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Eur/jpyTitle:
Euro Declines For The Second Consecutive Day On Risk Aversion
High yielding currencies for the second consecutive day continue the downside movements as Greek politicians are still unable to find common grounds regarding the formation of the new coalition government, with new jitters pressuring the euro as more and more Greeks are calling for ending the bailout deal with the European Union as they reject further austerity.
Alexis Tsipras, the leader of Greece`s Syriza Party, will join his peers in a meeting today, before creating the coalition government; however, tension remains evident, while fears spread sharply as the leader is expected to demand Samaras and Venizelos, the former Greek finance minister, to revoke their pledges to implement the austerity measures associated with the second bailout deal.
High yielding currencies are weak against ...
Title:
Dukascopy Morning Forex Overview : 09/05/2012
Fundamental Analysis
EUR
"The debt crisis damps demand for German products in Europe but Russia, China, India, Brazil and South Africa should generally be able to compensate declining sales."
- Gerd Hassel, an economist at BHF Bank AG
German industrial production unexpectedly soared in March, adding to signs the euro zone’s largest economy is weathering debt crisis. Production jumped 2.8 per cent from February, when it declined 0.2 per cent, said the Economy Ministry on Tuesday.
USD
"People are preparing for a shock that may or may not occur."
- Michael Holland, chairman and founder of New York-based Holland & Co.
U.S. stocks fell on Tuesday as Greece’s bailout pledge came into question.
GBP
"The health of the housing market is a reverberation of consumer confidence and credit ...
Title:
Greece retains focus; Aussie continues to weaken
Forex Morning Briefing : Greece retains focus; Aussie continues to weaken
What’s new:
Asia: Asian and US equities remain in negative territory
Greece: Still unable to form a coalition government
Spain: Government expected to unveil banks’ plans on Friday
Forex: AUD/USD approaching parity, fresh 2012 lows
Forex: JPY still attracting support as carry trades unwind
Rates in Asia and Indices:
EUR/USD 1.2965 1.3008 -0.15 %
USD/CHF 0.9234 0.9263 -0.15 %
GBP/USD 1.6129 1.6163 -0.13 %
USD/JPY 79.72 79.94 0.10 %
EUR/CHF 1.2010 1.2013 0.00 %
EUR/JPY 103.4 103.94 0.27 %
Dow Jones 12810.39 13000.73 -0.58 %
Nasdaq 2587.53 ...
Title:
Slow News Day May Lead to Further Euro Losses
The euro remained relatively unchanged vs. its main rivals throughout the European session yesterday, as political uncertainty in the euro-zone kept the currency near its recent lows. After dropping as low as 1.3000 during early morning trading, the EUR/USD spent most of the day trading around 1.3010. Turning to today, a slow news day may lead to low liquidity in the marketplace. Traders will want to note that a low liquidity environment can often lead to unexpected price shifts for seemingly no reason. Given the euro's recent bearish trend, the possibility for further downward movement for the common currency exists.
Economic News
USD - Dollar Remains Bearish vs. JPY
The US dollar remained below the psychologically significant 80.00 level vs. the Japanese yen throughout yesterday's ...
Title:
Forex Technical Analysis : 05/09/2012
- Forex Technical Analysis : 05/09/2012 -
(Timeframes: 30 minutes)
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Title:
Technical analysis of the EUR/JPY pair on May 9th, 2012
Commentary of the EUR/JPY pair :
The pair EUR/JPY has validated yesterday a return below 104, comforting our bearish feeling.
The pair is currently testing the next support at 103.50.
All indicators are bearish.
The pair is still moving below a bearish slant (purple line).
We continue to advise short positions as far as 104.50 is resistance.
The breakout of 103.50 will give a new sell signal and open the way towards 103.
In case of return above 104.50, we will wait the breakout of 105 to advise long positions.
See the previous analysis of the EUR/JPY pair of May 8th, 2012
EUR/JPY Analysis
Title:
Heavy Euro Selling Pressure As Greece Standoff Continues
U.S. Dollar Trading (USD) the mood soured overnight in the US session and into Wednesday’s Asian session as rhetoric of the Greece far left politicians suggested the recent bailouts may be torn up and Greece forced to exit the Eurozone. The EUR/USD has broken below 1.3000 once again and Gold is falling heavily as USD and cash become king. Looking ahead, FOMC Member Pianalto.
The Euro (EUR) focus has swung back to the Europe and the Greece elections continuing to have negative effects on the market. The Greece political stalemate is unlikely to end shortly and the uncertainty will likely lead to more selling. Major support is seen at 1.2950 and we are poised to test this level this session. The Sterling (GBP) The GBP/USD was sold down to the 1.6125 on the risk aversion but EUR/GBP selling ...
Title:
Euro Sinks Under Political Weight
Euro is sinking right now, forced down by the political situation in the eurozone. Concerns about what’s next for the 17-nation currency zone are dragging down the euro as Forex traders look for safety, and choosing the US dollar and the Japanese yen instead.
Euro is struggling as the political situation in the eurozone deteriorates. For the most part, the focus is on Greece. The country has been unable to form a new government, and there are already rumblings of another election — and the possibility is being raised that Greece will withdraw from the currency bloc. Even if a government is eventually formed, the worry is that the new leaders won’t adhere to the austerity measures agreed to for the Greek bailout.
But it’s not just Greece that is struggling. The new French President, ...
Title:
Risk-Aversion Sends the Euro and Sterling South
With the start of the second session this week, tension remains evident in the market as the Greek talks continues for the second day, where so far Greek political leaders are unable to form a government, following the failure of Antonis Samaras, the thing that raised fears regarding the Greek future and existence in the Monetary Union as well, sending high yielding currencies led by the euro and sterling pound south.
The sentiment continues to be negative in the market as Greeks are split over the bailout deal with the European Union and the existence in the euro-area, where major parties in Greece lost significant support as those parties signed the bailout deal with the European Union, which in result mean more austerity and cuts for the Greek nation.
Amid the current political ...
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