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OverviewTitle:
Dukascopy Morning Forex Overview : 09/03/2012
Fundamental Analysis
EUR
"Draghi may prepare the markets for the scenario that inflation won’t come down below 2 percent in 2012"
- Jens Sondergaard, chief European economist at Nomura International Plc
The European Central Bank kept rates on hold at 1.0 per cent on Thursday, pausing to assess potential inflation risks.
USD
"The downtrend in claims, even with this modest uptick this week, is being sustained"
- Eric Green, chief market economist at TD Securities Inc
The number of Americans claiming for unemployment benefits rose to 362 thousand in the week ended March 3 from the week before, said the Department of Labor on Thursday.
GBP
"A fourth year of interest rates at 0.5% looks highly probable"
- Howard Archer, an economist at IHS Global Insight
Bank of England kept rates at 0.5 ...
Title:
Dukascopy Afternnon Forex Overview : 08/03/2012
Fundamental Analysis
EUR
Greece has to agree with private bondholders on the debt swap deal until 20:00 GMT on Thursday otherwise the country will fail to fulfill its financial obligations and may leave the Euro Zone. Greece has to agree on the 53.5% reduction in the current debt with not less than 75% of the private investors. Moreover, creditors were asked to lower the interest rate to enable the country to extend repaying period. On Wednesday about 40% of the Greek debt holders opted for the deal, reported the Ministry of Finance.
USD
US markets recovered on Wednesday trade after data showed the number of payrolls climbed and investors anticipated news about possible new type of Fed's quantitative easing. S&P 500 index gained 0.69% or 9.27 points and finished at 1,352.63 with ...
Title:
Dukascopy Morning Forex Overview : 08/03/2012
Fundamental Analysis
EUR
Germany's factory orders unexpectedly slipped in January as overseas demand for machinery and similar investment goods fell. Factory orders lost 2.7% compared to a 1.6% gain in December, said Economy Ministry. Economists questioned by Bloomberg earlier predicted an 0.6% increase. On yearly basis orders have dropped 4.9%. Euro erased morning gains on report.
USD
Republican Mitt Romney, ex-governor of Massachusetts won the primary presidential election in Ohio. Romney gained 38% of votes, followed by former Senator of Pennsylvania Rick Santorum with 37%, Speaker of US house Newt Gingrich with 15% and US Representative Ron Paul with 9% support.
GBP
After a rapid drop of 1.9% in previous session, British FTSE 100 index retreated and climbed 0.5% on Wednesday as ...
Title:
Dukascopy Afternnon Forex Overview : 07/03/2012
Fundamental Analysis
EUR
Germany's factory orders unexpectedly slipped in January as overseas demand for machinery and similar investment goods fell. Factory orders lost 2.7% compared to a 1.6% gain in December, said Economy Ministry. Economists questioned by Bloomberg earlier predicted an 0.6% increase. On yearly basis orders have dropped 4.9%. Euro erased morning gains on report.
USD
Republican Mitt Romney, ex-governor of Massachusetts won the primary presidential election in Ohio. Romney gained 38% of votes, followed by former Senator of Pennsylvania Rick Santorum with 37%, Speaker of US house Newt Gingrich with 15% and US Representative Ron Paul with 9% support.
GBP
After a rapid drop of 1.9% in previous session, British FTSE 100 index retreated and climbed 0.5% on Wednesday as ...
Title:
Dukascopy Morning Forex Overview : 07/03/2012
Fundamental Analysis
EUR
"With the dramatic expansion of its balance sheet since last summer, the ECB has become the most active central bank in the world"
- Klaus Baader, chief euro-area economist at Societe Generale
The European Central Bank’s balance sheet rose to a record 3.02 trillion euros for the week ended March 2, after a second long term refinancing operation conducted by the Frankfurt-based ECB.
USD
"The market has more questions than answers right now"
- Alan Gayle, a senior strategist at RidgeWorth Capital Management
The Standard & Poor's 500 plummeted by 1.54%, or 20.97 points, to 1,343.36. The Dow Jones Industrial Average lost 1.57%, or 203.66 points, to 12,759.15. The Nasdaq Composite Index slid by 1.36%, or 40.16 points, to 2,910.32.
GBP
"It is hard to be optimistic ...
Title:
Dukascopy Afternnon Forex Overview : 06/03/2012
Fundamental Analysis
EUR
European economy declined in the 4th quarter of 2011 as investment fell most since 2009 amid dropping consumer spending and exports. GDP both in Euro Zone and EU 27 area fell 0.3% compared to 3rd quarter said EU statistics office on Tuesday. Exports contracted 0.4% compared to a 1.4% gain in the 3rd quarter. Investment faded 0.7% and household spending diminished 0.4%.
USD
Several US leading banks attempt to persuade Fed to restrict the amount of information it discloses to public when it reports the outcome of recent stress tests. Federal Reserve is preparing to disclose more details than it did in 2009. The Clearing House Association said in a letter to Fed that unveiling extra information may have a negative effect on financial institutions involved in ...
Title:
Dukascopy Morning Forex Overview : 06/03/2012
Fundamental Analysis
EUR
"At this stage, our best estimate is that the region's GDP will have contracted by 0.1 percent in the first three months of the year"
- Chris Williamson, chief economist at survey compiler Markit
The euro zone retail sector expanded in January, compared to the previous month. Retail sales rose 0.3 per cent, after declining 0.5 per cent in December, announced the European statistical agency (Eurostat) on Monday.
USD
"The momentum that we’ve been generating in the economy is starting to broaden"
- Robert Dye, chief economist at Comerica Inc.
U.S. service sector expanded in February at a fastest pace in a year. The purchasing managers' index (PMI) advanced to 57.3 from 56.8 in January, said the Institute for Supply Management on Monday. Reading above 50.0 ...
Title:
Dukascopy Afternnon Forex Overview : 05/03/2012
Fundamental Analysis
EUR
Moody's has downgraded Greek credit rating again from "Ca" to the lowest level of "C". The rating agency cited high risk of country's default even despite deal with its bondholders on almost 70% debt write-off. The deal will allow Greece not to return about 107 billion Euros to the private investors. Moody's stressed that planned reforms to avoid default are likely to face essential implementation risks.
USD
American International Group (AIG), which obtained USD 182.3 billion rescue package after the breakdown of Lehman Brothers, is preparing to sell USD 6 billion of AIA group stocks to repay debt to US government. Insurer is offering around 1.7 billion AIA equities at HKD 27.15 to HKD 27.50 per share. After the sale AIG will keep about 19% stake of AIA.
GBP
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Title:
Dukascopy Morning Forex Overview : 05/03/2012
Fundamental Analysis
EUR
"It helps prevent a repetition of the sovereign debt crisis"
- Herman Van Rompuy, President of the European Council
All but two of the European Union leaders Friday signed a treaty to adopt strict new rules on national deficits and debts. Only Britain and the Czech Republic did not sign the agreement.
USD
"There’s a lot of room to go in the stock market"
- John Carey, a Boston-based money manager at Pioneer Investments
The Standard & Poor's 500 lost 0.32%, or 4.46 points, to 1,369.63. The Dow Jones Industrial Average slid 0.02%, by 2.73 points, to 12,977.57. The Nasdaq Composite Index dipped by 0.43%, or 12.78 points, to 2,976.19.
GBP
"The improved performance of the construction sector adds to other positive data released on the UK economy"
- Sarah Bingham, ...
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