ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
As The Euro And CommoditiesTitle:
Oil falls as IAEA sees deal with Iran near
(Reuters) - Oil fell on Tuesday in choppy trading as indications a deal may be near on Iran's nuclear program eased worries about oil supply disruptions, countering supportive U.S. home resale data.
The U.N. International Atomic Energy Agency's (IAEA) director said he expected to sign a deal with Iran soon, to boost cooperation with the investigation into Tehran's nuclear activity, although differences remained.
U.S. crude fell more approaching the June contract's expiration at the end of Tuesday's session and ahead of weekly oil data expected to show crude stockpiles rose last week in the United States.
Title:
Dukascopy Afternoon Forex Overview : 22/05/2012
Fundamental Analysis
EUR
Gold extended previous gains in Asian session on Tuesday as concerns over Greek exit from the single currency union eased. At G8 summit leaders of eighth largest economies stated that they would do everything possible to retain Greece in the Euro Zone. COMEX gold June contract traded at 1,592.35 US Dollars per troy ounce on the New York Mercantile Exchange, advancing by 0.23%.
USD
The US Senate has passed a bill aimed at tightening sanctions imposed on Iran to force the country to cease its nuclear program. The new sanctions imply investigation of role of Iran's Revolutionary Guard in oil exports as well as obliging the US companies to disclose any business activities with Iranian partners. The move came ahead of negotiations between Iran and six major ...
Title:
Gold Falls on Worries in Markets, Before EU Summit
Precious-Gold dropped as worries in markets after Fitch downgrade to Japan and before an awaited informal EU summit tomorrow damped demand on the yellow metal.
Concerns increased after Japan had its credit ranking slashed by Fitch which revealed that Japan`s slackening response to tackling its public debt burden is the key reason behind the downgrade.
On the other hand, worries from the euro area continued amid speculations there would be frictions among European leaders at their meeting in Brussels tomorrow.
While the newly elected French President Francois Hollande will propose introducing Eurobonds to ease the tensions in European bond markets, German Chancellor Angela Merkel said she will not be shy to reject Hollande`s idea of introducing Eurobonds.
Hence, with possible ...
Title:
The Endgame of the Greek Crisis
Forex News and Events:
It has taken two-and-a-half years, and nearly USD 300bn of IMF/EU funds for markets to finally weigh in a more probable than not exit of the debt-laden country. Greece’s EMU exit is imminent for the second time in the last six months. Surprisingly though, the trigger for the recent gloomy expectations for Greece was not exclusively of an economic nature but also politics. During May 6 elections, the Greeks expressed their unwillingness to abide by the agreed-upon austerity measures. It wouldn’t have been a very dangerous position had Greece been solvent, but regardless of EU officials’ reassurance of continued help for Greece throughout the process, the country would run out of funds for the next installments due end of June and early July. In addition to markets ...
Title:
European Market Update : 22/05/2012
Fitch cuts Japan's sovereign rating two notches
Economic Data
(JP) Japan Apr Supermarket Sales Y/Y: --1.9% v -2.4% prior
(FI) Finland Apr Unemployment Rate: 8.4% v 8.4%e
(DK) Denmark May Consumer Confidence Indicator: 0.4 v 0.6 prior
(ZA) South Africa Mar Leading Indicator: 134.5 v 134.4 prior
(NL) Netherlands May Consumer Confidence: -38 v -32 prior
(NO) Norway Q1 GDP Q/Q: 1.4% v 0.9%e; GDP Mainland Norway Q/Q: 1.1% v 0.9%e
(UK) Mar ONS UK House Prices Y/Y: -0.4% v +1.0% prior
(UK) Apr Public Finances (PSNCR): -£23.2B v -£6.0Be; Public Sector Net Borrowing: -£18.8B v -£22.8Be; PSNB ex Interventions: -£16.5B v -£20.0Be
(UK) Apr CPI M/M: 0.6% v 0.6%e; Y/Y: 3.0% v 3.1%e; Core CPI Y/Y: 2.1% v 2.0%e
(UK) Apr RPI M/M: 0.7% v 0.6%e; Y/Y: 3.5% v 3.4%e; Core RPI- Ex Mortgages Y/Y: 3.5% ...
Title:
Copper falls as dollar firms, debt crisis weighs
(Reuters) - Copper fell on Tuesday as the dollar firmed and uncertainty about Europe's ability to resolve its debt crisis outweighed reports that top metals consumer China will fast-track infrastructure investment.
Three-month copper on the London Metal Exchange touched a week-high of $7,816 a metric ton (1.1 ton) in the session, before erasing gains to $7,712 at 5:37 a.m. EDT (0937 GMT), down 0.2 percent from Monday's $7,731 close.
One of the price supports for copper on Tuesday was a report in the state-backed China Securities Journal that Beijing will fast track its approval of infrastructure investments to combat slowing growth and a sluggish property sector. Copper is used extensively in construction.
Premier Wen Jiabao has also called for additional efforts to support growth, ...
Title:
Gold drops from $1600 levels amid possible frictions between European leaders
Precious-Gold dropped after approaching $1600 levels amid possible conflict between European leaders over measures to tackle the debt crisis.
Yesterday, German Chancellor Angela Merkel said she will not be shy to reject Hollande`s idea of introducing Eurobonds at the informal EU summit taking place in Brussels tomorrow.
With possible frictions between European leaders crisis may intensify more which will probably make investors refrain from buying commodities and risky assets.
The shiny metal advanced yesterday after Chinese Premier Wen Jiabao said he will give utmost determination to boost growth, while German and French Finance Ministers said they agreed "to do everything to keep Greece in the euro club."
Gold is currently trading around $1582.06 an ounce after recording a high of $ ...
Title:
EUR/USD Rebound On Profit Taking
Sunrise Market Commentary
- Fixed Income: limited profit taking on core bond markets
- Global core bond markets fell prey to some profit taking in a thin, dull trading session. However, given the strength of equities, bond losses were very limited and occurred at the onset of trading. Today, the eco calendar remains thin and the profit taking might go some further in the run-up to tomorrow's informal EU Summit.
- Currencies EUR/USD rebound on profit taking
- The correction in EUR/USD was prolonged, but the euro gains were modest and mostly technical in nature. The UK inflation report is the eye-catcher of the day as it may influence sterling. However, overall trading might again be thin ahead of tomorrow's euro Summit.
The Sunrise Headlines
- US Equities rose for a second ...
Title:
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 ...
|