Tag: spain
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The 1-0 over-time victory of Spain over the Netherlands in yesterday's World Cup Final has generated an interesting question among market analysts. Does this victory put optimism and positive sentiment back into Spain's crumbling economy? Can it boost short-term growth enough to add further momentum to the euro's latest gains against its primary rivals? Summary USD - USD Sinking Under Weight of Risk Appetite EUR - Does Spain's Victory in the World Cup Help the EUR? JPY - Kan's Democratic Party Defeat Saps JPY Strength OIL - Chinese Imports and Weak USD Boost Oil above $76
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With the Euro already recording fresh 14-month lows against the U.S. Dollar on Thursday, the single currency may see a significantly larger price drop following the U.S. Non-Farm Payrolls report. Set to be released at 12:30 GMT, the report is forecasted to show an increase in the American employment figure. This will likely weigh heavily on the Euro. Summary USD - Non-Farm Payrolls Could Lead to Big Gains for the Greenback EUR - Euro Continues to Fall With No End in Sight JPY - Yen Makes Big Gains as Safe Haven Currency OIL - Spot Crude Plummets on Market Turmoil
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Fears that the sovereign debt issues will spread to other weak economies such as Spain and Portugal as well as concerns that the bailout package will not be enough to return Greece to solvency caused the EUR to fall to its lowest level in 14 months versus the USD. Summary USD - USD Gains on Negative Market Sentiment EUR - EUR Drops over 1% versus the USD JPY - Yen Rallies versus Counterparts OIL - Crude Price Drop blow $80 a Barrel
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