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PoundTitle:
Risk-Aversion Sends the Euro and Sterling South
With the start of the second session this week, tension remains evident in the market as the Greek talks continues for the second day, where so far Greek political leaders are unable to form a government, following the failure of Antonis Samaras, the thing that raised fears regarding the Greek future and existence in the Monetary Union as well, sending high yielding currencies led by the euro and sterling pound south.
The sentiment continues to be negative in the market as Greeks are split over the bailout deal with the European Union and the existence in the euro-area, where major parties in Greece lost significant support as those parties signed the bailout deal with the European Union, which in result mean more austerity and cuts for the Greek nation.
Amid the current political ...
Title:
European Futures Fall On Greek Worries
European stock futures signal a lower start before the opening on Thursday continuing the losses seen yesterday before markets rebounded to close in green with slight gains. Concerns are back once again to the markets as the efforts made by the Greek leader of New Democracy Antonis Samaras failed to forge a new government.
The tension is evident in the market especially with the chance to form a government now likely to pass to the second biggest party Syriza, where that is a dread to markets as leader Alexis Tsipras vowed to cancel the bailout terns.
The euro moved lower over daily bases trimming yesterday’s looses, as it dropped from the highest level reached during the day at $1.3065 and it is currently trading at 1.3015 after opening at $1.3048. The EUR/USD reached the lowest level ...
Title:
Greek Elections Lead to Significant Euro Losses
The results of Greek parliamentary elections held over the weekend kept the euro low against virtually all of its main rivals throughout yesterday's trading session. Investor concerns about Greece's new government and how it will act toward tough austerity measures imposed on the country brought the euro down to a 3 ½ year low against the British pound and a three-month low against the US dollar. Turning to today, euro-zone news is once again forecasted to impact the markets. The German Industrial Production figure and a speech from the ECB President have the potential to create significant volatility.
Economic News
USD - USD Takes Slight Losses against Main Currency Rivals
After seeing significant gains when markets opened for the week, the US dollar staged a minor downward correction ...
Title:
American Stocks managed to close mixed
U.S. stocks finished today’s trading session mixed, as sentiments were mix today, following the new French presidential elections that bought a new president in France; François Hollande, who defeated Nicolas Sarkozy.
Where in Greece, voters turned to anti-bailout parties at the expense of pro-bailout ruling parties which suffered to find support to form a coalition government, igniting worries the debt-mired nation will not adopt measures to guarantee the country`s future in the euro area.
Indices performance came as follows:
The Dow Jones Industrial Average index shed 29.74 points or 0.23% to close at 13008.53 levels, the index reached the highest point at 13049.09 and the lowest point at 12970.00, By closing 17 shares inclined while 17 shares declined and one share remained unchanged. ...
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Euro drops broadly on anti-austerity votes
The euro dropped broadly on Monday after elections in Greece and France cast doubt on politicians' commitment to austerity plans aimed at tackling the euro zone debt crisis.
Renewed worries about the stability of the euro zone made the euro pierce the key psychological level of $1.30 on its way to hitting a three-month low against the dollar.
The euro also fell to its lowest in 3-1/2 years against the British pound and a 2-1/2 month trough versus the yen, but trade in the overnight session was quiet due to a UK holiday.
The biggest blow to the common currency was the Greek election, in which the two main parties that support the nation's international bailout failed to secure a parliamentary majority. This threw into question the future of the program and potentially the country's ...
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Aussie Sees Some Improvement
After an interesting weekend, the Aussie is seeing some improvement today as the Down Under currency is seen as a safer bet than European currencies right now. After the elections in France and Greece, many are wondering what’s next for the eurozone, and that is giving the Australian dollar a bit of a boost today.
Aussie is even higher against the US dollar — and there is some risk aversion in the markets as traders wonder what to do next. In Europe, Francois Hollande won the French election, beating out incumbent Nicolas Sarkozy. In Greece, an anti-austerity party did quite well, and it looks as though the new government may not stick to the austerity measures required by the recent bailout. Once again, rumors that Greece could exit the eurozone are circulating.
Interestingly, this is ...
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Anti-austerity votes press euro lower
The euro fell heavily across the board on Monday after Greek and French elections cast doubt on politicians' commitment to austerity plans aimed at tackling the euro zone debt crisis.
Traders said the euro, which hit a three-month low against the dollar, its lowest in 3-1/2 years against the British pound and a 2-1/2 month trough versus the yen, was likely to suffer further losses in coming days.
In the biggest blow to the common currency, the failure of Greece's two main parties supporting the country's international bailout to secure a parliamentary majority threw into question the future of the program and potentially the country's membership of the euro.
In France, Socialist Francois Hollande, who has pledged to balance the budget but more slowly than his opponent, ousted centre- ...
Title:
Euro tumbles as Greek vote threatens austerity
The euro fell heavily across the board on Monday after Greek and French elections cast doubt on politicians' commitment to austerity plans aimed at tackling the euro zone debt crisis.
Traders said losses, which saw the common currency hit a three-month low against the dollar, its lowest in 3-1/2 years against the British pound and a 2-1/2 month trough versus the yen, were likely to be extended in coming days.
In Greece the failure of the two main parties supporting the country's international bailout to secure a parliamentary majority threw into question the future of the program and potentially Greece's membership of the euro.
In France Socialist Francois Hollande, who has championed a longer time-frame for eliminating the deficit, ousted centre-right incumbent Nicolas Sarkozy in a ...
Title:
Dukascopy Morning Forex Overview : 07/05/2012
Fundamental Analysis
EUR
"The U.S. labor-market report will further erode investor confidence"
- Markus Allenspach, head of bond research at Julius Baer Group Ltd.
European stocks extended weekly losses, after a report showed U.S. companies added fewer jobs than expected in April. The Stoxx Europe 600 Index erased 1.76 per cent to 253.00. Germany’s DAX Index tumbled 1.99 per cent and France’s CAC 40 Index contracted 1.90 per cent. The U.K.’s FTSE 100 Index lost 1.93 per cent to 5,655.06.
USD
"We’re still very much on the recovery path, but we’ve got a huge amount of ground to make up in the labor market"
- Scott Brown, chief economist at Raymond James & Associates Inc.
The number of Americans, who have found a job in the private sector in April, tumbled to 115,000 from 154,000 the ...
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