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Fundamental Market Overview

May 17 2012 05:35EDT

EUR
"We expect euro-region inflation to normalize in 2013"
- Michael Schubert, an economist at Commerzbank AG
Inflation in the seventeen nation bloc eased to 2.6 per cent in March from 2.7 per cent the previous month, said the European Union’s statistics office in Luxembourg on Wednesday.

USD
"Uncertainty about Greece and the effects a potential exit out of the euro would have on Europe, the global economy and the financial system in general is driving investors out of stocks into safe havens"
- Markus Huber, head of German sales trading at ETX Capital
The Standard & Poor's 500 lost 0.44%, or 5.86 points, to 1,324.80. The Dow Jones Industrial Average declined by 0.26%, or 33.45 points, to 12,598.55.

GBP
Unemployment figures are a "welcome step in the right direction" Chris Grayling, Employment Minister
Unemployment in the U.K. declined by 45,000 to 2.63 million, Office for National Statistics data showed on Wednesday. The jobless rate fell to 8.2 per cent.

CHF
"Western stock markets and key risk-centric proxies are likely to activate a temporary relief rally from very oversold price conditions"
- Ron William, technical strategist at MIG Bank
Swiss stocks closed higher on Wednesday amid Compagnie Financiere Richemont SA surprising the market with better than predicted earnings.

JPY
"Risk aversion is rising, making it hard for investors to make a move through June while monitoring Greek political developments"
- Hitoshi Asaoka, a senior strategist at Mizuho Trust & Banking Co.
Japanese stocks added to losses Wednesday on Greek political impasse.


Press Release

Europe
Spain borrowing costs set to rise amid Greece fears
Spain's borrowing costs look set to spike on Thursday when the country's treasury sells up to 2.5bn euros (£2bn; $3.2bn) of three- and four-year sovereign bonds.

USA
Boehner, Obama clash over debt limit increase
Democrats and Republicans are on another collision course over increasing U.S. borrowing authority as President Barack Obama told Republicans on Wednesday that he does not want spending cuts to accompany such legislation.

Asia & Pacific
Japanese growth in strong bounce
Japan's economy rebounded in the first quarter, but analysts warned that the pace of expansion will soon ease as temporary boosts to consumption and investment fade.

 

 

Disclaimer: This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.