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| EURO/USD MT4 Chart At Australian Session Open Market Today |
ECB Policy Prospects Euro relief. U.S. Dollar Euro turned dominate after economic data was better than expected triggering expectations that the ECB will keep policy unchanged at a meeting this week. The latest economic data showed business confidence in the block perched on the 8-month highs, though on the other side of the differences between the two major countries, Germany and France, more dilated. Surprising growth in the U.S. services sector in January also helped shore up sentiment risk. "If the ECB President's press conference Mario Draghi later voiced a relatively optimistic outlook, it would be a green light for the Euro to return to the highest level recently," said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington.
Hurting Aussie RBA easing signals
The Australian dollar traded lower against the U.S. currency as the RBA signaled their readiness to cut interest rates to a record low this year, after its key interest rate unchanged at 3%. But the weakening of the Aussie is still constrained by shrinking trade deficit Australia in December. Report of the Bureau of Statistics show that exports exceeded imports by A $ 427 million ($ 444 million), after recording a deficit of A $ 2.79 billion in November. "Selling pressure clearly was triggered by a comment Aussie Reserve Bank of Australia, which saw inflation outlook has provided ample room to ease policy further," said Sue Trinh, senior currency strategist at Royal Bank of Canada in Hong Kong. "Making the market thinks if the RBA was ready to make it happen.
Failed to Save the Data Services Sector Sterling
Pound fell sharply despite the UK services sector was able to expand more strongly than expected in January. Mounting concerns about the UK economy has prompted investors such as hedge funds institutions to anticipate Sterling fall further, especially against the Greenback. Risk of recession and the credit rating downgrade, speculation about further monetary easing and the uncertainty relations between the UK and the European Union continue to deliver selling pressure on Sterling. "There is no single reason to buy Sterling at this time," said Neil Mellor, currency strategist at Bank of New York Mellon. "Never try to catch a falling knife." During the year 2013 it has become one pound sterling coin with the worst performance, down more than 5% versus the euro and fell about 3% versus the U.S. dollar.
U.S. Stocks Recover From Worst Weakness in Year 2013
U.S. stocks ended higher on Tuesday, erasing most of the losses in the previous session, boosted by a series of positive earnings reports and economic data of Europe. The Dow Jones Industrial Average rose nearly 100 points, but failed to close above the psychological level at 14.000, led by UnitedHealth Strengthening index and Bank of America. The rally came after stocks fell more than 1 percent and amid renewed concerns in Europe as well as investors took a pause after the Dow hitting 14,000 for the first time since October 2007 last week. "Buyers are taking over the exit and rally today as selloff yesterday. However, today's rally not as strong selloff yesterday, "said Elliot Spar, market strategist at Stifel Nocolaus.
Gold slid after Investor Optimism In U.S. and European data
Gold slipped on Tuesday, down from a rally earlier in the session, as a solid gain in U.S. equities and an improving economic outlook that suppress gold's appeal as a safe haven. Gold rose early in the session after data showed the current Hong Kong to mainland China gold purchases jumped by 47% in 2012 which led to a record high. This report is consistent with recent official data that showed an interest for the interest of gold by central banks such as Russia, South Korea and other emerging economies. Signs that the economy in the euro zone was stable also depress the price of gold. The Markit's Eurozone Data Composite PMI showed a rise to its highest level in 10-months in January, and the U.S. services sector data also prompted investors to switch into equities and out of gold, analysts said.
Oil Strengthens Data As Markets Cheer
Oil futures closed higher on Tuesday as economic data from the U.S. and Europe helped improve traders view on the outlook for energy demand. But oil prices failed to cover losses in the previous session, as traders waited for news of U.S. oil stockpiles in the week, which is expected to stock up on crude oil and gasoline will increase. "Oil has been in a very stable trend since established a base in the range of $ 86 in November / December last year, and now looks to be a consolidation mode, said Jason Rotman, President at Lido Isle Advisors in Newport Beach, California. For now, the $ 98 level is seen as a strong level of congestion, but if oil can break above that level we will see the next level of the range $ 102, "he added.
Obama Urges Congress To Delay Automatic Budget Cuts
President Barack Obama urged Congress to delay the automatic budget cuts that are scheduled from March 1 to avoid the "real impact and slow" growth of the U.S. economy. Obama said that lawmakers should act in a smaller package than budget cuts and changing the tax code that would increase revenue, such as limiting the tax breaks, to replace part of the budget reductions are valued at $ 1.2 trillion. "Cutting budgets indiscriminately and deeper "in the federal budget" will sacrifice jobs and slow the recovery of the sector of our economy, "Obama said at the White House." It does not have to happen. "
Hurting Aussie RBA easing signals
The Australian dollar traded lower against the U.S. currency as the RBA signaled their readiness to cut interest rates to a record low this year, after its key interest rate unchanged at 3%. But the weakening of the Aussie is still constrained by shrinking trade deficit Australia in December. Report of the Bureau of Statistics show that exports exceeded imports by A $ 427 million ($ 444 million), after recording a deficit of A $ 2.79 billion in November. "Selling pressure clearly was triggered by a comment Aussie Reserve Bank of Australia, which saw inflation outlook has provided ample room to ease policy further," said Sue Trinh, senior currency strategist at Royal Bank of Canada in Hong Kong. "Making the market thinks if the RBA was ready to make it happen.
Failed to Save the Data Services Sector Sterling
Pound fell sharply despite the UK services sector was able to expand more strongly than expected in January. Mounting concerns about the UK economy has prompted investors such as hedge funds institutions to anticipate Sterling fall further, especially against the Greenback. Risk of recession and the credit rating downgrade, speculation about further monetary easing and the uncertainty relations between the UK and the European Union continue to deliver selling pressure on Sterling. "There is no single reason to buy Sterling at this time," said Neil Mellor, currency strategist at Bank of New York Mellon. "Never try to catch a falling knife." During the year 2013 it has become one pound sterling coin with the worst performance, down more than 5% versus the euro and fell about 3% versus the U.S. dollar.
U.S. Stocks Recover From Worst Weakness in Year 2013
U.S. stocks ended higher on Tuesday, erasing most of the losses in the previous session, boosted by a series of positive earnings reports and economic data of Europe. The Dow Jones Industrial Average rose nearly 100 points, but failed to close above the psychological level at 14.000, led by UnitedHealth Strengthening index and Bank of America. The rally came after stocks fell more than 1 percent and amid renewed concerns in Europe as well as investors took a pause after the Dow hitting 14,000 for the first time since October 2007 last week. "Buyers are taking over the exit and rally today as selloff yesterday. However, today's rally not as strong selloff yesterday, "said Elliot Spar, market strategist at Stifel Nocolaus.
Gold slid after Investor Optimism In U.S. and European data
Gold slipped on Tuesday, down from a rally earlier in the session, as a solid gain in U.S. equities and an improving economic outlook that suppress gold's appeal as a safe haven. Gold rose early in the session after data showed the current Hong Kong to mainland China gold purchases jumped by 47% in 2012 which led to a record high. This report is consistent with recent official data that showed an interest for the interest of gold by central banks such as Russia, South Korea and other emerging economies. Signs that the economy in the euro zone was stable also depress the price of gold. The Markit's Eurozone Data Composite PMI showed a rise to its highest level in 10-months in January, and the U.S. services sector data also prompted investors to switch into equities and out of gold, analysts said.
Oil Strengthens Data As Markets Cheer
Oil futures closed higher on Tuesday as economic data from the U.S. and Europe helped improve traders view on the outlook for energy demand. But oil prices failed to cover losses in the previous session, as traders waited for news of U.S. oil stockpiles in the week, which is expected to stock up on crude oil and gasoline will increase. "Oil has been in a very stable trend since established a base in the range of $ 86 in November / December last year, and now looks to be a consolidation mode, said Jason Rotman, President at Lido Isle Advisors in Newport Beach, California. For now, the $ 98 level is seen as a strong level of congestion, but if oil can break above that level we will see the next level of the range $ 102, "he added.
Obama Urges Congress To Delay Automatic Budget Cuts
President Barack Obama urged Congress to delay the automatic budget cuts that are scheduled from March 1 to avoid the "real impact and slow" growth of the U.S. economy. Obama said that lawmakers should act in a smaller package than budget cuts and changing the tax code that would increase revenue, such as limiting the tax breaks, to replace part of the budget reductions are valued at $ 1.2 trillion. "Cutting budgets indiscriminately and deeper "in the federal budget" will sacrifice jobs and slow the recovery of the sector of our economy, "Obama said at the White House." It does not have to happen. "
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