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Respond To The Euro ZoneTitle:
Dukascopy Morning Forex Overview : 11/01/2012
Fundamental Analysis
EUR
"On the basis of some current economic and fiscal trends in France... we wouldn't expect to downgrade France this year"
- Ed Parker, head of EMEA sovereign ratings
Fitch Raings does not plan to downgrade France's top notch AAA credit raing in 2012, while raings of Spain and Italy as well as other countries under review could be cut by one or two notches this year, said Ed Parker, head of EMEA sovereign raings at Fitch on Tuesday.
USD
"Demand has been pretty good in the fourth quarter, though the momentum peaked early in the quarter"
- Aneta Markowska, a senior U.S. economist at Societe Generale
U.S. month-on-month wholesale inventories barely grew in November, suggesing the economy is recovering at a moderate pace.
GBP
"A better-than-hoped for December closed ...
Title:
Dukascopy Afternoon Forex Overview : 10/01/2012
Fundamental Analysis
EUR
An official from the Fitch rating agency claimed warned about a significant risk of Italy’s downgrade in 2012. This announcement was justified by an unclear vision of debt crisis resolution and the high amount of Italy’s debt. On the other hand, the Fitch executive did not forecast a France’s downgrade this year under normal economic conditions.
USD
Consumer borrowing in US rose in November reaching a 10-year record-high indicating households feel safe to borrow and financials are ready to lend. Consumer Credit surged by $20.4 bn, the biggest increase since November 2001, to $2.48 trillion, said Federal Reserve. Analysts questioned by Bloomberg predicted an expansion of only $7 bn.
GBP
Marks and Spencer announced modest increase in the UK sales during the ...
Title:
Dukascopy Morning Forex Overview : 10/01/2012
Fundamental Analysis
EUR
"Reaching a functional agreement already by the next meeting on Thursday is not out of the question"
- Elmar Brok, a German member of the European parliament
German chancellor Angela Merkel and French president Nicolas Sarkozy met on Monday to discuss how to promote Europe’s economic growth and to finalize a deal on deeper fiscal union.
USD
"I’m growing more optimistic that the economic activity in the U.S. is firming to the point that it’s durable"
- Mark Luschini, chief investment strategist at Montgomery Scott LLC
U.S. corporations, such as Cisco Systems Inc., ended 2011 with the slowest profit growth in two years amid global economic slowdown, estimated Bloomberg analysts.
GBP
"Demand for prime London property in 2011 outpaced supply and led to strong ...
Title:
Dukascopy Afternoon Forex Overview : 09/01/2012
Fundamental Analysis
EUR
Euro Zone's investor confidence for this month improved more than expected but remained in the negative territory for the sixth month in line. Sentix index added 2.9 points to minus 21.1 this month from minus 24 in December, reported Sentix market research group. Experts predicted the index to gain 0.5 points to minus 23.5.
USD
US employers managed to exceed expectations in creating new jobs adding more than 200,000 new jobs in December. The unemployment rate declined to 8.5%, hitting three-year low while the salaries and working hours jumped. Better than expected results follow increase in manufacturing activities and improved consumer confidence thus signaling on economic recovery of the US.
GBP
The U.K. government will host a series of conferences and ...
Title:
Dukascopy Afternoon Forex Overview : 06/01/2012
Dukascopy Fundamental Analysis
EUR
Germany's factory orders decreased more than expected in December. The orders declined by 4.8% on a seasonally adjusted basis from 5.2% increase in November, reported Bundesministerium für Wirtschaft und Technologie. Experts predicted the Germany's factory orders to slip by 1.6% in December.
USD
US employers managed to exceed expectations in creating new jobs adding more than 200,000 new jobs in December. The unemployment rate declined to 8.5%, hitting three-year low while the salaries and working hours jumped. Better than expected results follow increase in manufacturing activities and improved consumer confidence thus signaling on economic recovery of the US.
GBP
UK's services sector grew more than expected in December. The services PMI increased to ...
Title:
Dukascopy Afternoon Forex Overview : 05/01/2012
Dukascopy Fundamental Analysis
EUR
The EU announced it has reached a preliminary agreement on total ban of Iranian oil exports, the measure supported by the US and aimed at reducing Iran's oil revenues. The agreement has not been debated yet and the time of the ban coming in force has not been set. Iran claims its economy is vulnerable to the ban as the largest part of oil exports goes to the emerging markets in Asia.
USD
The number of US claims for unemployment benefits declined last week signalling positive outlook for country's labour market at the beginning of the year. Jobless claims dropped by 15 000 to 372 000 previous week, said US Labor Department today.
GBP
UK's services sector grew more than expected in December. The services PMI increased to 54.0 last month from 52.1 in the ...
Title:
Dukascopy Afternoon Forex Overview : 27/12/2011
Fundamental Analysis
EUR
European shares opened higher after Christmas holidays, though trading volumes are predicted to be relatively low. Stoxx 600 gained 0.2% at 242.41, whereas France's CAC 40 added 0.5% to 3,116.11. German benchmark DAX index surged 0.4% attaining 5,902.32. London markets stayed closed in prolonged holiday break.
USD
The prices of real estate decreased more than predicted, said S&P/Case-Shiller group on Tuesday. S&P/Case-Shiller index of real estate value in 20 cities fell 3.4% in October compared to corresponding period last year. Economists surveyed by Bloomberg forecast a 3.2% decline. Index currently is down 32.1% compared to its top figure in 2006.
GBP
UK retail sales slumped on the Boxing Day – the major December sales day in the high street shops of London. ...
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ECB wall of cash pushes liquidity to all time high
Liquidity levels in the euro money market soared to an all-time high on Friday, as the near half a trillion euros pumped into the system by the European Central Bank this week in its first ever three-year loans ballooned the amount banks were holding.
Banks borrowed a record 489 billion euros from the ECB earlier in the week in the first of two opportunities they will have to get the all new three-year loans from the ECB.
With the money now in banks' accounts, the amount of excess cash in the euro zone's financial system hit a record high of 483 billion euros, taking it soaring beyond the 350 it hit in mid 2010 after the ECB had pumped in three rounds of one-year funding.
This week's move by the ECB marks its most dramatic attempt of the crisis so far to bolster banks' finances. It is a ...
Title:
Dukascopy Morning Forex Overview : 23/12/2011
Fundamental Analysis
EUR
"The austerity package will be sufficient to bring deficit-to-GDP ratio down to zero"
- Chiara Corsa and Loredana Federico, economists at UniCredit SpA
Italy’s senate passed a vote of confidence 257 to 41 on Prime Minister Mario Monti’s emergency budget plan on Thursday as the government struggles to restore investor confidence in the euro zone’s third largest economy.
USD
"The employment situation continues to show strong signs of a recovery"
- Andrew Wilkinson, chief economic strategist at Miller Tabak & Co.
The number of Americans claiming for unemployment benefits dropped to 364 thousand in the week ended December 17, the lowest level since April 2008, said the Department of Labor on Thursday. Economists expected the reading to increase to 376 thousand.
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