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Risk Appetite WasTitle:
EURCHF Move Provides Temporary Excitement
Forex News and Events:
Risk appetite has recovery marginally in the Asian session as the lack of Europe-negative headlines allowed risk seekers to pick up bargains. EURUSD was able to rally off the 1.2519 lows trading up to 1.2579. One of the more tangible drivers of today’s renewed positive sentiment has been the optimistic tone out of the Iran nuclear talks. A spokesman for EU foreign policy chief Catherine Ashton, stated "there is a positive atmosphere.” Oil went bid in the European session as WTI traded swiftly to $91.31. Yesterday’s move of the day was in the EURCHF where speculation on exactly what happened is still dominating conversation. After a month of inactivity around the 1.2010 level (vols compressed to nothing), EURCHF jumped suddenly over 60 pips during the European ...
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European Market Update : 25/05/2012
Germany said to be working on growth plan for euro zone
Economic Data
(EU) ECB: €3.8B borrowed in overnight loan facility vs. €3.8B prior; €760.9B parked in deposit facility v €765.9B prior
(RU) Russia Narrow Money Supply w/e May 21st (RUB): 7.00T v 6.93T prior
(SG) Singapore Apr Industrial Production M/M: -3.5% v +06%e; Y/Y: -0.3% v +4.1% prior
(DE) Germany Jun GfK Consumer Confidence: 5.7 v 5.6e
(FR) France May Consumer Confidence: 90 v 88e
(ES) Spain Apr Producer Prices M/M: -0.8% v 0.0%e; Y/Y: 3.1% v 2.7%e
(AT) Austria Mar Industrial Production M/M: +1.6% v -1.4% prior; Y/Y: +0.8% v -0.9% prior
(CH) Swiss Q1 Non-Farm payrolls: 4.049M v 4.044M prior
(DE) Germany May CPI Saxony M/M: -0.2%% v +0.1% prior; Y/Y: 1.9% v 2.0% prior
(IT) Italy Mar Retail Sales M/M: -0.2% V -0.2%e; Y/ ...
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EU worries keep euro near 2-year lows, shares edge up
(Reuters) - The euro wallowed near two-year lows early on Friday while European shares edged up, as uncertainty over the fate of Greece coupled with this week's disappointing euro-zone and Chinese economic data curbed any appetite for riskier assets.
The euro was down 0.1 percent at $$1.2540, but has lost 1.78 percent this week after on Thursday touching its lowest level since July 2010, at $1.2515. The U.S. dollar index .DXY measured against key currencies benefited from safe-haven demand to touch a fresh 20-month peak of 82.411.
"Markets have priced in a very negative scenario for Greece as well as deteriorating growth prospects in the euro zone, but with them very much focused on the tail risk of Greece leaving the euro bloc, the euro remains highly vulnerable," said Masafumi Yamamoto, ...
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Euro Remains Under Pressure
The euro (EUR) dropped to a two year low falling to 1.2515 from 1.2619 against the US dollar as uncertainty in the market grows. The single currency is under pressure as investors are worried about a problematic banking sector in the eurozone and a messy Greek exit from the euro. Economic figures from Germany further weighed on sentiment after German manufacturing data was weaker than expected. Failure by EU leaders to take decisive steps to tackle the eurozone debt crisis has curbed risk appetite, while growth in the region appears to be deteriorating. Against the Swiss franc, the single currency spiked higher to 1.2075 on rumors that the Swiss National Bank will impose a tax on deposits.
The US dollar (USD) strengthened against a basket of currencies as heightened risk aversion in the ...
Title:
Asian Market Update : 25/05/2012
Monti thinks Greece will remain in the EU; China slowdown fears return to front and center
Economic Data
(JP) JAPAN APR NATIONAL CPI Y/Y: 0.4% V 0.4%E; NATIONAL CORE CPI Y/Y: 0.2% V 0.1%E; TOKYO MAY CPI Y/Y: -0.5% V -0.3%E; TOKYO CORE CPI Y/Y: -0.8% V -0.5%E (20-month low)
(KR) SOUTH KOREA MAY CONSUMER CONFIDENCE: 105 V 104 PRIOR (15-month high)
(SG) SINGAPORE APR INDUSTRIAL PRODUCTION M/M: -3.5% V +0.6%E; Y/Y: -0.3% V +4.1%E
(TH) THAILAND APR CUSTOMS TRADE BALANCE: -$2.9B V -$2.9BE
(PH) PHILIPPINES MAR TRADE BALANCE: -$1.05B V -$562M PRIOR; TOTAL IMPORTS: $5.4B V $4.99B PRIOR
Markets Snapshot (as of 05:00GMT)
Nikkei225 +0.1%
S&P/ASX -0.4%
Kospi +0.6%
Singapore Straits Times Index -0.3%
Shanghai Composite -0.4%
Hang Seng -0.3%
June S&P Futures -0.2% at 1,320
June gold -0.3% $ ...
Title:
Stocks eke out gains, euro falls
(Reuters) - Global stocks eked out gains on Thursday while the euro fell as data suggested Europe's debt woes were spreading and worsening a global economic slowdown, adding to investor concerns about Greece's possible exit from the euro zone.
In a volatile session, investors looking for bargains initially bought equities, oil and gold, which have been beaten down this week by worries a Greece exit would deepen the euro zone debt crisis.
The appetite for growth-oriented assets faded as fears about the euro zone's drag on the world economy returned. Then for a second straight day, a wave of buying emerged shortly before Wall Street's close.
"The market has pulled back far enough that people are trying to assess if we've priced the worst of what's known. But with the problems in Europe ...
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Global stocks, euro slip on weakening growth
(Reuters) - U.S. stocks and the euro edged lower on Thursday as data suggested Europe's debt woes were spreading and worsening a global economic slowdown.
In a volatile session, investors looking for bargains earlier bought equities, oil and gold which have been battered this week by worries Greece would leave the euro zone. But the buying of growth-oriented assets faded as worries about the euro zone's drag on the world economy returned.
Stocks and other riskier assets turned negative as disappointing data from Europe, China and the United States compounded concerns about the economic contraction moving across Europe.
Amid speculation of more coordinated efforts from major central banks to stem further deterioration of the euro zone debt crisis, bond yields of Spanish, Italian and ...
Title:
Better Data Boosts Risk Appetite, Sending US Dollar Lower
US dollar is moving lower right now, thanks to improved risk appetite. Most of that risk appetite is coming from enthusiasm over better data in the United States. Improvements to the US economy are helping high beta currencies, even after continued disappointment in Europe and China.
Good news in the United States is providing a boost to high beta currencies, and sending the US dollar lower, as risk appetite returns to the markets. Jobless claims in the United States fell to 370,000 last week, dropping by 2,000. Additionally, there was a rise in US durable good orders of 0.2% for April. This good news is providing some relief from all of the bad news coming out of Europe.
The sovereign debt crisis continues to dominate in the eurozone as European Union leaders look for a way for Greece ...
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Copper up from 4-1/2 month low, EU data weighs
(Reuters) - Copper firmed a little on Thursday after sinking to a 4-1/2 month low in the previous session but remained under pressure as downbeat data from the European Union raised worries that global economic weakness will hit demand for industrial metals.
Benchmark copper on the London Metal Exchange was trading at $7,589.50 a tonne by 0939 GMT, 0.8 percent up from a close at $7,531 on Wednesday.
The metal, used in power and construction, has dropped on risk aversion triggered by worries about Greece's possible exit from the euro zone.
Business surveys showed Germany's manufacturing sector has been shrinking at the fastest rate in three years in May and the euro zone's private sector has sunk further into the doldrums this month as new orders shrivel, forcing firms to run down ...
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