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Dukascopy Afternoon Forex Overview : 07/02/2012
Fundamental Analysis
EUR
17-nation currency slipped against most of its peers before Greece's PM Papademos meets with politicians from three leading parties as officials still cannot agree on debt reduction plan. The meeting scheduled on Tuesday. Greece representatives and creditors still have to agree on EUR 600 million of fiscal measures for this year. Euro declined 0.2% to USD 1.3109 in London trade. Currently EUR/USD is trading at USD 1.3116.
USD
US President Obama ordered to freeze all ...
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Windsor Brokers - Short Term Technical Analysis for Majors (09:30 GMT)
EUR/USD
Has regained some ground after yesterday’s weakness was contained at key near-term support and range floor at 1.3025. The downside remains vulnerable, as long as key barriers at 1.3200/32 cap the upside. This morning’s fresh strength probed levels above bear-trendline at 1.3160, however, sustained break here is required maintain fresh strength off 1.3025 for possible attack at 1.3200/32. Hourly studies are turning positive, with 20 day SMA at 1.3110, underpinning. On the downside, break ...
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Lack of Greek Deal Sends EUR Tumbling
The euro was largely bearish yesterday, after Greece once again failed to come to an agreement with its creditors to restructure its debt. Losses were seen against most of its main currency rivals, including the US dollar, Japanese yen and British pound. Today, in addition to any euro-zone developments that may occur, traders will want to pay attention to a speech from the US Fed Chairman at 15:00 GMT. Any positive statements could help the USD extend its recent bullish trend.
Economic News
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Pictet Daily forex Analysis - 02/07/2012
The Reserve Bank of Australia left interest rates unchanged at 4.25%.
German manufacturing orders rose 1.7% month-on-month in December.
Nicolas Sarkozy said the Greek situation should be settled once and for all. The Troika will not release the next instalment of bail-out funds if Greece does not take the required austerity measures.
The ECB bought EUR 124 million worth of bonds last week compared to EUR 63 million the week before.
USD/CHF
The USD/CHF has struggled to break out of its all ...
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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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Windsor Brokers - Short Term Technical Analysis for Majors (14:30 GMT)
EUR/USD
Near-term price action shows the pair under pressure, after several unsuccessful attempts at 1.32 barrier. While daily Ichimoku cloud continues to cap the upside, focus remains at lower targets, as the pair tested near-term range floor at 1.3025 so far. Negative hourly studies see scope for test of 1.3000, figure support / Fib 38.2% of 1.2622/1.3232 upleg, ahead of next significant level at 1.2930, 25 Jan low / Fib 50%. Negative news from Greece, put additional pressure on Euro. Upside ...
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Weekly Economic and Financial Commentary : 05/02/2012
Weekly Economic and Financial Commentary : 05/02/2012
U.S. Review
Off to a Good Start for the Year
The employment report for January showed that 243,000 jobs were added with the unemployment rate declining slightly to 8.3 percent. The details of the report however, suggest that unseasonably warm weather may be playing a role in the stronger job gains.
The ISM-Manufacturing Index posted a marginal improvement in January as new orders jumped for the month. Export orders also posted a ...
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The Weekly Bottom Line : 05/02/2012
The Weekly Bottom Line : 05/02/2012
HIGHLIGHTS OF THE WEEK
United States
U.S. economic indicators for January point to renewed momentum in early 2012. Non-farm payrolls expanded by a vigorous 243K, and the unemployment rate fell to 8.3%.
Vehicle sales rose 4.6% to 14.1 million (SAAR) in January, reaching the highest level in over three and half years and surpassing the one-time shot in the arm provided by the cash for clunkers stimulus program.
ISM manufacturing and non- ...
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Dollar up versus yen on U.S. jobs data, holds steady versus euro
Robust U.S. jobs data spurred investors to buy the U.S. dollar and sell yen on Friday with the rosier economic report curtailing some expectations the U.S. Federal Reserve will hold off raising interest rates until 2014.
The strong jobs data diminished the greenback's safe haven status as investors took on more risk. The main beneficiary was the euro where initial losses on the report were erased by the end of trade despite the overhang of Europe's sovereign debt crisis.
Data from the U.S. ...
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