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While The Retail TradeTitle:
Crude steady around $90.50 as uncertainties persist
Crude oil is seen steady around the $90.50 with some downside momentum, as global uncertainties persist. On one hand the global economic growth is seen slowing, while on the other hand talks with Iran reached an impasse.
One day after China reported lackluster data from the manufacturing sector, China’s largest banks may miss their lending targets for the first time in seven years, adding to signs that China, the world’s second oil consumer, is slowing.
Demand on oil is also seen dropping as Europe’s debt crisis persists. Investors fear from the impact of Greece`s possible exit from the euro zone threatening growth, and darkening the outlook for demand on commodities.
The grim global economic outlook, Europe’s crisis and the light trading ahead of a long weekend, as US markets will be ...
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EURCHF Move Provides Temporary Excitement
Forex News and Events:
Risk appetite has recovery marginally in the Asian session as the lack of Europe-negative headlines allowed risk seekers to pick up bargains. EURUSD was able to rally off the 1.2519 lows trading up to 1.2579. One of the more tangible drivers of today’s renewed positive sentiment has been the optimistic tone out of the Iran nuclear talks. A spokesman for EU foreign policy chief Catherine Ashton, stated "there is a positive atmosphere.” Oil went bid in the European session as WTI traded swiftly to $91.31. Yesterday’s move of the day was in the EURCHF where speculation on exactly what happened is still dominating conversation. After a month of inactivity around the 1.2010 level (vols compressed to nothing), EURCHF jumped suddenly over 60 pips during the European ...
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European Market Update : 25/05/2012
Germany said to be working on growth plan for euro zone
Economic Data
(EU) ECB: €3.8B borrowed in overnight loan facility vs. €3.8B prior; €760.9B parked in deposit facility v €765.9B prior
(RU) Russia Narrow Money Supply w/e May 21st (RUB): 7.00T v 6.93T prior
(SG) Singapore Apr Industrial Production M/M: -3.5% v +06%e; Y/Y: -0.3% v +4.1% prior
(DE) Germany Jun GfK Consumer Confidence: 5.7 v 5.6e
(FR) France May Consumer Confidence: 90 v 88e
(ES) Spain Apr Producer Prices M/M: -0.8% v 0.0%e; Y/Y: 3.1% v 2.7%e
(AT) Austria Mar Industrial Production M/M: +1.6% v -1.4% prior; Y/Y: +0.8% v -0.9% prior
(CH) Swiss Q1 Non-Farm payrolls: 4.049M v 4.044M prior
(DE) Germany May CPI Saxony M/M: -0.2%% v +0.1% prior; Y/Y: 1.9% v 2.0% prior
(IT) Italy Mar Retail Sales M/M: -0.2% V -0.2%e; Y/ ...
Title:
Another Day, Another New Correction Low For EUR/USD
Sunrise Market Commentary
- Fixed Income: Hunt for yield
- Following horrible French and German PMI readings, core bonds set new highs. The German 10-yr yield set an all time low at 1.35% and this initiated for the first time a “hunt for yield” trade into Belgian, Austrian and French bonds. The trade was most visible at the longer end of the curve, resulting in a bull flattening.
- Currencies: Another day, another new correction low for EUR/USD
- On Thursday, the decline of EUR/USD was extended. However, given the flood of negative news, the damage could have been worse. EUR/GBP struggles to hold above the 0.8000 barrier. Today, the calendar is thin. However, one can expect investors to stay cautious going into a long weekend. This is no help for the euro
The Sunrise ...
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Dukascopy Morning Forex Overview : 25/05/2012
Fundamental Analysis
EUR
"The euro zone is being buffeted by major headwinds."
- Howard Archer, chief European economist at IHS Global Insight
European manufacturing and services industries contracted in May. A composite index based on a survey of purchasing managers in manufacturing and services sectors declined to 45.9 from 46.7 in April, said the Markit Economics on Thursday.
USD
"It looks more and more like businesses are hesitating to invest in the face of worsening uncertainties in the and global economy."
- Pierre Ellis, a senior economist at Decision Economics
The number of Americans claiming for unemployment benefits declined slightly by 2,000 to a seasonally adjusted 370,000 in the week ended May 19 from the week before, said the Department of Labor on Thursday.
GBP
" ...
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Asian stocks drop on worries over China’s growth and the deepening debt crisis in Europe
The MSCI Asia Pacific Index dropped 0.7% at 12:47 in Tokyo as Asian stocks are heading towards the fourth week of losses on worries China’s economy is slowing and business conditions are deteriorating while Europe’s debt crisis is deepening.
The MSCI Asia Pacific Index fell 1.2% this week, heading for its longest weekly losing streak since November, mainly on fears from the impact of Greece`s possible exit from the eurozone and China’s slowing economy since it threatens Asian trade.
One day after China reported lackluster data from the manufacturing sector, three bank officials with knowledge of the matter said that China’s largest banks may miss their lending targets for the first time in seven years.
As Europe’s debt crisis curbs exports, manufacturing shrinks and demand on new homes ...
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U.S shares rise in closing
The world`s leading economy saw its shares actually erasing losses throughout the closing session as optimism returned on a local and global scale after that the Italian Prime Minister Mario Monti said Greece is likely to stay in the euro and a majority of the region’s leader`s support issuing a joint bond.
The Dow Jones Industrial Average index gained 33.60 points or 0.27% to close at 12529.75 levels, the index reached the highest point at 12539.59 and the lowest point at 12419.63, By closing 20 shares inclined while 10 shares declined.
The Standard & Poor’s 500 Index added 1.82 points or 0.17% to close at 1320.68 levels, the index reached the highest point at 1324.14 and the lowest point at 1310.50, By closing 288 shares inclined while 208 shares declined and 4 shares remained ...
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U.S shares fluctuated in the opening
The world`s leading economy saw its shares fluctuating throughout the opening session as mixed sentiments; fears and hopes, were spread on a local scale with on one hand orders for business equipment dropped for a second month and on the other hand Hewlett-Packard Co. gained significantly.
In fact Hewlett-Packard climbed 4.8 percent as the personal-computer maker announced plans to slice its workforce by 27,000 and reported quarterly sales and profit that topped estimates.
Facebook Inc. rose 1.9 percent, poised for a second day of gains, after tumbling 19 percent earlier this week. While that Tiffany & Co. dropped 7.6 percent as the world’s second-largest luxury jewelry retailer cut its full-year profit and sales forecasts.
The Dollar index which measures the performance of the U.S. ...
Title:
Markets vs. Technocrats
Forex News and Events:
Over the past few days, the media has been relaying comments suggesting leaders are backing the stay of Greece in the EMU. For starters the G8 stressed the importance for Greece to remain in the monetary union regardless of the discord over how to best tackle the crisis. During an interview with CNBC on Tuesday, former Greek PM insisted that an exit would yield “catastrophic” consequences for the country itself and “far reaching” implications for the EU. During yesterday’s European session however, EU officials stated they have agreed over a teleconference call with Eurogroup Work Group (EWG) that each nation in the EMU must prepare an individual contingency plan in case of an exit. The EUR sank against the USD to its lowest level since July 2010 at 1.2544, down 5. ...
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