ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Could Trade AgainTitle:
Euro up before EU summit; China data hurts stocks
(Reuters) - The euro climbed for a third day on Thursday after news about a France-Germany accord on Greece's debt crisis relieved some concerns ahead of a European summit, while Asian stocks slipped after China manufacturing data contracted for the first time in a year.
In a potentially dangerous combination for investors, the flash Chinese PMI reading for July also reflected a jump in inflation, causing S&P 500 equity futures to cut gains and knocking mainland Chinese stocks further below a two-month high hit on Monday.
Gold cut its losses and oil reversed early gains after the China data and investors squared up before the euro zone crisis summit in Brussels later in the day.
Pending details of the deal between France and Germany that supposedly included European Central Bank ...
Title:
Dukascopy Morning Forex Overview : 21/07/2011
Previous session overview
The euro rose against the U.S. dollar on reports that Germany and France have agreed on a strategy for designing a new aid program for Greece, which raised hopes that European leaders will announce further rescue measures for the debt-laden country at Thursday's EU summit.
No details were released, but a senior euro-zone official told that the joint proposal will include measures to lower Greece's debt with a bailout about equal to the EUR110 billion it received last year.
The source said that it will also lower the interest rates Greece must pay and will also include participation by the private sector. Agreement to revised terms by private-sector creditors has been seen as a contentious element because it could lead to Greek bonds being declared in partial ...
Title:
Heavy News Day Coincides with Fed Testimony on Dodd-Frank
Today's market should be highly volatile and traders will want to be on guard as they traverse today's investment landscape. The most impactful news of the day will come from both the United States and Europe which will be publishing a series of reports ranging from manufacturing, services, unemployment claims, housing and natural gas inventories. Fed Chairman Bernanke will also be giving testimony about the Dodd-Frank Act which regulates financial markets in the United States.
Economic News
USD - USD Halts Climb as Risk-Taking Surges
The US dollar (USD) has experienced a rather sudden about face this week. The EUR/USD was seen moving back towards 1.4270 yesterday while the GBP/USD inched just above 1.61. Data from the American economy was largely bullish, which may have helped spark ...
Title:
Dollar weakening once again
The greenback saw a decline during the day dear readers against major currencies on optimism following the news that decision-makers in the United States could reach an agreement on the issue of raising the ceiling of public debt.
With reference to the dollar index - which measures the performance of the dollar against six major currencies including the euro and the Japanese yen and the pound sterling - has fallen on the chart for one day, currently trading at levels of 74.89, with the highest level during the day at 75.23 since the opening levels, which amounted to 75.16 and achieving a minimum level of him during the day at 74.77.
While the prices of gold traded at levels 1595.90 U.S. $ per ounce compared with the levels of the opening, which amounted to 1589.37 dollars an ounce, while ...
Title:
The dollar recovers some ground
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
The dollar recovered some ground against the Swiss franc and the yen on a combination of healthy US data, better corporate earnings and potential progress on the debt ceiling. President Obama warmed to the “Gang of Six” deficit reduction plan and senior lawmakers in the Senate intimated that the measure could pass with relative ease. However, the House is a much tougher proposition and it remains to be seen whether comprehensive legislation can be passed and signed into law before the Aug. 2 deadline. In another sign of the potential consequences of failure to achieve a deal, Moody’s warned that five states could also lose their AAA rating due to their reliance on federal revenue. In the Eurozone, Reuters reported that French President ...
Title:
Euro dips before EU summit, buy backs support yen
(Reuters) - The euro eased against the dollar on Wednesday, dogged by lingering doubts over whether a euro zone summit this week will quell investors fears of contagion risks from Greece's sovereign debt crisis.
The euro had gained a bit of reprieve the previous day after Italian and Spanish 10-year government bond yields came off their recent peaks.
But the single currency remained vulnerable, given uncertainties about the details of a new aid package for Greece to be discussed at a summit of euro zone leaders on Thursday, and concerns over whether the meeting will soothe concerns that the debt crisis may engulf Italy and Spain.
German Chancellor Angela Merkel doused expectations for Thursday's emergency euro zone summit, saying the widespread longing for a single, final solution to ...
Title:
Oil surges on debt talks; awaits EIA data
(Reuters) - Oil prices rose more than a dollar on Wednesday, supported by hopes of a U.S. debt deal and tightening crude stocks in the world's largest oil consumer.
Brent crude climbed $1.08 to $118.14 a barrel by 0649 GMT, adding to gains of more than a dollar in the previous session. U.S. crude for August delivery, which expires at the end of trading on Wednesday, jumped $1.09 to $98.59 a barrel.
"Any positive news on either the U.S. debt ceiling and the Greek second bailout will push up the market," said Tony Nunan, a risk manager with Tokyo-based Mitsubishi Corp.
"Traders are just waiting for some confirmation that things are progressing so they can put these two economic issues behind them."
According to technical charts, Brent must rise past $120 to break through its current ...
Title:
Dukascopy Morning Forex Overview : 20/07/2011
Previous session overview
The dollar and the euro held steady against the yen in Asia on Wednesday as progress in the debate over raising the U.S. debt ceiling appeared to reduce the risk of any U.S. credit rating downgrade, supporting risk sentiment.
Solid U.S. housing figures and some strong earnings results Tuesday also continued to support riskier assets, market participants said.
U.S. President Barack Obama on Tuesday backed a USD3.7 trillion deficit-reduction plan as "a very significant step" after it gained fresh momentum from a bipartisan group in the Senate. Obama cited general progress in the debt-ceiling and deficit-reduction talks and asked Congress to begin crafting a final plan Wednesday.
The dollar was at JPY79.14 as of 0450 GMT from JPY79.17 late Tuesday in New York, ...
Title:
Optimism on US debt ceiling lifts risk appetite
Forex Morning Briefing: Optimism on US debt ceiling lifts risk appetite
What’s new:
Forex: Euro inches higher as Italian and Spanish bond yields fall
Global Markets: Optimism over US debt lifts sentiment; Asian shares up
United States: Dow Jones posts largest daily gain in 2011
Canada: BoC hold key rate at 1%, hints it will resume tightening
Japan: Finance Minister Noda says government will take decisive steps to curb excessive moves
Euro zone: Sarkozy and Merkel meet today to prepare for tomorrow’s emergency summit
Rates in Asia and Indices:
EUR/USD: 1.4177 - 1.4134
USD/CHF: 0.8255 – 0.8234
GBP/USD: 1.6142 - 1.6096
EUR/JPY: 112.36 – 111.70
USD/JPY: 79.32 – 78.98
DowJones: 12'587.42 +1.63%
NASDAQ: 2'826.52 +2.22%
S & P 500: 1'326.73 +1.63%
Nikkei: 10’005.90 +1.17%
Shanghai: 2’785.71 -0. ...
|