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Market Concern Is OnlyTitle:
An unchanged confidence is projected for the U.S
The present recovery of the superpower remains moderate and on track with mixed sentiments so far spread this week on a local and global scale regarding the companies` orders, housing activities and Greece, yet no true change has been witnessed and therefore most probably later on the day we will watch an unchanged confidence for this month.
In fact later on the day we will watch the University of Michigan Confidence final reading of this month released and highly projected by the market to come in unchanged at 77.8, indicating clearly that consumer confidence regarding personal finances, business conditions and purchasing power.
No wonder that yesterday we had the Commerce Department showing us that the demand for business equipment in the U.S plunged in April as companies across the U. ...
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YouTradeFX Daily Market Analysis : 25/05/2012
Fundamental News
Today’s highlights
- GfK German Consumer Climate (GER, 07:00 GMT)
- French Consumer Confidence (FRA, 07:45 GMT)
- Spanish PPI (YoY) (SPAIN, 08:00 GMT)
- Employment Level (SUI, 08:15 GMT)
- Michigan Consumer Sentiment (U.S., 14:55 GMT)
According to the Labor Department, new unemployment claims in the U.S came in at a seasonally adjusted level of 370,000, a slight decline from the previous week's revised level of 372,000. While, U.S durable goods orders edged up by 0.2 percent in April after tumbling by 3.7 percent in March, the Commerce Department said in a report on Thursday.
According to Bloomberg, China’s biggest banks may fall short of loan targets for the first time in at least seven years as an economic slowdown crimps demand for credit, three ...
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Euro Corrects Some of the Losses as This Week Comes to an End
Another week has almost ended, while all the focus remains on Greece as markets still attempt to weigh the alternatives for Greece and whether the nation might exit the one-currency bloc or not, where uncertainty dominates investors and markets, the thing the weighed sharply on the common currency, which almost shed 2% this week.
The sentiment remains negative, while fears and concerns are mounting, where a poll in Greece showed yesterday that the anti-austerity Syriza Party is leading now as more and more Greeks are joining the anti-austerity campaign.
The Public Issue/Saki TV poll showed that the leftist party gained 30% of the vote, beating that conservative New Democracy Party with 4 points, noting that this party mainly backs the second bailout deal. In the third place the Socialist ...
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Stocks eke out gains, euro falls
(Reuters) - Global stocks eked out gains on Thursday while the euro fell as data suggested Europe's debt woes were spreading and worsening a global economic slowdown, adding to investor concerns about Greece's possible exit from the euro zone.
In a volatile session, investors looking for bargains initially bought equities, oil and gold, which have been beaten down this week by worries a Greece exit would deepen the euro zone debt crisis.
The appetite for growth-oriented assets faded as fears about the euro zone's drag on the world economy returned. Then for a second straight day, a wave of buying emerged shortly before Wall Street's close.
"The market has pulled back far enough that people are trying to assess if we've priced the worst of what's known. But with the problems in Europe ...
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Global stocks, euro slip on weakening growth
(Reuters) - U.S. stocks and the euro edged lower on Thursday as data suggested Europe's debt woes were spreading and worsening a global economic slowdown.
In a volatile session, investors looking for bargains earlier bought equities, oil and gold which have been battered this week by worries Greece would leave the euro zone. But the buying of growth-oriented assets faded as worries about the euro zone's drag on the world economy returned.
Stocks and other riskier assets turned negative as disappointing data from Europe, China and the United States compounded concerns about the economic contraction moving across Europe.
Amid speculation of more coordinated efforts from major central banks to stem further deterioration of the euro zone debt crisis, bond yields of Spanish, Italian and ...
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U.S. New Orders for Durable Goods Rose 0.2% in April
U.S. New Orders for Durable Goods Rose 0.2% in April; Initial Claims Inched Downward in the Latest Week
- New orders for durable goods inched up 0.2% in April 2012 following a revised 3.7% decline (previously reported as -3.9%) in March. The gain in April matched market expectations.
- Transportation orders unexpectedly rose 2.1% as rising motor vehicle orders offset falling orders for defence aircraft. Excluding the transportation component, orders fell 0.6% following a 0.8% decline (previously was -1.3%) in March and well below market expectations for a 0.8% gain.
- Orders of non-defence capital equipment excluding aircraft, a commonly used proxy for future business investment, fell 1.9% following a revised 2.2% decline (previously was -3.9%) in March. The corresponding ...
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Oil climbs above $106 as Iran talks stall
(Reuters) - Brent crude oil rose above $106 a barrel on Thursday as reports of a hiccup in talks with Iran over its nuclear program balanced weak economic data from China and Europe.
Iran accused world powers on Thursday of creating "a difficult atmosphere" that hindered negotiations on its atomic energy program, signaling a snag in diplomacy to defuse fears of an Iranian attempt to develop nuclear bombs.
Brent futures rose 90 cents to trade at $106.46 by 1336 GMT after earlier touching a high of $106.90 before weak Chinese and European economic data sparked a bout of selling.
U.S. crude for July rose $1.44 to a high of $91.34 after settling at $89.90 a barrel on Wednesday, its lowest close for front-month U.S. crude since October 21.
Investors are worried that failure to agree a deal ...
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UK shares edge up cautiously from lows
(Reuters) - Britain's top shares rose on Thursday, clawing back some of the previous session's steep losses, though trade remained cautious after a European summit failed to produce concrete proposals for tackling the region's debt crisis.
Markets rallied earlier in the week on hopes that new proposals would be made at the informal summit, including ways of sparking economic growth and boosting investor confidence.
Thursday's economic data made for grim reading, with Britain falling deeper into recession than first thought in the first quarter after a sharp drop in construction output.
In Germany, the manufacturing sector shrank and business sentiment plummeted in May, heightening concerns about the ability of Europe's largest economy to weather the region's crisis.
Market moves have ...
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Dukascopy Morning Forex Overview : 24/05/2012
Fundamental Analysis
EUR
Concern about Greece "is a big weight on the market and makes things uncertain"
- Emmanuel Soupre, a fund manager at Neuflize Private Assets
European stocks tumbled on Wednesday, after rising by the most in a month on Tuesday, on speculation Greece may exit the euro zone.
USD
"It’s very clear now that the housing market has turned a corner"
- Richard DeKaser, deputy chief economist at Parthenon Group LLC
Sales of new U.S. homes rose by more than expected in April, Commerce Department data showed on Wednesday. Purchases increased to an annual rate of 343,000, up by 3.3 per cent from a revised 332,000 in March.
GBP
" employment remains fragile and wage growth weak"
- Ross Walker, chief U.K. economist at Royal Bank of Scotland Group
U.K. retails sales declined by ...
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