ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Doubts Over Whether EuropeanTitle:
EUR/USD Cedes The 1.2624 Support
Sunrise Market Commentary
- Fixed Income: Risk off pushes German bond yields to new lows
- Risk off sentiment pushed core bonds higher and non-core bond yield spreads re-widened substantially. The Summit didn't bring new information, but another hole found in Spain's regions' budgets might get attention today.
- Currencies EUR/USD cedes the 1.2624 support
- On Wednesday, the EMU debt crisis was again omnipresent. Markets feared that the EU leaders wouldn't be able to take decisive action to address the debt crisis. Extreme risk aversion pushed EUR/USD to a new low for 2012. The losses of EUR/GBP were more contained, as poor UK retail sales and rather soft BoE minutes kept the door open for more policy stimulation.
The Sunrise Headlines
- In the final hour of trading, US ...
Title:
Gold sinks over 2 percent; close to technical support
(Reuters) - Gold fell more than 2 percent on Wednesday as a wave of selling triggered by better-than-expected home sales and heightened by despair surrounding the euro zone sent prices toward key technical support levels and wiped out year-to-date gains.
Spot prices dropped as low as $1,534.25 an ounce, down 2.15 percent, by 12:08 p.m. EDT (1608 GMT), flirting with a bear market with a drop of 20 percent from September record highs.
Market players are watching whether gold can hold key technical support at $1,525 an ounce.
The sell-off took bullion back to December lows hit in last week's rampant selling and reignited concerns that a recovery in recent days was a "dead-cat bounce", slang used to describe a small, temporary rally that follows a significant decline.
U.S. gold futures for ...
Title:
Speculation On Grexit Continues To Hammer The Euro
Sunrise Market Commentary
- Fixed Income: Global core bonds profit from euro debt crisis
- Concerns about Greece and Spain underpinned the ongoing rally of global core bonds. The German 10-year yield fell below 1.50%. Intra-EMU yield spreads versus Germany widened substantially. Today, the eco calendar is enticing. If no euro debt crisis news acts as a circuit breaker, the eco data may for once drive the price action.
- Currencies: Speculation on Grexit continues to hammer the euro.
- At the start of the new trading week, the Greek crisis remained the key factor for currency trading. With no visibility on the outcome of the EMU crisis, the easiest way for the euro is south. EUR/USD set a new correction low. EUR/GBP dropped below the 0.8000. This morning, strong German ...
Title:
Euro snaps 8-session drop, up from 3-1/2-month low
The euro gained against the dollar on Thursday, snapping eight straight sessions of declines and bouncing from its recent 3-1/2-month low as stress in Spanish debt markets eased and Greece secured funds to repay its bondholders.
The tempering of the dual threats of a Greek insolvency and the country's potential 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, ...
Title:
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:
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 teeters near multi-month lows
(Reuters) - The euro steadied near a 3 1/2-month low against the dollar on Thursday as stress in Spanish debt markets abated slightly and after Greece secured funds needed for bond repayments, tempering the threat of a Greek insolvency and possible euro exit.
However Greece's future in the euro zone remains in question, with another round of elections foreseen and doubts about whether the country will adhere to austerity measures needed to secure further emergency funding.
Greece averted an imminent funding crisis after the board of the European Financial Stability Facility agreed to release 4.2 billion euros of a scheduled payment. However, impatient governments withheld part of the latest tranche of rescue funds to be paid on Thursday.
Ten-year Spanish government bond yields fell ...
Title:
Dukascopy Morning Forex Overview : 10/05/2012
Fundamental Analysis
EUR
"The real concern isn’t about Greece, it’s about the euro and whether it breaks up -- that is key."
- Mark Tinker, a fund manager at AXA Framlington Investment EUR Management
European stocks declined on Wednesday as investors awaited resolution of Greek coalition talks and yields on Spanish 10-year bonds rose above 6 per cent.
USD
"Certainly as a result of the elections in Greece, the odds of a default and an exit from the euro have increased."
- James Dunigan, chief investment officer for PNC Wealth Management
U.S. wholesale inventories rose in March at a slowest pace since November, Commerce Department data showed on Wednesday.
GBP
"Consumers, struggling to balance their household budgets, remain reluctant to spend..."
- Stephen Robertson, BRC director ...
Title:
Euro Extends Its Trip South As Speculation On Greek Exit Is Growing
Sunrise Market Commentary
- Fixed Income: Core bonds higher at first, but gave back gains in US session
- Fears about Greece and Spain continued to boost core bonds, but a rumours, later confirmed, that the EFSF would today disburse a tranche of the Greek bail-out loan triggered some correction and erased part of the German bond gains and almost all of the US ones. Today, the BoE decision on QE may affect overall bond markets.
- Currencies: euro extends its trip South as speculation on Greek exit is growing
- On Wednesday, trading on global markets was still dominated by negative headlines on Europe. This weighed on the euro. After all, the decline of EUR/USD developed in an orderly way even as several EMU policymakers pondered the option of a Greek exit. Today, the BoE holds ...
|