ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
FormerTitle:
Anti-austerity ballot backlash rattles euro zone
(Reuters) - An anti-austerity backlash by voters in Greece and France shook the euro zone on Monday, causing jitters for the euro currency and stock markets amid deepening doubts about whether Greece has a future in the single currency.
Greece, where Europe's sovereign debt crisis began in 2009, slid into turmoil after an election on Sunday boosted left and right-wing fringe parties, stripping the two mainstream parties that backed a painful EU/IMF bailout of their parliamentary majority.
Uncertainty over whether the country could avert bankruptcy and stay in the euro deepened on Monday when Antonis Samaras, leader of the conservative New Democracy party which won the biggest share of the vote, failed within hours to cobble together a government.
Samaras had had three days to form a ...
Title:
Obama to press lawmakers to act on economy
(Reuters) - President Barack Obama will renew his calls for the U.S. Congress to act on mortgage relief, small business tax credits, and veterans' assistance to try to refocus the spotlight on lawmakers in an effort to boost the economy.
Obama, who is traveling to Albany, New York, on Tuesday, to visit a nanotechnology research center will lay out a "to do" list for Congress, an administration official said.
The Democratic president, who is running for re-election in November, is eager to show he is taking steps to accelerate economic growth. His expected Republican opponent, former Massachusetts governor Mitt Romney, has painted his background as a business executive as better suited for helping the United States recover from sluggish job growth and high unemployment.
The list is a ...
Title:
Mexican Peso Falls as Fears Grow After European Elections
The Mexican peso fell today as fears of the European financial crisis intensified after the elections the past weekend revealed growing resentment against austerity measures in European countries. The currency managed to rebound later.
The French voted in favor Francois Hollande in the presidential election over Nicolas Sarkozy. Hollande says that Europe needs growth, not austerity. Such view may benefit the eurozone in the long run, but in the immediate futures it spurred fears among investors. Concern about the crisis in Europe was one of the reasons the Mexican peso was the worst performer in 2011.
USD/MXN was down from 13.1643 to 13.1575 as of 16:18 GMT today. The intraday high was 13.2990.
Title:
Technical analysis of the NZD/USD pair on May 7th, 2012
Commentary of the NZD/USD pair :
The pair NZD/USD has continued its bearish movement last friday and the breakout of 0.80 gave us a new sell signal.
The pair has opened the week on a bearish gap, below the support at 0.7950 (new sell signal).
All indicators are bearish.
The pair is moving into its former bearish channel (purple lines).
We continue to advise short positions as far as 0.8050 is resistance.
The breakout of 0.79 will give a new sell signal and open the way towards 0.7850.
In case of return above 0.8050, we will be neutral between this level and 0.81.
See the previous analysis of the NZD/USD pair of May 4th, 2012
NZD/USD Analysis
Title:
Anti-Austerity Sentiment Sends Risk Assets Tumbling
Risk is collapsing as anti-austerity political parties take hold in Europe. Former French PM Sarkozy and mainstream pro-European parties in Greece have felt the force of the anti-austerity backlash that is seeping through Europe.
Fancois Hollande is the leader of the French Solcialist party and the new French Prime Minister after the final round of French elections over the weekend put the socialist party into the top job for the first time since 1988. Investors acutely aware of the new leader's distain for austerity measures and some elements of the EU's new fiscal treaty. Mr Hollande has vowed not to ratify the new EU treaty unless new growth promoting measures are added, which is going to significantly draw-out the process of fiscal integration, if not stop it altogether.
In Athens, ...
Title:
Wall Street posts worst week of 2012 as job growth slows
(Reuters) - Wall Street ended its worst week this year with a sharp selloff on Friday after a slowdown in job creation in the world's top economy raised the biggest question mark yet about the prospects for U.S. growth.
Employers reduced hiring for the third straight month, adding 115,000 workers in April, well below forecasts of 170,000. Traders' expectations had fallen during the week, but the softer jobs number missed even more pessimistic forecasts.
Energy shares were the worst performers, with the S&P energy index .GSPE down 2.2 percent on fears a worsening economy would sap demand. U.S. crude oil fell 4 percent, dropping below $100 a barrel for the first time since February.
Title:
The Weekly Bottom Line : 04/05/2012
The Weekly Bottom Line
HIGHLIGHTS OF THE WEEK
United States
- U.S. job creation may have weakened in the last few months, but the grounds for sustaining stronger employment growth are more fertile now than have been since the economic recovery began. Europe's labor market, by contrast, is likely to deteriorate further before it gets better.
- Europe's (nonfinancial) corporate sector is highly leveraged. As balance sheet adjustments are made, Europe risks further decreases in investment, higher layoffs, and lower economic growth. These effects are compounded by deleveraging in the public sector.
- U.S. corporations, by contrast, are more profitable and liquid than they have ever been. At some point some of these funds will be unleashed towards new investment, creating a positive ...
Title:
Technical analysis of the USD/CHF pair on May 4th, 2012
Commentary of the USD/CHF pair :
The pair USD/CHF continues to move just below the resistance at 0.9150 and above its former bearish slant (purple line).
All indicators are bullish.
We are neutral between 0.9108 and 0.9150.
We advise to wait an exit of this range to take position:
- Long above 0.9150. The breakout of 0.9209 will give a new buy signal
- Short below 0.9108. The breakout of 0.9050 will give a new sell signal.
See the previous analysis of the USD/CHF pair of May 3rd, 2012
USD/CHF Analysis
Title:
Dukascopy Afternoon Forex Overview : 03/05/2012
Fundamental Analysis
EUR
German DAX index climbed on Thursday lifted as ECB decided to keep its benchmark rate unchanged and Spain successfully auctioned bonds. Index was supported with positive news from US as data showed jobless claims fell more than expected last week. BMW AG rallied 2.72% after German car maker reported its EBIT jumped 19% in 1st quarter.
USD
Timothy Geithner, US Treasury Secretary, said that China has to alter its polices tied to exports and focus on stimulating domestic consumption. Such change is vital for sustaining China's economic expansion. Currently, China is exploring the ways for new economic reforms as the country recognized the risks of overreliance on exports, Timothy Geithner added.
GBP
Average house prices in the UK declined by 0.2% last month, ...
|