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Cooler weather backs early U.S. natural gas gains
(Reuters) - U.S. natural gas futures were about 3 to 4 cents higher early Tuesday, adding to Monday's gains amid forecasts for cooler weather in the Northeast and Midwest.
Front-month March natural gas futures on the New York Mercantile Exchange were at $2.583 per million British thermal units in early U.S. activity, up 3.3 cents.
The front month fell in late January to $2.231, a contract low and the lowest price for a front month since March 2002, forcing some producers, such as Chesapeake ...
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Gold rebounds as draft Greek deal lifts euro
(Reuters) - Gold prices bounced back into positive territory on Tuesday, paring earlier losses in line with a rallying euro after a Greek official said the government is drafting an agreement on a second bailout.
Spot gold was up 0.3 percent at $1,723.89 an ounce at 1502 GMT (10:02 a.m. EST), having earlier fallen as low as $1,709.29 an ounce, while U.S. gold futures for February delivery were up $1.70 at $1,726.60.
A Greek government official said Greece's government is preparing the text of ...
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Gold eases towards $1,710/oz
(Reuters) - Gold prices eased towards $1,710 an ounce on Tuesday in line with a softening euro as traders awaited a breakthrough on talks over a second bailout deal for Greece, with its leaders fighting to avoid a chaotic debt default.
Spot gold eased 0.4 percent to $1,712.79 an ounce at 1210 GMT (7:10 a.m. EST), while U.S. gold futures for February delivery were down $10.20 at $1,714.70.
While a retreat in stock markets and the euro kept gold under pressure on Tuesday, the precious metal ...
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Dukascopy Morning Forex Overview : 07/02/2012
Fundamental Analysis
EUR
"There is at least still sufficient demand for goods ‘made in Germany’ to keep the industrial engine running in 2012"
- Carsten Brzeski, senior economist at ING Group
German factory orders increased more than expected in December as demand from overseas helped the euro zone’s largest economy to weather the debt crisis. Orders rose 1.7 per cent, after declining 4.9 per cent in November, said the Economy Ministry on Monday.
USD
"You wonder when people are going to look ...
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Asian stocks drop as Greece failed to meet the deadline; focus remains on Europe
As Greece failed to meet Monday’s deadline and did not decided on the terms of a new bailout that will secure the 130 billion euro, the prospects of a default in March widened, which could threaten other euro zone countries. As conditions in Europe may be deteriorating, the outlook for the global recovery is worsening.
This is also making the outlook for the Asian economies gloomy and may lead to more cuts in profit forecasts by companies; thereby investors in Asia lost their appetite for risk ...
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The RBA unexpectedly kept its benchmark interest rate unchanged
Today was the rate decision by the Reserve Bank of Australia, where unexpectedly it kept its benchmark interest rate steady at 4.25%, as it said that the inflation rates will remain within the targeted levels during the next two years.
As, analysts predicted a 54% chance that the RBA governor will cut the interest rate again today as Australia’s job market weakens, yet it wasn’t expected that the RBA's Governor Glenn Stevens will avoid another cut after lowering it to 4.5% from 4.75% on ...
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U.S. farmers to plant largest corn area in 68 years: poll
(Reuters) - U.S. farmers this spring will seed the largest area with corn since World War Two as a mild and dry winter has raised expectations for a quick planting this spring , a Reuters poll of 24 analysts showed, signaling a boost to razor-thin stocks and lower prices in 2012.
The survey showed that farmers were gearing up to plant 94.2 million acres, which could produce a record crop of 13.8 billion bushels based on a trendline yield of 161.4 bushels per acre. It would surpass the previous ...
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Greece wrangling tempers market momentum; RBA holds rates
(Reuters) - Greek resistance to the strict conditions attached to a bailout fund on Tuesday sapped recent momentum in markets spurred by hopes the global economy is improving, and the euro fell on renewed fears of a messy debt default.
The Australian dollar leapt to a six-month high but stocks turned negative after the central bank held rates steady at a review when markets had positioned for a rate cut.
Opinions were divided over whether the wrangling over Greece's debt restructuring talks ...
Title:
Dukascopy Morning Forex Overview : 06/02/2012
Fundamental Analysis
EUR
"The decline in euro-area December retail sales confirms our view that private consumption is likely to have fallen in the fourth quarter"
- James Ashley, senior European economist at RBC Capital Markets
Euro zone retail sales declined unexpectedly in December, said the European Union's statistics office Eurostat on Friday. Retail sales fell 0.4 per cent from November after declining by the same amount in October.
USD
"The report was much better than expected in ...
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