Euro strength and dollar weakness further emerge in thin trading activity as geopolitical uncertainty creeps higher (Israel-Hamas & India-Pakistan), giving gold a $13 boost to a 10-week high of $890/oz and more than a $5 rise to crude oil at $42.17 /barrel. The escalating violence between Israel and Hamas served… Read More …
The dollar fell 2.2% against the Swiss franc, 2.0% against the euro, 1.3% against the Australian dollar 1.0% against the New Zealand kiwi, 0.6% against the yen but just 0.2% against sterling. The Canadian dollar firmed 0.3%. The South African rand climbed 1.5%. Sterling sank to another record low of… Read More …
Speculators will continue to push for Euro parity against Sterling, but this will set the stage for a very sharp correction as the Euro will be over-extended. Sterling remained fragile ahead of the Christmas holiday and was unable to secure any respite while UK markets were closed as it dipped… Read More …
As geopolitical tensions were reborn in the largest black gold area, the Middle East, along with the endless global crisis, it consequently caused the dollar to weaken further against the euro since the conflict between Palestine and Israel expanded these past days with a recent offensive air attack on Gaza… Read More …
The Swiss KOF leading indicator dropped to -0.39 in December, from a revised -0.04 (previously: -0.05) in November. Our median was -0.25, so data were much weaker than anticipated and the lowest since April 2003. The institute said that the data “is signaling that during the next few months the… Read More …
Overall, the dollar continued to lose value in the overnight sessions. The greenback fell against almost every major currency, as it seems the current dollar value does not reflect the economic conditions. Furthermore, the dollar is losing value as treasuries fell last week, indicating money is running out of the… Read More …
The KOF Economic Barometer continued to decline in December, and is pointing to an ongoing contraction in the Swiss GDP. The KOF’s Core GDP module, which sums up about 90% of the Swiss GDP, is indicating a clear contraction in the following months. In addition, Swiss exports have deteriorated in… Read More …
The Euro rallied above 1.4250 on comments from German Finance minister Peer Steinbruek and French GDP showing growth in the third quarter. The German finance minister told the Hannover-based Neue Presse newspaper that Germany is situated to handle the current economic crisis and that the country has yet to decide… Read More …
The Pound tumbled to an all time low of 96.98 against the Euro as dealers eyed parity that would be a first since the single European currency?s launch in 1999. Retail sales figures will be closely watched over the coming week as the economy hopes to receive a boost from… Read More …
Most major currency pairs were confined to narrow ranges and volume was lighter than usual with most Asian and European markets closed. Trading resumed in the United States after markets were shut on Thursday for the Christmas holiday. The Dollar rose against the Yen on Friday after data showed sharp… Read More …
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