Forex – EUR/USD Trims Gains After ECB Cuts Interest Rates

Forex – EUR/USD Trims Gains After ECB Cuts Interest Rates
Forex – EUR/USD Trims Gains After ECB Cuts Interest Rates
Forexpros – The euro trimmed gains against the U.S. dollar on Thursday, after the European Central Bank unexpectedly cut its key interest rate, while Greek Prime Minister George Papandreou was expected to resign later in the day.
EUR/USD retreated from 1.3834, the pair’s highest since Tuesday, to hit 1.3765 during European afternoon trade, still up 0.13%.
The pair was likely to find support at 1.3582, the low of October 12 and resistance at 1.3827, Wednesday’s high.
The ECB cut its benchmark interest rate from 1.5% to 1.25%, as the region’s escalating debt crisis overshadowed concerns over persistently high inflation.
Meanwhile, Mr. Papandreou’s government was on the brink of collapse after several ministers said they did not support his plan for a referendum on the bailout agreement for Greece, agreed on last week.
The euro had strengthened broadly earlier, amid speculation that the referendum could be cancelled, ahead of a vote of confidence in Prime Minister Papandreou’s government on Friday.
On Wednesday, French and German leaders told Greece it will not receive any more financial aid until it decides it wants to remain within the euro zone and warned that Greece will surrender all European aid if it votes against the bailout deal.
In the U.S., the Department of Labor said earlier that jobless claims rose less-than-expected last week, climbing by 397,000 after a 406,000 increase the previous week. Analysts had expected jobless claims to rise by 401,000 last week.
Elsewhere, the euro was lower against the pound, with EUR/GBP shedding 0.38% to hit 0.8588.
Later Thursday, new ECB President Mario Draghi was to chair his first post policy-meeting press conference, while the U.S. was to release

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Forex – EUR/USD Trims Gains After ECB Cuts Interest Rates


Forex – EUR/USD Trims Gains After ECB Cuts Interest Rates

Forexpros – The euro trimmed gains against the U.S. dollar on Thursday, after the European Central Bank unexpectedly cut its key interest rate, while Greek Prime Minister George Papandreou was expected to resign later in the day.
EUR/USD retreated from 1.3834, the pair’s highest since Tuesday, to hit 1.3765 during European afternoon trade, still up 0.13%.
The pair was likely to find support at 1.3582, the low of October 12 and resistance at 1.3827, Wednesday’s high.
The ECB cut its benchmark interest rate from 1.5% to 1.25%, as the region’s escalating debt crisis overshadowed concerns over persistently high inflation.
Meanwhile, Mr. Papandreou’s government was on the brink of collapse after several ministers said they did not support his plan for a referendum on the bailout agreement for Greece, agreed on last week.
The euro had strengthened broadly earlier, amid speculation that the referendum could be cancelled, ahead of a vote of confidence in Prime Minister Papandreou’s government on Friday.
On Wednesday, French and German leaders told Greece it will not receive any more financial aid until it decides it wants to remain within the euro zone and warned that Greece will surrender all European aid if it votes against the bailout deal.
In the U.S., the Department of Labor said earlier that jobless claims rose less-than-expected last week, climbing by 397,000 after a 406,000 increase the previous week. Analysts had expected jobless claims to rise by 401,000 last week.
Elsewhere, the euro was lower against the pound, with EUR/GBP shedding 0.38% to hit 0.8588.
Later Thursday, new ECB President Mario Draghi was to chair his first post policy-meeting press conference, while the U.S. was to release

Futures and Forex – Crude Oil Gold and Silver Prices Higher while Dollar Slides vs Yen and Euro

Futures and Forex – Crude Oil Gold and Silver Prices Higher while Dollar Slides vs Yen and Euro

(Best Syndication News) Crude oil prices advanced Monday as investor optimism pushed stock prices higher around the world (see forex and commodity charts below). Even silver and gold prices went positive as the dollar slipped.
While Europeans debate the path to an economic solution, manufacturing in China continued to grow in October. With most of the respondents reporting, the HSBC China Flash Purchasing Managers' Index is expected to rise to 51.1 in October. This will be the first time in three months the PMI didn’t constrict.

Economists had expected the Australian Producer Price Index (PPI) to gain more in the third quarter (YOY) than it did. The PPI gained just 2.7 percent while analysts had expected an increase of 2.9 percent.

Precious Metals

Gold and silver prices advanced Monday as investors continued to buy-in again. December gold on the COMEX climbed $16.20 (+0.99%) to $1,652.30 a troy ounce (see the survey #2 chart below).
Silver on the COMEX for December delivery climbed 45 cents (+1.45%) to $31.64 an ounce. The ratio between gold and silver hit 52.2.
October platinum gained $35.00 (+2.33%) to $1,538.70 an ounce. The difference between gold and platinum expanded slightly to $113.60.
Gold, silver and other precious metals added value on the Tokyo Commodity Exchange (TOCOM). Gold for August 2012 climbed 39 yen (+0.97%) to ¥4,050 yen per gram. See the TOCOM chart below for our exclusive dollar conversions.

Energy Prices

Light sweet crude oil (WTI) on the New York Mercantile Exchange (NYMEX) climbed $3.87 (+4.43%) to $91.27 a barrel.
Brent Crude prices can benefit from strong manufacturing growth in China. Brent crude oil on the Intercontinental Exchange (ICE) jumped $1.89 (+1.73%) to $111.45 a barrel.

Currency Exchange Rates

The dollar fell versus the yen and euro. The greenback slid versus other currencies including the Canadian dollar and British pound sterling.
The EUR/USD pair hit 1.3928 while the USD/JPY hit 76.1200.
By: Tom Madison
Business Reporter
TOCOM Chart with our EXCLUSIVE $$$ Conversions:

10/24/2011	Tokyo Commodities Exchange		One-Day	One-Day	30-Day	100-Day	Delivery
Yen *	Commodity	Dollars	¥ Change	% Change	% Change	% Change	Month
4,050	Gold (standard)	$1,655.12	39	0.97%	-10.50%	1.71%	Aug-12
76.5	Silver	$31.26	1	1.19%	-23.96%	-18.18%	Aug-12
3,797	Platinum (standard)	$1,551.73	86	2.32%	-15.68%	-19.96%	Aug-12
1,577	Palladium	$644.48	73	4.85%	-12.68%	-20.79%	Aug-12
49,740	Crude oil	$103.91	690	1.41%	-0.36%	-9.48%	Mar-12
62,220	Gasoline	$3.09	500	0.81%	1.77%	-4.69%	Apr-12
292.5	Rubber	$1.74	8	2.96%	-19.02%	-24.90%	Feb-12
52.94	Ratio Gold/Silver		0	-0.22%	17.70%	24.31%
	* ¥ / gram kiloliter and kilogram PST

Survey #2 settle price chart (NYMEX COMEX and ICE):

Monday	Survey # 2 (BSNCOM2)	One-Day	One-Day	1 Week	30-Day	100-Day
10/24/2011	Energy and Metal Settle	$ Change	% Change	% Change	% Change	% Change
109.56	Brent crude	0.00	0.00%	-0.23%	-2.08%	-5.42%
73.50	Coal	0.40	0.55%	-0.68%	-2.07%	-4.17%
3.45	Copper HG	0.23	7.15%	2.10%	-13.12%	-16.58%
91.27	Crude oil (WTI)	3.87	4.43%	5.66%	1.18%	-8.93%
2.67	Ethanol ZE CBOT	0.02	0.72%	-2.12%	-2.23%	0.94%
1652.30	Gold GC	16.20	0.99%	-1.45%	-9.72%	7.13%
3.05	Heating Oil (HO)	0.04	1.23%	1.36%	4.04%	-0.07%
3.60	Natural gas NG HH	-0.02	-0.69%	-2.28%	-9.45%	-23.43%
638.10	Palladium PA	20.35	3.29%	3.56%	-12.23%	-18.53%
1538.70	Platinum PL	35.00	2.33%	-0.56%	-15.15%	-15.63%
31.644	Silver SI	0.45	1.45%	-0.56%	-23.05%	-12.56%
2.69	RB RBOB Gasoline	0.00	0.16%	-1.97%	-1.95%	-10.17%
52.25	UxC Uranium U3O8	-1.00	-1.88%	-1.88%	-0.38%	-8.33%
10/24/2011	Averages and Ratios	Change	One-Day	1 Week	30-Day	100-Day
323.3	Average All	5.81	1.83%	-0.19%	-11.66%	-7.69%
652.7	Metals Average	11.87	1.85%	-0.31%	-12.35%	-7.78%
40.9	Energy Average	0.62	1.53%	1.41%	-1.10%	-6.47%
52.2	Ratio Gold/Silver Prices	-0.24	-0.45%	-0.90%	17.33%	22.52%
-113.6	Difference Plat-Gold	18.80	-14.20%	-12.14%	584.34%	-140.38%
1.07	Ratio Plat/Gold	-0.01	-1.31%	-0.90%	6.41%	26.97%
1.2	Ratio Brent / WTI Prices	-0.05	-4.24%	-5.57%	-3.22%	3.85%
$18.29	Difference Brent - CL	-3.87	-17.46%	-21.94%	-15.64%	17.09%

Basic Forex Chart:

USD/JPY	76.12	-0.1000 (-0.13%)
EUR/USD	1.3928	+0.0075 (0.54%)
USD/CAD	1.0009	-0.0086 (-0.85%)
GBP/USD	1.6007	+0.0073 (0.46%)
AUD/USD	1.0484	+0.0163 (1.58%)
USD/HKD	7.7757	-0.0055 (-0.07%)
USD/CNY	6.361	-0.0213 (-0.33%)

You May well be in Danger for Mesothelioma. Find how a Mesothelioma Attorney at law can Assist You

You May well be in Danger for Mesothelioma. Find how a Mesothelioma Attorney at law 
 can Assist You
Article by Lawyer Finder

Mesothelioma  Mesothelioma    ,Mesothelioma,Mesothelioma  , Mesothelioma,,Mesothelioma  , Mesothelioma
Do you function in construction and have coverage to older constructing materials? Have you
been experiencing strange symptoms like coughing up blood or excessive and sudden weight loss? Do you have pain in your abdominal region and swelling? If any of these questions applies to you, you may well either be at probability for or currently have mesothelioma. Mesothelioma is a variety of cancer that is brought on solely by publicity to asbestos. Asbestos is a type of mineral that was utilized in construction due to the fact of its thermal insulating properties and durability. It became recognized that asbestos publicity is dangerous to humans, yet a number of employers continue to use asbestos or are knowledgeable that there is asbestos at a employment web-site. For this explanation, it is absolutely imperative that you seek help from a mesothelioma attorney at law as soon as doable due to the fact that you are entitled to rewards that you may not even be conscious of.A top mesothelioma lawyer will stop at nothing right up until you are compensated for your ailment. Considering that mesothelioma is 100 percent preventable, if your employer was conscious that asbestos was made use of in a construction web-site you were exposed to, then they are at fault for your ailment and liable to pay for your wellness bills. Your mesothelioma attorney will take care of contacting your employer to obtain out in detail what has happened at your work and will even go as far as setting up doctor’s appointments for you so you can get checked out. Your mesothelioma lawyers will leave no stone unturned when it comes to your situation. Don’t wait right until it is as well late to get assist. Contact a skilled mesothelioma attorney appropriate now so you can get diagnosed and begin receiving remedy.
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FACTORS TO LOOK FOR WHILE CHOOSING CLASSIC CAR INSURANCE

 Classic car fulfils the passion of every rich car lover, but it turns to be a common car if not cared properly. It is crucial for a classic car owner to ensure proper maintenance of the classic vehicle.

Classic car insurance plays an important role in terms of saving the car appropriately. These

types of insurance policy compensate the owner for most of the damages. There are many companies in insurance market offering specialised deals. These specialised car insurance eases the task of owner to protect their vehicle but at the same time choosing the right insurance policy is a big dilemma for many motorists.
One should check for hidden loopholes before taking any service from the insurance provider. Take into account the below pointers.
Does the chosen company offer agreed value coverage?
Agreed value is an agreement made between the insurers and car owner at policy inception in terms of fixing a value. It helps in getting sufficient compensation if your car meets with an accident.
What are the exact usage limits?
Consider the classic car insurance policy that suits best to your plans while using the classic car. This will assist you in saving good cash if you are not a frequent driver.
Is the chosen company offers any discount?
An appropriate insurance will always inform its customer about any discounts or offers. So it is worth to confirm this fact properly.
Does the insurance company offer policy for classic car or modified cars that are under construction?
Some insurance companies observe the growth made on the vehicle while in the garage for maintenance and allow the car owner to regulate the worth of the classic car as the task continues. This kind of insurance policy covers damages against the terrible incidences.
Having classic car insurance policy is an expensive yet effective consideration to prevent paying hefty amounts

Forex - Good morning Emerging Europe/Africa

Good morning Emerging Europe/Africa (FX MMKT HIGHLIGHTS TODAY PLN CZK HUF RUB TRY ZAR)
Good morning Emerging Europe/Africa - 28 Oct
RECAP GLOBAL MARKETS
USD/Majors: EUR was due for a bout of profit taking after rising to stratospheric levels yesterday and so it proved in the Asian session. Overnight buying was mostly executed by algo accounts, with short term stops triggered along the way. While GBP partook in the rally as well, its rise was not as pronounced as EUR, leading to prices trading firmly above 0.8800 in EURGBP. AUD was the biggest gainer in overnight trading, and it was no surprise to see it fall 70 pips with short term profit taking seen.
JPY/Crosses: Month-end exporters' offers dragged USD/JPY under the 75.90-mark by Asia mid-day while EUR/JPY was also a tad softer from overnight highs, currently at 107.50-ish levels amid profit taking. Meanwhile, GBP/JPY saw slippage towards the 122-figure, weighed by lower consumer confidence survey and similarly, AUD/JPY also on the decline after the overnight surge and at the 81-figure at last indication. Nikkei returned from lunch, up 1.2%.

RECAP GLOBAL DATA/EVENTS
* US: Q3 GDP 2.5%, as exp. Core PCE 2.1% vs 2.5% exp.
* US: Initial claims to 402k from 404k, vs 401k exp.
* US: Sep pending home sales -4.6% vs +0.3% exp
* EU: China is very likely to contribute to the eurozone's bail-out fund but the scope of its involvement will depend on European leaders satisfying some key conditions - FT
* EU: French Pres Nicolas Sarkozy sliced France growth forecast for 2012 and said his govt will unveil its second austerity package since the summer as it seeks to meet its deficit targets. - DJ
* UK: GFK Consumer confidence survey came in at -32 vs exp -30
* Japan: Sept household spending in at -1.9% vs exp -3.5%. Sept Jobless rate at 4.1% vs exp 4.5%. CPI print 0% vs exp 0.1% while Tokyo CPI for Oct came in at -0.5%, as expected. Industrial Production for Sept out at -4% y/y and -4% m/m, vs exp -2.3% and -2.1%.
RECAP EM ASIA
USD/Asians: Asian bourses took the cue from Wall Street and got off to a roaring start with SEXSEX in the lead, last seen at 2.7% and SETI not far behind at 2.4%. Notably, gains in some other bourses which opened earlier have moderated as seen in HSI and Kospi. FX-wise, the underperformer was SGD with 0.3% loss against the dollar, followed by THB at -0.2%. On the other end of the spectrum, INR, MYR and KRW strengthened 1.4%, 1.1% and 1% respectively vs the dollar, backed by firm EUR and equity gains.



UPCOMING KEY GLOBAL DATA/EVENTS
* In the US:
Friday will see the release of Sep personal income and spending data, which we expect to show some resilience amid generally choppy trends. Personal income should rise 0.4% (market at 0.3%) as spending increases 0.6%, with core PCE rising 0.2% (consensus at 0.1%). The final revision to Oct Michigan sentiment will also be due, expected to edge up to 58.5, with the market expecting a smaller revision to 58.0. 1-year inflation expectations should remain unchanged at 3.2% but we expect the 5-year measure to modestly pare its slip to 2.8%.
* In Europe:
At last a bit of a breather from summit fever, though it won't be long before it's on to the next rounds of scrutiny next week - be it the first Draghi press conference (where he will be under pressure to elaborate on his stance and what he meant on unconventional policy) or the Nov G20 meeting. For now though it seems like their has been a suspension of disbelief regarding all the major doubts on implementation, firepower, and fundamental underlying problems unaddressed, and a willing to go along with the notion that a statement of intent has been made. It's quite a busy data calendar though this may struggle to make much impact against the broader brush mood. Spanish unemployment is seen unchanged at 20.9%, and HICP down to 2.9% from 3%, while Q3 Belgium GDP is seen holding up at 0.4% from 0.5%. French consumer spending is seen flat and still weak yr/yr (-0.6%y/y from -0.7%

).

FOREX-Euro eases after rally, more short-term gains eyed

Euro takes breather after eye-watering rally
* Euro/dlr 1-mth vols at 2-mth lows as nerves over Europe ease
* Italian debt auction eyed
* Dlr/yen not far off record low, market on intervention watch
* Aussie down on profit-taking after biggest jump in 16 mths
By Antoni Slodkowski
TOKYO, Oct 28 (Reuters) - The euro came off a seven-week peak on Friday as investors took a breather after a huge relief rally in riskier assets following a deal on Europe's debt crisis, though investors were eyeing more short-term gains in the currency.
The deal included an agreement that private banks and insurers would accept 50 percent losses on their Greek debt holdings, leveraging of the EU bailout fund and recapitalisation of its banks.
While the agreement is unlikely to solve all Europe's financial problems, the clear signs of progress, combined with healthy U.S. third-quarter GDP, changed the outlook for the dollar to strongly bearish and to more upbeat for riskier currencies.
Traders said funds that had been underweight risk in the past few months piled back into markets for fear of missing out on a more sustainable rally into the year-end.
In the longer term the euro remains vulnerable, however, as the EU still needs to find the money for the newest version of its bailout fund, with doubts lingering on whether its new size of around 1 trillion euros ($1.4 trillion) will be enough to staunch the crisis.
"The implications of the Greek PSI (private sector involvement) and the EFSF leverage, in terms of concrete implementation and sovereign ratings in particular, are the two main sources of uncertainty," said Frederik Ducrozet, an economist at Credit Agricole.
The euro, which hit a seven-week high of $1.4248, slipped 0.1 percent to $1.4171 . Traders pointed to small offers starting to build up above $1.4200 and stops at $1.4260.
"Meanwhile, significant achievements have been confirmed towards a more efficient economic and fiscal framework for the euro zone, with a clear focus on boosting growth and competitiveness," Ducrozet said.
The currency options market also indicated a fair amount of optimism about the euro, with declining volatility suggesting investors see less need to hedge against any negative events that may come out of Europe.
Implied volatility on one-month euro/dollar options, a gauge of expectations regarding a currency's price action, fell on Friday to 13.05 percent from 14.85 percent late on Wednesday, marking its lowest in nearly two months.
While those tentative signs so far bode well for the euro, traders will be able to gauge to what extent the EU deal has really improved sentiment for the highly indebted countries at an Italian auction later on Friday.
The common currency was well-supported with bids between $1.4100 and $1.4120, near its 200-day moving average of around $1.4102. The 100-day moving average at $1.4075 offered additional backing.
NURSING LOSSES
The dollar steadied after sustaining heavy losses that caused its biggest one-day decline in more than two years against other major currencies, with more drops looming ahead.
"We may see a bit of profit-taking, but I don't get the sense that the trend will change," said a sales trader for a major Japanese bank in Tokyo.
The liquid dollar, with its near-zero interest rates guaranteed over the next two years, is the first to be sold off in times of global optimism, as investors use it to fund forays into risky trades.
Against the yen, the dollar was at 75.89 yen , having carved out yet another all-time low around 75.66 yen on Thursday, even after further monetary policy easing by the Bank of Japan.
That prompted Japanese Finance Minister Jun Azumi to repeat a warning that he would take firm steps against the yen's rise as needed.
The dollar index was last at 75.028, having dropped from as high as 76.299 on Thursday.
Commodity currencies, among the biggest gainers on Thursday, fell prey to profit-taking. The Australian dollar was down 0.4 percent at $1.0665 , having surged on Thursday to $1.0753 from sub-$1.0400 in its biggest one-day rally in 16 months.
The move has brought the Aussie within sight of the Sept. 1 peak of $1.0765, a level that is likely to cap its upside for now.
Overall trade in Asia was light as players wanted to finish the week neutral ahead of the Federal Reserve meeting on Nov. 1-2 followed by the Nov. 3 European Central Bank meeting.