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Dukascopy Morning Forex Overview : 22/05/2012
Fundamental Analysis
EUR
"Inevitably there is going to be an element of bargain hunting as investors look to top up their holdings on the basis of slightly lower prices"
- Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers
European stocks edged higher on Monday on China’s pledge to boost growth.
USD
"Equity prices have gotten oversold"
- Mark Luschini, chief investment strategist for Janney Montgomery Scott LLC
U.S. equity market edged higher on Monday on China stimulus hopes and after German and French officials said they would cooperate to keep Greece in the monetary union.
GBP
"Obviously, as the euro depreciates, the U.K. gets slightly more expensive"
- Miles Shipside, Rightmove commercial director
U.K. national house prices stagnated in March, announced the ...
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SunBirdFX Daily Market Analysis : 05/22/2012
www.sunbirdfx.com
Wall Street opened the trading week with the expected short-squeeze that launched NASDAQ 2.4%, mainly because of Apple. The short-positions holders decided to realize their investments and take profits, as the buyers took advantage of that for gaining profits by opening long positions. This momentum might continue in the next few days, and in this point, it is important to remember that the previous bearish session ended with a sharp bullish day, and this might be the signal for this possible turnover. However, it is too soon to know whether the stocks have stopped falling or not and we need to wait few more days.
AUD/USD
The recovery of the US stock markets weakened the USD against most of the currencies, which might start a correcting session against the USD. The ...
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Investors await EU summit
MORNING BRIEFING: Investors await EU summit
What’s new:
Asia: US equities swing into positive Asia in green territory as well
United States: CFNAI swings back into positive territory
Forex: GBP/USD trending higher ahead of CPI data
Rates in Asia and Indices:
EUR/USD 1.2783 1.282 -0.18 %
USD/CHF 0.9371 0.9397 -0.18 %
GBP/USD 1.5811 1.5837 -0.00 %
USD/JPY 79.27 79.5 -0.18 %
EUR/CHF 1.2009 1.20136 0.00 %
EUR/JPY 101.44 101.77 0 %
Dow Jones 12367.72 12508.11 1.09 %
Nasdaq 2478.36 2547.69 2.69 %
S&P 500 1295.73 1316.39 1.60 %
Nikkei 225 8690.47 8740.48 1.10 %
Shanghai 2354.867 2373.823 1.05 %
Gold spot 1586.21 1594.65 -0.33 %
...
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YouTradeFX Daily Market Analysis : 22/05/2012
Fundamental News
Today’s highlights:
· CPI (MoM) (GB, 09:30 GMT)
· BOE Inflation Letter (GB, Tentative)
· Existing Home Sales (U.S., 15 :00 GMT)
The U.S. labor market is set to strengthen this year, a survey published by the National Association for Business Economics said Monday. The survey of 54 economists said non-farm payroll increases will average 188,000 per month this year, up from the prior projection of 170,000. The jobless rate is expected to fall to 8 percent by the fourth quarter of 2012.
Japan’s foreign investments and assets grew to the second-highest level on record as companies used the high yen to make acquisitions abroad, a trend that may help them cope with stagnant demand at home. Investments abroad grew 3.3 percent to 582 trillion yen ($7. ...
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EUR Resumes Bearish Trend
After steadily gaining on the dollar and yen yesterday in overnight trading, the euro once again turned bearish during the European session. Renewed concerns regarding the political situation in Greece triggered the bearish correction. Still, the common currency was able to avoid dropping to the four-month low hit last week. Turning to today, traders will want to pay attention to a batch of British and US economic indicators. Both the British CPI and Public Sector Net Borrowing figures are forecasted to come in well below last month's figures. If true, the GBP could take losses during mid-day trading. Later in the day, analysts are predicting that the US Existing Home Sales figure will show improvements in the American Real Estate sector. If true, the dollar could move up as a result.
...
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Shares gain on hopes of action over EU crisis
(Reuters) - European shares joined a global rally in riskier assets on Tuesday and German bond prices fell as hopes grew that European leaders would agree on fresh action to tackle the debt crisis while promoting growth.
Sentiment also improved after reports emerged from China that Beijing will accelerate infrastructure investment to combat slowing growth.
The FTSE Eurofirst .FTEU3 index of top European shares opened up 0.5 percent at 979.55 points, extending a recovery from five-month lows hit on Monday. MSCI's global equity index .MIWD00000PUS rose 0.5 percent to 302.89 and back into positive territory for the year.
But while market participants were using the improved tone to hunt for bargains, sentiment remained fragile due to concerns about the impact of a possible exit by Greece ...
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Asia Session: Europe, Europe And More Europe
Nervousness underpinned price action today. Despite voices from throughout Europe attempting to reassure the market that Greece will remain in the euro, stock markets in Asia didn't significantly build on their opening gains and the euro slowly drifted lower throughout the session.
Why is the market behaving like this? In one word – caution. Investors are acutely aware that the talk from Europe may just be that, and when push comes to shove nothing may happen. And, in this case that is a very bad thing considering the fate of so many economies (both in Europe and elsewhere) hang in the balance.
Whilst there are many different views, most economists agree that letting Greece slipe away may prove to be more costly than keeping it in the Eurozone. Thus, the market wants reassurances that ...
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Asian Market Update : 22/05/2012
Short-covering momentum builds on China infrastructure spending hopes
Economic Data
(NZ) NEW ZEALAND Q2 RBNZ 2-YR INFLATION EXPECTATIONS: 2.4% V 2.5% PRIOR (11-quarter low and 4th consecutive quarter of decline)
(CN) CHINA APR CONFERENCE BOARD LEADING ECONOMIC INDEX M/M: 0.8% V 0.8% PRIOR
(TW) TAIWAN APR UNEMPLOYMENT RATE: 4.2% V 4.1%E
(KR) SOUTH KOREA Q1 EXTERNAL SHORT TERM DEBT: $136.3B V $136.1B PRIOR
Markets Snapshot (as of 04:15GMT)
Nikkei225 +1.0%
S&P/ASX +0.8%
Kospi +1.2%
Shanghai Composite +0.5%
Hang Seng +0.8%
June S&P Futures flat at 1,315
June gold flat at $1,589/oz
July Crude +0.1% at $92.96
Overview/Top Headlines
Asian equity markets have extended the overnight rally with another session of moderate gains, as hopes for progress in European talks took a back- ...
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Markets extend gains on value hunt, hopes for EU summit
(Reuters) - Markets extended gains in Asia on Tuesday with investors hunting for bargains in shares beaten down to 2012 lows late last week, as hopes grew that Europe could agree on fresh action to tackle its debt crisis while promoting growth.
A Chinese media report saying Beijing will accelerate infrastructure investments to combat slowing growth lifted Hong Kong and Chinese shares by 1.2 percent .HSI and 0.6 percent .SSEC respectively.
European shares looked likely to extend gains, with financial spreadbetters predicting that major European markets .FTSE .FCHI .GDAXI would open as much as 1.0 percent higher. U.S. stock futures were up 0.1 percent. .EU .L .N
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS climbed 1.4 percent, having recovered on Monday from a ...
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