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Only Long PositionsTitle:
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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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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Technical analysis of the GBP/JPY pair on February 6th, 2012
Commentary of the GBP/JPY pair :
The pair GBP/JPY is currently testing the resistance at 121 and is moving above a bullish slant (purple line).
All indicators are bullish.
The resistance at 121 is a very strong zone of resistance on the medium term.
We continue to advise short positions as far as 121 is resistance.
The breakout of 120.50 (and so of the bullish slant) will give a new sell signal and open the way towards 120.
In case of return above 121, a buy signal will be given.
We will then ...
Title:
USD/JPY Hits 3-Month Low amid Poor US News
The USD/JPY hit a fresh 3-month low today, as worse than expected news out of the US continued to weigh down on the pair. Rumors have begun circulating that the Bank of Japan (BOJ) may soon intervene in the currency market to limit yen growth. Today, traders will want to once again monitor US economic indicators. Specifically, the weekly US Unemployment Claims figure and a testimony from the Fed Chairman are likely to create market volatility.
Economic News
USD - Dollar Continues to Tumble ...
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Top Japan bank plans for JGB sell-off, no near-term shift seen
(Reuters) - Japan's top banking group, Mitsubishi UFJ Financial (8306.T), has drawn up a contingency plan that flags 2016 as the time when the nation's current account may slide into deficit and trigger a government bond sell-off, a newspaper reported on Thursday.
Asahi newspaper said a plan prepared by a unit of the group -- Bank of Tokyo-Mitsubishi UFJ -- late last year estimated that 10-year bond yields could rise to around 3.5 percent in about four years' time from about 1 percent today.
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Title:
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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European shares rise on Greece optimism
(Reuters) - European shares rose on Wednesday, helped by a boost to bank stocks from hopes of an agreement in Greek debt swap talks and better-than-expected Chinese manufacturing data.
Earnings, which have so far only given mixed results, were another focus, with Infineon (IFXGn.DE) rising 5.5 percent, near the top of the leaderboard after the German chipmaker reported forecast-beating results.
Banks, many of which have exposure to euro zone sovereign debt, featured among the best performers, ...
Title:
Forex - Greece Rejects Greater EU Oversight
Forex News and Events:
With Greek negotiations ongoing but yet to reach a conclusion, media chatter over the weekend was dominated by reports that Germany wishes to have greater oversight of Greece’s budget – a proposal that Greece has readily dismissed. The suggestion was endorsed by German cabinet minister Philipp Roesler, and reflects the widespread scepticism both across the market and amongst policy makers that Greece could struggle to bring its debt down to sustainable levels. Even if ...
Title:
USD Bearish Ahead of Heavy Trading Week
The US dollar closed last week on a bearish note, as it took significant losses against most of its main currency rivals, including the euro and Japanese yen. The dollar began to decline during the middle of the week, following an announcement from the Fed saying that record low US interest rates would likely remain for the next several years. A softer than expected US Advanced GDP figure on Friday only caused the currency to drop further. This week, all eyes will be on the US Non-Farm ...
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