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Overview The Euro RoseTitle:
Dukascopy Morning Forex Overview : 15/02/2012
Fundamental Analysis
EUR
"With confidence returning, the fundamentally very sound German economy can return to growth quickly"
- Christian Schulz, an economist at Berenberg Bank
An index of German investor confidence rose to 5.4 in February from -21.6 in January, said the ZEW Centre for European Economic Research on Tuesday. ZEW sentiment is based on a survey conducted among 350 German investors and analysts, who are asked to rate the six-month economic outlook.
USD
"Retail sales are being driven by the improving confidence but also by decent income gains"
- Millan Mulraine, a senior U.S. strategist at TD Securities
U.S. retail sales grew less than expected January as vehicle purchases tumbled. Total retail sales rose 0.4 per cent the previous month from December, when sales stagnated, ...
Title:
Dukascopy Afternoon Forex Overview : 14/02/2012
Dukascopy Fundamental Analysis
EUR
European industrial production fell in December, weighted down by a drop in Germany, fuelling concerns the region might be entering in a new recession wave. The output in Euro Zone declined 1.1% in December compared to November. Analysts predicted a decline of 1.2%. On yearly basis production diminished 2%.
USD
A significant drop in automobile sales caused a slide in the amount of overall retail sales in January, Commerce Department reported today. Retail sales rose less (+0.4%) than expected (+0.8%). However, sales excluding automobiles increased by 0.7%, the greatest climb since March, 2011.
GBP
UK consumer prices posted a 0.5% monthly drop in January, said the UK National Statistics Office on Tuesday. The annual consumer price index slowed from 4.2% ...
Title:
Dukascopy Morning Forex Overview : 14/02/2012
Fundamental Analysis
EUR
" is a crucial step forward toward the adoption of the second program"
- Olli Rehn, EU Economic and Monetary Affairs Commissioner
Germany and the European Commission welcomed Greek approval of additional austerity measures required to secure a 130 billion euro bailout from international lenders.
USD
"It’s a continuation of the bull market and we’re encouraged by what we are seeing in Europe"
- Laszlo Birinyi, president of Birinyi Associates Inc.
U.S. stocks rose on Monday after Greek lawmakers turned austerity plan into law to secure rescue funds from the International Monetary Fund and Europe.
GBP
"Growth is starting again because we’ve got tentative signs of optimism"
- John Cridland, CBI Director-General
The Confederation of British Industry said the nation ...
Title:
Dukascopy Afternoon Forex Overview : 13/02/2012
Dukascopy Fundamental Analysis
EUR
Germany and the European Commission welcomed Greek approval of the austerity steps demanded for a financial lifeline, suggesting euro finance chiefs will pull Greece back from the brink when they meet in two days.
USD
US customer confidence fell more than predicted in early February as improving employment data did not manage to offset worries about steady wages.
GBP
After a sharp decline on Friday, British FTSE 100 index rebounded on Monday, climbing 1%, helped by financial and resource shares as investors digested news about parliamentary approval of Greece austerity plan.
CHF
Swiss producer and import prices fell in January as appreciating Switzerland's currency and weaker demand from Euro Zone drove costs down, said Swiss Federal Statistics ...
Title:
Dukascopy Morning Forex Overview : 13/02/2012
Fundamental Analysis
EUR
"The Greek offer is not sufficient and they have to go away to come up with a revised plan"
- Bertrand Benoit, a spokesman for the German Finance Ministry
Leaders of Greece’s governing coalition rejected German demands for additional austerity measures hours after German Finance Minister Wolfgang Schaeuble told legislators in Berlin that the nation was missing deficit targets.
USD
"We will see a widening trade deficit this year as imports grow faster than exports"
- Jay Bryson, a senior global economist at Wells Fargo Securities LLC
U.S. trade deficit widened to a six-month high of $48.8 billion in December, up by $1.7 billion compared to November, the Bureau of Economic Analysis announced on Friday.
GBP
" is going to continue to head downwards at a rapid ...
Title:
Dukascopy Afternoon Forex Overview : 10/02/2012
Fundamental Analysis
EUR
Europe's finance ministers suspended a bailout funding for Greece and left officials in Athens either to ratify lately issued debt cut plan or to leave Euro Zone. Euro area countries will not deliver EUR 130 billion rescue funding until Greece will not implement its austerity plan, said Jean-Claude Juncker, Luxembourg's PM.
USD
US Consumer sentiment (Michigan preliminary index) dropped more-than-expected today to 72.5 points. The consensus forecast stood at 74.8; investors’ sentiment was on the downside today amid continuous Greek turmoil.
GBP
British house prices fell to 6-months record high in January on concern about country's economy amid European debt woe. The average value of home in Whales and England dropped 0.2% compared to December, reaching GBP 218. ...
Title:
Dukascopy Morning Forex Overview : 10/02/2012
Fundamental Analysis
EUR
"Europe may soon have defused the Greek issue for a while"
- Holger Schmieding, chief economist at Berenberg Bank
Greece leaders Thursday agreed a deal on reforms and austerity measures in return for a 130 billion euro bailout from international lenders which will help the country to avoid a messy default.
USD
"Initial claims have been consistently falling since September and have reached levels that should be consistent with solid payroll gains"
- Stephen Stanley, chief economist of Pierpont Securities
The number of Americans claiming for unemployment insurance payments fell to 358 thousand last week from 373 thousand in the week ended January 31, said the Department of Labor on Thursday.
GBP
" give hope that the first-quarter outturn will be better than ...
Title:
Dukascopy Afternoon Forex Overview : 09/02/2012
Fundamental Analysis
EUR
ECB president Mario Draghi has been informed that the Greek austerity deal has been reached; meanwhile an official Greek government announcement is expected soon. The news have had a positive impact on European investors' sentiment.
USD
Treasuries climbed higher on Wednesday as investors monitored developments in Greece. Borrowing costs on 10-year bills gave up 1 basis point, reaching 1.97% while those on 5-year bonds traded flat at 0.82%. Yields on 30-year notes dropped 1 basis point, attaining 3.14%, the highest since October 2011.
GBP
The Bank of England agreed on further easing measures and ijections of GBP 50B into the british economy. Additionally, BoE decided to maintain interest rates at the current level of 0.5%, where they have stood since 2009.
CHF
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Title:
Dukascopy Morning Forex Overview : 09/02/2012
Fundamental Analysis
EUR/USD
"The market still appears to be very short euros as a speculative position, so that’s one of the reasons why it’s not going down"
- Commonwealth Bank of Australia (based on Bloomberg)
Most of the indicators suggest continuation of the bullish trend until EUR/USD reaches 1.3436 with potential of climbing as high as 1.3627. However, we cannot rule out a dip down to an initial support at 1.3108, since the pair is currently struggling at a 1.3250/80 resistance zone.
EUR/JPY
"We expect no change in the policy rate and no announcement of further easing measures from the ECB"
- Brown Brothers Harriman (based on CNBC)
As long as EUR/JPY remains above a key support located at 100.09 (20 day ma), the outlook will be bullish. At the moment the pair is struggling at a ...
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