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Sector In Europe LooksTitle:
Shares, dollar near highs on bright outlook
(Reuters) - European shares traded near eight-month highs on Thursday as a brighter global economic outlook fuelled investor risk appetite, underpinning the dollar and reducing the appeal of safe-haven government debt.
Improving U.S. economic data and a signal from the Federal Reserve that it was not planning further monetary easing measures for now has sparked a big selloff in U.S. government debt, lifted the greenback against a basket of currencies and eased prices of commodities traded in dollars.
"Investor sentiment has completely changed. In the past, people were expecting (U.S.) growth of around 1.5 percent but now they say growth could top three percent," said Hiroshi Yokotani, director of fixed income at Alliance Bernstein.
World equities markets shared in the gains on Wednesday ...
Title:
USD and Risk Rally Continues
Forex News and Events:
Risk rally looks to be full on as commodity and equities continue to surge. Yesterday on the data front, German ZEW was mixed but generally viewed as positive. Economic Sentiment, from +5.4 to +22.3 (highest level since June 2010). These reads aid forecasts that suggests that while Eurozone had slipped back into a recession, Germany has held up surprisingly well. However, the German consumer is still hurting, opting to save verse spend, but they are still not strong enough to lift the rest of the EU out of its economic slump. The US retail sales saw further improvement and should continue to gain traction as the strong labor markets stimulate consumer spending. However some of the optimism should be tempered as 3.3% m/m surge in gasoline station sales, help the ...
Title:
Dukascopy Morning Forex Overview : 14/03/2012
Fundamental Analysis
EUR
The eurozone crisis appears to have "taken a pause for breath"
- Wolfgang Franz, ZEW president
An index of German investor confidence rose to 22.3 in March, the highest level in more than 20 months, from 5.4 in February, said the ZEW Centre for European Economic Research on Tuesday. ZEW sentiment is based on a survey conducted among 350 German investors and analysts, who are asked to assess the six-month economic outlook.
USD
"The economy is moving towards a self-sustaining recovery"
- Jeffrey Saut, chief investment strategist at Raymond James & Associates
U.S. month on month retail sales grew at a fastest pace in five months in February, suggesting the worlds largest economy is gaining steam even despite rising gasoline prices, said the Census Bureau on ...
Title:
Dukascopy Afternnon Forex Overview : 13/03/2012
Dukascopy Fundamental Analysis
EUR
European governments urged Spain to implement larger budged deficit cuts to prevent debt crisis from returning to the region. 10 days ago Spanish PM Rajoy unilaterally increased Spain's deficit target to 5.8% of GDP for year 2012 and claimed the country will aim to attain region's common target of maximum 3% in 2013. The announcement was not praised by region's officials who recently signed fiscal discipline treaty.
USD
US federal budget deficit widened more than expected in February, reported Department of the Treasury. The US federal budget balance declined to minus 231.7 billion US Dollars on a seasonally adjusted basis in February as compared to minus 27.4 billion US Dollars in January. Experts predicted the deficit to attain 229.3 billion US ...
Title:
Dukascopy Morning Forex Overview : 13/03/2012
Fundamental Analysis
EUR
"Now we have a sustainable debt for a sustainable country"
- Evangelos Venizelos, Greek Finance Minister
Greece’s successful bond swap deal should reassure markets about the nation’s future, said Greek Finance Minister Evangelos Venizelos on Monday.
USD
"The market in pause mode, looking for anything out of the FOMC which is going to give the market some sort of direction"
- Peter Kenny, managing director at Knight Capital
The Standard & Poor's 500 gained 0.02%, or 0.22 points, to 1,371.09. The Dow Jones Industrial Average grew 0.29%, or 37.69 points, to 12,959.71. The Nasdaq Composite Index, on the other hand, lost 0.16%, or 4.69 points, to 2,983.66.
GBP
"Sentiment has soured over the weekend"
- Jonathan Sudaria, a trader at Capital Spreads
The benchmark ...
Title:
Dukascopy Afternnon Forex Overview : 12/03/2012
Dukascopy Fundamental Analysis
EUR
Nicolas Sarkozy, France's President, said that the country may consider withdrawing for Schengen zone unless more efforts are put in stopping illegal immigration. Sarkozy speaking at President's election rally stressed that the progress has to be made during next 12 months otherwise France will exit Schengen zone. Illegal immigration is expected to be the core issue during elections in France.
USD
Crude oil futures eased down during the Asian session on Monday as traders started to cash out from the market after crude oil moved higher on the positive US labour data. Light, sweet crude oil futures for April delivery traded at 106.92 US Dollars per barrel on the New York Mercantile Exchange, tumbling.
GBP
According to Lloyds Bank Corporate Markets, ...
Title:
Greece averts immediate default, markets skeptical
(Reuters) - Greece averted the immediate threat of an uncontrolled default on Friday, winning strong acceptance from its private creditors for a bond swap deal which will eat into its mountainous public debt and clear the way for a new bailout.
With euro zone ministers set to approve the 130 billion euro ($172 billion) rescue, French President Nicolas Sarkozy declared the Greek problem had been settled - just as Germany said that any impression the crisis was over "would be a big mistake."
Markets sharply marked down the value of new Greek bonds to be issued to the creditors, reflecting the risk of paralysis after elections expected this spring and doubts about whether Athens can bring its debt to a more manageable level by 2020.
Sarkozy, who is trailing his socialist challenger for the ...
Title:
Dukascopy Morning Forex Overview : 08/03/2012
Fundamental Analysis
EUR
Germany's factory orders unexpectedly slipped in January as overseas demand for machinery and similar investment goods fell. Factory orders lost 2.7% compared to a 1.6% gain in December, said Economy Ministry. Economists questioned by Bloomberg earlier predicted an 0.6% increase. On yearly basis orders have dropped 4.9%. Euro erased morning gains on report.
USD
Republican Mitt Romney, ex-governor of Massachusetts won the primary presidential election in Ohio. Romney gained 38% of votes, followed by former Senator of Pennsylvania Rick Santorum with 37%, Speaker of US house Newt Gingrich with 15% and US Representative Ron Paul with 9% support.
GBP
After a rapid drop of 1.9% in previous session, British FTSE 100 index retreated and climbed 0.5% on Wednesday as ...
Title:
Brent above $124 on Greece hopes, U.S. jobs data
(Reuters) - Brent crude rose on Thursday, with prices staying above $124 a barrel on hopes that Greece would win enough creditor support to avoid a messy default and promising jobs data from top oil consumer, the United States.
Oil recovered from Tuesday's losses after major banks and pension funds showed their support for Greece's bond swap offer to private creditors, spurring optimism that the deal will pass and clear the way for a bailout package to avert an immediate default on its debt.
Front-month Brent climbed 14 cents to $124.26 a barrel by 0646 GMT, after settling $2.14 higher at $124.12 in the previous session. U.S. crude was up 14 cents at $106.30 a barrel, after settling $1.46 higher at $106.16.
"There are still a lot of uncertainties on Greece ahead of today's deadline and ...
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