ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Here Is Required MaintainTitle:
Greek Debt Crisis: Answers to Frequently Asked Questions
Highlights
- An acceleration in deposit withdrawals, combined with the prospect of an anti-austerity party winning the next election, has brought to the fore concerns about a potential Greek exit from the euro zone.
- Our base case assumption is that under the most likely scenario, the Greek election will lead to a government that sticks to an EU/IMF program, even if the terms are renegotiated.
- However, we do believe that Greece needs a further restructuring of its debt and we do think the country will ultimately exit the euro - we're just not convinced that Europe is ready for this to happen at the moment.
- If an accident does occur and Greece does leave the euro in the near term, it would have global financial ramifications that could range from severe to catastrophic. ...
Title:
European Market Update : 23/05/2012
Euro hits fresh 2012 lows ahead of informal summit; More reports of an ECB contingency plan in the works
Economic Data
(GR) Greece Mar Current Account: -€2.1B v €1.1B prior
(NL) Netherlands Mar Consumer Spending Y/Y: % v -1.3% prior
(SE) Sweden Apr Unemployment Rate: % v 7.8%e
(EU) Euro Zone Apr Current Account: +€7.5B v -€5.6B prior; Current Account Seasonally Adj: +€7.5B v -€1.2B prior
(IT) Italy May Consumer Confidence: 86.5 v 89.5e (lowest reading on record after series began in 1996))
(ZA) South Africa Apr CPI (all items) M/M: 0.4% v 0.5%e; Y/Y: % v 6.2%e
(TW) Taiwan Apr Industrial Production Y/Y: -2.3% v -1.7%e; Commercial Sales Y/Y: -2.4% v -0.9% prior
(UK) Apr Retail Sales Ex Auto Fuel M/M: -1.0% v -0.7%e; Y/Y: -0.3% v +0.7%e
(UK) Apr Retail Sales with Auto Fuel M/M: -0.8% ...
Title:
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Maintains near-term positive tone off last Friday’s low at 1.2641, as yesterday’s dip was contained above important 1.2700 level. Fresh gains above 1.2800 and previous high at 1.2811, see potential for further retracement and test of strong resistance zone at 1.2900/15, with break above initial dynamic barrier of 55 day EMA at 1.2830 required. However, overall bearish tone still keeps the downside vulnerable. Immediate supports lie at 1.2780, overnight’s low and 1.2770, trendline support, while loss of 1.2724, yesterday’s low, would weaken the near-term structure.
Res: 1.2780, 1.2800, 1.2811, 1.2868
Sup: 1.2781, 1.2750, 1.2724, 1.2700
GBP/USD
The near-term price action moves in a sideways mode, trading within narrow 1.5780/1.5840 range, with no much prospect seen for stronger ...
Title:
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Extends the near-term recovery above initial barriers at 1.2750 zone, after temporary footstep was found at 1.2640, last Friday. Bounce from here briefly broke above 1.2800 barrier, also Fib 23.6%, where descending trendline, connecting 1.3282/1.3177 tops, limited gains at 1.2811, with corrective easing on overbought hourly studies under way. Dips need to be contained at 1.2760/40 zone, to maintain positive near-term tone for possible fresh attack at upper barriers. Lift above 1.2800, to face significant resistances at 1.2886, Fib 38.2% and 1.2900 zone, clearance of which to confirm near-term base and open way for stronger retracement of 1.3282/1.2641 downleg, with 1.2950/80 seen next. On the downside, loss f 1.2740 and psychological support at 1.2700, would turn focus lowercase ...
Title:
Politics Rule
Markets woke up on a strong bearish tone as political jitters from France and Greece dominate the scenes, sparking a flight to safety across the global markets.
The anti-austerity French presidential candid Mr. Hollande was officially elected the new president, which is considered another political issue that may add further complications to the already uncertain outlook of the euro area. The new president has clearly disclosed his tendency towards less austerity and further growth, which may be a setback to the current fiscal pact and reforms that Sarkozy and Merkel pledged to tackle the debt crisis.
On the other hand, the two main pro-bailout political parties in Greece fell short in the parliamentary elections, as Greeks gave their votes to parties that have always stood against the ...
Title:
Dragi affirms accomadative policy; euro wavers, gold slumps
The European central bank held interest rate steady at 1.0 percent, as inflation pressure remains elevated around 2.6% and is expected to stay above 2.0% in 2012. The central bank head Mario Draghi affirmed that the central bank will continue to hold onto its accommodative stance monitoring further developments closely. The bank also didn’t discuss a rate cut in its April meeting, and that sent the euro dollar higher across the board recovering its earlier losses. Anyhow, the statement came very similar to its previous ones, with no major changes to the overall policy.
We have seen the EUR/USD pair falling sharply today before press conference, the pair tested 1.3100 support level before recovering quickly, however he overall bearish wave remains intact , where price has retested 1.3175 ...
Title:
European Market Update : 02/05/2012
Major European PMI Manufacturing data disappoints; Weak German jobs data blamed on Easter holiday
Economic Data
(EU) ECB: €606M borrowed in overnight loan facility v €619M prior; €789.3B parked in deposit facility v €794.0B prior (Monday)
(IN) India Apr Markit Manufacturing PMI: 54.9 v 54.7 prior
(DE) Germany Mar ILO Employment (Seasonally Adj): 41.459 v 41.406M prior; Unemployment Rate: 5.6% v 5.6% prior
(SE) Sweden Apr Swedbank PMI Survey: 50.2 v 50.5e
(PL) Poland Apr Manufacturing PMI: 49.2 v 49.5e
(HU) Hungary Mar Producer Prices M/M: +0.2% v -1.3% prior; Y/Y: 6.4% v 6.7%e
(NO) Norway Apr PMI: 53.7 v 57.0e
(TR) Turkey Apr Manufacturing PMI: 52.3 v 49.6 prior
(ES) Spain Apr Manufacturing PMI: 43.5 v 43.6e (three-year low)
(TH) Thailand Central Bank leaves Benchmark Interest Rate ...
Title:
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
No significant changes from last Friday, when the pair reached fresh 4-week high at 1.3269. Overnight price action moved within narrow range , hovering around 1.3250. Positive tone on short-term studies keeps the upside favored, with immediate targets at 1.3269 and 1.3277, 02 Apr low, above which to expose psychological barrier at 1.3300. Overnight’s low at 1.3230 offers initial support, ahead of 1.3200, figure support / 55 day MA, while only break below 1.3157/64, last Friday’s low / Fib 38.2% of 1.2993/1.3269 ascend, would delay bulls.
Res: 1.3269, 1.3277, 1.3300, 1.3366
Sup: 1.3229, 1.3211, 1.3200, 1.3157
GBP/USD
Maintains strong bullish tone, with gains accelerating after clearance of 1.6200 barrier. Overnight’s gap higher opening confirms upside action towards 1.6300, ...
Title:
Sterling Leaps Higher On Less Dovish BoE Minutes
Sunrise Market Commentary
Fixed Income: core bonds remain near contract highs
Global core bonds reversed Tuesday's losses in a rather uneventful session. Today, all attention will go to the Spanish bond auction. A weak auction two weeks ago put pressure on Spanish yields since. The 10-yr yield flirts with the psychological 6% mark. In order to avoid more tensions, failure today is not an option.
Currencies Sterling leaps higher on less dovish BoE Minutes
While EUR/USD trading was rather uneventful, sterling was the star performer. Helped by less dovish BoE Minutes and a stronger labour market report, sterling shot higher pushing EUR/GBP below key support and GBP/USD above 1.60.
The Sunrise Headlines
US Equities dropped slightly lower on Wednesday, giving back part of ...
|