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BetweenTitle:
Oil rises as Obama urges compromise to avoid default
(Reuters) - Oil prices rose on Tuesday as President Barack Obama urged Republican and Democratic leaders to reach a fair compromise on raising the United States's debt ceiling to avoid the first default in the country's history.
Obama warned that failure to act could cost jobs and do serious damage to the world's biggest economy. If the debt ceiling is not raised, the U.S. would not be able to pay bills that include monthly Social Security checks, and that may lead to a drop in energy consumption.
Brent crude rose 14 cents to $118.08 a barrel by 0500 GMT, after sliding as low as $117.32. U.S. oil was 38 cents higher at $99.58, after earlier dipping to $98.80.
Still, analysts expect the U.S. to reach an agreement soon and prices to recover, driven by expectations of steady demand amid ...
Title:
Analysis: Bulging cash balances set up sovereign funds for deals
(Reuters) - Global sovereign wealth funds are set to hasten investing the billions of dollars of cash holdings they have built up in a rebound from the 2008 financial crisis that has lifted their combined assets to a record.
But unlike three years ago, when they rode to the rescue of Wall Street titans such as Merrill Lynch and Citigroup, the investments this time around are seen mostly of a smaller nature and into the faster-growing sectors such as resources and infrastructure.
"They may not be the headline-grabbing investments that we are used to seeing from the funds," said Rachel Zeimba, London-based senior research analyst at Roubini Global Economics.
The funds have learnt bitter lessons from their plunge into the financial sector in the crisis, which wiped out billions from their ...
Title:
SunBirdFX Daily Market Analysis : 26/07/2011
www.sunbirdfx.com
US stock markets closed yesterday in the red territory on concerns regarding the disagreement between the democrats and republicans. There is just a week before the US will have to declare bankruptcy, and the clock is ticking for the Americans. The ranking agencies are already warming up to massive downgrades, but at this point most of the chances are for a last-minute solution.
The indices fell almost 1% in the beginning of the day, but investors saw it as an opportunity for loading their portfolios and NASDAQ broke the annual pick. It was possible to use the gap system that we mention every time that the indices are opening in large gaps. Likewise, there is an open gap from above in the S&P 500 at 1353 points, which might pull the stock markets up.
EUR/USD
The break- ...
Title:
Dukascopy Morning Forex Overview : 26/07/2011
Previous session overview
The dollar fell sharply in volatile Asian trade Tuesday after U.S. President Barack Obama made clear in a nationwide address there was no deal in sight to end the debt stalemate that threatens to bring an unprecedented ratings downgrade.
The fall was temporarily arrested by a quick spike of some 70 pips against the yen, but traders quickly ruled out any intervention by Japan to arrest the yen's rise, and the dollar resumed its downward trend.
Speaking of the latest Republican proposal put forward by House Speaker John Boehner, which would raise the debt ceiling in a two-step process, "it doesn't solve the problem," Obama said.
The euro was the big beneficiary from the dollar selloff, rising to USD1.4501. That was the highest since July 5 and up from USD1. ...
Title:
US Debt Ceiling debate on focus
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
A pair of speeches by US President Obama and House Speaker Boehner showed that there has been no significant convergence of opinion between both camps in the debt ceiling debate. This jolted FX investors into concluding that the risk of a US downgrade and possible default was larger than first supposed, and the dollar sold off across the board. EURUSD traded 1.4358-1.4501 and USDJPY 77.90-78.70. USDCHF made new lows; NZDUSD made new highs. We remain optimistic that a deal will be done but it will probably fall short of what the market is looking for and may not appease the ratings agencies. We expect negotiations to continue into the 11th hour which may suggest further volatility in the coming days, but investors should note that this may ...
Title:
USD down to fresh lows versus its major rivals
Forex Morning Briefing: USD down to fresh lows versus its major rivals
What’s new:
Forex: Dollar falls to fresh lows versus euro, swissie, yen, and kiwi as US debt talks stall
Global Markets: Asian shares higher despite concern over a possible default of US
Forex: Dollar jumps a full yen momentarily but no talk of intervention by Japanese authorities
United States: Speeches by President Obama and House Speaker Boehner show divergence between sides
Japan: Finance Minister Noda reiterates that FX moves are still “one-sided” and that he is watching currency markets closely
Rates in Asia and Indices:
EUR/USD: 1.4510 - 1.4358
USD/CHF: 0.8070 – 0.8003
GBP/USD: 1.6368 - 1.6266
EUR/JPY: 113.55 – 112.26
USD/JPY: 78.60 – 77.90
DowJones: 12'592.80 -0.70%
NASDAQ: 2'842.80 -0.56%
S & P 500: 1'337. ...
Title:
Technical analysis of the EUR/CHF pair on July 26th, 2011
Commentary of the EUR/CHF pair:
The pair EUR/CHF faked yesterday the breakout of 1.16.
The pair is now back into its range 1.16/1.17 and is moving below its bearish slant.
All indicators are bearish.
We stay neutral on the pair between 1.16 and 1.17.
We advise to wait an exit of this range to take position:
- Long if 1.17 is broken. The breakout of 1.18 will give a new buy signal
- Short if 1.16 is broken. The breakout of 1.15 will give a new sell signal.
See the previous analysis of the EUR/CHF pair of July 25th, 2011
Title:
Technical analysis of the GBP/USD pair on July 26th, 2011
Commentary of the GBP/USD pair :
The pair GBP/USD continues its bullish movement towards the resistance at 1.64.
We maintain to trade only long positions as far as 1.6250 is support.
The breakout of 1.64 will give a new buy signal and open the way towards 1.6450.
However, if 1.6250 is broken, we will be neutral between this level and 1.6161.
See the previous analysis of the GBP/USD pair of July 25th, 2011
Title:
Technical analysis of the USD/JPY pair on July 26th, 2011
Commentary of the USD/JPY pair :
The pair USD/JPY continues its bearish movement and is currently testing the support at 78.
We maintain to trade only short positions as far as 78.66 is resistance.
The breakout of 78 will give a new sell signal and open the way towards 77.50.
However, if 78.66 is broken, we will be neutral between this level and 79.25.
See the previous analysis of the USD/JPY pair of July 23th,, 2011
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