ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
DataTitle:
FOMC Minutes Meeting outline
Throughout the FOMC minutes meeting, participants have attested as reviewed at the August 9 meeting that the overall economic conditions of the world's largest economy have slowed within this recent period; the overall recovery tempo has lost pace indicated that the pace of the economic recovery and remained slow while that labor market conditions continued to be weak while that prices pressures remain subdued and deflation risks eased noticeably.
In fact Overall consumer price inflation moderated in recent months while that the revised data for 2008 through 2010 from the Bureau of Economic Analysis indicated clearly that unfortunately the recent recession was deeper than previously thought as it was already stated a week ago by the Fed's Chairman; Ben Bernanke, everyone forecasted that ...
Title:
Oil jumps 2 percent as market eyes storms, economy
(Reuters) - Brent crude rose for a sixth straight session to a four-week high on Tuesday, boosted by concerns about gasoline supplies, optimism about fresh economic stimulus and the threat of fresh storms.
U.S. gasoline futures led the complex higher, up more than 2 percent, boosted in part by concerns about the slow return of some refinery operations following Hurricane Irene.
"The market is getting a little perturbed that refiners are not coming back quickly," said Stephen Schork, editor of The Schork Report in Villanova, Pennsylvania.
Further support for prices came after Chicago Federal Reserve Bank President Charles Evans said he favored strong central bank accommodation for a substantial period of time, as the economy looks to be moving "sideways."
Traders have been closely ...
Title:
Brent hits three-week high, market eyes new storm
(Reuters) - Brent crude rose to the highest level in more than three weeks as markets weighed a sharp drop in consumer confidence against the threat of another tropical storm that formed far from land in the Atlantic.
As Hurricane Irene looked to have caused no long-term damage to oil refineries or infrastructure along the East Coast, the market was cautious ahead of the strengthening Tropical Storm Katia in the Atlantic.
The storm was about 630 miles west-southwest of the southernmost Cape Verde Islands and expected to become a hurricane late on Wednesday or early on Thursday.
It was unclear where it would travel, but very early models showed it missing Hovensa LLC's Hovensa refinery in St. Croix and passing north of Puerto Rico on Sunday morning.
Brent crude traded up $1.56 to $113. ...
Title:
Gold, bonds jump as Wall St down on weak confidence
(Reuters) - Gold surged on Tuesday and Wall Street stocks slid after a sharp slide in U.S. consumer confidence and a weakened euro on Greek bailout woes pushed safe-havens back into play.
U.S. Treasuries prices touched session highs after a report showing U.S. consumer confidence crumbled in August to its lowest level in more than two years as the fallout from political wrangling over a budget deal took its toll.
Chicago Federal Reserve President Charles Evans told CNBC television he was concerned about the economy and favored strong policy accommodation, while industry data showed U.S. single-family home prices dipped in June from May as the market continued to crawl along at depressed levels.
Just a day after a landmark merger between two major Greek banks breathed some confidence ...
Title:
Fed's Evans backs strong policy accommodation
(Reuters) - Chicago Federal Reserve Bank President Charles Evans said on Tuesday he favored strong central bank accommodation for a substantial period of time, as the U.S. economy looks to be moving "sideways."
Evans told CNBC television he favored some of the most aggressive policy actions now being considered to boost the economic recovery and said that the U.S. Federal Reserve needed to clarify its policy intentions to get better results.
"It's difficult to characterize the labor market as anything other than consistent with being in a recession," said Evans, adding the economy is "really going sideways more than anything else.
"I'm in favor of some of the most aggressive policy actions of anyone on the committee," added Evans, a noted policy dove who votes on the Fed's policy- ...
Title:
Trichet's Comments and Political Woes Weigh on EUR
A combination of Trichet's comments, political woes, and an Italian bond auction has all combined to create selling pressure on the EUR. On the charts an evening star pattern is beginning to take shape. Therefore, today's closing price should be closely followed.
Yesterday ECB President Jean-Claude Trichet told the European Parliament that inflation risks for the medium-term are “under study” prior to the ECB's next meeting on September 8th. The comments come on the heels of yesterday's decline of -0.1% in August CPI for Germany could make market participants think twice about the ECBs next rate hike. Expectations have been built in for the ECB's third 25 bp increase in this year with most rate strategists eyeing Q4 after Mario Draghi takes over the helm of the ECB to secure his ...
Title:
Dukascopy Afternoon Forex Overview : 30/08/2011
Fundamental market overview
EUR
European economic confidence dropped the most since end 2008 amid pessimistic growth prospects and weakened markets. Eurozone consumer and executive sentiment slid to 98.3 in August from 103 in July, as reported by European Commission. Additionally, latest reading of Italian retail sales slumped to -0.2%, representing a decline in June. This was a slight decline from +0.2 growth the month before. Until now, German DAX has slid by 43.15 or 0.76% to 5626.92. French DAX has dropped 1.18 or 0.04% to 2152.02.
USD
Experts believe that US housing market could be showing signs of stabilization, as S&P/Case-Shiller index (measuring property values in 20 US cities) fell 4.5 percent from June. Analysts had expected a slightly more significant 4.6 percent decline. ...
Title:
The U.S. dollar benefits from jittery markets
First of all, we should ask our selves about the reason behind the pessimism that dominates the markets! Where investors despite the downbeat data were optimistic, because downbeat data supports a possible fed’s intervention to revive the pace of recovery, in addition, downbeat European data wasn’t taken into consideration previously in light of the stability of the debt crisis, after jitters and tension eased in regards to the crisis. As for the global economy, investors ignored negative data because they trust that central banks would intervene and support the economy and would prevent it from falling into another recession.
The euro zone economic confidence retreated to 98.3 from 103.0, while the business climate indicator decline to 0.07 from 0.44 points.
The mentioned downbeat data ...
Title:
Forecast: Fundamentals Aren’t Favorable for Pound
The Great Britain pound fell during the previous week, but rose at the beginning of this week. Could it be a sign that the sterling is going to reverse its bearish trend? The currently available data shows that such case is unlikely.
Previously, gains of the pound were mainly by investors fleeing from the euro and the problems of the European Union to the UK currency that was perceived to be somewhat safer. But the macroeconomic data continuously proves that Britain’s economy has its own problems and isn’t much better that the economy of the continental Europe.
Growth of the UK economy slowed to 0.2 percent in the second quarter of the year from the first quarter, while growth in the first quarter from the previous three months was 0.5 percent. The figures were even worse on year-over- ...
|