Report Tachnical Analysis

Fundamental Analysis EUR On Tuesday Spanish central bank sold €4.94 bn ($6.51 bn) of 12 and 18-month notes, more than the Treasury had intended to attract. Central bank sold €3.44 bn 12 month notes at an average yield of 4.05%, compared to 5.02% in November. 18-month bonds created average borrowing cost at 4.2%, or 1 percentage point less than in November. USD US retail sales increased less than expected last month, according to official data. The indicator increased by 0.2% on a seasonally adjusted basis in November as compared to 0.6% previously expected, reported the U.S. Census Bureau. On the yearly basis, retail sales rose 6.7% last month after 7.5% increase in October. GBP Yearly UK CPI for November was in line with the expectations at the level of 4.8%, slightly lower than the ...

Fundamental Analysis EUR "As we announced in November, unless credit market conditions stabilize in the near future, our ratings of all EU sovereigns will need to be revisited" - Moody's Investors Service Moody’s Investors Service said it still plans to review EU member countries’ credit ratings in the first quarter 2012, hinting that last week’s agreement between 26 nations failed to deliver “decisive policy measures” to combat the debt crisis. USD "Most people come to the conclusion that downgrades on the region’s sovereigns are easily justifiable" - Nick Sargen, chief investment officer at Fort Washington Investment Advisors U.S. stocks closed lower on Monday after Moody’s Investors Service said it will still review ratings of EU member countries in the first months of 2012, despite ...

Fundamental Analysis EUR "The breakthrough to a stability union has been achieved" - Angela Merkel, German Chancellor All European Union countries except Britain agreed to sign an intergovernmental treaty Friday aimed at stricter budget discipline in the single currency area. USD "We’re seeing decent job growth and an improvement in household balance sheets" - Samuel Coffin, an economist at UBS Securities LLC U.S. consumer confidence rose to highest level in six months in December as consumers became more optimistic on the outlook of the country’s economy, according to the Thomson Reuters / University of Michigan research. GBP "The massive reduction in the UK's trade deficit in October will certainly bring some Christmas cheer to the City and government" - Kah Chye Tan, head of trade ...

Fundamental Analysis EUR The member of the ECB, Ewald Nowothy, reassured today that there will not be deflation in the Eurozone. The inflation rate in the euro-zone is decreasing slower than expected and despite weak economic growth there are no signs of ‘deflation scenario', he added. The HICP inflation is likely fall to 2% in 2012 and to 1.5% in 2013, according to the ECB forecast. USD US shares opened up on Friday morning on news that European officials reached consensus on tighter fiscal ties. Dow Jones Industrial Average added 0.92% or 110.69 points to 12,108.39, Nasdaq Composite ascended 0.8 or 20.83 points to 2,617.21 and S&P 500 Index gained 13.43 points reaching 1,248.04. GBP UK's exports reached a record of £26.5bn while the import declined to £34.1bn in October from £34.6bn ...

Fundamental Analysis EUR "The to ensure enhanced access for the banking sector to liquidity and facilitate the functioning of the euro area money market" - Mario Draghi, the ECB President The European Central Bank cut its benchmark rate by 0.25 percent to 1 percent and offered banks unlimited cash for three years but rejected rumors it will buy bonds in unlimited quantities if euro zone leaders agree on tighter fiscal union. USD "The labor market is improving" - Brian Jones, a senior U.S. economist at Societe Generale The number of Americans claiming for unemployment benefits tumbled to 381 thousand last week from 404 thousand the week before, said the Department of Labor on Thursday. Economists expected the reading to decline to 397 thousand. GBP "Developments in the eurozone ...

Fundamental Analysis USD On Wednesday S&P 500 gave up 0.2% or 2.54 points up at 1,261.01. On the upside were financials: Morgan Stanley gained 4.58%, Goldman Sachs Group added 3.92% and Bank of America Corp. ascended 1.90%. Nevertheless, U.S. benchmark index opened lower on Thursday. At the moment of writing S&P 500 is trading at 1,252.80 or 0.65% down as ECB president Mario Draghi rejected the idea that ECB could increase purchases of debt-troubled euro-nations. GBP The Bank of England announced it left the key interest rate unchanged at 0.50% for the 33rd month in line. The decision was expected by analysts. The asset purchasing programme's budget stayed at the same level of GBP275 billion. After announcement the pound advanced against the USD with GBP/USD pair currently trading at 1. ...

Fundamental Analysis EUR "We need to make a decision at our next European Council meeting" - French President Nicolas Sarkozy and German Chancellor Angela Merkel European Union officials are preparing for a key summit in Brussels, where they will be trying to clinch a deal on how to tackle the eurozone debt crisis. USD "Financial services faces an extremely challenging operating environment" - Vikram Pandit, Chief Executive Officer at Citigroup Inc. Citigroup Inc. Chief Executive Officer Vikram Pandit will cut approximately 4,500 jobs in forthcoming quarters as the bank seeks to reduce costs amid tougher market conditions and declining profits. GBP "This report increases the probability that we will see a negative GDP reading for the fourth quarter" - James Knightley, an economist ...

Fundamental Analysis EUR "Systemic stresses in the euro zone have risen in recent weeks" - Standard & Poor’s Standard & Poor’s placed ratings of 15 euro zone countries on watch with negative outlook on Monday, hinting that nations’ ratings depend on the outcome of a summit of European Union leaders on December 9. USD "With this trip, I think the Secretary will bring the message that time is running out" - Domenico Lombardi, a former International Monetary Fund board member U.S. Treasury Secretary Timothy Geithner arrived in Germany on Tuesday to urge euro zone officials to take decisive action to combat debt crisis in the region. This is one of the several trips Geithner has made in recent month as U.S. worries over the crisis in Europe grow. GBP "Overall, house prices have remained ...

Fundamental Analysis EUR After two day gains German DAX Index dropped as Standard & Poor's positioned Germany and 14 other Euro-region countries on monitoring for potential rating downgrades. DAX lost 0.7% reaching 6,062.66 led by RWE AG, German 2nd largest utility company which plunged 9.1% after it had to raise $2.8 bn in a stock sale to lower debt. Metro AG (MEO) fell 9.9% after retail firm cut its profit outlook. Deutsche Bank AG (DBK) and Commerzbank AG (CBK) both declined about 1%. USD On Tuesday's premarket trading Nasdaq, Dow Jones industrial average and S&P 500 futures float around breakeven as investors stay prudent after S&P European rating warning. US equity futures edge higher in advance of opening indicating direction for the morning trade. US stocks advanced on Monday ...