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Traded Near SessionTitle:
Japanese yen declines against majors at the end of the week
The Japanese yen fell against the dollar and major currencies today at the end of the week’s session after the CPI missed expectations and remained below the BOJ’s inflation target which raised worries especially from deflation bubble.
USD/JPY pair inclined to record a high of 79.82 after a low of 79.52, where the pair is currently trading at 79.70 after opening at 79.58.
The Euro is hovering around its lowest this week which amid continued concerns about sovereign debt crisis in Europe, especially after the failure of European leaders in talks to set out the decision.
EUR/USD pair recorded low of 1.2515 after reaching a high of 1.2552 after opening at 1.2532.
AUD/USD pair fell today to record a low of 0.9724 after a high of 0.7983 and started the session at 0.9761. The NZD/USD pair ...
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Spike of EUR/USD Leads to Speculation About SNB Intervention
The Swiss franc fell after a spike of the EUR/USD currency pair lead to speculations that the Swiss National Bank may take additional measures to erode the role of the franc as a safe haven.
Yesterday, for a short time, EUR/USD climbed to the highest level since March. The currency pair quickly pulled back, but that was enough to spur talks about another intervention by the SNB. There were rumors that the central bank plans to introduce a tax on deposit. Government and the bank’s officials refused to comment the speculations. Some economists say that the spike was likely caused just by some bank selling euros.
The SNB introduced the 1.20 cap on the franc against the euro in September last year. Since then, the Swiss currency was steadily appreciating, but stopped near the ceiling, ...
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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 ...
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Gold hovers about $1,560 an ounce; Greece fear persists
(Reuters) - Gold hovered around $1,560 an ounce on Thursday, and remained on shaky ground as worries about Greece and the euro zone still dominated market sentiment after a European Union summit yielded few practical steps to manage the debt crisis.
FUNDAMENTALS
* Spot gold edged down 0.1 percent to $1,559.30 an ounce by 0049 GMT, after dropping to $1,533.41 in the previous session.
* U.S. gold gained 0.7 percent to $1,559.30.
* European Union leaders, advised by senior officials to prepare contingency plans in case Greece decides to quit the single currency, urged the country to stay the course on austerity and complete the reforms demanded under its bailout program.
* Spain announced a 9-billion-euro ($11 billion) bailout for troubled lender Bankia on Wednesday, while also seeking ...
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CAD Reaches Four-Month Low vs. USD
The Canadian dollar slipped to the four-month low against its US counterpart and the three-month low versus the Japanese yen. The currency gained against the euro and the Australian dollar.
Interestingly enough, traders were scared by the meeting of European chief in Brussels tonight. Previously, the European Union summits were a source of optimism for market participants, but it looks like now people just get tired from empty promises and do not believe that anything good would come out from the meeting. Speculators are still worried that Greek elections on June 17 may result in an exit of the country from the eurozone.
Commodities taken a beating and fell on negative market sentiment. The Standard & Poor’s GSCI Index, which tracks 24 commodities, fell 1.9 percent. It is not a surprise ...
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Gold slumps on skepticism of EU meeting
(Reuters) - Gold eased on Wednesday extending sharp losses made in the previous session as investors were skeptical that an informal European Union meeting later in the day would yield steps to help solve the region's debt crisis.
Gold fell to as low as $1,555.03 an ounce earlier in the day, its lowest level in nearly a week, tracking a weaker euro as investors fretted about the possibility of a Greek exit and its implications for the global economy.
Investors will be watching the outcome from the EU summit, but confidence is on the wane since Germany and France are likely to confront each other on the idea of mutualized European debt.
"Can it solve the debt crisis? No," said Dick Poon, manager of precious metals at Heraeus in Hong Kong, "Everyone is worried about Greece withdrawing ...
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Oil falls as IAEA sees deal with Iran near
(Reuters) - Oil fell on Tuesday in choppy trading as indications a deal may be near on Iran's nuclear program eased worries about oil supply disruptions, countering supportive U.S. home resale data.
The U.N. International Atomic Energy Agency's (IAEA) director said he expected to sign a deal with Iran soon, to boost cooperation with the investigation into Tehran's nuclear activity, although differences remained.
U.S. crude fell more approaching the June contract's expiration at the end of Tuesday's session and ahead of weekly oil data expected to show crude stockpiles rose last week in the United States.
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Dukascopy Afternoon Forex Overview : 22/05/2012
Fundamental Analysis
EUR
Gold extended previous gains in Asian session on Tuesday as concerns over Greek exit from the single currency union eased. At G8 summit leaders of eighth largest economies stated that they would do everything possible to retain Greece in the Euro Zone. COMEX gold June contract traded at 1,592.35 US Dollars per troy ounce on the New York Mercantile Exchange, advancing by 0.23%.
USD
The US Senate has passed a bill aimed at tightening sanctions imposed on Iran to force the country to cease its nuclear program. The new sanctions imply investigation of role of Iran's Revolutionary Guard in oil exports as well as obliging the US companies to disclose any business activities with Iranian partners. The move came ahead of negotiations between Iran and six major ...
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