ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Eur/usd Parity The ParityTitle:
Asia markets fall on Chinese rate hikes; Dollar and Swiss franc slip
Forex Morning Briefing: Asia markets fall on Chinese rate hikes; Dollar and Swiss franc slip
News:
Forex: US Dollar and Swiss franc slide as markets digest Chinese rate hike
Global Markets: Developed equity markets outperforming emerging ones so far this year
China: PBOC raises benchmark borrowing and lending rates by 25bps
United States: Fed President Bernanke speaks today about jobs, the economy and the budget
Rates in Asia and Indices:
EUR/USD: 1.3662 - 1.3612
USD/CHF: 0.9655 – 0.9620
GBP/USD: 1.6084 - 1.6049
EUR/JPY: 112.49 – 112.06
USD/JPY: 82.51 – 82.1925
DowJones: 12'233.15 +0.59%
NASDAQ: 2'797.05 +0.47%
S & P 500: 1'324.57 +0.42%
Nikkei: 10’617.83 -0.17%
Shanghai: 2’774.06
Gold: $ 1'364.50
Crude Oil: $ 87.57
Comments:
A return of appetite for riskier currencies lifted the euro ...
Title:
Rates, Data Support USD Rebound
The Week Ahead
Highlights
* Rates, data support USD rebound
* Aussie stays strong despite floods and cyclone
* The UK economic pendulum swings the other way
* Gold and silver may be unable to stay aloft
* U.S. growth outpacing Canadian growth
* Key data and events to watch next week
Rates, data support USD rebound
US data this past week pointed to a further gain in momentum for the US recovery, with personal spending, Chicago PMI, both ISM surveys, factory orders and chain store sales all rising and beating estimates. Even the heavily distorted January US jobs report held some good news. Buried in the data, and driven by census adjustments, nearly 600K jobs were created in December, papering over the weaker Jan. job gains. US Treasury yields rose on the back of ...
Title:
Egypt Turmoil Sparks Safe Haven Buying
The Week Ahead
Highlights
■Egypt turmoil sparks safe haven buying
■A chilly start for the UK
■Spanish steps to sorting out the Caja mess
■RBA likely to hold on rates, Flood tax spurs debate
■Minimal impact from Japanese sovereign debt downgrade
■Key data and events to watch next week
Egypt turmoil sparks safe haven buying
Political protests in Cairo and elsewhere in Egypt escalated into the end of the week, as the government called in the army to assist police and imposed a nationwide curfew. The protesters are demanding Pres. Mubarak step down and withdraw from elections in the autumn and guarantee free and fair elections. So far, Mubarak has responded in his standard fashion, sending in riot police with truncheons. Inspired by events in Tunisia, ...
Title:
Euro May Strengthen, But Not in 2011
The euro experienced a staggering slide in 2010, but it wasn’t as impressive as many pessimistic forecasts would let us believe. Still, the debt problems in the European Union persist and the crisis is spreading, therefore 2011 doesn’t look like a very good year for the shared European currency.
The potential problems in the so-called PIIGS countries (Portugal, Ireland, Italy, Greece, and Spain) have grown into a full-fledged crisis, which tends to spread across the European countries. Greece is already nearing default and Ireland isn’t in a much better shape. Italy seems to hold for now, but Portugal and, especially, Spain are expected to cause a lot of problems for the Eurozone. The Forex Crunch explains that Spain’s debt is much more dangerous for the Eurozone as Portugal has a ...
Title:
China hikes rates by 25 bps; Hurts Aussie and Commodities
Forex Morning Briefing: China hikes rates by 25 bps; Hurts Aussie and Commodities.
News:
Forex: Australian dollar slips after Chinese rate hike
Global Markets: Asian stocks mixed following rate hike; commodities edge lower
Japan: Government to lift borrowing limit by 50 trillion yen
Russia: Central bank hikes deposit rate on inflation concerns
China: People’s Bank of China raises rates by 25bps
United States: Quiet week for US economic data
Rates in Asia and Indices:
EURUSD: 1.3170 - 1.3072
USDCHF: 0.9641 – 0.9575
GBPUSD: 1.5457 - 1.5400
EURJPY: 108.93 – 108.42
USDJPY: 82.97 – 82.65
DowJones: 11'573.49 +0.12%
NASDAQ: 2'665.60 -0.22%
S & P 500: 1'256.77 -0.16%
Nikkei: 10’355.99 +0.75%
Shanghai: 2’781.40 -1.90%
Gold: $ 1'385.80
Crude Oil: $ 91.78
Comments:
In a surprise move, the People’ ...
Title:
Crude Futures Soar above $91 a Barrel
Crude futures hit a two-year high Thursday, reaching above $91 a barrel as several economic data releases from the U.S offered a brighter economic outlook for the world's largest oil consumer.
Economic News
USD - Dollar Lower in Light, Volatile Trading
The U.S. dollar fell versus most of its counterparts as data released from the U.S. signaled that the American economic recovery is strengthening, raising demand for higher yielding currencies.
Weekly U.S. jobless claims fell by 3,000 to 420,000 last week, a larger drop than expected. Core Durable Goods Orders rose in December while New Home sales showed some recovery in November, despite coming out lower than expected.
The greenback weakened 1% against the New Zealand dollar to 74.72 U.S. cents from 74.02 cents yesterday. The U.S. ...
Title:
Euro-Zone Debt Concerns Continue to Weigh on the EUR
The EUR briefly reached a new low versus the USD today, falling to 1.2980, as concerns regarding Spain, Portugal and Italy dampened the euro sentiment. Italian, Spanish, Portuguese and Irish bond-yield spreads continued to widen relative to Germany, indicating investors the Greek and Irish debt crises will spread to further euro-zone nations.
The euro since rebounded, though it is still low on the day. The common currency is currently at $1.3034 from $1.3123 late Monday in New York. The single currency also dropped to 109.26 yen from 110.53 yen, after earlier reaching a low of 108.98 yen. The dollar fell to 83.80 yen from 84.25. The dollar again fell below parity with the Swiss franc after trading at 1.0003 francs yesterday. The pound declined to $1.5510 from $1.5574.
The dollar may ...
Title:
Forex - Irish Rescue Fails to Calm Sovereign Risk Concerns
Risk sentiment failed to capitalize on the Irish financial rescue plan yesterday, as risk reduction continued to be the name of the game. As to be expected, EURUSD was hardest hit, dropping 2.00% as any confidence that the EU sovereign crisis was solved, quickly eroded. EU peripheral bond yield spreads widened further with Spain vs. Germany leading the way 27bp to 271bp. EURUSD has come under significant selling pressure as the ECB released a report showing that overnight borrowing from the ECB climbed to €1.9bn from yesterdays €852m. While today’s number is still way off the recent high of €4bn, it is still a considerable jump. Figures like this will only heighten the markets nervousness surrounding bailout speculation in Spain, Portugal and Belgium. In addition, yesterday's weak ...
Title:
Forex - €85bn for Irelands Rescue
As was widely expected, the Irish bailout package details were finally announced Sunday. The release provided a short term boost to risk appetite sending EURUSD up to 1.3354 from 1.3245, but since the initial reaction optimism has been waning. Overall the deal was pretty much as expected with few real surprises. The €85bn rescue package will be funded with €17.5bn from Irish domestic resources including its sovereign wealth fund, and the remaining amount is being funded from the EFSM, the IMF, the EFSF and bilateral loans. As for where the funds will flow, €10bn will be used to recapitalize Ireland’s banks, €50bn used for government requirements and €25bn is available for contingency. According to Irish Government sources the effective interest rate will be roughly “5.8%” which is still, ...
|