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IndustrialTitle:
Dukascopy Afternoon Forex Overview : 05/14/2012
Dukascopy Fundamental Analysis
EUR
Industrial production in the 17 countries that use the euro fell unexpectedly in March, leaving little doubt the region contracted for a second straight quarter in the first three months of the year and returned to recession, data by Eurostat showed Monday.
USD
Stocks fell, commodities declined to their cheapest level this year and the euro weakened to a three- month low on concern that Greece will exit the single European currency and after German Chancellor Angela Merkel’s party lost a state election.
GBP
The government, and many economists, say the U.K.'s austerity plan has succeeded in reassuring financial markets that the government is focused on wrestling down the country's debt, which had ballooned to the highest levels since World War II. As a ...
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Oil slides on euro zone, China fears
Oil fell sharply on Monday, extending recent heavy losses, as mounting political uncertainty in Greece and worry about the prospects for growth in China added to a sense that the demand outlook is worsening.
Adding to jitters about the future of the euro zone, Greece's radical leftist leader spurned an invitation from the president for a final round of coalition talks on Monday, pushing Athens to the brink of fresh polls.
This added to already mounting worries of a global economic slowdown triggered by last week's lackluster industrial output data from China, the world's second-largest economy and oil consumer.
Brent crude was down by $1.65 to $110.61 a barrel by 1307 GMT, stretching its losses into a third session and after settling at $112.26 on Friday.
It earlier fell more than $2, ...
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U.S. Stocks Fall Amid Speculation Greece Will Depart Euro
U.S. Stocks slumped at the open on Monday, sending the Standard & Poor`s 500 Index below key 1,350, with basic materials and energy shares falling the most this morning as concerns grew Greece will lose its euro-membership while the country`s political leaders fail to forge a collation government.
The Political uncertainty is mounting with four parties failing to find a common ground in order to avoid having to call an inevitable new election in June. Should Greece face new elections next month, markets will start to weigh a referendum on Greece staying in the euro.
Leaders of Greece`s main political parties stood rigid in their positions on the country`s debt agreement with European Union to International Monetary fund, making a coalition government barely impossible as European finance ...
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Fear of Greece euro-zone exit sparks sell-off
Global stocks slid and the euro fell to a four-month low on Monday as a political impasse in Greece heralded a potential exit for the country from the euro zone, while a move to prop up lending in China and poor European data pointed to slower world growth.
Safe-haven currencies, including the dollar and the Japanese yen, rose and government debt gained as coalition talks in Greece on Sunday proved fruitless, increasing the chance of another election in mid-June.
Expectations are for the euro to continue falling, driven by speculation over the implications of Greece's possible exit from the euro zone, said Eric Theoret, currency strategist at Scotiabank in Toronto.
"The probability of a euro exit (by Greece) has risen in the past few hours," said Thomas Costerg, an economist at Standard ...
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Oil slides on euro zone, China fears
Oil fell sharply on Monday, extending recent heavy losses, as mounting political uncertainty in Greece and worry about the prospects for growth in China added to a sense that the demand outlook is worsening.
Adding to jitters about the future of the euro zone, Greece's radical leftist leader spurned an invitation from the president for a final round of coalition talks on Monday, pushing Athens to the brink of fresh polls.
This added to already mounting worries of a global economic slowdown triggered by last week's lackluster industrial output data from China, the world's second-largest economy and energy consumer.
Brent crude slipped $1.69 to $110.57 a barrel by 1117 GMT, stretching its losses into a third session, after settling at $112.26 on Friday.
It earlier fell more than $2, and ...
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Euro hits near 4-month trough on Greek deadlock
The euro fell to a near four-month low on Monday as political turmoil gripped Greece, highlighting the risk the country may exit the euro zone, while worries about slowing Chinese and global growth drove down higher-yielding currencies.
Safe-haven currencies including the dollar and the Japanese yen rose as coalition talks in Greece hit an impasse on Sunday, increasing the chance of another election.
Euro zone industrial production unexpectedly fell in March, adding to signs the bloc is heading into recession and further fuelling bearish sentiment, while Spain's short-term debt costs rose at auction and its 10-year yields soared.
The common currency fell to $1.2861 on trading platform EBS, its lowest level since January 23. It has lost 2.7 percent so far this month after losing 0.8 ...
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Wall Street to slide, S&P 500 faces key test
U.S. stock index futures fell sharply on Monday, tracking global equity markets lower as a political impasse in Greece heightened concerns about the Europe's debt crisis as the region struggles to avoid a deepening recession.
Greece's political landscape has been in disarray for a week since an inconclusive election left parliament divided between supporters and opponents of the 130 billion euro ($168.3 billion) EU/IMF bailout, with neither side able to form a government.
The general move out of risky assets, such as equities and commodities, was likely to see the S&P 500 retest an important support level at 1,340 which, if broken, could result in a steeper pullback for the index.
"The world markets are all sharply lower on mounting fears over euro land, Europe's potentially steepening ...
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Global shares, euro hit as political risks pile up
Uncertainty over the impact of a potential Greek exit from the euro on the debt-laden 17-nation currency bloc drove a rush to safety by investors on Monday, sending the single currency to near four month lows and European shares down 1.5 percent.
Problematic negotiations on forming a new Greek government have increased the chances it will be unable to meet the conditions of its bailout deal, and a worsening fiscal position in Spain has added to the sense of crisis facing the region.
The list of political risks facing the euro area grew on Sunday when German Chancellor Angela Merkel's conservatives suffered a crushing defeat 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 ...
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Stock index futures signal lower start
U.S. stock index futures pointed to a lower open on Wall Street on Monday, with S&P 500 futures down 1 percent and contracts for the Dow Jones and Nasdaq 100 down 0.9 percent at 04:53 a.m. EDT (0853 GMT).
European shares hit new four-month lows on Monday as Greece's failure to form a government heightened fears it could quit the euro zone, while signs that China was struggling to shore up its economy cast a shadow on global growth prospects.
Japan's Nikkei .N225 share average inched higher on Monday to end a three-day losing streak.
JPMorgan Chase & Co (JPM.N) lost $15 billion in market value and a notch in its credit ratings on Friday while a chorus of regulators and politicians reacted to its surprise $2 billion trading loss by demanding stiffer oversight for the banking industry.
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