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OverviewTitle:
Dukascopy Morning Forex Overview : 18/04/2012
Fundamental Analysis
EUR
"Yes, the economy avoided falling off the cliff, but it is still flirting with recession"
- Carsten Brzeski, senior economist at ING Group
An index of German investor confidence unexpectedly rose to 23.4 in April from 22.3 in March, said the ZEW Centre for European Economic Research on Tuesday.
USD
"Housing continues to bump along the bottom”"
- Jacob Oubina, a senior U.S. economist at RBC Capital Markets LLC
U.S. housing starts fell in March but building permits rose to highest level since 2009, Commerce Department data showed on Tuesday. Groundbreakings declined to an annual rate of 0.65 million, while permits advanced to 0.75 million.
GBP
"There seems to be a little bit of payback from the previous couple of months’ brisker growth"
- Philip Rush, an ...
Title:
Dukascopy Afternoon Forex Overview : 17/04/2012
Fundamental Analysis
EUR
The 17-nation currency depreciated versus its US counterpart and Japanese currency ahead of Spanish debt sale on Tuesday. The Euro shed 0.2% versus US Dollar to USD 1.3110 and gave up also 0.2% against Yen to JPY 105.42. Currently EUR/USD is trading at USD 1.3110 and EUR/JPY is trading at JPY 105.41.
USD
China has raised its US debt holding for the second consecutive month as country's foreign exchange portion continued to advance. China purchased 12.7 billion US dollars of the US Treasuries in February thus boosting the debt holding to 1,178.9 billion US Dollars, according to the US Treasury Department. Chinese foreign exchange reserves gained 3.9% in Q1 on an annual basis.
GBP
FTSE 100 index rallied on Tuesday as Spanish successfully auctioned bonds and US ...
Title:
Dukascopy Morning Forex Overview : 17/04/2012
Fundamental Analysis
EUR
"It is looking more and more likely that Spain is going to have some form of a bailout"
- Lyn Graham-Taylor, Rabobank strategist
Spain's cost of borrowing on the international debt markets breached the level of 6 per cent for 10-year bonds on Monday, mounting pressure on the European Central Bank to conduct new round of bond purchases.
USD
"There is no sign that higher fuel prices have damaged consumer sentiment and spending"
- Jeremy Lawson, a senior U.S. economist at BNP Paribas
U.S. month on month retail sales rose by more than expected in March, said the Census Bureau on Monday. Total retail sales increased 0.8 per cent the previous month after increasing 1.0 per cent in February.
GBP
" is not a universal signal of a housing-market recovery"
- Miles ...
Title:
Dukascopy Afternnon Forex Overview : 16/04/2012
Fundamental Analysis
EUR
Euro Area officials are going to Washington this week in order to demand larger war chest from overseas partners to prevent debt crisis as Spanish government struggles with surging borrowing costs. US though insists Europe can tackle crisis by its own financial firewall while Euro Zone representatives claim they already have done enough and deserve global help.
USD
Temasek Holdings is preparing to buy a part of Goldman Sachs Group's stake of Industrial & Commercial Bank of China (ICBC). Goldman Sachs is going to sell 3.55 billion of ICBC shares valued at USD 2.5 billion or about 4% of total amount traded in Hong Kong. ICBC shares lost 0.8% in Hong Kong on the news. Temasek has been raising holdings in China Construction Bank and Bank of China.
GBP
UK managed ...
Title:
Dukascopy Morning Forex Overview : 16/04/2012
Fundamental Analysis
EUR
"Market stresses will eventually force the ECB to restart the bond program"
- Market stresses will eventually force the ECB to restart the bond program
The European Central Bank is expected to restart government bond purchases rather than proceed with another round of long term refinancing operation.
USD
"Disposable incomes of consumers are still being squeezed. That does make it difficult for consumption to accelerate from here"
- Jeremy Lawson, an economist at BNP Paribas in New York
U.S. consumer confidence deteriorated slightly in April. The Thomson Reuters/University of Michigan’s preliminary index of sentiment declined to 75.7 from 76.2 in March.
GBP
U.K. "has a wealthy, open, and diversified economy"
- S&P
Standard & Poor's reaffirmed the U.K.'s triple ...
Title:
Dukascopy Afternnon Forex Overview : 13/04/2012
Fundamental Analysis
EUR
Italy's borrowing costs increased during last bond sale, escalating worries about Italy's ability to repay its obligations. Three-year bonds faced a rise in the interest rate from 2.76% to 3.89%. Adding to concerns over the Euro Zone's economic state, Greek unemployment rate surged to 21.8% in January as compared to 14.8% in January 2011.
USD
US March CPI increased by 0.3% thus outpacing the 0.2% investor consensus forecast. Core CPI was in line with the expectations at 0.2% last month, Bureau of Labor Statistics reported today.
GBP
FTSE 100 index traded lower on Friday as lower than expected China's GDP growth weighed on investor sentiment. Additionally Spanish shares tumbled as country's bond yields climbed. Sage Group lost 2.2% after Jefferies cut the stock' ...
Title:
Dukascopy Morning Forex Overview : 13/04/2012
Fundamental Analysis
EUR
"The outlook for the industrial sector is bleak"
- Martin van Vliet, an economist at ING Group
Euro-area industrial production unexpectedly rose in February, even as the region’s economy continued to slide into a recession. Production increased 0.5 per cent from January, said the European Union’s statistics office in Luxembourg on Thursday.
USD
"Import prices were certainly a problem for businesses in the last three months, but we’ve seen those pressures ease"
- Jacob Oubina, a senior U.S. economist at RBC Capital Markets LLC
The number of Americans claiming for unemployment benefits rose to 380 thousand in the week ended April 7 from the week before, said the Department of Labor on Thursday.
GBP
"Concern persists that U.K. exports will be limited in the near ...
Title:
Dukascopy Afternnon Forex Overview : 12/04/2012
Fundamental Analysis
EUR
Germany's bond yield advanced after the country did not manage to meet maximum sales target. The average yield on the new benchmark 10-year bunds rose by six basis points, advancing to 1.71%. At the same time yields on two-year notes added four basis points approaching 0.13%.
USD
Natural gas futures fell below its key support level of 2.00 US Dollars per BTU, approaching 10-year low late on Wednesday as traders continued to sell off the fuel. Natural gas for May delivery traded at 1.98 US Dollars per BTU on the New York Mercantile Exchange, sinking by 2.39% in late US trade.
GBP
FTSE 100 index fluctuated between gains and losses on Thursday as government reported UK's trade deficit widened more than expected in February. Royal Dutch Shell tumbled 5% on news an ...
Title:
Dukascopy Morning Forex Overview : 12/04/2012
Fundamental Analysis
EUR
"The ECB should be preparing itself" for "the return of significant financial market tensions"
- Silvio Peruzzo, an economist at Royal Bank of Scotland Group Plc
Spanish "market conditions are not justified," said ECB Executive Board member Benoit Coeure on Wednesday. "Will the ECB intervene? We have an instrument, the securities markets program, which hasn’t been used recently but it still exists."
USD
"Import prices were certainly a problem for businesses in the last three months, but we’ve seen those pressures ease"
- Jacob Oubina, a senior U.S. economist at RBC Capital Markets LLC
U.S. import prices increased more than expected in March, 1.3 per cent, reflecting higher fuel costs, the Labor Department said Wednesday.
GBP
"The unusually warm weather in ...
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