ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Build On A European UnionTitle:
Brent trades near 4-month low on Greece, possible oil release
Brent crude slipped to a near four-month low on Thursday as investors shunned riskier assets following turmoil in Greece and the euro zone, while oil supplies could rise as G8 countries may tap emergency reserves ahead of sanctions on Iran in July.
Greece faces a possible exit from the euro zone as it failed to form a government to implement austerity measures in exchange for rescue funds from the common currency region. Investors feared Greece's exit could drag down other EU economies.
Brent crude for July was down 42 cents at $109.33 by 0453 GMT, after slipping to $109.01, the lowest intraday price since January 25. U.S. crude gained for the first time in five sessions, rising 53 cents to $93.34.
"The euro zone crisis can only go one way, that is, Greece leaving the EU on a temporary ...
Title:
Gold pares losses after bear market test, Greece focus
Gold sank to a 2012 low on Wednesday before paring losses in choppy trade, as traders were torn between hope that France and Germany would work together to keep the Euro zone intact and new signs of stress in the Greek banking sector.
Bullion briefly crossed into bear market territory, down 20 percent from its record last September, as intensifying fears a Greek exit from the euro zone would worsen the debt crisis gripped financial markets earlier in the day.
Prices later recouped most of their losses following a meeting between new French President Francois Hollande and German Chancellor Angela Merkel at which they pledged to forge a joint approach for an EU summit next month. That eased concerns of a spat that could worsen the euro zone crisis.
During the U.S. session, gold prices ...
Title:
Oil down as equities dip on Greek, euro zone woes
Crude oil futures tumbled on Wednesday, coming under pressure with U.S. equities, as banking troubles in Greece further highlighted the euro zone debt crisis, sparking risk aversion across markets.
The European Central Bank confirmed a Reuters report that it has stopped providing refinancing to some Greek banks as they are severely undercapitalized, keeping oil and other commodity prices pinned down.
The ECB move had erased an uptick in oil prices in morning trading after U.S. data showed that domestic stockpiles rose much less than what an industry group reported late on Tuesday.
Title:
YouTradeFX Weekly Market Analysis : 05/16/2012
Fundamental News
Today’s highlights:
Claimant Count Change (GB, 09:30 GMT)
Core CPI (YoY) (EUR, 10:00 GMT)
German 10-Year Bund Auction (GER, 10:30 GMT)
BoE Gov King Speaks + BoE Inflation Report (GB, 10:30 GMT)
Manufacturing Sales (MoM) + Building Permits + Housing Starts (U.S., 13:30 GMT)
Industrial Production (MoM) (U.S., 14:15 GMT)
ECB President Draghi Speaks (EUR, 15:00 GMT)
FOMC Meeting Minutes (U.S., 19:00 GMT)
The Department of Labor revealed that consumer prices in U.S were flat in April compared to the previous month. While the Commerce Department said that U.S retail sales edged up by 0.1 percent in April following a revised 0.7 percent increase in March and the business inventories rose by 0.3 percent in March following a 0.6 percent increase ...
Title:
YouTradeFX Weekly Market Analysis : 14/05/2012
Consumer sentiment in the U.S. rose to 77.8 in May from the final April reading of 76.4, according to a report released by Reuters and the University of Michigan on Friday. While, the Labor Department said on Friday that its producer price index fell by 0.2 percent in April. According to Bloomberg news, Sales at U.S. retailers probably slowed in April as the weather turned more seasonable and consumers took a breather following a pre-Easter holiday buying spree, economists said before a report this week. The projected 0.2 percent gain in purchases would follow a 0.8 percent advance in March, according to the median forecast of 68 economists surveyed by Bloomberg News ahead of Commerce Department figures on May 15. Events in the U.S, likely to affect the markets this week are: Monday; a ...
Title:
Brent drops below $112 as Greece clouds demand outlook
Brent crude slipped below $112 on Monday on a worsening oil demand outlook after talks to form a new government in Greece failed, and as signs of a slowing Chinese economy outweighed the country's latest move to ease monetary conditions.
Investor caution, evident from the weakness in other riskier assets as well, was heightened as Greece's radical leftist leader spurned an invitation from the president for a final round of coalition talks on Monday, pushing Athens to the brink of fresh polls.
This added to the already mounting worries of a global economic slowdown triggered by last week's lackluster industrial output data from China, the world's second-largest economy and energy consumer.
Brent crude slipped 86 cents to $111.40 a barrel by 03:26 a.m. EDT (0726 GMT), stretching its ...
Title:
Brent slips towards $111 on euro zone worries
Brent crude slipped towards $111 on Monday, continuing to drop for a third straight session, after talks to form a new government in Greece failed, deepening the euro zone crisis and cutting fuel demand further.
Investors were cautious as a repeat Greek election will be needed if politicians cannot reach a compromise, pushing the debt-laden country closer to bankruptcy and likely driving oil prices southwards.
Brent crude had fallen 46 cents to $111.80 a barrel by 23:00 EDT (0300 GMT) after settling at $112.26 on Friday, its second straight weekly loss.
U.S. crude dropped 74 cents to $95.39, after earlier declining to a low of $95.17.
"The path of least resistance for oil is down, on sentiment on the euro zone and weak data from China on Friday," said Ben Le Brun, market analyst at ...
Title:
Canada's Economy Turns the Hiring Machine Back on
Canada's Economy Turns the Hiring Machine Back on
-58,200 jobs created in April 2012, beating the consensus forecast for a 10,000 increase.
- Unemployment rate inched up to 7.3% from 7.2% in March as the labour force grew by 72,500.
-April marked the second monthly increase in employment and boosted the tally of job gains so far this year to 140,000 or an average monthly gain of 35,000 jobs. This result beat the 29,000 average monthly increase recorded in early 2011 and far exceeds the 8,000 per month pace recorded in the next eight months of that year. This stepped up pace of job creation is more consistent with an economy that grew at an above-potential 2.5% rate last year and is on track to grow at a 1.8% pace in the first quarter of 2012. The weaker performance in first- ...
Title:
Focus on ECB’s Press Conference
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
WORLD
Expectations are building that today’s ECB press conference could see the central bank turn significantly more dovish., with euro negative consequences. Wednesday’s series of worrisome Eurozone data prints would certainly seem to warrant a rhetorical shift. It has also not gone unnoticed that President Draghi endorsed the concept of a “growth compact” in parliamentary testimony last week for the first time. Investors have also remarked on the meeting’s location – in Barcelona for a change – in the expectation that this will somehow concentrate minds on the gravity of the situation facing the periphery, thus provoking a more dovish outcome.
These observations are not without merit, but market speculation of a possible rate cut – either to ...
|