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Sector In Europe LooksTitle:
PPI Inflation Opens the U.S. Session, as Pessimism from China and Europe Spread Across Markets
Jitters continued to dominate markets ahead of the U.S. session, where worse than expected growth from China and ongoing concerns over the outlook of the European debt crisis continued to weigh down on confidence, while the focus will turn in the U.S. session on inflationary figures, where the producer price index will be released for the month of September, as expectations show that producer prices eased slightly.
The producer price index will be released for the month of September, where PPI is expected to rise by 0.2%, following the prior flat estimate, while compared with a year earlier, PPI is expected to ease slightly to 6.4% from 6.5% in the prior estimate.
Core PPI, which excludes prices of food and energy, is expected to rise in September by 0.1% in line with the prior rise in ...
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Euro falls as German finmin plays down debt talks
(Reuters) - The euro fell on Monday after the German Finance Minister said the upcoming European Union summit would not definitively solve the region's debt crisis, denting investor optimism over the talks which had earlier pushed the currency to one-month highs.
The euro was last down 0.7 percent against the dollar at $1.3781 after Germany's Wolfgang Schaeuble's comments, having risen to its highest since Sep. 15 at $1.3914 in earlier dealing on trading platform EBS.
"The optimism that's been pushing the euro higher definitely seems to be overdone," said Raghav Subbarao, currency strategist at Barclays Capital.
"Some of the move last week was due to extreme short positions which should now have been cleaned out to some extent and that leaves the euro vulnerable," he added.
Traders ...
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Euro turns lower on German finance minister comments
(Reuters) - The euro came off highs on Monday after German Finance Minister Wolfgang Schaeuble said a forthcoming European Union summit would not yield a definitive solution to the region's debt crisis.
The euro was last down 0.3 percent against the dollar at $1.3836 after Schaeuble's comments, which dented optimism after the weekend's G20 summit that EU leaders would decisively address the region's problems On October 23.
The single currency earlier hit a one-month high of $1.39148 on EBS trading platform but faced resistance ahead of $1.40. Analysts said a break above there was possible, with some investors wary of selling the currency in case of a positive outcome at the summit.
"The euro will probably go above $1.40 as we go through this week, but we could see a 'buy the rumor, sell ...
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Europe trades in green on prevailing optimism over a crisis resolution after G20 assurances
Markets have started a new week today with prevailing optimism over the ability of European leaders to contain the crisis after the G20 endorsed the efforts to help Greece and secure the financial sector. Equities are trading positively on the hopes and the euro sustained the gains extending last week’s rally.
The markets have waited for quite a long time and the time for speculation is running out as the October 23 is assured the deadline for Europe to present its comprehensive plan to contain the debt crisis which was also set by the G20 financial chiefs in pressing Europe further to act decisively to the threat to the global economy and financial stability.
Markets have set high hopes for leaders and now they are not in a place to disappoint. The plan is to secure a wide range of ...
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Euro rally takes a breather, more short-covering eyed
(Reuters) - The euro hovered near a one-month high on Monday after a G20 summit boosted hopes that the EU would decisively address the region's debt woes this week, with traders saying additional short-covering may allow the currency to eke out further gains.
The euro, down 0.2 percent at $1.3853 on light profit-taking, rallied 3.5 percent last week after the leaders of Germany and France pledged to unveil a new package for solving the two-year crisis when the EU summit convenes on October 23, including an agreement on how to recapitalize banks.
Hopes for the plan -- which also aims to make Greece's mountain of debt more manageable and to bolster the firepower of the euro zone's rescue fund -- helped to lift the euro off a nine-month low around $1.3145 hit on October 4 and set it ...
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YouTradeFX Daily Market Analysis : 14/10/2011
EUR/USD
The EUR/USD retreated on Thursday as the market started to lock on profits amid generally eased woes over the outlook for the euro area where investors returned to focus on the weak data and the fragile state of the global economy.
Investors remain upbeat on the prospect for a resolution to the debt crisis and see leaders walking in the right path, especially after EC President Jose Barroso presented a broad plan to contain the crisis including economic governance, bank recapitalization, utilization of the EFSF, and helping Greece contain its crisis.
The market though remain tensed as the plans to recapitalize banks is still not clear and with the end of the week on Friday the eyes will turn to the G20 finance chiefs meeting as they will surely discuss the development in Europe ...
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US Data Set to Dominate Friday's Market
With an unusually intense news day ahead, traders are anxiously awaiting the large string of reports out of the US which should clear up the picture somewhat in regards to inflation, retail sales, and consumer confidence. The Federal Budget Balance will also be published, though its impact is not expected to be as high as the retail sales reports. Traders should look towards another bullish day on the dollar should news disappoint.
Economic News
USD - USD Bullish as Retail Sales Expected to Disappoint
The US dollar (USD) was seen trading mildly bullish Thursday ahead of retail sales reports out of the United States where many are expecting disappointment many investors seem to be anticipating. A sudden wave of risk aversion seems to have helped the greenback surge this week and data so ...
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Analysis: Return of the pink slip? Risk of layoffs rising
(Reuters) - From Capitol Hill and Wall Street to small towns across the United States, discussions of the economy have focused on one key question for the past two years: When will corporate America start hiring again?
That may be the wrong question. With Europe's debt crisis rattling the world financial system and demand fading, the question on many executives' and economists' minds is whether the nation is on the brink of another large round of layoffs.
It does not help that the uncertainty that has sent the Standard & Poor's 500 index down more than 10 percent since mid-July is lingering into October when big companies start planning out their 2012 budgets. At the very least, executives said it looks unlikely that companies will start the significant rounds of hiring that would be ...
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Global Trade Balance Data on Tap
Global reports on the trade activity and budgeting will be released today from several major economies. News of this kind tends to have a delayed effect, but volume should be heightened in today's later trading sessions. On tap for these reports is the trade balance figure from China, Great Britain, Canada, and the United States, in that order.
Economic News
CAD - Canadian Dollar Falls ahead of Trade Balance Data
The Canadian dollar (CAD) was seen moving lightly bearish late Wednesday as investors fled the higher yielding assets from speculation on a market downturn following recent releases on manufacturing. A weaker-than-forecast uptick in US private sector employment last week added to risk sensitivity for many investors, leading some to await today's news before entering more ...
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