ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Dollar On Increasing GrowthTitle:
Spain downgraded two notches by S&P
Forex Morning Briefing : Spain downgraded two notches by S&P
What’s new:
Asia: BoJ extends asset purchase programme, sending the JPY lower initially, but risk aversion from Spain took the currency higher.
Europe: Spain’s debt downgraded to BBB+ by S&P. EUR on the offer.
US: Sluggish jobless claims increased pressure for QE, but was offset by decent housing figures.
Rates in Asia and Indices:
EUR/USD 1.316 1.3223 -0.34 %
USD/CHF 0.9086 0.913 -0.33 %
GBP/USD 1.6154 1.6191 -0.12 %
USD/JPY 80.49 81.45 0.17 %
EUR/CHF 1.20132 1.20183 0.01 %
EUR/JPY 106.28 107.48 0.53 %
Dow Jones 13075.96 ...
Title:
YouTradeFX Daily Market Analysis : 27/04/2012
Fundamental News
Today’s highlights:
· BoJ Press Conference (JAP, Tentative)
· BoC Gov Carney Speaks (CAD, 13:25 GMT)
· GDP (QoQ) + Employment Cost Index (QoQ) (U.S, 13:30 GMT)
· Michigan Consumer Sentiment(U.S, 14:55 GMT)
According to the Labor Department, new unemployment claims for the week ended April 21st came in at a seasonally adjusted level of 388,000. The figure for the latest week marks a marginal drop from the previous week's revised level of 389,000. While, NAR said its pending home sales index rose 4.1 percent to 101.4 in March.
Retail sales in Japan were up 10.3 percent on year in March, the Ministry of Economy, Trade and Industry said on Friday, standing at 12.432 trillion yen. While, Japan’s industrial production rose less than forecast ...
Title:
BOJ leaves its rates steady while it expands financial stimuli to support recovery
Bank of Japan is still working to introduce more stimuli to support the economic recovery in Japan as global economic cycle faces many obstacles during this period. BOJ unexpectedly boosted its bond purchases by 10 trillion yen and set an inflation goal of 1% in February, helping weaken the yen to an 11-month low against the dollar.
Bank of Japan started to ease the imposed monetary policies after the nation's exports dropped and the economy shrank by more than economists' forecast in the fourth quarter.
The BoJ's Governor Masaaki Shirakawa’s and his policy board unexpectedly expanded their asset-purchase program to 40 trillion yen, yet the BoJ maintained the overnight lending rate steady between zero and 0.1 percent, also the bank extended a maturity of bonds purchase to three years ...
Title:
Oil steady above $119; Fed comments support
(Reuters) - Oil inched above $119 a barrel on Thursday, as optimism over a recovery in the U.S. economy offset the impact of rising global supplies.
The U.S. Federal Reserve said on Wednesday it would support growth in the world's top oil consumer if necessary as it left the door open for another round of monetary easing, raising hopes of higher energy demand.
"Although yesterday's Fed comments put QE3 on ice for some time, it helped yesterday and it is helping today," Commerzbank's head of commodity research Eugen Weinberg said.
"This is even despite the somewhat negative environment given the strong increase in inventories yesterday and possibly the lower geopolitical premium on ongoing talks with Iran."
Brent crude gained 12 cents to $119.24 a barrel by 0817 GMT after settling up 55 ...
Title:
Dukascopy Morning Forex Overview : 26/04/2012
Fundamental Analysis
EUR
"There’s a bit of risk back on after some positive company numbers helped stocks and improved the tone of the markets"
- Eric Wand, a fixed-income strategist at Lloyds Banking Group Plc
Demand for Spanish and Italian debt rose, pushing Spanish and Italian bonds higher, as investors turned to higher-yielding assets after companies from Apple to Swedbank reported better than forecast earnings.
USD
"The committee expects economic growth to remain moderate over coming quarters and then to pick up gradually"
- Federal Open Market Committee
U.S. durable goods orders tumbled below forecast in March, a sign the manufacturing sector may be losing momentum. Bookings for long lasting goods dropped 4.2 percent, said the Commerce Department on Wednesday.
GBP
" could be ...
Title:
Dukascopy Morning Forex Overview : 25/04/2012
Fundamental Analysis
EUR
"Equities are stronger than in the fall, as central banks have moved to support the market with liquidity and removing the structural risks to banks"
- Hans Peterson, the chief investment officer of SEB Private Bank
Industrial new orders in the euro zone declined by more than forecast in February, Eurostat data showed on Tuesday. Orders decreased by a seasonally adjusted 1.3 per cent, after declining 2.9 per cent in January.
USD
"Overall, consumers are more upbeat about the state of the economy, but they remain cautiously optimistic"
- Lynn Franco, director of the Conference Board Consumer Research Center
U.S. consumer confidence declined in April as consumers became slightly less optimistic on the outlook of the country’s economy, the Conference Board Inc. ...
Title:
Dukascopy Morning Forex Overview : 23/04/2012
Fundamental Analysis
EUR
"Ifo index paints a too positive picture of the growth prospects for the German economy"
- Carsten Brzeski, senior economist at ING Group
German business confidence unexpectedly improved in April, a sign the euro zone’s largest economy is weathering Europe’s debt crisis. Ifo business climate index, which is based on a survey of 7,000 businesses, rose to 109.9 points from 109.8 points in March.
USD
"A strong Germany helps the euro massively, and helps other assets too"
- Neil Jones, head of European hedge-fund sales at Mizuho Corporate Bank Ltd.
U.S. stocks closed mixed on Friday while German investor confidence unexpectedly improved and blue chip companies from General Electrics to Microsoft reported better than expected earnings.
GBP
"While the month of March ...
Title:
Bernanke Holds The Dollar In His Hands
Currency weakness remains firmly in fashion as policy-makers continue to adjust to the perverse post-crash environment. Although notionally committed to inflation targets, central banks increasingly have effectively been mandated to seek weaker currencies rather than price stability. The Federal Reserve is likely to keep the quantitative easing carrot within peripheral vision which will also act as an important constraint to dollar gains even with a slightly more confident statement. The Fed will stay on guard and be ready to stamp down on any signs of excessive dollar bullishness. The global policy risks still make buying US currency dips remains the best strategy, but patience will certainly be required.
The Bank of Japan and Finance Ministry will act to block any appreciation of the ...
Title:
UK Q1 GDP to Put the Brakes on More QE
The Week Ahead
Highlights
UK Q1 GDP to put the brakes on more QE
French political risk comes to a head
Italy and Spain turn attention to fiscal targets
BOJ to back up rhetoric with action
FOMC still in wait-and-see mode
Market Moves
UK Q1 GDP to put the brakes on more QE
The major data release in the UK this week will be the preliminary Q1 GDP reading. There is considerable uncertainty around this figure due to some strong data in the services sector, especially retail sales, balanced by some disappointments in the manufacturing and construction sectors. Retail sales for March rose 1.5%, more than the 0.4% expected. This was mostly due to the effects of good weather boosting demand for clothes, footwear and gardening equipment. This helped to reverse some of the ...
|