING: Negative outlook in EU sends EUR/USD to new 2012 lows
What’s new:
Asia: Japanese CPI in line with expectations. Risk mixed overnight. EUR/JPY consolidates below 100.
United States: Soft core durables send GDP forecasts down. USD gaining against most peers
Europe: Decent indices, but Euro selling off. Still focus on Greece and the lack of progress.
Rates in Asia and Indices:
EUR/USD 1.2519 1.2561 0.21 %
USD/CHF 0.9567 0.9606 0.16 %
GBP/USD 1.5648 1.5676 -0.00 %
USD/JPY 79.54 79.82 -0.06 %
EUR/CHF 1.2012 1.20375 -0.03 %
EUR/JPY 99.73 100.06 -0.25 %
Dow Jones 12419.63 12539.59 0.26 %
Nasdaq 2512.35 2554.2 ...
Title:
Gold inches up, yet heading for a weekly decline
Gold inched up on Friday’s early trading yet remains under pressure amid worries from the euro area on speculations the European debt crisis is materializing on possible Greek exit from the euro area and macroeconomic degradation.
On Wednesday, the informal EU summit showed disagreement over introducing Eurobonds as German Chancellor Angela Merkel said after the EU summit that her country support her opposition to jointly issued common European bonds.
However, after the end of the EU-27 summit yesterday Italian Prime Minister Mario Monti said he persuade Germany to accept launching common bonds, stating that “Europe can have euro bonds soon.”
He also announced that Greece will probably remain in the euro bloc even as “anything can happen.”
On the other hand, reports released ...
Title:
Stocks eke out gains, euro falls
(Reuters) - Global stocks eked out gains on Thursday while the euro fell as data suggested Europe's debt woes were spreading and worsening a global economic slowdown, adding to investor concerns about Greece's possible exit from the euro zone.
In a volatile session, investors looking for bargains initially bought equities, oil and gold, which have been beaten down this week by worries a Greece exit would deepen the euro zone debt crisis.
The appetite for growth-oriented assets faded as fears about the euro zone's drag on the world economy returned. Then for a second straight day, a wave of buying emerged shortly before Wall Street's close.
"The market has pulled back far enough that people are trying to assess if we've priced the worst of what's known. But with the problems in Europe ...
Title:
Global stocks, euro slip on weakening growth
(Reuters) - U.S. stocks and the euro edged lower on Thursday as data suggested Europe's debt woes were spreading and worsening a global economic slowdown.
In a volatile session, investors looking for bargains earlier bought equities, oil and gold which have been battered this week by worries Greece would leave the euro zone. But the buying of growth-oriented assets faded as worries about the euro zone's drag on the world economy returned.
Stocks and other riskier assets turned negative as disappointing data from Europe, China and the United States compounded concerns about the economic contraction moving across Europe.
Amid speculation of more coordinated efforts from major central banks to stem further deterioration of the euro zone debt crisis, bond yields of Spanish, Italian and ...
Title:
Gold rebounds on the dollar’s drop, yet still faces pressure
Gold managed to rebound after the release of softer than expected U.S. durable goods report which pushed the dollar down and gave an advantage to dollar-denominated commodities.
The report showed that durable goods advanced 0.2% in April from a revised of -3.7%.
Accordingly, the U.S. dollar reversed its earlier gains to drop against a basket of major currencies. The dollar index fell to a low of 81.84 after touching a high of 82.36.
Recently, the inverse relation is becoming stronger and mainly the shiny metal’s direction is relying on the dollar’s movements.
However, gold may once again track the losses in the euro which remains under pressure amid worries the debt crisis is intensifying.
Yesterday, the informal EU summit showed disagreement over introducing Eurobonds as German ...
Title:
European Market Update : 24/05/2012
Major European PMI Manufacturing data misses expectations; German IFO Business Confidence falls for the first time in 7 months
Economic Data
(RU) Russia Gold & Forex Reserve w/e May 18th: $514.3B v $518.8B prior
(DE) Germany Q1 Final GDP Q/Q: 0.5% v 0.5%e; Y/Y: 1.7% v 1.7%e; GDP WDA Y/Y: 1.2% v 1.2%e
(DE) Germany Q1 Private Consumption: 0.4% v 0.2%e; Government Spending: 0.2% v 0.3%e; Domestic Demand: -0.3% v 0.0%e; Capital Investment: -1.1% v -0.3%e; Construction Investment: -1.3% v -0.4%e; Exports: 1.7% v 0.9%e; Imports: 0.0% v 0.3%e
(CH) Swiss Apr Trade Balance (CHG): 1.3B v 1.9Be; Real Exports M/M: -0.9% v +0.2%e; Real Imports M/M: 2.6% v 5.9% prior
(FI) Finland Apr PPI M/M: -0.1% v +0.4% prior; Y/Y: 1.4% v 1.4% prior
(FI) Finland Apr Preliminary Retail Sales Volume Y/Y: -2.0% v ...
Title:
Gold under pressure after EU summit, eyes to track European manufacturing and services
Gold is showing slight decline on Wednesday’s early trading to continue its drop for the third consecutive session on worries from the euro area amid frictions among European leaders over methods to tackle crisis and amid speculations of Greek exit to the euro area.
The main highlight yesterday was the informal EU summit that tackled euro area fiscal problems, where the meeting showed disagreement over introducing Eurobonds as German Chancellor Angela Merkel said after the EU summit that her country support her opposition to jointly issued common European bonds.
On the other hand, still there are many speculations that Greece may leave the euro zone which would lead to many negative consequences on European banks providing loans to Greece.
As long as debt crisis is intensifying, gold is ...
Title:
CAD Reaches Four-Month Low vs. USD
The Canadian dollar slipped to the four-month low against its US counterpart and the three-month low versus the Japanese yen. The currency gained against the euro and the Australian dollar.
Interestingly enough, traders were scared by the meeting of European chief in Brussels tonight. Previously, the European Union summits were a source of optimism for market participants, but it looks like now people just get tired from empty promises and do not believe that anything good would come out from the meeting. Speculators are still worried that Greek elections on June 17 may result in an exit of the country from the eurozone.
Commodities taken a beating and fell on negative market sentiment. The Standard & Poor’s GSCI Index, which tracks 24 commodities, fell 1.9 percent. It is not a surprise ...
Title:
Global stocks, euro fall on Greece exit worries
(Reuters) - World stocks skidded and the euro fell to a 21-month low on Wednesday on worries about Greece's possible exit from the euro zone, which threatened to deepen the region's debt crisis and hurt an already fragile global recovery.
Nervous investors piled into low-risk U.S. and German government debt, sending their yields lower. The dollar also was favored as a safe haven by investors.
Each euro zone country will have to prepare a contingency plan for the possibility of Greece's leaving the bloc, three euro zone sources told Reuters, citing an agreement reached by officials.
A scramble for low-risk investments enabled Germany to pay no interest on 5 billion euros in new two-year debt amid the absence of new measures to tackle the region's debt crisis from a European leaders' ...
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