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BandTitle:
Euro holds ground, eyes on Greek aid
(Reuters) - The euro clung to most of the gains made late last week, underpinned by hopes for some progress on Greece's debt crisis, but the common currency remained vulnerable to any turn of events as European officials meet to hammer out a deal.
Euro zone finance ministers began a two-day meeting on Sunday evening to decide whether to disburse a 12 billion euro tranche of emergency loans to Greece. They will also discuss proposals for a second bailout that could be worth some 120 billion euros and keep Greece funded through 2014.
On Friday, leaders of Germany and France held out hopes for the second rescue package after they agreed on a mild solution favoured by Paris and the European Central Bank on how to involve private holders of Greek bonds.
The euro last traded at $1.4278, well ...
Title:
Forex - Uncertainty Around Greece Remains
Forex News and Events:
FX markets are still trading around the evolving situation in Greece. In fact participants are discounting just about everything else non-Greek related. Gains in EURUSD made yesterday have slowly eroded in Asian trading as headlines suggest that problems in Greece are far from being solved. EURUSD dropped from 1.4223 to 1.4133, while EURCHF continues to pressure the 1.2000 region. Asian regional indices were broadly lower with Shanghai composite posting new yearly lows. Headlines from ex-US Fed Chairman Greenspan saying default by Greece is “close to certain”, greeted European traders--really setting the negative tone for European trading.
Risk appetite got some relief from market chatter that the PBoC would expand the CNY trading band this weekend from 0.5% to 1% ...
Title:
YouTradeFX Daily Market Analysis : 17/06/2011
www.youtradefx.com
S&P 500 :
The negative sentiments prevalent in the financial markets continues to weigh down heavily on the most traded index in the world that completed a downwards movement and reached its 200 day moving average line. The meeting with the moving average line constitutes a good buy opportunity in the region of an important support level and at a relatively low and attractive price. The index is likely to continue in its southerly direction towards the significant and lower support level at around 1230 Dollars.
A continued drop, against the background of the negative momentum in the financial markets will provide an opportunity to strengthen a buy position. The last support level of 1215 Dollars can be used as an escape point in the event of an additional dive in ...
Title:
Hidden Profits from These Forgotten Treasures
In the 1850s, hardy Russian explorers and fur trappers traipsing about mountain ranges and sea passages noted oil seeps around what we call Cook Inlet today. These are the earliest historical references to the oil in Alaska.
Over the next hundred years, a variety of fortune-seekers – lone prospectors, private wildcatters and big oil companies – took shots looking for commercial oil here. While there was some success, there were mostly setbacks and a trail of abandoned wells.
It wasn’t until 1961 (two years after Alaska became a state) that Swanson River – a joint venture between Richfield and Standard Oil – became a commercially successful oil field.
The rest, as they say, is history.
More than a billion barrels of oil, along with 5 trillion cubic feet of natural gas, has been pumped ...
Title:
Greece puts brake on European high-grade dollar bank bonds
NEW YORK, June 16 (IFR) - Greece's precarious financial position has dealt a blow to the love affair US investors have had this year with European bank issuers in the investment grade dollar market.
Borrowers from across the continent and the UK are watching their spreads gap out well beyond their Financial Institutional Group (FIG) comparables in the US, regardless of whether they have Greek exposure or not.
Issuers are shelving deals until a window of opportunity opens as bankers tell them they'd be struggling to get enough demand for even a $1bn offering.
"There are definitely issuers who are looking at the market that ultimately may decide to stand down," said Dan Mead, managing director and head of FIG syndicate at Bank of America Merrill Lynch.
While higher quality European banks ...
Title:
Euro falls broadly on Greece, contagion fears
The euro tumbled to a 2-1/2-week low against the dollar on Wednesday, heading for its worst day in more than a month as investors fretted about the lack of resolution of Greece's debt crisis and the effect a default could have on European banks.
Euro zone ministers failed on Tuesday to reach agreement on how private holders of Greek debt should share the costs of a new bailout. Uncertainty over a second rescue for Athens and fears of contagion pushed the bond yields of Greece, Ireland and Portugal to euro lifetime highs.
Adding to investor unease, Moody's threatened large French banks with possible downgrades. The ratings agency also said it was reviewing ratings of subsidiaries of some Portuguese banks for possible downgrades.
"The market is really caught in a tailspin at the moment," ...
Title:
Technical analysis of the USD/CAD pair on June 14th, 2011
Commentary of the USD/CAD pair :
The pair USD/CAD took up its bearish movement and is currently testing the support at 0.9747.
We maintain to trade only short positions as far as 0.9780 is resistance.
A return below 0.9747 will comfort our bearish feeling and the breakout of 0.9720 (lower band of the bullish channel) will give a new sell signal.
However, if 0.9780 is brokne, we will be neutral between 0.9747 and 0.98.
See the previous analysis of the USD/CAD pair of June 13th, 2011
Title:
Technical analysis of the USD/JPY pair on June 14th, 2011
Commentary of the USD/JPY pair :
The pair USD/JPY took up its bearish movement after a test of the upper band of its bearish channel and is currently testing the support at 80.20.
We maintain to trade only short positions as far as 80.50 is resistance.
A return below 80.20 will comfort our bearish feeling.
The breakout of 79.57 (level 0%) will give a new sell signal and open the way towards new lowest.
However, if 80.50 is broken, we will be neutral between this level and 80.77.
See the previous analysis of the USD/JPY pair of June 13th, 2011
Title:
Technical analysis of the NZD/USD pair on June 13th, 2011
Commentary of the NZD/USD pair :
A strong bearish movement occured on the pair NZD/USD which broke the support at 0.8175 and also the lower band of its ascending broadening bevel (bearish pattern).
We now advise to trade only short positions as far as 0.82 is resistance.
The breakout of 0.81 will give a new sell signal and open the way towards 0.80.
However, if 0.82 is broken, we will be neutral.
See the previous analysis of the NZD/USD pair of June 10th, 2011
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