ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
As Markets Are VolatileTitle:
Dukascopy Morning Forex Overview : 22/05/2012
Fundamental Analysis
EUR
"Inevitably there is going to be an element of bargain hunting as investors look to top up their holdings on the basis of slightly lower prices"
- Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers
European stocks edged higher on Monday on China’s pledge to boost growth.
USD
"Equity prices have gotten oversold"
- Mark Luschini, chief investment strategist for Janney Montgomery Scott LLC
U.S. equity market edged higher on Monday on China stimulus hopes and after German and French officials said they would cooperate to keep Greece in the monetary union.
GBP
"Obviously, as the euro depreciates, the U.K. gets slightly more expensive"
- Miles Shipside, Rightmove commercial director
U.K. national house prices stagnated in March, announced the ...
Title:
SunBirdFX Daily Market Analysis : 05/22/2012
www.sunbirdfx.com
Wall Street opened the trading week with the expected short-squeeze that launched NASDAQ 2.4%, mainly because of Apple. The short-positions holders decided to realize their investments and take profits, as the buyers took advantage of that for gaining profits by opening long positions. This momentum might continue in the next few days, and in this point, it is important to remember that the previous bearish session ended with a sharp bullish day, and this might be the signal for this possible turnover. However, it is too soon to know whether the stocks have stopped falling or not and we need to wait few more days.
AUD/USD
The recovery of the US stock markets weakened the USD against most of the currencies, which might start a correcting session against the USD. The ...
Title:
Euro Succeeds Short Squeeze
Sunrise Market Commentary
- Fixed Income: Global core bonds take a breather
- Investors remained mostly sidelined in an uneventful session on Friday. The G-8 meeting stressed the need for growth, besides fiscal consolidation and sees Greece staying inside EMU. This shouldn’t surprise markets today. With a razor thin calendar, trading might start the week in a lackluster mode.
- Currencies: Euro succeeds short squeeze
- On Friday, the decline of the euro halted and EUR/USD succeeded a cautious rebound, even as uncertainty on the EMU debt crisis persisted. Technical considerations will also dominate trading today as the G8 meeting provided no high profile measures to address the debt crisis.
The Sunrise Headlines
- US Equities rose for a second consecutive session on ...
Title:
SunBirdFX Daily Market Analysis : 05/21/2012
www.sunbirdfx.com
The bearish momentum in Wall Street continued last week as indices shed 4%-5% during the week. The sharp declines were expected from the technical analysis point of view, since the main indices broke significant support in their daily charts, which we have analyzed and marked as key levels. The S&P 500 broke the support at 1350 points and reached the target we set at 1300 points, mainly because of the collapse of the financial sector. The volumes are increasing, which means that the sellers are gaining power, in spite improving economic data and the optimism that spread with Facebook trading on Friday. The three main indices are close to the annual opening levels as NASDAQ's next support is at 2400 points.
EUR/USD
We have been mentioning the support at 1.30 as a ...
Title:
Euro rallies from 4-month low but crisis remains
The euro rose from a four-month low against the dollar on Friday as investors pared bets against the single currency after a 4 percent drop this month, but concerns about Greece and Spain were likely to keep it under pressure.
Despite Friday's gains, investors preferred the relative safety of the U.S. dollar and the Japanese yen. They were reluctant to increase risk exposure after Moody's cut the credit ratings of 16 Spanish banks on Thursday.
With no U.S. data to drive foreign exchange markets, investors are most likely to consolidate positions ahead of the weekend following days of euro losses.
"The biggest risk today is position squaring into the weekend; however there appears to be increasing evidence that the euro is likely to move lower in the days ahead," said Camilla Sutton, ...
Title:
Canadian Consumer Prices Rose 0.4% on a Monthly Basis in April With Core Prices Posting a Like-Sized
Canadian Consumer Prices Rose 0.4% on a Monthly Basis in April With Core Prices Posting a Like-Sized Gain
- The all-items Canadian CPI rose 0.4% in April, matching the increase in each of the previous three months, though slightly stronger than the 0.3% expected by markets going into the report.
- On a year-over-year basis, the inflation rate edged up to 2.0% from 1.9% in March, reflecting increases among core components.
- The core measure rose 0.4%, stronger than expectations for a 0.2% monthly increase. The annual core inflation rate rose to 2.1% from 1.9% in March.
- The upward surprise in CPI in April puts core inflation modestly above the updated inflation profile provided by the Bank of Canada in last month's Monetary Policy Report, which takes into account "a gradual ...
Title:
Markets Correct Some of the Weekly Losses Ahead of the G8 Summit
As the end of this week approaches, markets started to correct some of the losses incurred through the week. Investors started to close their bearish positions ahead of the coming week, before the G8 summit, which is taking place in the U.S, the thing that supported the euro to rebound over daily basis, cutting most of the losses.
Today, pessimism dominated the euro with the start of the session, where negativity was driven by the Greek downgrade, as Fitch Ratings cut the credit ranking of Greece by one notch to CCC from B- on concerns the nation might exit the euro as more and more Greeks are joining anti-austerity parties.
Moreover, Moody`s downgraded sixteen Spanish banks due to the current turmoil in the debt market in addition to the technical recession and rising unemployment, ...
Title:
Dukascopy Morning Forex Overview : 05/18/2012
Fundamental Analysis
EUR
"Spain, once again, is where the confidence game is played"
- Sebastian Paris Horvitz, strategist at HSBC Private Bank Suisse
Spain sold the maximum targeted amount of debt, 2.5 billion euros, during yesterday’s auction with spiking borrowing costs. The interest rate of three-year bonds rose to 4.373% from April’s figure of 2.89% while interest rate of five-year bonds surged to 5.106% from 3.374 in March.
USD
"What we’re seeing in foreign-exchange markets is strong demand for the U.S. dollar"
- Steven Saywell, head of foreign-exchange strategy for Europe at BNP Paribas SA
Latest US initial unemployment claim data was released yesterday – 370 000 Americans demanded their jobless benefits last week versus a 368 000 consensus forecast. The Labor Department revised ...
Title:
SunBirdFX Daily Market Analysis : 05/18/2012
www.sunbirdfx.com
The US stock markets keep falling as NASDAQ shed 2.1% yesterday and Dow is close to erase everything it gained since the beginning of the year. The investors will focus on Facebook, which will start trading today for the first time.
GBP/USD
The collapse of the stocks makes the investors to move their investments to the USD, as many believe that the American economy is the more stable than the European economies. Therefore, the USD is strengthening against most of the major currencies, which fall sharply because of that. The pound reached the target we set for the current bearish session at 1.58 and stochastic low levels indicate for a possible correction that might hit 1.59. Nevertheless, if the stocks continue falling, we will probably see additional break-down by the ...
|