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TradedTitle:
Euro, stocks gain on Greece bailout hopes
(Reuters) - The euro hit an eight-week high against the dollar on Tuesday, helping lift stocks and commodities on signs a Greek bailout agreement was near, but the rally paused after a key meeting on Greece was postponed by a day.
The euro rallied after Greece appeared to be close to terms on a 130-billion-euro bailout. A government official said Athens was drafting a list of painful reforms to clinch a new financial package, moving it a step closer to a deal that is needed to avoid a chaotic ...
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Oil rises on spread trade, Canadian outage
(Reuters) - Brent oil rose slightly on Tuesday and U.S. crude jumped more than 1.5 percent, bolstered by an unplanned outage at a Canadian oil sands plant and optimism about an agreement on Greece's debt problems.
An Alberta plant that processes Canadian oil sands was expected to be shut for two or three weeks, adding lift for U.S. crude and helping narrow its deficit to Brent.
Brent's premium to U.S. crude oil widened in early trade to more than $20 per barrel, its highest since October, ...
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Aussie Jumps to Six-Month Record as Stevens Surprises Traders
The Australian dollar climbed today, erasing yesterday’s losses versus the US dollar and the Japanese yen and reaching the highest level in six months against the greenback, after the Reserve Bank of Australia surprised Forex traders by keeping its interest rates unchanged.
The Australian currency was falling yesterday as a report showed that retail sales fell 0.1 percent (on a seasonally adjusted basis) in December from November. Another reason for the drop was a deteriorating sentiment about ...
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Weak yen pushes euro, dollar to more than one-week highs
(Reuters) - The yen slid on Tuesday, pushing the dollar and euro to their highest in more than a week as investors sold the safe-haven Japanese currency due to growing optimism about a Greek rescue deal.
The yen earlier was undermined by comments from Japanese Finance Minister Jun Azumi who said Japan followed up its record yen-selling intervention last year with covert operations and that it is ready to step in again to counter speculative moves.
The dollar hit session highs at 76.900 yen, ...
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Debt prices hit session lows before three-year sale
(Reuters) - U.S. government debt prices touched session lows in early trading on Tuesday in advance of a $32 billion auction of three-year supply, which is part of this week's $72 billion quarterly refunding.
Three-year notes last traded down 1/32 in price with a yield of 0.3223 percent, while benchmark 10-year debt last traded down 11/32 for a yield of 1.94 percent, up nearly 4 basis points from late on Monday.
The Treasury Department will conduct the three-year auction at 1 p.m.
(Reporting ...
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Euro shows decline amid Greek talks concerns
The euro showed some decline against majors on concerns Greek political leaders may not reach consensus regarding the further spending cuts needed to receive a second bailout worth 130 billion euros announced in October, thus tumbling into default as early as March as the government has to repay 14.5 billion euros of debt maturing.
Yesterday, Papademos and political leaders of three parties agreed to make further budget-cutting measures equal to 1.5% of GDP, yet they will continue talks today ...
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Dukascopy Morning Forex Overview : 07/02/2012
Fundamental Analysis
EUR
"There is at least still sufficient demand for goods ‘made in Germany’ to keep the industrial engine running in 2012"
- Carsten Brzeski, senior economist at ING Group
German factory orders increased more than expected in December as demand from overseas helped the euro zone’s largest economy to weather the debt crisis. Orders rose 1.7 per cent, after declining 4.9 per cent in November, said the Economy Ministry on Monday.
USD
"You wonder when people are going to look ...
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RBA surprisingly stays on hold; Aussie spikes
Morning Briefing : RBA surprisingly stays on hold; Aussie spikes
What's new:
Asia: Equity indices marginally negative in line with their US counterparts
Australia: RBA surprises expectations for a 25bp rate cut - remains on hold
FOREX: Aussie gathers support on RBA decision
Greece: Still unable to forge any deal
Forex rates in Asia and Indices:
EURUSD: 1.3137– 1.3089.
USDCHF: 0.9215 – 0.9184.
GBPUSD: 1.5832 - 1.5793.
EURJPY: 100.72 – 100.37.
USDJPY: 76.78 – 76.51.
DowJones: 12’845.13 -0.13%
...
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Pictet Daily forex Analysis - 02/07/2012
The Reserve Bank of Australia left interest rates unchanged at 4.25%.
German manufacturing orders rose 1.7% month-on-month in December.
Nicolas Sarkozy said the Greek situation should be settled once and for all. The Troika will not release the next instalment of bail-out funds if Greece does not take the required austerity measures.
The ECB bought EUR 124 million worth of bonds last week compared to EUR 63 million the week before.
USD/CHF
The USD/CHF has struggled to break out of its all ...
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