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Japanese Yen RoseTitle:
Sterling Higher, Focus Is On Spain
Sterling Higher, Focus Is On Spain
The euro (EUR) edged lower against the dollar yesterday falling to 1.3057 from 1.3140 before rebounding to 1.3136 during the US session. All eyes now turn to Spain's bond auction and investors are concerned about the country's funding ability after the 10-year Spanish bond yields jumped above 6% last week. Financing troubles in the fourth largest eurozone economy may lead to contagion problems in other economies in the region.
The US dollar (USD) strengthened against a basket of currencies. Against the Japanese yen (JPY), the greenback rose as high as 81.56 from 81 after Japanese data showed a trade deficit in contrast to February's trade surplus. The yen is also weighed by expectations for further monetary easing by the Bank of Japan in an effort to ...
Title:
Dukascopy Morning Forex Overview : 19/04/2012
Fundamental Analysis
EUR
"The debt crisis is far from over still and I think Spain will be worse before it gets better"
- Henrik Drusebjerg, a senior equity strategist at Nordea Bank AB
The seasonally adjusted current account of the euro zone swung a deficit of €1.3 billion in February from a surplus of €3.7 billion in January, said the European Central Bank on Wednesday.
USD
"We got used to companies beating estimates by a pretty good margin"
- Burt White, chief investment officer at LPL Financial Corp.
U.S. stocks fell after Intel Corp. and International Business Machines Corp. disappointed market participants with their quarterly results.
GBP
"… the monetary policy committee is likely to remain on hold on the stock of asset purchases at its May meeting"
- Mauro Giorgio Marrano, an ...
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Yen pressured by Japan importers; all eyes on Spain
(Reuters) - The yen inched lower on Thursday after commodity currencies briefly shot up on hopes China will soon ease policy, and as flows from Japanese importers and 'toushin' investment trusts pressured it against the U.S. dollar, traders said.
The euro is set to come under fresh pressure and test its long-standing support at $1.30 later in the session as Spain tests investors' confidence in its debt-ridden economy when it tries to sell new two- and 10-year bonds.
The dollar rose 0.2 percent to 81.38 yen, near its highest level in about 10 days, with traders citing flows related to a launch of a large toushin by a Japan investment bank.
"The dollar was pushed towards 80 yen this week, but its solid rebound well above 81 yen underscores its underlying strength making it hard for ...
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Dollar Back On Spot As Spanish Debt Fears Ease, IMF Upgrades Growth Outlook
The Greenback is back on the spot on Wednesday, boosted with less safe-haven appeal amid what seems to be an eased debt worries in the 17-bloc euro area, however worries are out there ahead of Spain's upcoming bond auction.
Amid a lack of major fundamentals from the world's largest economy but with yesterday's boost from the International Monetary Fund and its upgrade for global growth outlook, The USDIX, which tracks the U.S currency against six of it's most-traded peers, rose to 79.76 from 79.65.
Gold price lacked upside support as the dollar rose on Wednesday, as the metal fell for the third day trading around $1641.40 an ounce from $1669.72. Crude oil for May 12 delivery fell to trade around $102.70 a barrel from $104.26, slightly above the $102.20 daily low after printing an $104. ...
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Euro dips vs dollar, investors still wary on Spain
(Reuters) - The euro fell against the dollar on Wednesday after French President Nicolas Sarkozy said a strong euro hurt exporters, and it looked set to stay pressured with investors still wary of Spain's fiscal problems and wider euro zone debt contagion.
Traders cited selling by Swiss investors after Sarkozy said the euro's exchange rate should be up for discussion with the European Central Bank.
The euro edged lower throughout the European session to hit a session low of $1.3076. The move erased modest gains made the previous day on upbeat earnings from U.S. companies, decent demand at a Spanish bill auction and a better-than-expected German ZEW sentiment survey.
Market players said the euro could post further losses ahead of a Spanish bond auction on Thursday, and poor demand and ...
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Euro hurt by Sarkozy comments, Spain still in focus
(Reuters) - The euro dipped against the dollar on Wednesday after the French President said a strong euro hurt exporters and should be discussed with the European Central Bank, and it looked set to stay under pressure with investors still wary of Spain's fiscal problems.
Traders cited selling by Swiss investors after French leader Nicholas Sarkozy said the euro's exchange rate should be up for discussion with the ECB.
The common currency hit a session low of $1.3087, falling around 0.3 percent on the day. The move erased modest gains made the previous day on upbeat earnings from U.S. companies, decent demand at a Spanish bill auction and a better-than-expected German ZEW sentiment survey.
Market players said the euro could come under further pressure ahead of a Spanish bond auction on ...
Title:
Eyes Turn To The Bank Of England Minutes
Eyes Turn To The Bank Of England Minutes
The euro edged higher yesterday while world equities turned positive as risk appetite dominated the markets. A higher than expected demand for Spain’s government bonds pushed Spanish yields lower, a positive sign for a country whose borrowing costs almost doubled one month ago. Risk sentiment was also boosted after big US companies posted quarterly profits and after German ZEW Economic Sentiment showed a higher than expected figure. Against the dollar, the euro rose to1.3172 from 1.3090.
The US dollar weakened against a basket of currencies weighed by improved economic data which raised investors’ demand for high yielding currencies. Against the Japanese yen, the greenback rose as high as 81.42 from 80.36 following industrial production in Japan ...
Title:
Dukascopy Morning Forex Overview : 18/04/2012
Fundamental Analysis
EUR
"Yes, the economy avoided falling off the cliff, but it is still flirting with recession"
- Carsten Brzeski, senior economist at ING Group
An index of German investor confidence unexpectedly rose to 23.4 in April from 22.3 in March, said the ZEW Centre for European Economic Research on Tuesday.
USD
"Housing continues to bump along the bottom”"
- Jacob Oubina, a senior U.S. economist at RBC Capital Markets LLC
U.S. housing starts fell in March but building permits rose to highest level since 2009, Commerce Department data showed on Tuesday. Groundbreakings declined to an annual rate of 0.65 million, while permits advanced to 0.75 million.
GBP
"There seems to be a little bit of payback from the previous couple of months’ brisker growth"
- Philip Rush, an ...
Title:
Risk Sentiment improves on the back of earnings and easing EZ concerns
Forex Morning Briefing : Risk Sentiment improves on the back of earnings and easing EZ concerns
What’s new:
Asia: Asian Equities back into positive territory
BoC: BoC minutes sound more hawkish – CB pointing towards an eventual tightening
Japan: BoJ may be raising its inflation forecast USD/JPY moves higher
Rates in Asia and Indices:
EURUSD: 1.3109 - 1.3141.
USDCHF: 0.9144 - 0.9165.
GBPUSD: 1.5917 - 1.5942.
EURJPY: 106.11 - 106.89.
USDJPY: 80.83- 81.43.
DowJones: 13'115.54 +1.5%
NASDAQ: 3’042.82 +1.82%
S & P 500: 1'390.78 +1.55%
Nikkei: 9'667.26 +2.14%
Shanghai: 2'376.77 +1.79%
Gold: $ 1'654.30
Crude Oil: $ 104.48
Comments:
Better earnings reports from the US and quelling concerns over the euro zone issues gave US equity indices some breathing space yesterday evening; the Dow ...
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