Daily Market Recaps Articles

July 24th, 2012 - Market Driver July 24, 2012 HSBC Chinese PMI bit better at 49.5 vs. 48.2 EZ Flash PMI data slides suggesting more contraction Nikkei off -0.24% Europe -0.38% Oil at $88.50/bbl Gold at $1547/oz. Europe and Asia: EUR German PMI Manufacturing 43.3 vs. 45.3 EUR German PMI Services 49.7 vs. 50.1 EUR Eurozone PMI Manufacturing 44.1 vs. 45.3 EUR Eurozone PMI S...

July 24th, 2012 - Euro drifted below the 1.2100 level in early European trade today in the wake of disappointing flash PMI data out of Germany and France. German Manufacturing PMI missed its mark hitting 43.3 versus 45.3 eyed while Services PMI slipped below the key 50 boom/bust level to 49.7. In France the data was bit more mixed with Services improving to 50.2 from 47.9 the period ...

July 23rd, 2012 - Daily FX Market Roundup 07-23-12 EUR: The Damage Control Begins USD: Driven Higher by Fear GBP: Sterling Remains Attractive to European Investors AUD: Shrugs Off Hotter PPI CAD: Retail Sales Numbers Due Tomorrow NZD: Oil Prices Drop 3 Percent JPY: Yen Strength Testing Resolve of BoJ / MoF EUR: The Damage Control Begins The euro ended the North American...

July 23rd, 2012 - Market Drivers July 23, 2012 Spanish 10 year hits euro era highs Spanish Economy Minister De Guidonos to meet with Schauble on Tuesday Nikkei off -1.86% Europe off -1.96% Oil at $88.79/bbl Gold at $1571/oz. Europe and Asia: AUD PPI 0.5% vs. 0.35 EUR Eurozone Consumer Confidence n/a North America: None Risk FX remained under pressure at the start of ...

July 20th, 2012 - Daily FX Market Roundup 07-20-12 EUR Getting Killed, 1.20 in Sight USD: The Safe Haven Trade is Back GBP: IMF Suggests UK Shift to Growth Focus CAD: Softer Inflationary Pressure AUD: Hotter Inflationary Pressure NZD: Credit Card Spending Rises JPY: Japanese Investors Still Buying Foreign Bonds EUR Getting Killed, 1.20 in Sight It has been another rough...

July 20th, 2012 - Having traded quietly throughout the first half of the European session, the euro sold off aggressively after the EU conference call on Spain came to an end. Although Spain’s bailout plan was officially approved by the EU, the concurrent rumor that Valencia, Spain’s third largest city will seek help from the Spanish government sent the euro plunging. W...

July 20th, 2012 - Market Driver July 20th, 2012 Friday summer slumber as FX treads water German PPI contracts by -0.4% Spanish 10 year above 7% Nikkei -1.43% Europe -0.06% Oil at $91.60/bbl Gold $1581/oz. Europe and Asia: NZD Credit Card Spending 4.6% vs. 3.9% EUR German Producer Prices -0.4% vs. -0.2% GBP Public Sector Net Borrowing 12.1B vs. 11.8B North America: CAD C...

July 20th, 2012 - German Producer prices saw their sharpest contraction since January printing at -0.4% versus -0.2% eyed in sign that energy costs and lackluster demand are having a deflationary impact on PPI. Energy costs saw the largest decline dropping -1.4% on the month while basic goods fell by -0.3%. Ex-energy German PPI declined by -0.1% on the month increasing only 1.0% ...

July 19th, 2012 - Daily FX Market Roundup 07-19-12 EUR: Spain Causing Trouble Again? USD: Another Round of Disappointing Data GBP: Shrugs Off Retail Disappointment CAD: Lifted by Hope for Stronger Data AUD: Business Confidence Drops to 3 Year Low NZD: Job Ads Decline JPY: Weather Blamed for Weaker Spending EUR: Spain Causing Trouble Again? Spain is back in the headlines...

July 19th, 2012 - Memorandum of Understanding (MoU) for the country’s bank bailout program, rumors are swirling about the EFSF’s role and subordination of bondholders. A weak Spanish bond auction sent 10-year bond yields dangerously close to the 7% mark. While Spanish yields exceeded 7% in the past, it does not diminish the fact that this level makes servicing debt prohi...

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