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Manufacturing Confidence In The EurozoneTitle:
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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Forex - Stalled Greece Negotiations Will Weigh On Euro Going Forwar
Forex News and Events:
Talks between Greece and its private sector creditors have still not come to a conclusion and there has been a complete absence of updates on progress this week – raising the uncomfortable possibility that negotiations drag on into another week. The immediate consequences of this lack of resolution are clear; EURUSD has repeatedly failed to garner much buying interest up towards 1.3200 as investors remain concerned that talks may still fail, and risk appetite has failed ...
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Forex - Global PMIs Spark Optimisms Over Growth
Forex News and Events:
After a slight pullback in earlier European trades, risk appetite cautiously in Asian session crept back into the markets. EURUSD was range bound between 1.3160 and 1.3200 while AUDUSD continued its strong rally running to 1.0757. Asia’s regional indices were green across the board with the Hang Seng up 1.94% and Shanghais 1.96%. The catalyst was the generally positive manufacturing PMI prints globally which suggested that the global slowdown might now be as deep as ...
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Manufacturing Growth Continues
I have to tell you what’s on my mind this morning after watching the price action again yesterday… I know, it’s just me, and no one else in the writing/analyst world will tell you this, because they have no proof… I don’t either, but that never stops me from saying what’s on my mind regarding these markets now, does it?
After watching time and time again, the overseas markets take the dollar to the woodshed, and then when the New York traders come in, the price action all gets reversed. I ...
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Dukascopy Afternoon Forex Overview : 01/02/2012
Dukascopy Fundamental Analysis
EUR
European Flash CPI y/y for January was in line with expectations at 2.7%; the reading remained unchanged since December. Final manufacturing PMI slightly outperformed the 48.7 forecast and stood at 48.8 in January; the PMI reading still points out a demand contraction among European businesses.
USD
Amazon announced an essential decline in net income and warned of probable loss this year. Net income for Q4 of 2011 achieved USD 177 million as compared to USD ...
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Dukascopy Afternoon Forex Overview : 31/01/2012
Fundamental Analysis
EUR
Jobless rate in Germany declined more than expected in January, reaching 20-year record low. The number of unemployed people fell by 34 000, reaching 2.85 million. Economists earlier predicted a decrease between 8000 and 10 000. The adjusted unemployment rate eased from 6.8% to 6.7% indicating Germany is moving towards better performance than rest of Euro Area nations.
USD
The Institute for Supply Management in Chicago reported an unexpectedly low purchasing managers’ ...
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Weekly Economic and Financial Commentary : 29/01/2012
Weekly Economic and Financial Commentary : 29/01/2012
U.S. Review
Less Strength Than Meets The Eye
Real GDP grew at a 2.8 percent annualized rate during the fourth quarter, but the underlying data show the economy has less momentum going into 2012.
Durable goods orders and shipments rebounded solidly in December, casting some doubt on the earlier weak readings and bringing the data more closely in line with anecdotal reports and regional manufacturing surveys.
Expectations for a ...
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Forex - Fed Initiate Explicit Inflation Target
Forex News and Events:
USD was sold in Asian session as the FOMC sounded very dovish in their pledge to hold rates at near zero “at least through late 2014”. EURUSD climbed to 1.3134 while AUDUSD ran to 1.0642, on broad USD selling. In addition to the commitment to low rates the Fed also committed to explicit inflation targeting for the first time. Core personal consumption expenditure will be now steered towards 2.0% which sent Gold to $1714.72 on the news the fed would officially continue ...
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Dukascopy Morning Forex Overview : 20/01/2012
Fundamental Analysis
EUR
"Spain is showing the market there’s ample demand for their paper"
- Padhraic Garvey, head of developed markets debt strategy at ING Bank NV
France and Spain, both downgraded by Standard & Poor’s last week, paid lower borrowing costs on Thursday, compared to their previous auctions, a sign the ECB’s refinancing operation alleviated market concern over the Europe’s debt crisis.
USD
"You’ve got a gradual improvement in the labor market"
- Brian Jones, a senior U.S. ...
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