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Better Data Drives Risk On, Fed QE3 Off
The Week Ahead
Highlights
Better data drives risk on, Fed QE3 off
Still waiting on a Greek debt deal
Central banks' decisions on tap
Better data drives risk on, Fed QE3 off
The past week ended with a string of better-than-expected data releases from key major economies, suggesting the global recovery may avoid a more worrisome downturn. Mostly better than expected PMI's from Europe, UK, China and the US were supplemented on Friday by a much stronger US employment report than was ...
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Jobless rate at 3-year low as payrolls surge
(Reuters) - The United States created jobs at the fastest pace in nine months in January and the unemployment rate unexpectedly dropped to a near three-year low, giving a boost to President Barack Obama.
Nonfarm payrolls jumped 243,000, the Labor Department said on Friday, as factory jobs grew by the most in a year. The jobless rate fell to 8.3 percent - the lowest since February 2009 - from 8.5 percent in December.
The gain in employment was the largest since April and it far outstripped the ...
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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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Oil up sharply on U.S. jobs surge, Iran
Brent crude prices rose to a near three-month peak on Friday in heavy volume trading after a report showed the U.S. economy in January created jobs at the fastest pace in nine months, fueling hopes of stronger demand in the top petroleum-consuming nation.
Both Brent and U.S. crude extended gains late as the euro recovered against the dollar and as oil investors covered short positions ahead of the weekend, eyeing simmering tensions between tensions with the West over Tehran's nuclear program.
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Buying Gold in Uncertain Times
Dow down slightly yesterday. Oil falling further below $100. And gold still going up.
What is most interesting is the movement in the price of gold. It seems to be heading up again — almost no matter what else is happening.
So, let’s look at what might be going on…
If investors sensed a recovery…they would expect banks to lend more freely…people to shop more freely…and prices to rise.
This would raise consumer prices; the price of gold should go up.
But if the market sees growth and ...
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Weekly Focus: The Clouds are Lifting a Bit
Market movers ahead
Following a week of improved economic indicators, we are headed for a light data calendar, with consumer confidence the most interesting data in the US in the coming week.
However, we expect a Greek PSI deal to be struck very soon, so we might know more about the losses that investors will suffer on their holdings of Greek debt as early as Monday.
The ECB will probably take some comfort from the slightly brighter economic outlook but leave rates as they are.
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U.S. jobs data gives European shares a boost
European shares made their highest weekly gain since late December on Friday, surging past a resistance level, after forecast-beating U.S. jobs data raised hopes about an economic recovery that could boost company earnings.
Cyclical auto and bank stocks, whose profits could improve with stronger economic growth, were the standout gainers, with the STOXX Europe 600 Automobiles & Parts index .SXAP up 2.7 percent and the STOXX Europe 600 Banks index .SX7P up 2.5 percent.
Investor sentiment ...
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Dukascopy Afternoon Forex Overview : 02/03/2012
Dukascopy Fundamental Analysis
EUR
Royal Dutch Shell announced it plans to invest more to boost production. The company reported it would invest 30 billion US Dollars into the new gas and oil projects in 2012 as compared to 24 billion US Dollars invested in 2011. The move came after the company announced the annual rise in net income by 50% to 28 billion US Dollars in 2011.
USD
US employment surged more than predicted in January while the unemployment level dropped to the lowest reading in ...
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Dollar gains versus euro and yen on strong U.S. jobs data
The dollar gained against the yen and euro on Friday, sending both to session lows after a report showed a larger-than-expected gain in U.S. jobs, which investors perceived as reducing the likelihood of further stimulus by the Federal Reserve anytime soon.
To some investors it even suggested the U.S. central bank may raise interest rates sooner than it has indicated in recent days. Higher rates will raise the attractiveness of dollar-denominated securities and demand for the dollars to buy them. ...
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