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Keeping The Dollar Under PressureTitle:
The Week Ahead: Greece Deal and 3 Central Bank Meetings on Tap
The Week Ahead: Greece Deal and 3 Central Bank Meetings on Tap
Another action packed week awaits as we watch and wait for Greece and the troika to sign on the dotted line, and with three central banks (RBA, BoE and ECB) on tap.
US data
The US employment report on Friday was a very interesting one - but not due to the strong headline data. Rather, the internals show a very confusing picture that require a good dose of explanation, with something for both pessimists and optimists to latch onto. ...
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Greek uncertainty undermines euro, dollar firm
(Reuters) - The euro fell on Monday on mounting investor concern that Greek coalition parties had yet to sign off on the terms of a new bailout, keeping alive the risk of a messy default that could ensnare other countries such as Portugal.
Greece's coalition members must agree to painful terms of a new bailout worth 130 billion euros before euro zone finance ministers next meet, with a Greek government official denying that there was a deadline for the parties to respond to.
A spokesman of the ...
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Greek uncertainty undermines euro, dollar firm
(Reuters) - The euro fell on Monday on mounting investor concern that Greek coalition parties had yet to sign off on the terms of a new bailout, keeping alive the risk of a messy default that could ensnare other countries such as Portugal.
Greece's coalition members must agree to painful terms of a new bailout worth 130 billion euros before euro zone finance ministers next meet, with a Greek government official denying that there was a deadline for the parties to respond to.
A spokesman of the ...
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Greek uncertainty pushes down euro as deadline nears
(Reuters) - The euro fell broadly on Monday on investor concern that Greek coalition parties had yet to sign off on the terms of a new bailout with a deadline imminent, keeping alive the risk of a messy default which could rock the currency bloc.
Greece's coalition members must tell the European Union by noon on Monday (5 a.m. ET) whether they accept the painful terms of a new bailout worth 130 billion euros, with euro zone ministers postponing a meeting planned for Monday due to the delay in ...
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Nervous markets eye U.S. jobs report, Greece
Caution ahead of U.S. jobs numbers kept a lid on gains for stock markets on Friday after an optimistic start to the year that has added more than 7 percent to global company values.
Sentiment was underpinned by data that hinted the euro zone may yet avoid recession, boosting European shares, and that China has room to ease monetary policy.
The U.S. nonfarm payrolls report will be a key catalyst as strong data would fuel growing hopes the global economy is on a firm recovery path, while ...
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Risk currencies struggle on China data; U.S. jobs eyed
The euro and the Australian dollar struggled to make much headway in Asia on Friday as a dip in Chinese non-manufacturing data weighed on sentiment ahead of a key jobs report in the United States.
China's non-manufacturing purchasing managers index fell to 52.9 in January from 56 the month before, prompting traders to lighten positions in risk currencies. That sent the euro to an intraday low of $1.3114, while the Aussie nudged down 0.2 percent to $1.0692.
They recouped most of the losses ...
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Greenback edges up against euro before U.S. jobs report
The euro drifted lower in late New York trade on Thursday, unable to hold gains made after Federal Reserve Chairman Ben Bernanke defended low interest rate policies, a negative for the greenback, saying the U.S. economy still needs official support.
Investors experienced a volatile session that played Bernanke against a still unresolved Greek debt restructuring, despite rhetoric that a deal was imminent. The euro see-sawed between gains and losses, in reaction to the latest headlines.
Bernanke' ...
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Japan finance minister asks BOJ to ease, yen in danger zone
(Reuters) - Japan's finance and economic ministers piled pressure on the Bank of Japan on Thursday to consider easing policy further, as the yen climbs back to levels that led to Tokyo to intervene heavily in currency markets last year to protect its export-reliant economy.
BOJ Deputy Governor Hirohide Yamaguchi said he saw no need to ease policy right away, but the central bank could face growing calls to offer more monetary stimulus to help exporters through any prolonged slump, even though ...
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Pictet Daily forex Analysis - 02/02/2012
PMI figures for January were published in various European countries yesterday; the figures for the previous month are shown in brackets. Switzerland 47.4 (49.1), Italy 46.8 (44-3), France 48.5 (48.5), Germany 51.0 (50.9), UK 52.1 (49.7) and the euro area as a whole 48.8 (48.7).
Swiss retail sales rose 0.6% in December from one year earlier but were down 2.9% compared to the previous month when adjusted for seasonal effects.
CPI inflation stood at 2.7% in January, unchanged from January’s ...
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