ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Dollar Traded At ItsTitle:
Euro rebounds from multi-month lows
The euro rose against the dollar for the first time in nine sessions on Thursday, bouncing from its recent 3-1/2-month low as stress in Spanish debt markets eased slightly and after Greece secured funds to repay its bondholders.
The tempering of the threat of a Greek insolvency and the country's possible exit from the euro also had the single currency rebounding from a mid-February low against the Japanese yen.
Greece averted an imminent funding crisis after the board of the European Financial Stability Facility agreed to release a scheduled payment. The allocation allows the country to meet near term bond redemptions, helping the euro stabilize after an eight day sell off.
"The EFSF agreement could be viewed as euro-positive, and data in the U.S. and overseas was not negative, but ...
Title:
Global stocks, euro gain after U.S. jobs data
Global stocks rose for the first time in seven sessions on Thursday after relatively encouraging U.S. jobs data and as investor sentiment improved regarding Europe's festering debt crisis.
U.S. and European stocks climbed after data showed U.S. claims for unemployment benefits fell last week, an upbeat sign after April's weak employment growth was seen as a harbinger of a deteriorating U.S. labor market.
Investors also used a recent streak of declines to step into the markets, lifting the euro against the dollar for the first time in nine sessions and the Dow Jones industrial average for the first time in seven sessions.
In a move aimed at ending a four-year banking crisis, the Spanish government effectively took over Bankia SA (BKIA.MC), one of the country's biggest banks, late on ...
Title:
Dukascopy Afternoon Forex Overview : 04/10/2012
Dukascopy Fundamental Analysis
EUR
Greece’s next government may hold a trump card worth more than $510 billion if it heeds voters’ demands to renegotiate its bailout with the European Union.
USD
Treasury prices declined on Thursday, pushing yields up from their lowest levels since February, as news out of Europe eased some near-term uncertainty and reduced demand for the relative safe-haven status of U.S. debt.
GBP
Bank of England officials halted stimulus expansion after seven months of bond purchases as the threat of inflation trumped concerns about an economy that’s succumbed to a double-dip recession. The nine-member Monetary Policy Committee led by Governor Mervyn King today held its quantitative-easing target at 325 billion pounds ($525 billion), ending a second round of stimulus. ...
Title:
Fragile euro hovers near multi-month lows
(Reuters) - The euro stayed close to a 3 1/2-month low against the dollar on Thursday and was expected to suffer further losses as political deadlock in Greece increased the risk of insolvency and a possible euro exit.
The common currency gained a short-term reprive as stress in Spanish debt markets abated slightly and after Greece secured funds needed for bond repayments.
However, it was expected to continue the firm downward path established since Greece's inconclusive elections at the weekend. With another set of elections likely, doubts are growing that Greece will adhere to austerity measures needed to secure further emergency funding.
The euro was up 0.2 percent at $1.2956, but it stayed not far from $1.29115 hit on Wednesday, its lowest since late January. Analysts were skeptical ...
Title:
The Major Currencies Update after the Chinese Data
Most of the major currencies returned to lose their previous gains the US dollar at the beginning of the Asian session, where the Federal currency returned to impose its hegemony on the FOREX markets after the Chinese exports advanced by 4.9% during April compared with the previous reading of 8.9%, while the trade surplus recorded $ 18.4 billion from the previous surplus of 5.35 billion dollars.
The weak Chinese exports negatively affected the performance of the Australian dollar in particular, since China is number one trade partner for Australia. On the other hand, the bearish trend is controlling the markets and all it needed to return to the main trend was the disappointing Chinese exports data.
The AUD/USD pair is currently trading at 1.0072 down from its highest level at 1.0118 ...
Title:
Negative Outlook for Australian Fundamentals Hurt Aussie
The Australian dollar dropped, reaching the lowest level against its US counterpart this year, as Forex market participants anticipate a set of poor fundamental data from the South Pacific country today.
Australian employment is expected to fall by 4,800 in April, following the increase by 44,000 in preceding month. Analysts predict that the unemployment rate will rise from 5.2 percent to 5.3 percent. The trade balance deficit widened from A$46.0 billion in February to A$49.8 billion in March, according to estimates before the government report.
The news from outside of Australia was also bad. Greece is still struggling to form a new government and the political turmoil threatens the stability of the whole eurozone. The MSCI World Index of shares slid 0.8 percent. All in all, the news ...
Title:
World stocks fall, bonds gain on Greek fears
Global shares slid for a sixth day while safe-haven U.S. and German government debt rose on Wednesday as rising fears about the fragility of Spanish banks and a political impasse in Greece worsened fears about the euro zone debt crisis.
The concerns over Europe added to those of U.S. and global economies turning softer. The turmoil put the Dow Jones industrial average on track for a sixth day of losses and nearly wiped out this year's gains for European shares.
Oil prices also slid for a sixth straight session as gold touched a four-month low that all but erased its gains for 2012.
The euro zone debt crisis prompted investors to favor the dollar and seek safety in government debt.
But U.S. and European stocks pared losses while U.S. Treasuries trimmed gains after markets closed in ...
Title:
Copper drops to 3-week low on weak euro, Greek worry
Copper prices fell below $8,000 to a three-week low on Wednesday as the dollar rose and worries about the impact of political turmoil in Greece and the euro zone debt crisis sapped demand for risky assets, raising fears about demand for metals.
Benchmark copper on the London Metal Exchange (LME), untraded at the close, was last bid at $8,053 a metric ton (1.1023 tons) from Tuesday's close of $8,095. It earlier hit its lowest level in three weeks at $7,949.75 a metric ton.
Greece moved closer to a second snap election on Wednesday when the head of the biggest party launched a new attack on radical leftist Alexis Tsipras, saying his plans for a new government would push the country out of the euro zone.
The political uncertainty pushed the euro close to a recent three-month low against ...
Title:
Dukascopy Afternoon Forex Overview : 04/09/2012
Dukascopy Fundamental Analysis
EUR
European stocks dropped for a second day, to the lowest level in almost four months, as investors awaited a resolution to the political impasse in Greece and as Spanish credit risk surged. The Stoxx Europe 600 Index (SXXP) lost 1.1 percent to 247.75 at 2:15 p.m. in London, the lowest since Jan. 13, as the euro weakened for an eighth day. The Stoxx 600 has tumbled 9 percent from this year’s high on March 16, trimming this year’s advance to 1.3 percent.
USD
U.S. stock futures retreated, indicating the Dow Jones Industrial Average will drop for a sixth straight day, as Greece’s political impasse intensified concern about a worsening of the European sovereign-debt crisis.
GBP
U.K. retail sales fell the most in more than a year last month as poor weather ...
|