Market Overview by FXCC July 27 2012
ECB's Draghi's vow to save the monetary union sends markets climbing.
Concerns are also growing about global growth. The IMF said in a report today that China's slowing economy faces significant downside risks and relies too much on investment. While the economy “seems to be undergoing a soft landing”. US stocks advanced ahead of a report that may show demand for new homes rose in June and amid concern Spain may need a full bailout
Market Overview by FXCC July 26 2012
Markets take a breather.
Stock markets were in a somewhat more encouraging mood yesterday during day. Currency markets were dumping the USD in favor of a broad basket of other currency crosses including the euro, A$ and CAD among others. Equity markets are feeling the love with all European benchmarks enjoying a positive lift albeit across a wide range from the FTSE100’s small gain to a 2% rise in Spain. US markets ended fairly flat
Market Overview by FXCC July 23 2012
Spain Weighs On Global Markets
US markets closed down after worries about Spain continued to flourish. After positive earnings reports all week, markets slumped on Friday. This morning Asian markets are tumbling following Wall Street's lead. Global markets are not in such a positive mood this Monday morning, and the catalysts behind this mood swing are fairly thin but rooted in intensifying concerns about funding pressures affecting
Market Overview by FXCC July 20 2012
The USD is weakened by lackluster jobs data as earnings soar.
Asian stocks are trading mixed early this morning with gains in China and Japan whereas the Kospi and Hang Seng indices show slight declines. The euro has also given up its overnight gains as it trades below the 1.23$ mark. Weaker jobs data from the US has increased pressure for the world’s largest economy. European shares soared to a four month high on Thursday as another
Market Overview by FXCC July 18 2012
Fed Bernanke Keeps Mum... no additional clues
Asian markets have started the day off mixed after US markets rebounded amid hopes for further monetary easing in the United States. The comeback was triggered after Federal Reserve Chief Ben Bernanke gave a gloomy assessment of the economy to Congress and said the Fed would act if the situation worsened, exactly as he had stated after the June FOMC meeting and as stated in the FOMC minutes.