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EurozoneTitle:
Euro Holds Steady as Traders Await News from Greece
Euro is holding steady right now as Forex traders wait for news about what’s next for Greece. Financial markets around the world are waiting to see whether or not Greece will accept the austerity measures that are required for a bailout. If Greece accepts, 130 billion euros will be offered and the country will avoid default. If Greece refuses the austerity measures, it could mean a default — and the destabilization of the entire eurozone.
Right now, there is just enough hope that the deal will ...
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Free Daily Price Action Forex Trading Strategies & System
The Forex: Gold Rises As Fed Extends Its Plan To Keep Interest Rates Low
THE FOREX
In the forex market, American dollar gained again the euro after mixed economic data. According to Commerce Department data, bookings for long-lasting goods advanced 3% after rising 4.3% the prior month, this is the biggest back-to-back gains in almost a year. Figures from the Commerce Department showed Purchases of single-family properties decreased 2.2% from the prior month to a 307,000 annual pace. Latest ...
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Pictet Daily forex Analysis - 02/07/2012
The Reserve Bank of Australia left interest rates unchanged at 4.25%.
German manufacturing orders rose 1.7% month-on-month in December.
Nicolas Sarkozy said the Greek situation should be settled once and for all. The Troika will not release the next instalment of bail-out funds if Greece does not take the required austerity measures.
The ECB bought EUR 124 million worth of bonds last week compared to EUR 63 million the week before.
USD/CHF
The USD/CHF has struggled to break out of its all ...
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UK Pound Gains against a Weakened Euro
UK pound is gaining against a weaker euro today, heading higher as worries about Greek debt resume. Greek talks have been suspended for a short time, even though Greek PM Lucas Papademos said that some progress had been made recently. The pound, though, is down against the US dollar as risk aversion sets in.
Sterling is pulling back today against the US dollar, following a general rally in January. Equities saw some gains recently, thanks to improved economic data, and that helped the pound. ...
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Forex - Aid Talks Stall in Athens
Forex News and Events:
High yielding currencies continued to outperform as the developed nations central banks have all committed to a sustained period of ultra-loose monetary policy (unlimited free liquidity) and the contraction of volatility has put the carry trade back on the map. As with the crowded dividend trading in the equity markets, we suspect that growth projections in many of these nations have already been priced in. So the kicker at this point will only be the interest rate ...
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Focus of Greek response
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
The euro suffered overnight as fears over the situation in Greece have resurfaced. While the market is hoping for a clinching of a debt swap deal today with private sector creditors, securing cross-party support for further austerity measures and securing further funding from the troika is proving far more difficult. According to political leaders in Athens, the main parties have until noon today (local time) to respond to the troika’s demands, ...
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Weekly Economic and Financial Commentary : 05/02/2012
Weekly Economic and Financial Commentary : 05/02/2012
U.S. Review
Off to a Good Start for the Year
The employment report for January showed that 243,000 jobs were added with the unemployment rate declining slightly to 8.3 percent. The details of the report however, suggest that unseasonably warm weather may be playing a role in the stronger job gains.
The ISM-Manufacturing Index posted a marginal improvement in January as new orders jumped for the month. Export orders also posted a ...
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Better Data Drives Risk On, Fed QE3 Off
The Week Ahead
Highlights
Better data drives risk on, Fed QE3 off
Still waiting on a Greek debt deal
Central banks' decisions on tap
Better data drives risk on, Fed QE3 off
The past week ended with a string of better-than-expected data releases from key major economies, suggesting the global recovery may avoid a more worrisome downturn. Mostly better than expected PMI's from Europe, UK, China and the US were supplemented on Friday by a much stronger US employment report than was ...
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US Dollar Pares Earlier Gains
US dollar is paring some of its earlier gains against the euro as risk appetite improves. However, greenback still has the upper hand against European currencies right now as the data coming out of the United States seems to indicate that the economic recovery could speed up.
Right now, the big excitement is the non-farm payrolls for January. Analysts had expected some gains for jobs, but the figures released beat expectations by quite a bit. The US economy added 243,000 jobs in January, and ...
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