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Dukascopy Forex Overview: 17-05-2013 - Afternoon
| Dukascopy Bank analytic desk report Published: 17/05/2013 15:54 | |
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Featured Product: Expert Commentary
Daragh Maher, FX Strategist at HSBC, on the Japanese Yen
What do you think about the recent Japanese Yen weakening below the 100Y barrier, and what were the main reasons behind this drop? |
Dukascopy Technical Analysis
EUR/JPY
"This shows foreign markets are the main source of demand, not to say the only one, for the euro-zone activity"- BNP Paribas 9based on the Wall Street Journal) In the period of last 7 days, on any given day stayed in 120 pips range. Overall range of the same period does not exceed 160 pips. |
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Dukascopy Fundamental Analysis
USD
The number of Americans filing new claims for unemployment benefits rose more than initially was expected last week, suggesting the slowdown in economic growth is prompting an increase in firings, the Labor Department said Thursday. |
Expert Commentary
"We have already had a roughly 30% move in USD/JPY, which is far bigger than we saw in the Dollar during the first two rounds of quantitative easing in the U.S."
- Daragh Maher, FX Strategist at HSBC, on the Japanese YenWhat do you think about the recent Japanese Yen weakening below the 100Y barrier, and what were the main reasons behind this drop? >> |
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Press Review
L.A. Little
Google is your market tellThis endless "up" has rendered most technical-analysis tools useless unless you are trading intraday and keying off signals generated on a few days' time frame. |
Market Research
Currency index & Volatility: JPY
Usually the most volatile currency deviated the least from its base value, along with the Swiss Franc. Since May 10 the Japanese Yen gained only 0.11%, while in the previous reports its index changed by more than a per cent. |
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Dukascopy Bank Sentiment Index
Global economic outlook
The six-month and three-year global economic expectations climbed in April, a Dukascopy Bank SA poll showed. The six-month economic sentiment index advanced 0.05 to 0.61. The three-year economic outlook rose to 0.71, up from 0.69 in March. |
Global Stock Market Review
Dow Jones Industrial Average
Most U.S. blue chips were bearish on Thursday amid negative data on the U.S. economy. Manufacturing in Philadelphia fell unexpectedly in May as the number of new orders declined and manufacturers reduced employment and working hours. |
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Commodity Overview
Precious Metals
Precious metals were mixed on Thursday despite speculation that worse-thanexpected U.S. numbers will keep the Fed’s monetary policy loose. However, broadly stronger U.S. Dollar and shrinking ETF holdings put heavy selling pressure on the commodity group. |
Trade Pattern Idea
USD/SEK Emerging Pattern: Channel Up
USD/SEK has formed a Channel Up pattern on the 1H chart. The pattern has 46% quality and 50% magnitude in the 97-bar period. >>
Weekly EUR/GBP Emerging Pattern: Descending Triangle |
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Economic Research
The Day-Of-The-Week Effect
The day-of-the-week effect is one of the calendar anomalies of the stock market. According to this phenomenon, average daily returns are not constant over the week. Furthermore, it suggests the tendency of assets to have lower average daily returns on Monday and relatively high daily returns at the end of the week. |
Dukascopy Aggregate Technical Indicator
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| Disclaimer: This overview can be used only for informational purposes. Dukascopy Bank SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained. |
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