ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
BankingTitle:
Dukascopy Morning Forex Overview : 08/05/2012
Fundamental Analysis
EUR
" show that despite the crisis in the euro area, Germany is growing and benefiting from a revival in international trade."
- Klaus Baader, senior economist at Societe Generale SA
German factory orders rose by more than forecast in March, a sign Europe’s largest economy is weathering the debt crisis.
USD
"From where we sit right now, we think the economy looks fundamentally stronger."
- Marisa Di Natale, an economist at Moody’s Analytics in West Chester
U.S. stocks closed mixed on Monday after Francois Hollande was elected as a French president and Greek voters turned to antibailout parties.
GBP
"… the challenging economic backdrop suggests that a significant acceleration in prices or activity is unlikely in the near term."
- Robert Gardner, Nationwide’s ...
Title:
Euro eases but possible short covering may lend support
(Reuters) - The euro eased on Tuesday but stayed above the previous day's three-month low, with the potential for short covering seen offering the currency some support even as political uncertainty in Greece clouded its outlook.
The single currency dipped 0.1 percent from late U.S. trade on Monday to $1.3035, but stayed well above Monday's trough near $1.2955, its lowest level since late January.
The euro came under pressure on Monday after elections in Greece and France cast doubt on the ability to push through austerity plans regarded as key to tackling the euro zone debt crisis.
"This seems to me like a pretty serious situation," said Satoshi Okagawa, senior global markets analyst at Sumitomo Mitsui Banking Corp. in Singapore, referring to the election results and political ...
Title:
Euro dips but market positioning may lend support
(Reuters) - The euro eased on Tuesday but stayed above the previous day's three-month low, with market positioning seen offering the currency some support even as worries over political uncertainty in Greece clouded its outlook.
The single currency dipped 0.1 percent from late U.S. trade on Monday to $1.3043, but stayed well above Monday's trough near $1.2955, its lowest level since late January.
The euro had initially come under pressure on Monday after the outcome of elections in Greece and France cast doubt on the ability to push through austerity plans regarded as key to tackling the euro zone debt crisis.
"This seems to me like a pretty serious situation," said Satoshi Okagawa, senior global markets analyst at Sumitomo Mitsui Banking Corp. in Singapore, referring to the election ...
Title:
Old feud appears to sink Obama's Fed nominees
(Reuters) - President Barack Obama's two nominees to the Federal Reserve appear likely to fall victim to a long-running political feud, which would leave the central bank short-handed as it struggles with tough regulatory and monetary policy questions.
Republican Senator David Vitter has demanded that the Senate hold a debate before any vote on the nominees, which would require Democratic leaders to muster a super majority to move forward - a hurdle that may be too high to clear.
As a result, the Senate may end up abandoning the nominees, Harvard economist Jeremy Stein and investment banker Jerome Powell, and leave a decision on filling out the normally seven-member Fed board until after this year's presidential election.
"I refuse to provide Chairman Bernanke with two more rubber ...
Title:
China ruling on funds sourcing a blow to foreign private equity: WSJ
(Reuters) - China's top economic-planning agency, in a setback for foreign private equity funds, has ruled that all capital in a yuan-denominated fund must come from local Chinese investors, failing which the funds will be treated as foreign, the Wall Street Journal said.
Being treated as foreign will restrict overseas private equity funds' investments, at a time they face increasing competition from local funds.
The statement from the National Development and Reform Commission specifically cites a fund run by Blackstone Group LP (BX.N), which could have benefited from getting local status for a five billion yuan ($795.4 million) fund it is about halfway through raising, the paper said.
Foreign private equity firms had been banking on their yuan funds being treated as local even if up ...
Title:
S&P ends almost flat; investors shrug off Europe
Investors brushed off Europe's election results, as the S&P 500 rebounded from early losses to end nearly unchanged on Monday, despite the uncertainty surrounding the euro zone's ability to tackle its debt crisis.
U.S. financial stocks, normally highly sensitive to events that could unsettle the euro zone's fiscal stability, were not only the biggest gainers, but had the heaviest volume.
The S&P 500 financial sector index .GSPF rose 0.7 percent. Bank of America (BAC.N) shares shot up 2.8 percent to $7.96 and Goldman Sachs (GS.N) gained 1 percent to $110.04.
"One positive thing we are seeing out of the elections and we are hearing from the ECB chairman is a focus on growth and that austerity measures alone are not going to get them out of this crisis," said Sean Lynch, global investment ...
Title:
Wall Street dips, mood fragile after Europe elections
The S&P 500 and Nasdaq were little changed Monday, rebounding from steep losses early in the session after election results in Europe clouded the region's outlook as it grapples with a financial crisis.
Financial shares .GSPF were up 0.13 percent, helping to briefly push the S&P into positive territory. Wall Street suffered a sharp decline on Friday, and the S&P racked up its worst weekly performance this year.
Greeks voted out ruling parties in elections on Sunday, dealing a blow to the fragile political consensus that has kept Europe's currency bloc intact through more than two years of crisis. Greece's banking index .FTATBNK slid 13 percent.
"The election results were not a complete surprise, but now investors need to brace for the eventuality of Greece leaving the euro zone," said ...
Title:
Investors fret after Greek, French votes
Greek and French election results rattled global investors on Monday by undermining confidence in the region's plans to cut spending and tackle its debt crisis, sending the euro to a three-month low.
European shares also initially traded lower, with Greek stocks down 6.4 percent .ATG, but reaction was muted with the UK market closed for a holiday. Wall Street stocks were expected to reflect the weaker tone when they being trading .N.
Investors sold bonds of other weaker euro zone member states after the two pro-bailout parties in Greece failed to win a parliamentary majority, rekindling fears over the country's future in the single currency.
"The Greek election outcome is the ultimate Greek tragedy. Not having a cohesive government means the IMF will not release further funds. Without ...
Title:
Stock futures weaker after French, Greek elections
Stock index futures fell on Monday as elections in France and Greece stirred up new uncertainties about how the region will tackle its ongoing debt crisis.
Investors were still digesting Friday's weaker-than-expected April payroll report, which sparked a selloff and produced a weekly loss of 2.4 percent for the S&P 500 -- its worst weekly performance of the year.
Greeks voted out ruling parties in elections on Sunday, dealing a blow to the fragile political consensus that had kept Europe's currency bloc intact through more than two years of crisis. The country's banking index .FTATBNK slid 16 percent.
In France, Socialist candidate Francois Hollande won the presidency over incumbent Nicolas Sarkozy, raising pressure on Germany to pursue a more growth-oriented approach to the regional ...
|