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Trade Long PositionsTitle:
Analysis: Obama's "green jobs" have been slow to sprout
(Reuters) - Three weeks ago, President Barack Obama stood in front of a sea of gleaming solar panels in Boulder City, Nevada, to celebrate his administration's efforts to promote "green energy."
Stretching row upon row into the desert, the Copper Mountain Solar Project not far from Las Vegas provided an impressive backdrop for the president.
Built on public land, the facility is the largest of its kind in the United States. Its 1 million solar panels provide enough energy to power 17,000 homes.
And it employs just 10 people.
Three years after Obama launched a push to build a job-creating "green" economy, the White House can say that more than 1 million drafty homes have been retrofitted to lower heating and cooling costs, while energy generation from renewable sources such as wind and ...
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EUR Stages Slight Recovery, US Data Set for Today
The euro saw mild upward movement during yesterday's trading session, as gains in stocks drove investors toward riskier assets. That being said, analysts are warning that debt worries in Spain and Portugal still have the potential to negatively impact the common currency in the coming days. Today, a batch of US fundamental data is forecasted to generate market volatility. Traders will want to pay attention to this week's Unemployment Claims as well as the Trade Balance and PPI figures, all scheduled for 12:30 GMT. Positive news may help the USD recoup some of its recent losses.
Economic News
USD - Dollar Extends Losses vs. Riskier Currencies
The US dollar extended losses against its riskier currency rivals during yesterday's session, including the euro and British pound. The EUR/USD was ...
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Oil rebounds on fuel stocks data, gold slips
(Reuters) - Oil markets rebounded from two days of losses on Wednesday as U.S. government data showed a steeper-than-expected drop in domestic fuel stocks, while gold dipped after a four-session rally and copper steadied near a three-month low.
Cotton climbed nearly 2 percent in a short-covering rally a day after the U.S. government forecast record-high global cotton stocks, and cocoa and coffee rose in reaction to a strong earthquake off Indonesia that triggered tsunami warnings in the world's No. 3 coffee producer.
Grains were modestly higher, helped by a weaker dollar and worries about cold weather in the U.S. wheat belt, and soybeans eased for a third straight day as investors cashed in long positions after prices hit a seven-month peak a day earlier.
The 19-commodity Thomson ...
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Prospects of more easing hurts yen
Forex Morning Briefing : Prospects of more easing hurts yen
What’s new:
Forex: Yen falls on prospects of more stimulus by BOJ; Aussie recovers from 3-month low
Global Markets: Global shares extend declines as Europe’s debt crisis seen worsening
Euro zone: Bond yields rise sharply; Spain’s 10yr yields soar to highest since December 12th
Euro zone: Italy scheduled to sell €11 bln bills today
United States: Fed Vice-Chairman Yellen to speak today
Rates in Asia and Indices:
EUR/USD 1.3067 - 1.3116 0.24 %
USD/CHF 0.9162 - 0.9195 0.22 %
GBP/USD 1.5852 - 1.591 0.28 %
USD/JPY 80.62 - 80.95 -0.30 %
EUR/CHF 1.2012 - 1.2018 -0.01 %
EUR/JPY 105.45 - 106.15 -0.54 %
Dow Jones 12710.56 - 12929.59 -1.65 %
Nasdaq 2688.21 - 2749.51 -1.63 %
S&P 500 1357.38 - ...
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JPY Receives a Boost amid Increase in Risk Aversion
The Japanese yen saw gains virtually across the board during yesterday's trading session, as risk aversion continued to dominate market sentiment. Investor fears regarding a euro-zone recession and poor US fundamentals drove the JPY to a one-month high vs. both the EUR and USD. Turning to today, a lack of significant news means that riskier currencies like the euro and Australian dollar could extend their bearish trends. Traders will want to watch out for any exaggerated price shifts due to low liquidity in the marketplace.
Economic News
USD - USD Takes Losses across the Board
The US dollar fell vs. its main currency rivals throughout the European session yesterday, as investors continued to worry about the possibility that the Fed will initiate a new round of quantitative easing in the ...
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Getting defensive before earnings season
(Reuters) - The market rally that few expected in the first place may finally be slowing down.
The benchmark Standard & Poor's 500 index jumped 11 percent in the first three months of 2012. Some of the worst performing investments of 2011 led the market's march higher. Financial companies gained nearly 20 percent over the first quarter. The Russell 2000 index of smaller companies rose 10 percent.
But few analysts are predicting that these gains will continue. That is in large part because the earnings season that begins Tuesday when Alcoa reports after the bell is expected to be lackluster.
Earnings of the companies in the S&P 500 index are expected to grow 3.2 percent in the first quarter of 2012 compared to 9.2 percent earnings growth in the final quarter of 2011, according to Thomson ...
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Risk Aversion Continues to Start Off Week
Safe haven currencies, in particular the Japanese yen, started off the week on a bullish note as investors continued to digest last week's disappointing US Non-Farm Payrolls figure. The US added just 120K jobs last month, significantly below the forecasted 207K. Today, traders will want to note the results of the Japanese Overnight Call Rate and the Bank of Japan (BOJ) Press Conference. Any indication that the BOJ will intervene in the markets to limit yen growth could result in the currency reversing some of its earlier gains.
Economic News
USD - Jobs Data Continues to Weigh Down USD
The dollar extended its bearish trend against the Japanese yen during yesterday's session, as a disappointing US jobs report released last week continues to weigh down on the greenback. The worse than ...
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Euro edges higher in light volume
The euro ground higher against the dollar and the yen on Monday, recovering from stumbles earlier in the session as the effects of disappointing U.S. jobs data last week faded, although thin holiday trading exacerbated moves.
Data on U.S. jobs creation came in sharply lower than expected on Friday, when stock markets were closed and bond markets closed early. While foreign exchange markets were open, the Good Friday holiday had made for particularly light volume.
"There's maybe a bit of a soft tone in the dollar on the jobs report," said Mark McCormick, a G-10 currency strategist with Brown Brothers Harriman. But, he cautioned, "price action has been pretty muted."
With many European markets still closed on Monday - including London, a major currency trading hub - analysts said the ...
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Dollar hits 1-month low vs. yen after weak jobs data
The dollar fell to a one-month low against the yen on Monday as last week's disappointing U.S. employment data bolstered views the Federal Reserve could ease monetary policy further to boost the economy.
The safe-haven but low-yielding yen attracted investors after the U.S. Labor Department's report on Friday showed that U.S. employers created far fewer jobs in March than financial markets had expected. The report raised doubts over the ability of the United States to help boost the global economy as the euro zone debt crisis continues and as fears persist about China's ability to avoid a hard economic landing.
The data suggested the Federal Reserve's policy-setting Federal Open Market Committee will keep interest rates low until at least 2014; low rates have been a key source of ...
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