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Price Is Testing The ResistanceTitle:
Gold consolidates gain as Greece lifts euro
(Reuters) - Gold was steady on Wednesday, fairly close to recent 11 week highs and taking a cue from the euro's march to a two month peak as investors bet that Greece would finally secure a second bailout needed to avoid default.
Receding risk aversion - reflected in rising share prices - is seen as a dampening factor for gold's safe-haven credentials, with German government bonds feeling some pressure.
But wider uncertainty on the euro zone's economic outlook was more supportive for gold, ...
Title:
Gold on solid ground as Greece lifts euro
(Reuters) - Gold held steady on Wednesday, fairly close to recent 11 week highs and taking a cue from the euro's run to a two month peak as investors bet that Greece would finally secure a second bailout needed to avoid default.
Receding risk aversion - reflected in rising share prices - is seen as a dampening factor for gold's safe-haven credentials, with German government bonds feeling some pressure.
But wider uncertainty on the euro zone's economic outlook was more supportive for gold, with ...
Title:
EUR trading firm as markets are more optimistic about Greece
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
The euro is trading on a firm note as markets are somewhat more optimistic that several outstanding issues on Greece are close to resolution. Firstly, late into the session on Tuesday a Greek government spokesperson finally announced that political leaders would meet on Wednesday to respond to the bailout proposals by noon. It appears that a tentative deal has been secured with the troika, though some individual points on how the cuts are going ...
Title:
Greek government is finalizing agreement; Euro rises, Franc retreats on SNB
According to a Greek government official; the Greek government is preparing a text for an agreement that would be handled to political parties to discuss and agree upon today, this text is the result of the long-lasted talks with private lenders. After the long wait, markets are getting fresh news from Greece, the news was euro positive as the EUR/USD pair is trading higher currently around 1.3175 after its has been under pressure this morning printing a low at 1.3095 after opening the day at ...
Title:
Currencies Mixed After The Big NFP
After a quiet start for today’s session, where currencies were trading within a tight range in anticipation for the king of reports; the main risk-event for today in the form of the employment report; the NFP came to break the silence as it screamed 243,000 new jobs were surprisingly added to the economy, the numbers came way off market consensus of 150k. The unemployment rate slipped to 8.3% from 8.5 in December, while economist expected a steady rate at 8.5%. These positive numbers were ...
Title:
Euro fluctuates; GBP and NZD soar, CAD is set to underperform as economy contracts
The EUR/USD pair fluctuated below the key resistance at 1.3200 today, on mixed but slightly negative macroeconomic data from the euro zone, where the German retail sales slumped 1.4% in December which came way off expectations of 0.9% growth. French consumer spending contracted as well; printing a 0.7% decline in December. As for labor data; change in the number of unemployed people in Germany during December decreased by 34,000 which was an upside surprise, on the other hand the Italian monthly ...
Title:
Quest for the golden cross
(Reuters) - January has turned out strong for equities with just two trading days to go. If you're afraid to miss the ride, there's still time to jump in. You just might want to wear a neck brace.
The new year lured buyers into growth-related sectors, the ones that were more beaten down last year. The economy is getting better, but not dramatically. Earnings are beating expectations, but at a lower rate than in recent quarters. Nothing too bad is coming out of Europe's debt crisis - and nothing ...
Title:
USDJPY continued to march higher during the Asia session
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
USDJPY continued to march higher during the Asia session despite domestic Japanese exporters selling into the rally. The move got underway during the US session yesterday, likely in anticipation of a significantly less-dovish Fed. Data confirming that Japan‘s trade balance slipped into deficit territory for 2011 for the first time since 1980 also probably supported the pair at the margin. However, we note that the current account still remains in ...
Title:
Banks lead 4th day of European share rally
European shares advanced for a fourth straight session on Thursday as strong auctions of euro zone debt and encouraging results from top U.S. banks triggered a high-volume rally led by battered financial stocks.
Euro zone banks .SX7E, which had fallen 38 percent last year on fears over their holdings of sovereign debt, rallied 7.4 percent after healthy demand for French and Spanish bonds, a sign of confidence in regional governments' ability to refinance their debt.
Also supporting the sector ...
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