• Dollar Lacks Conviction as Sentiment, Data and Testimony Pare Safe Haven Demand• Euro: Markets May not be Able to Ignore Greece’s Troubles for Much Longer• Japanese Yen Struggling to Maintain Fundamental and Risk Ties as Conditions Deteriorate
Dollar Lacks Conviction as Sentiment, Data and Testimony Pare Safe Haven DemandFirst and foremost, the US dollar is [...]
The final reading for 4Q German GDP confirmed that growth for the period was flat but significant revision in the breakdown changed the picture for the economy. Domestic demand was revised lower to -2.1% from 1.3% with imports dropping 1.8% as consumers continue to retrench.
Fundamental Headlines
• Wary Consumers Crimp Retail Outlook – Wall Street Journal• [...]
MOSCOW, Feb 25 (Reuters) – Russia’s budget deficit should not exceed the target 6.8 percent of gross domestic product in 2010, Finance Minister Alexei Kudrin said on Thursday, dismissing earlier statements from his ministry.
Kudrin’s deputy Tatiana Nesterenko said on Feb. 12 that Russia was in danger of posting a deficit of 7.2 percent of GDP [...]
US Dollar: Policy Tightening and Mounting Risk Build Bullish PressureEuro Forecast Unclear Amidst Greek Debt CrisisJapanese Yen Torn Between Fed Policy Outlook, Risk SentimentBritish Pound May Benefit From Revised 4Q Growth FiguresSwiss Franc to Maintain Near-Term Trend Against U.S. Dollar, EuroCanadian Dollar Benefits from its Fundamentally Stable PositionAustralian Dollar Forecast to Gain as S&P 500 [...]
The Euro may rise against the US Dollar as leading indicators hint at the likelihood of an upside surprise in February’s German IFO business confidence survey while rising equity index futures point to well-supported risk appetite.
Key Overnight Developments
• US Dollar Slides Against Japanese Yen Ahead of Bernanke Testimony• Euro, British Pound Little Changed in Quiet [...]