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EUR/USD Classical Technical Report 04.16

April 16, 2012

EUR/USD: The latest round of setbacks have stalled ahead of some key multi-week support by 1.3000 and from here, we still can not rule out risks for additional consolidation above 1.3000 before …

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US Dollar Index Classical Technical Report 04.16

April 16, 2012

US DOLLAR INDEX: The market remains locked in a multi-day consolidation and should continue to chop between the 9,600-10,100 area. Overall, we do retain a bullish outlook given the broader …

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Markets Await Heavy Data From the Wold’s Largest Economy

April 15, 2012

The U.S. economy is preparing to report the month’s mostly-awaited data this week, starting with manufacturing to housing releases and of course Canada economy will steal the spot with its rate …

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Turkmenistan GDP grew 10.4% in Q1: President

April 15, 2012

(MENAFN) Turkmenistan’s President Kurbanguly Berdymukhamedov said the gas-fueled nation’s GDP rose 10.4 percent in the first quarter, Reuters reported. The growth was less than 14.4 percent …

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Weekend: Early Markets Drifting, Looking to Earnings, Spain, China for Cues

April 15, 2012

Weekend Developments ECB Asmussen: Europe has done enough on firewall, IMF members should increase contributions ECB Asmussen: Spain is repairing market confidence Spanish PM Rajoy seen …

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WTO says Iran exports up 30% in 2011

April 15, 2012

(MENAFN) The World Trade Organization (WTO) said that last year, Iran’s exports grew over 30 percent from a year earlier, reported Tehran Times. The WTO added that the increase came in spite of …

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Iran plans to boost number of its aircraft

April 15, 2012

(MENAFN) Iran’s Civil Aviation Organization’s director, Reza Nakhjavani, said that the organization would raise the number of the country’s passenger planes, reported Tehran Times. Nakhjavani …

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China’s CB expands yuan currency trading band to 1%

April 15, 2012

(MENAFN) The People’s Bank of China said that it widened the yuan’s daily trading band against the US dollar from 0.5 percent to 1 percent, reported Reuters. The central bank added that the move …

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The top events in Asia this week

April 15, 2012

Asian markets are waiting for many important data during the upcoming week, where Australia will release the RBA meeting minutes and industrial production reading for February, besides Tertiary …

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Inflation in focus, eyes to track any changes in the highest unemployment rate in U.K.

April 15, 2012

With the start of another week, eyes will be tracking the huge load of fundamentals and events expected this week, where during our session the focus will be on inflation data from the euro-area …

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British Pound Outlook Threatened by BoE Minutes, CPI

April 14, 2012

Fundamental Forecast for British Pound: Neutral British Pound at Major Turning Point British Pound Likely to Fall Further versus Yen British Pound to Outperform The British Pound had a …

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Gold Advance to be Short-Lived as Growth Concerns, Techs Point Lower

April 14, 2012

Fundamental Forecast for Gold: Bearish Gold Threatens April High Crude Oil Sold on US Jobs Disappointment, Gold Watching for QE3 Clues Gold & Silver Daily Outlook Gold prices closed …

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Rise in Spanish bond yields reignite debt crisis concerns 

April 14, 2012

Despite the efforts done by European officials to ease the debt crisis, worries spread in markets after the rise in Spanish 10-year bond yields to 6 percent, coming close to levels which forced …

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Euro Sticks to Range, but Losses Likely on Spain and Italy Troubles

April 14, 2012

Fundamental Forecast for the Euro: Bearish Euro crisis fears subside and boost EURUSD, but not for long Greek deficit report nonetheless reminds traders all is not well Key Euro/US Dollar …

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Forex Trading Weekly Forecast – 04.16.2012

April 14, 2012

US Dollar Ready to Break Impasse, Eyes on Earnings and Rates Euro Sticks to Range, but Losses Likely on Spain and Italy Troubles Japanese Yen Strength to Fizzle Amid Growth Fears, BoJ …

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US Dollar Ready to Break Impasse, Eyes on Earnings and Rates

April 14, 2012

Fundamental Forecast for the US Dollar: Bullish Dollar fails to rally on a critical post-NFP tumble for the S&P 500 A weak 1Q Chinese GDP reading revives the Greenback’s reserve …

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India takes US to WTO over steel products duties

April 14, 2012

(MENAFN – Arab Times) India has taken the United States to the World Trade Organisation over duties on Indian steel products, according to a notice Friday, in the latest commercial row between the …

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US battle to revive manufacturing

April 14, 2012

(MENAFN – Khaleej Times) In his January 2012 State of the Union address, US President Barack Obama mentioned the word “manufacturing” eight times. In what was effectively the kickoff of his 2012 …

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Weak China GDP growth no signal for fresh stimulus

April 14, 2012

(MENAFN – Arab News) Speculation that China’s weakest quarter of annual economic growth since the global financial crisis will trigger a flood of policy support to fight the downturn misses a …

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China’s Hebei agrees to invest in Canada’s Alderon, Kami project

April 13, 2012

(MENAFN) China’s Hebei Iron & Steel Group agreed to buy a stake in Canada-based Alderon Iron Ore Corp, in addition to a stake in the Kami iron ore project in Eastern Canada for USD194 …

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Marriott plans to strengthen presence in Caribbean and Latin America

April 13, 2012

(MENAFN) Marriott International Inc. unveiled plans to further strengthen its foothold in the Caribbean and Latin America over the next few years, in a bid to tap the booming economic status in the …

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U.S. Stocks Plunge; S&P Logs Worst Weekly Slide In 2012

April 13, 2012

U.S. stocks settled lower at the close on Friday, after logging the best two-day rally this year and joining global equities amid downbeat economic reports from the 17-nation euro area  to the …

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U.S. Stocks Plunge; S&P Logs Worst Weekly Slide In 2012

April 13, 2012

U.S. stocks settled lower at the close on Friday, after logging the best two-day rally this year and joining global equities amid downbeat economic reports from the 17-nation euro area  to the …

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Google’s 1Q Earnings Beat Forecasts

April 13, 2012

Google, Inc. (NASDAQ:GOOG) reported its first-quarter results for the year 2012 indicating an incline in net income by 61% reaching $10.08 per share, beating market expectations of $9.64 a share, …

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Google posts 61% surge in Q1 net income

April 13, 2012

(MENAFN) Google Inc. said that first-quarter net income hiked 61 percent from 2011′s USD1.8 billion to USD2.89 billion, reported AP. The Mountain View, Calif.-based firm added that total revenue …

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KKR invests USD65m in China Cord Blood

April 12, 2012

(MENAFN) US private equity manager KKR & Co. plans to invest USD65 million in China Cord Blood (CO) Corp., as it seeks to tap China’s growing healthcare industry, Bloomberg. Healthcare …

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Greece’s jobless rate grows to 21.8% in Jan

April 12, 2012

(MENAFN) The Greek Statistical Authority said that in January, the country’s jobless rate jumped to 21.8 percent, reported AP. The agency added that in the period, 1,084,668 people were without …

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Swatch buys Swiss Simon Et Membrez to boost own production

April 12, 2012

(MENAFN) Swiss watch maker Swatch Group is set to acquire watch case maker Simon Et Membrez, as it seeks to increase its own production division, Reuters reported. The world’s largest watch maker …

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Swiss Roche posts 1% fall in Q1 sales

April 12, 2012

(MENAFN) Roche Holding’s AG chief executive, Severin Schwan, said that in the first quarter, sales slipped 1 percent from the same period a year ago to USD12.05 billion, reported AP. Schwan added …

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EUR/JPY Classical Technical Report 04.12

April 12, 2012

EUR/JPY: The market is finally in the process of correcting following the latest surge to fresh 2012 highs just over 111.00. From here, we see risks for further weakness towards the 103.00 area, …

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EUR/JPY Classical Technical Report 04.12

April 12, 2012

EUR/JPY: The market is finally in the process of correcting following the latest surge to fresh 2012 highs just over 111.00. From here, we see risks for further weakness towards the 103.00 area, …

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GBP/JPY Classical Technical Report 04.12

April 12, 2012

GBP/JPY: The market is finally in the process of correcting following the latest surge to fresh 2012 highs by 133.50. From here, we see risks for further weakness towards the 125.00 area, but …

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GBP/JPY Classical Technical Report 04.12

April 12, 2012

GBP/JPY: The market is finally in the process of correcting following the latest surge to fresh 2012 highs by 133.50. From here, we see risks for further weakness towards the 125.00 area, but …

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AUD/USD Classical Technical Report 04.12

April 12, 2012

AUD/USD: Our bearish outlook in this market is being reaffirmed with the latest pullback and we continue to project deeper setbacks over the coming days and weeks back below parity. A fresh lower …

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NZD/USD Classical Technical Report 04.12

April 12, 2012

NZD/USD: The market has been locked in a sideways chop over the past several sessions to temporarily delay our bearish outlook. However, any rallies towards 0.8300 are viewed as a formidable …

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USD/CAD Classical Technical Report 04.12

April 12, 2012

USD/CAD: Our constructive outlook remains intact despite the latest interday pullback with the market largely locked in a medium-term consolidation ahead of what we believe will be an eventual …

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GBP/USD Classical Technical Report 04.12

April 12, 2012

GBP/USD: Failure to establish any fresh momentum on the recent break above 1.6000, followed by an aggressive bearish reversal now suggests that the market could finally be looking to carve a top …

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USD/CHF Classical Technical Report 04.12

April 12, 2012

USD/CHF: Our core constructive outlook remains well intact with the latest setbacks very well supported by psychological barriers at 0.9000. It now looks as though the market could be looking to …

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USD/JPY Classical Technical Report 04.12

April 12, 2012

USD/JPY:The market continues to correct from the recent 2012 highs established by 84.20 several days back and risks still exist for additional setbacks into the 79.00-80.00 area before considering …

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S Korea posts 3.7% decline in Mar jobless rate

April 12, 2012

(MENAFN) Statistics Korea said that in March, the country’s unemployment rate fell to 3.7 percent from 2011′s same period, reported Xinhua News. The agency added that the number of South Koreans …

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Putin says Russia’s economy overcomes recession

April 12, 2012

(MENAFN) Russia’s Prime Minister and President-elect, Vladimir Putin, said that the country’s economy has overcome the consequences of the 2008, 2009 and 2010 recession, reported Xinhua …

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Sony, Sharp Post Record Annual Losses $11 Billion

April 12, 2012

(MENAFN – Qatar News Agency) Japan’s biggest LCD TV makers, Sony and Sharp, have posted record annual losses of a combined 900 billion-yen ($11 billion, Dh40.58 billion) as the first decline in …

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U.S. Budget Deficit Hits Record High for March

April 12, 2012

(MENAFN – Saudi Press Agency) The U.S. federal budget deficit is running slightly lower than last year through the first six months of the government’s fiscal year, but it still is on track …

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U.S. economy continues to expand amid concerns over rising gasoline prices

April 12, 2012

(MENAFN – Kuwait News Agency (KUNA)) The economy across the U.S. continued to expand at a “modest to moderate pace” from mid-February through late March but there remains to be concern over rising …

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Militants’ trial unlikely to change US secret operation policy

April 12, 2012

(MENAFN – Arab News) When the Obama administration declared it wanted to put suspects involved in the Sept. 11, 2001, attacks on trial in a New York federal courtroom, cries of outrage erupted in …

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Finnair plans to slash 280 jobs

April 11, 2012

(MENAFN) Finnair PLC said that as the carrier plans to reduce costs, it would slash 280 jobs, reported AP. The company added that the plan follows March’s decision to sell its catering operations …

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Sharp expects to post USD4.7b full-year loss

April 11, 2012

(MENAFN) Japanese Sharp said that due to delayed shipments of LCDs used for mobile devices and restructuring costs, the company would post a record loss of USD4.7 billion for the year to March, …

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Emerging Asia growth to slow to 6.9% in 2012

April 11, 2012

(MENAFN) The Asian Development Bank said that economic growth of Asian emerging countries in 2012 is forecasted to slow to 6.9 percent, down from earlier projection of 7.5 percent, reported …

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US Alcoa’s income rises to USD94m in Q1

April 11, 2012

(MENAFN) Alcoa Inc. said that profit in the first quarter grew to USD94 million, compared with a loss of USD191 million posted for the fourth quarter, reported AP. The largest US aluminum …

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U.S. Wholesale Stockpiles Rose in February

April 11, 2012

(MENAFN – Saudi Press Agency) U.S. wholesale businesses increased restocking in February while more expensive gasoline drove sales higher, the government reported on Tuesday. The Commerce …

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