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Gave Us A BuyTitle:
Tech, U.S. debt progress lifts stocks; euro dips
(Reuters) - Asian shares rose on hopes that an 11th-hour deal in U.S. debt talks would avert a rapidly approaching default while blowout results from Apple lifted the tech sector which is likely to extend gains into European trading as well.
However, dampened expectations of a comprehensive solution to Greece's debt crisis at a euro zone leaders' summit on Thursday ate into the euro's gains.
Financial bookmakers expect Europe's main stock indexes to rise on Wednesday, adding to the previous session's tentative rebound, helped by earnings hopes and signs of progress on a U.S. budget-reduction deal.
Financial spreadbetters expect Britain's FTSE 100 .FTSE to open around 16 points higher, or 0.3 percent, Germany's DAX .GDAXI to open 25 points higher, or 0.4 percent, and France's CAC 40 . ...
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Technical analysis of the NZD/USD pair on July 20th, 2011
Commentary of the NZD/USD pair :
The pair NZD/USD took up its bullish movement and the break out f 0.85 gave us a new buy signal.
We maintain to trade only long positions as far as the bullish slant (purple line) is support.
The breakout of 0.8550 will give a new buy signal and open the way towards 0.86.
However, if the bullish slant is broken, we will be neutral between this level and 0.8350.
See the previous analysis of the NZD/USD pair of July 19th, 2011
Title:
Dollar soft on QE3 speculation, debt hangover
The dollar hit a record low against the Swiss franc and a four-month trough versus the yen on Thursday on expectations of further monetary easing by the Federal Reserve and a credit warning on U.S. debt.
Ratings agency Moody's issued a warning on the United States' credit rating just hours after Fed Chairman Ben Bernanke sent the dollar tumbling by suggesting to Congress that the central bank could provide more stimulus if the economy weakened further.
The dollar's slide against the yen raised the possibility of Japanese intervention, although many expect any such action is unlikely to have the blessing of other major central banks, like the coordinated action in March.
The euro pared gains against the dollar after an Italian bond auction in which the Treasury had to pay the highest ...
Title:
Why an Economic Downturn Begets a Technological Renaissance
The Old World is looking older by the day, as most European stock markets fell yesterday for the sixth time in seven days. Here in the New World, the Dow Jones Industrial Average tried to buck the trend, but did not succeed.
Around midday in New York, the Federal Reserve issued fresh assurances that it stands at the ready – if the economy continues struggling – to do even more of what hasn’t worked. The Dow jumped about 70 points on the news, but failed to hold its gains. By day’s end, the Dow was down 59 points at 12,447.
According to the newswires, the Dow fell late in the day because Moody’s downgraded Ireland’s credit rating to “junk” – making the Emerald Isle the third of the five PIIGS nations to suffer this particular ignominy. Moody’s downgraded Portugal to junk about one week ...
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Dukascopy Morning Forex Overview : 13/07/2011
Previous session overview
The dollar dropped to a four-month low against the yen in Asia Wednesday, as talks on the U.S. debt ceiling became bumpier, while mounting concerns over contagion of euro-zone debt problems left the Japanese currency as the least unattractive option.
In thin trade early Wednesday morning in Asia, the dollar fell to JPY78.48, its lowest since March 17. Yet unlike that day, when the greenback's slide to a post-World War II low at JPY76.25 ramped up pressure for intervention-which came the following day-Japan's currency authorities seemed unlikely to wade into the market for now.
Another reason Japan's finance ministry, which decides the country's currency policy, is unlikely to order up intervention now is that the yen's strength hasn't prompted any sharp sell- ...
Title:
Euro, stocks tumble as Eurozone debt crisis deepens
(Reuters) - The euro declined to a four-month low on Tuesday after new IMF Managing Director Christine Lagarde said the fund was not yet ready to discuss terms of a second Greek bailout, while equity markets tumbled on concerns more countries will be engulfed by the euro zone's debt problems.
European stock index futures pointed to a sharp decline in equities, extending the previous session's steep sell-off. By 0605 GMT, futures for Euro STOXX 50, for DAX and for France's CAC were 1.1 to 1.3 percent lower.
Growing worries about Europe stoked investors' flight from riskier assets into bonds, extending a rally in U.S. Treasuries and sending Japanese government bond prices to a two-week high.
In a bid to keep Italy and Spain from the same fate as Greece, Portugal and Ireland, euro zone ...
Title:
The Continuing Delusion of Economic Recovery
“The people will be crushed under the burden of taxes,
loan after loan will be floated; after having drained the
present, the State will devour the future.”
– Frédéric Bastiat, French libertarian economist, 1850
Stocks managed to eek out a bit of a rally yesterday. The Dow was up nearly 100 points by the session’s close. (Approximately equal to the amount it gave back within the first sixty seconds of trading today.) Gold, meanwhile, is up $8 over the past 24 hours. An ounce this morning goes for just over $1,540. And bitcoins…they’re back to $14.50 a piece. Hmmm…
Thursday’s investors were apparently nonplussed by the previous day’s job news. Two separate reports revealed what Fellow Reckoners have long suspected; that the job market is in the toilet. According to the reports, another ...
Title:
Forex - Waiting on US Payrolls
Forex News and Events:
As is normal on the morning of NFP Friday, trading was subdued during the Asian session. Stronger Asian regional indices gave the markets a slightly bullish tone with the Hang Seng up 0.94%. After yesterday’s choppy trading, EURUSD has been ranging between 1.4320 and 1.4370 however, there is mounting pressure on the downside. The ECB raised rates 25 bps to 1.5% and the BoE held rates and did not modify the asset purchasing program. By now, the ECB rate decision and accompanying press conference has been analyzed to death and there’s is not more to discuss. Trichet bravely held on to his hawkish tone (in spite of softening in European economic data and debt troubles) and stated that he was monitoring inflation risk “very carefully”. In addition, he reiterated the ...
Title:
Technical analysis of the USD/JPY pair on July 8th, 2011
Commentary of the USD/JPY pair :
The pair USD/JPY continues its bullish movement and the breakout of 81.20 gave us a new buy signal.
The pair is now moving towards 81.50.
We maintain to trade only long positions as far as 80.97 is support.
The breakout of 81.50 will give a new buy signal and open the way towards 81.84 (level 38.20%).
The breakout of 81.50 will give a new buy signal and open the way towards 81.84 (level 38.20%).
However, if 80.97 is broken, we will be neutral.
See the previous analysis of the USD/JPY pair of July 7th,, 2011
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