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Parity Continues To MoveTitle:
Euro Loses Ground on Recession Fears
Euro is losing ground today as recession fears once again come into focus. Disappointing economic data in the eurozone, as well as a growing gap between Germany and the peripherals, are weighing on the euro. Additionally, it’s not helping risk appetite that the data coming out of the United States has turned out to be disappointing as well.
In the eurozone, the news continues to worsen. The unemployment rate in the 17-nation currency region is up to 10.9%. However, it is a matter of concern to many that there is a growing gap between the employment rate in Germany (6.8%), and the unemployment rate in eurozone peripheral countries, like Spain, Portugal, and Italy. Indeed, in Spain, the unemployment rate is at 24.1%. This huge disparity only highlights the imbalances, and underscores ...
Title:
Dukascopy Morning Forex Overview : 30/04/2012
Fundamental Analysis
EUR
"Once we hit the 6.5 per cent mark , the alarm bells will go off loudly in Brussels and more rhetoric will be coming from the European Central Bank"
- Adrian Miller, a global markets strategist at GMP
The rating agency Standard & Poor’s has downgraded Spain’s credit rating by two notches to BBB-plus with a negative outlook from A, citing expectations the government finances will deteriorate.
USD
"While the economy continued to grow in the first quarter, the expansion remains modest in pace and subpar from a historical perspective"
- Jim Baird, chief investment strategist at Plante Moran Financial Advisors
The U.S. economy grew at a slower pace than forecast in the first quarter as businesses cut on investment. Gross domestic product increased at a 2.2 per cent ...
Title:
Dukascopy Afternoon Forex Overview : 27/04/2012
Fundamental Analysis
EUR
Spain's credit rating was lowered by Standard & Poor's for a second time in 2012 on enduring worries the nation will have to apply additional fiscal backing to lenders as the economy shrinks. S&P cut its long term grade for Spain from A to BBB+ adding a negative outlook. Country's short term rating was lowered from A-1 to A-2, S&P agency reported on Thursday.
USD
Crude oil price declined from almost 4-week high in New York trade after S&P ratings agency cut Spain's sovereign credit rating, boosting concerns that further recession in Europe may halt demand for crude. Oil to be delivered in June lost USD 0.61, reaching USD 103.94 a barrel. June Brent oil gave up USD 0.49 and traded at USD 119.43 a barrel.
GBP
Today the Great Britain Pound extended its gains ...
Title:
Dukascopy Afternoon Forex Overview : 26/04/2012
Fundamental Analysis
EUR
Deutsche Bank, the German biggest lender posted a 33% drop in its first quarter profit, citing debt crisis as a negative force that curbed trading. Net income declined to EUR 1.38 billion (USD 1.82 billion) compared to EUR 2.06 billion in the same period last year. Economists questioned by Bloomberg expected the profit to decrease less to EUR 1.56 billion. Deutsche Bank shares have added 16% this year.
USD
Crude oil fluctuated close to a one-week record high as Fed claimed they expect the economic growth to advance, encouraging the speculation that fuel demand will increase. Moreover Iran announced it may stop its nuclear expansion. June crude traded at USD 104.07 a barrel after climbing USD 0.57 yesterday. Brent oil to be delivered in June traded at USD 119 a ...
Title:
Dukascopy Morning Forex Overview : 26/04/2012
Fundamental Analysis
EUR
"There’s a bit of risk back on after some positive company numbers helped stocks and improved the tone of the markets"
- Eric Wand, a fixed-income strategist at Lloyds Banking Group Plc
Demand for Spanish and Italian debt rose, pushing Spanish and Italian bonds higher, as investors turned to higher-yielding assets after companies from Apple to Swedbank reported better than forecast earnings.
USD
"The committee expects economic growth to remain moderate over coming quarters and then to pick up gradually"
- Federal Open Market Committee
U.S. durable goods orders tumbled below forecast in March, a sign the manufacturing sector may be losing momentum. Bookings for long lasting goods dropped 4.2 percent, said the Commerce Department on Wednesday.
GBP
" could be ...
Title:
Dukascopy Morning Forex Overview : 25/04/2012
Fundamental Analysis
EUR
"Equities are stronger than in the fall, as central banks have moved to support the market with liquidity and removing the structural risks to banks"
- Hans Peterson, the chief investment officer of SEB Private Bank
Industrial new orders in the euro zone declined by more than forecast in February, Eurostat data showed on Tuesday. Orders decreased by a seasonally adjusted 1.3 per cent, after declining 2.9 per cent in January.
USD
"Overall, consumers are more upbeat about the state of the economy, but they remain cautiously optimistic"
- Lynn Franco, director of the Conference Board Consumer Research Center
U.S. consumer confidence declined in April as consumers became slightly less optimistic on the outlook of the country’s economy, the Conference Board Inc. ...
Title:
Technical analysis of the AUD/USD parity on April 24th, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD has validated the breakout of 1.03, offering a sell signal.
The pair continues to move on the upper band of its medium term bearish channel (purple lines).
All indicators are bearish.
We continue to advise short positions as far as 1.0350 is resistance.
The breakout of 1.0250 will give a new sell signal and open the way towards 1.02.
In case of return above 1.0350, we will wait the breakout of 1.04 to advise long positions.
See the previous analysis of the AUD/USD parity of April 23th, 2012
AUD/USD Analysis
Title:
Technical analysis of the AUD/USD parity on April 23th, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD has faked a return above 1.0350 last friday and is currently falling below this level.
The pair continues to move above the upper band of its medium term bearish channel (purple lines).
All indicators are bearish.
We now advise to trade the pair according to the key level at 1.04:
- Only short positions below 1.04. The breakout of 1.03 will give a new sell signal.
- Only long positions above 1.04. The breakout of 1.0450 and 1.05 will both give a new buy signal.
See the previous analysis of the AUD/USD parity of April 20th, 2012
AUD/USD Analysis
Title:
Technical analysis of the AUD/USD parity on April 20th, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD has validated yesterday the breakout of 1.0350, offering a new sell signal.
The pair continues to move above the upper band of its medium term bearish channel (purple lines).
All indicators are bearish.
We now advise to trade the pair according to the key level at 1.04:
- Only short positions below 1.04. The breakout of 1.03 will give a new sell signal.
- Only long positions above 1.04. The breakout of 1.0450 and 1.05 will both give a new buy signal.
See the previous analysis of the AUD/USD parity of April 19th, 2012
AUD/USD Analysis
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