ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Been Tested ButTitle:
European Market Update : 23/05/2012
Euro hits fresh 2012 lows ahead of informal summit; More reports of an ECB contingency plan in the works
Economic Data
(GR) Greece Mar Current Account: -2.1B v 1.1B prior
(NL) Netherlands Mar Consumer Spending Y/Y: % v -1.3% prior
(SE) Sweden Apr Unemployment Rate: % v 7.8%e
(EU) Euro Zone Apr Current Account: +7.5B v -5.6B prior; Current Account Seasonally Adj: +7.5B v -1.2B prior
(IT) Italy May Consumer Confidence: 86.5 v 89.5e (lowest reading on record after series began in 1996))
(ZA) South Africa Apr CPI (all items) M/M: 0.4% v 0.5%e; Y/Y: % v 6.2%e
(TW) Taiwan Apr Industrial Production Y/Y: -2.3% v -1.7%e; Commercial Sales Y/Y: -2.4% v -0.9% prior
(UK) Apr Retail Sales Ex Auto Fuel M/M: -1.0% v -0.7%e; Y/Y: -0.3% v +0.7%e
(UK) Apr Retail Sales with Auto Fuel M/M: -0.8% ...
Title:
Euro Falls as Eurobond Debate Begins
Euro is dropping today as eurozone leaders meet to discuss growth options for the 17-nation currency zone. Eurozone growth has been sluggish, verging on recession, and that is impacting the ability of member states to handle their sovereign debt. One of the options being floated as part of a package is a eurobond. However, Germany is opposed to such a measure.
Euro is heading lower today, mostly due to uncertainty. There is uncertainty surrounding the Fitch downgrade of Japan. But mostly there is uncertainty in the eurozone. While there are widely published numbers that seem to indicate that most Greeks want to remain in the eurozone, the actions in the election seem to suggest otherwise. The leaders Greeks voted for are largely against austerity measures, and Greek citizens themselves ...
Title:
Today`s FOMC Meeting Minutes outline
Throughout the FOMC minutes meeting, participants have attested once again that the overall recovery tempo of the superpower is on a right gradual and constant pace with better labor conditions along with a stable enhanced demand while that prices pressures remain subdued, yet once more rates will stay exceptionally low at least through late 2014 to support the ongoing recovery.
In fact the world`s leading economy is gaining strength steadily, which was witnessed clearly since last year second half and mainly fourth quarter till this day and accordingly the FOMC members attested and proclaimed once again that the economy is "expanding moderately" with overall sectors activities gaining momentum including the labor market.
However the FOMC members confirmed today that in case that some ...
Title:
Speculation On Grexit Continues To Hammer The Euro
Sunrise Market Commentary
- Fixed Income: Global core bonds profit from euro debt crisis
- Concerns about Greece and Spain underpinned the ongoing rally of global core bonds. The German 10-year yield fell below 1.50%. Intra-EMU yield spreads versus Germany widened substantially. Today, the eco calendar is enticing. If no euro debt crisis news acts as a circuit breaker, the eco data may for once drive the price action.
- Currencies: Speculation on Grexit continues to hammer the euro.
- At the start of the new trading week, the Greek crisis remained the key factor for currency trading. With no visibility on the outcome of the EMU crisis, the easiest way for the euro is south. EUR/USD set a new correction low. EUR/GBP dropped below the 0.8000. This morning, strong German ...
Title:
Market Drivers - Currencies : 09/05/2012
Today's Comment
Yesterday the gold price was 'tested' and breached initially an important long-term trend level at 1620. Today's chart shows that gold and EURUSD have shown a high degree of positive correlation for a long period of time. What fuels what in the long term (causality) is debatable, but we have checked the past six significant tops/bottoms (over the past year we see the same trend). In five out of six instances (one observation is debatable), gold topped/bottomed 1 14 days before EURUSD (average 7 days). Without offering a view on the underlying cause, this means that if gold continues to fall from here, EURUSD will continue to fall. If we see that gold forms a bottom, investors should (if the 'theory' holds true) close their EURUSD positions. Incidentally, the broad ...
Title:
EUR/USD Testing Key Support
Sunrise Market Commentary
- Fixed Income: new contract highs
- London-traders returned and the market seemed to react with a lag to this weekend's election results. In a risk off session, both the German Bund Future and the US Note Future set new contract highs, respectively at 142.62 and 133-04.
- Currencies EUR/USD testing key support
- On Tuesday, sentiment on the euro remained fragile even as there was little news from the political scene in France or Greece. EUR/USD is again testing the key 1.2974/55 support area. A break below this level would be highly significant from a technical point of view.
The Sunrise Headlines
- US Equities dropped sharply lower yesterday, but reversed most of their losses in the final hours of trading. The S&P ended the session 0.43% lower. ...
Title:
Euro Limits The Damage After French And Greek Elections
Sunrise Market Commentary
- Fixed Income: Little support from elections
- Global core bonds set new contract highs at the start of the European session after the French and Greek elections. However, the negative sentiment surprisingly didn't push through and many markets bounced off key levels.
- Currencies: euro limits the damage after French and Greek elections.
- On Monday, the euro opened sharply lower after the election results in Greece and Spain. However, the price moves developed in an orderly way. Even more, the single currency showed remarkable resilience and reversed part of the early losses. The test of the 1.2974 support was rejected. The EUR/GBP 0.8068 support remains under pressure.
The Sunrise Headlines
- US Equities hovered sideways on Monday, halting a ...
Title:
Euro Testing Key Support Levels
Sunrise Market Commentary
- Fixed Income Weak US payrolls push core bonds higher again
- On Friday, it was weaker US payrolls that helped core bonds eke out more gains, but non-core bonds held up quite well. Spreads even narrowed in the intra-EMU bond markets. We fear that this won't be the case today, as French and Greek election results inject uncertainty into markets.
- Currencies: Euro testing key support levels
- On Friday, trading in the major euro cross rate was rather calm, but the pressure remained to the downside. The US payrolls were unable to change this pattern. This morning, EUR/USD is testing the key 1.2974 support while EUR/GBP is trading south of the 0.8068 level. A sustained break below these levels would raise a red alert for the single currency.
The ...
Title:
SunBirdFX Daily Market Analysis : 05/07/2012
www.sunbirdfx.com
Wall Street closed the trading week with sharp declines on the background of disappointing Non-farm payroll change, as we estimated after the release of the prior data by the ADP last Wednesday. About 80% of the large 500 companies reported better than expected results for the first quarter of 2012, but the negative atmosphere took over Wall Street on the second part of last week. The investors also ignored the improving unemployment rate that went down from 8.2% to 8.1%.
On the technical aspect, things look less dramatic for the US indices. Dow Jones reached new highs during last week as NASDAQ and S&P 500 did not make any significant change during the recent four weeks, in spite of the high volatility. We mentioned that the S&P 500 had to successfully break-through ...
|