ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Financial Markets HadTitle:
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:
Greece pressures euro, drives demand for German debt
(Reuters) - The euro closed in on a three-month low and safe-haven German bonds rose on Wednesday as political disarray in Greece and the rising costs of fixing Spain's banks fueled fears the euro zone's debt crisis was worsening.
The concerns over Europe added to worries about the impact of softer growth in the U.S. on the global economic outlook, causing a broad retreat from risky assets with world shares falling, oil prices down for a sixth straight session and the commodity-linked Australian dollar hitting new lows.
The market's immediate attention was on Athens where efforts to form a government were expected to fail, putting its ability to meet the terms of its bailout deal in doubt and raising the possibility of Greece being forced out of the euro.
"The sensitivity to political ...
Title:
Shares, commodities retreat on Greek uncertainty
(Reuters) - Shares, precious metals and oil fell and the euro remained pressured on Wednesday as Greece struggled to form a government after an election that saw incumbent parties punished, heightening the risk that a hard-won bailout deal could be scrapped.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS shed 1.4 percent to its lowest in more than three months, with energy .MIAPJEN00PUS, materials .MIAPJMT00PUS and growth sensitive industrials .MIAPJIN00PUS leading the declines.
Resources-heavy Australian shares .AXJO plunged 1 percent to a three-week low as oil, precious metals and copper slid.
European shares will likely edge up after a mauling on Tuesday, with financial spreadbetters predicting that major European markets .FTSE .FCHI .GDAXI would open 0.6 ...
Title:
U.S. sees China pushed to let market forces work
(Reuters) - China will be compelled to let market forces play a larger role in managing its economy as it faces complicated challenges ranging from an aging population to rising wages and prices, a senior U.S. Treasury Department official said on Tuesday.
Lael Brainard, the Treasury's undersecretary for international affairs, told a group of business people, diplomats and academics that China faces "an extraordinarily steep demographic cliff" that will reduce the advantage of a young labor force willing to work cheaply.
"Wages and costs are rising rapidly. There is a self-reinforcing momentum to have market forces determine how capital is allocated, how exchange rates adjust," Brainard said during a discussion about last week's Strategic and Economic Dialogue talks in Beijing.
...
Title:
Greek crisis drags euro, global stocks, oil lower
The euro, oil and world stocks fell on Tuesday as worries intensified that Greece could reject the bailout that saved it from a chaotic bankruptcy as new leadership sought to form a government two days after elections.
Voters in weekend polls in both Greece and France soundly rejected the harsh austerity measures that markets have seen as the way out of Europe's debt crisis, heightening the uncertainty of the path ahead for the euro zone.
Alexis Tsipras, the leader of Greece's Left Coalition party, began efforts to form a government by rejecting terms tied to the country's receipt of bailout funds and threatening to nationalize banks.
The head of a centrist conservative party, which won the most votes Sunday, said he would not back a minority government that renounced the bailout, ...
Title:
Wall Street falls on Europe, but late buying trims losses
Stocks ended lower on Tuesday after political developments in Greece fanned concerns about Europe's fiscal health, but a late rally helped indexes cut losses to close well above lows.
Stocks spent most of the session sharply lower, with selling following declines in European markets. Fears that Greece will reject an existing international bailout and potentially leave the euro prompted the selling across markets.
The S&P 500 fell through support at 1,350 to reach levels not seen since early March, but buyers emerged to support stocks.
"A lot of people have been looking at 1,350 as the short-term correction level, a level that the buy-the-dip crowd was hoping to get. This doesn't mean the market is not focusing on Europe," said James Dailey, who manages $215 million at TEAM Financial ...
Title:
Will EURUSD Fall Below 1.30?
This is the key question for currency traders right now. The fundamental back-drop looks challenging for the euro. Although the Merkel/ Hollande rift seems overdone to us, Greece is the real problem. The leader of the New Democracy party announced late last night that he had failed to form a coalition government. The baton is now passed to the leader of the radical left wing Syrizia party, which now has three days to form a government. If this fails then another round of elections is on the cards for June. However, these elections could coincide with Greece running out of money, which makes them a much riskier prospect than the elections held last weekend.
Election deadlock
However, why has the euro not fallen through the floor? Back in 2010 the mere mention of the word bailout caused ...
Title:
Dukascopy Morning Forex Overview : 08/05/2012
Fundamental Analysis
EUR
" show that despite the crisis in the euro area, Germany is growing and benefiting from a revival in international trade."
- Klaus Baader, senior economist at Societe Generale SA
German factory orders rose by more than forecast in March, a sign Europe’s largest economy is weathering the debt crisis.
USD
"From where we sit right now, we think the economy looks fundamentally stronger."
- Marisa Di Natale, an economist at Moody’s Analytics in West Chester
U.S. stocks closed mixed on Monday after Francois Hollande was elected as a French president and Greek voters turned to antibailout parties.
GBP
"… the challenging economic backdrop suggests that a significant acceleration in prices or activity is unlikely in the near term."
- Robert Gardner, Nationwide’s ...
Title:
S&P ends almost flat; investors shrug off Europe
Investors brushed off Europe's election results, as the S&P 500 rebounded from early losses to end nearly unchanged on Monday, despite the uncertainty surrounding the euro zone's ability to tackle its debt crisis.
U.S. financial stocks, normally highly sensitive to events that could unsettle the euro zone's fiscal stability, were not only the biggest gainers, but had the heaviest volume.
The S&P 500 financial sector index .GSPF rose 0.7 percent. Bank of America (BAC.N) shares shot up 2.8 percent to $7.96 and Goldman Sachs (GS.N) gained 1 percent to $110.04.
"One positive thing we are seeing out of the elections and we are hearing from the ECB chairman is a focus on growth and that austerity measures alone are not going to get them out of this crisis," said Sean Lynch, global investment ...
|