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Dukascopy Afternoon Forex Overview : 25/05/2012
Fundamental Analysis
EUR
Trading in the shares of Bankia has been suspended in Madrid. Market regulator announced that this was done due to circumstances which might influence normal trading. Bankia is said to be forced to ask EUR 15b government bailout. Fourth largest Spanish bank was formed in 2010 after uniting seven troubled regional banks and currently holds EUR 32b worth of troubled assets.
USD
Natural gas futures declined during late US trade on Thursday after IEA reported that US inventories increased by 101 billion cubic feet on an annual basis last week, being higher than five-year average change of 97 billion cubic feet. Natural gas futures for June delivery traded at 2.707 US Dollars per million Btu on the New York Mercantile Exchange, tumbling by 3.20%.
GBP
David Cameron ...
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U.S. Stocks Slip On Spain Debt Worries
U.S. Stocks plummeted mostly at the close on Friday, as concerns grew that Spain`s regional governments are having trouble with their finances, overshadowing a reprots that showed confidence of American consumers rallied to highest levels since 2007.
The Dow Jones Industrial Average index shed 74.92 points or 0.60 percent to close at 12454.83 levels, the index reached the highest point at 12533.12 and the lowest point at 12421.53, By closing 7 shares inclined while 22 shares declined and 1 share remained unchanged.
The Standard & Poor’s 500 Index lost 2.86 points or 0.22 percent to close at 1317.82 levels, the index reached the highest point at 1324.20 and the lowest point at 1314.23, By closing 246 shares inclined while 249 shares declined and 5 shares remained unchanged.
The NASDAQ ...
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Oil edges up on Iran, but posts fourth weekly loss
(Reuters) - Oil prices rose for a second day on Friday on the lack of progress in negotiations with Iran over its disputed nuclear program, but crude futures posted a fourth straight weekly loss as Europe's debt problems threatened economic growth and petroleum demand.
Euro-zone political turmoil and economic uncertainty pressured the euro against the dollar, and along with recent signs of slowing Chinese economic growth and rising U.S. crude oil inventories, helped limit gains of Brent and U.S. crude futures.
This week's negotiations on Iran's nuclear program yielded little progress, though the six major powers and Tehran agreed to meet again in June, keeping the threat of conflict and supply disruptions in play for investors.
News that Iran has enhanced its ability to enrich uranium ...
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Gann's pyramid table updated : 05/28/2012
Gann's pyramid table of the 05/28/2012
Gann's pyramid table of the 05/25/2011
More informations about Gann's pyramid table: Click Here
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Euro slides again vs. dollar on fears of spreading debt crisis
(Reuters) - The euro slumped to near two-year lows against the dollar on Friday, rattled by fears of a possible Greek exit from the euro zone and the risk other debt-plagued countries could also leave the bloc.
A plea from Spain's wealthiest autonomous region, Catalonia, for help from the central government to refinance its debt this year was the latest news to hit the euro, which was on track for its worst weekly showing in five months.
Catalonia's appeal reverberated across financial markets. Spanish and Italian bonds sold off, equities fell, and U.S. crude oil futures turned negative.
"The Catalonia news was a big deal because it implies that the Spanish government may have to take on more debt and it cannot afford to do so," said Richard Franulovich, senior currency strategist at ...
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Natgas drilling rig count falls; oil at record high
(Reuters) - The natural gas drilling rig count resumed its sharp decline this week as energy companies continued to slow activity in the face of low gas prices, data from oil services firm Baker Hughes showed on Friday.
The gas-directed rig count fell by six to 594, after rising last week for the first time in a month, according to the data.
The number of rigs is still down by more than a third from a peak of 936 rigs last October, after one of the warmest winters on record caused stockpiles to swell and pushed gas prices to 10-year lows.
Gas drilling has become largely uneconomical with prices at this level, forcing drillers to move rigs to more lucrative oil plays. The oil rig count rose by one to a new 25-year high of 1,383 this week, according to Baker Hughes.
Horizontal rigs, the ...
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May consumer sentiment highest in more than four years
(Reuters) - Consumer sentiment rose to its highest level in more than four years in May as Americans stayed optimistic about the job market, while higher income households expected to see bigger wage increases, a survey released on Friday showed.
The Thomson Reuters/University of Michigan's final reading on the overall index on consumer sentiment rose to 79.3 from 76.4 in April, topping forecasts for 77.8 and an initial May reading of the same.
It was the highest level since October 2007.
"Unfortunately, consumer confidence is still extremely vulnerable to a reversal, as occurred in the past two years," survey director Richard Curtin said in a statement.
"While their most optimistic expectation for job growth could go unfulfilled without much harm, if the recent slowdown in job growth ...
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Euro slumps vs. dollar on Greek, Spain worries
(Reuters) - The euro tumbled to nearly two-year lows against the dollar on Friday, rattled by fears of a possible Greek exit from the euro zone and the risk other debt-plagued countries could also leave the bloc.
A plea from Spain's wealthiest autonomous region, Catalonia, for help from the central government to refinance its debt this year was the latest news to hit the euro, which was on track for its worst weekly showing in five months.
Catalonia's appeal reverberated across financial markets. Spanish and Italian bonds sold off, equities fell, and U.S. crude futures turned negative.
"The Catalonia news was a big deal because it implies that the Spanish government may have to take on more debt and it cannot afford to do so," said Richard Franulovich, senior currency strategist at ...
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Euro falls to near two-year low as Greece, Spain weigh
(Reuters) - The euro tumbled to nearly two-year lows against the dollar on Friday, and remained on track for its worst weekly showing in five months, rattled by fears of a possible Greek exit from the euro zone and the risk other debt-plagued countries could also leave the regional bloc.
A plea from Spain's wealthiest autonomous region, Catalonia, for help from the central government to refinance its debt this year became the latest headline to hit the euro.
Catalonia's appeal affected almost all asset classes as Spanish and Italian bonds sold off, equities fell, and U.S. crude futures turned negative.
"The Catalonia news was a big deal because it implies that the Spanish government may have to take on more debt and it cannot afford to do so," said Richard Franulovich, senior currency ...
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