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Parts Of Europe Is BackTitle:
Dukascopy Afternoon Forex Overview : 03/05/2012
Fundamental Analysis
EUR
German DAX index climbed on Thursday lifted as ECB decided to keep its benchmark rate unchanged and Spain successfully auctioned bonds. Index was supported with positive news from US as data showed jobless claims fell more than expected last week. BMW AG rallied 2.72% after German car maker reported its EBIT jumped 19% in 1st quarter.
USD
Timothy Geithner, US Treasury Secretary, said that China has to alter its polices tied to exports and focus on stimulating domestic consumption. Such change is vital for sustaining China's economic expansion. Currently, China is exploring the ways for new economic reforms as the country recognized the risks of overreliance on exports, Timothy Geithner added.
GBP
Average house prices in the UK declined by 0.2% last month, ...
Title:
Dukascopy Morning Forex Overview : 03/05/2012
Fundamental Analysis
EUR
"The grim unemployment figures for March will likely encourage talk about a long overdue ‘growth pact’ for the euro zone"
- Martin van Vliet, an economist at ING Group
Euro area unemployment rose to the highest level since 1997 in March and manufacturing contracted in April, adding to signs the economy is still far from out of the woods.
USD
"Employment growth is slowing"
- David Sloan, an economist at 4Cast Inc.
The number of Americans, who have found a job in the private sector fell to 119,000 in April from a revised 201,000 in March, the ADP Employer Services said on Wednesday.
GBP
" points to clear, decent construction expansion in April"
- Howard Archer, chief UK economist at IHS Global Insight
U.K. construction sector expanded slower in April, compared ...
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Focus On ECB Rate Decision
The euro recorded losses against most of its major counterparts as eurozone nations’ Purchasing Managers Indices (PMIs) came out worst than expected and German unemployment surprisingly increased. The labor market of Germany is still strong, with the number of people without a job at near record-low levels. Nevertheless, this is not the case for the rest of Europe as the eurozone unemployment ascended to 10.9% from 10.8% previously, marking its 9th consecutive raise. Against the US dollar, the single currency plunged to 1.3147 from 1.3238. Later today at 11:45 GMT, the European Central Bank (ECB) will announce its lending rate and it is expected that it will be left unchanged. Market participants worldwide will tune in on the press conference that will follow, anticipating a more dovish ...
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American dollar trades as a safe haven
The American dollar continued its upside trend against the major counterparts as investor demand for an investment haven amid worries for the European debt crisis, supported the common currency to increase losses against the greenback.
On the other hand, the RBNZ governor noticed today that the government is to take more financial facilities that work to contain interest rates and support the recovery, this policy called as macro-prudential policy.
Moreover, the New Zealand dollar increased its losses against its counterparts, recorded the lowest level in more three months against US dollar after the jobless report that showed unemployment rates advanced to the highest level in about two years as people failed to get any chances for working.
NZD/USD pair dropped to its lowest level at 0. ...
Title:
Dukascopy Afternoon Forex Overview : 02/05/2012
Fundamental Analysis
EUR
German jobless rate unexpectedly climbed first time in last six months as debt turmoil curbed economic growth. The number of unemployed people increased by 19 000, reaching 2.87 million, compared to an expected drop by 10 000 people. The adjusted unemployment rate was 6.8%.
USD
Mitt Romney announced that Yuan's 23% appreciation versus U.S. Dollar in last five years is not enough and branded world's second largest economy as currency manipulator. Romney promised in his campaigns to put more pressure on China as he claimed Obama hasn't done enough to boost stronger Yuan. Economists questioned by Bloomberg expected Yuan to climb versus greenback to CHY 6.15 by the end of 2012.
GBP
FTSE 100 index traded lower on Wednesday as record high unemployment level and ...
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Unofficial Manufacturing PMI Data Supports The Increase In The Official PMI Figures For China
The positive jump in ISM manufacturing data from the US and China kept risk assets on the front foot, albeit only slightly. Overall, price action was fairly muted with investors still reeling from yesterday’s surprise 50 bps rate cut by the RBA.
Unofficial Chinese manufacturing PMI printed at 49.3 for April, slightly better than the flash figure of 49.1. Yet, this still far from the 53.3 reading given by the official figure, but we know the unofficial figure is more representative of more pessimistic parts of the economy than the official data, which is overweight the public sector. Thus, we take both figures with a grain of salt and analyse them as a pair instead of alone. And, the fact of the matter is both figures are now heading the same direction, which is higher, so we can assume ...
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Dukascopy Afternoon Forex Overview : 01/05/2012
Fundamental Analysis
EUR
Anti-austerity protestors are likely to hold massive demonstrations in May Day. Demonstrations in Athens that involve private and public sector strikes have already disrupted the public transport. However, the traditional violence is not expected as Greeks are likely to show their protest against austerity measures on Sunday when the general elections are due.
USD
Crude and Brent oil dropped as lifted US energy inventories outweighed supply concerns caused by export disruptions in Yemen, Sudan and North Sea.
GBP
Manufacturing sector in the UK performed worse than initially expected in April, reported research group Markit. UK's manufacturing PMI declined to 50.5 last month on a seasonally adjusted basis as compared to a March reading of 52.1. Experts ...
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Copper slightly higher, China data supports
(Reuters) - Copper moved slightly higher on Tuesday helped by brisk manufacturing data in top metal consumer China and in the United States but concerns about the euro zone crisis and lower expectations of U.S. monetary stimulus kept a lid on prices.
Trading was thin with many markets shut for the May Day holiday, including China and parts of Europe, limiting the market impact of data showing a sustained expansion in China's factory sector.
Three-month copper on the London Metal Exchange was at $8,445 by 1522 GMT, after hitting a session high of $8,454. It closed at $8,400 on Monday.
China's official purchasing managers' index (PMI) rose to a 13-month high of 53.3 in April, signaling the world's No. 2 economy may be recovering from a first-quarter trough.
China consumes about 40 ...
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Copper dips on economy concerns, China data supports
(Reuters) - Copper dipped on Tuesday as brisk manufacturing data in top metal consumer China and a softer dollar failed to offset concerns about the fragile U.S. economy and the euro zone crisis.
Trading was thin with most Asian markets shut for the May Day holiday, including China and parts of Europe, limiting the market impact of data showing a sustained expansion in China's factory sector.
Three-month copper on the London Metal Exchange was down 0.1 percent at $8,391 a tonne by 1058 GMT, after hitting a session high of $8,450. It closed at $8,400 on Monday.
China's official purchasing managers' index (PMI) rose to a 13-month high of 53.3 in April, signaling the world's No. 2 economy may be recovering from a first-quarter trough. (nL4E8G10UO)
"I'm not sure there was enough in it to ...
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