ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
High In The Secondary MarketTitle:
OECD lowers euro area growth forecasts, warns of debt crisis spill over
The Organization for Economic Cooperation and Development (OECD) said debt crisis is intensifying and “may materialize and spill over outside the euro area with very serious consequences for the global economy.”
The OECD left its growth forecasts for the global economy steady at 1.6% this year on expectations the improvement in the U.S. economy would dwarf the deterioration in the euro region.
As for the euro area, the OECD lowered its growth forecasts to 0.1% contraction this year from November`s forecasts of 0.2% growth and 0.9% expansion in 2013 from prior forecast of 1.4% expansion.
Italy and Spain are expected to record a contraction of 1.7% and 1.6% this year respectively, where they will record a contraction of 0.4% and 0.8% next year.
In Germany, a growth of 1% this year and 1. ...
Title:
EUR/GBP Testing 80.00 Barrier, As BoE Stops Printing Press
Sunrise Market Commentary
- Fixed Income: Largely uneventful session for core bonds
- Core bonds had an insignificant, technical and sentiment-driven session that left bond yields slightly higher in the close. Overnight, negative headline news on JP Morgan and Greece triggered a moderately strong opening of the Bund. Europe will be in the focus today with the publication of the Spanish banking plan and the EU spring forecasts.
- Currencies: EUR/GBP testing 80.00 barrier, as BoE stops printing press
- On Thursday, sentiment on risk turned slightly less negative, even without progress in the Greek debt/election crisis. Nevertheless, the decline in EUR/USD slowed. EUR/GBP reached a minor low just below 0.8000 as the BoE halted its program of asset purchases. For now, we see no ...
Title:
Oil rises above $113 after U.S. jobs data
Oil climbed above $113 per barrel on Thursday as dealers weighed relatively encouraging U.S. jobs figures against weaker-than-expected Chinese trade data.
Downbeat comments by the Organization of the Petroleum Exporting Countries also weighed on the market. The group's monthly report said oil supply was plentiful and in excess of market requirements.
Brent crude rose 32 cents to $113.52 a barrel, while U.S. crude climbed 65 cents to $97.41 by 08.55 a.m. EDT after reports showed new U.S. jobless claims fell slightly last week.
Brent has fallen sharply from highs of around $126 per barrel in April due to worries about political turmoil in Europe and a growing conviction that the market is well supplied.
"Brent seems to be bottoming out," said Carsten Fritsch, oil analyst at Commerzbank. " ...
Title:
Oil eases to around $113 on weak Chinese data
(Reuters) - Oil fell to around $113 per barrel on Thursday as weaker-than-expected Chinese trade data highlighted concerns over energy demand in the world's second-largest oil consumer.
Downbeat comments by the Organization of the Petroleum Exporting Countries also weighed on the market. The group's monthly report said oil supply was plentiful and in excess of market requirements.
Brent crude oil futures for June lost 10 cents to $113.10 a barrel by 07.06 a.m. EDT after settling at $113.20 on Wednesday, up 47 cents. U.S. crude fell 40 cents to $96.41 per barrel.
Brent has fallen sharply from highs of around $126 per barrel in April due to worries about political turmoil in Europe and a growing conviction that the market is well supplied.
Analysts remained downbeat about prospects for ...
Title:
Market Drivers - Currencies : 07/05/2012
Today's Comment
From the point of view of the financial markets, the elections in France and Greece on Sunday had the worst possible outcomes. In France, the winner was Hollande who in his political presentations emphasised that he will ensure new negotiations of the fiscal compact adopted recently by the EU. All other things being equal, this will result in instability in the financial markets and hence lead to a demand for safe-haven currencies and selling of EUR.
In Greece, the preliminary result indicates that the voters have given two major parties that were in power until now a serious beating. The result is that the Greek parliament is so divided that it is difficult to see how it is possible to form a new government. The outcome of the elections over the weekend will contribute ...
Title:
Eurozone woes spark worst UK property recession
(Reuters) - UK commercial property is suffering its deepest downturn since records began after uncertainty surrounding the euro zone crisis pushed values down for the second consecutive quarter and more pain looms on the horizon, data showed.
Investment Property Databank (IPD) said the value of shops, offices and warehouses fell 0.7 percent during the first quarter of 2012, following a 0.1 percent decline in the previous period and were 31 percent below the last peak in September 2007.
The slump is twice as severe as during the previous recession of the late 1980s when values recovered to 15 percent below their pre-crash levels within five years and is the worst downturn since the UK's benchmark index began in 1971.
"The UK has fallen back into technical recession largely due to a lack ...
Title:
European shares gain as ECB eyed, euro steady
(Reuters) - European shares rose while the single currency languished near 10-day lows on Thursday as investors waited to see if a gloomier economic outlook would prompt the European Central Bank to hint at further stimulus measures at a policy meeting.
Fears in the debt market that the deepening euro zone recession and a two-notch downgrade would hit Spain's ability to fund itself eased after the government sold new three- and five-year debt although its borrowing costs rose sharply.
But the spotlight is on the world's major central banks after surprisingly weak economic data from the United States and across the European Monetary Union (EMU) rekindled concerns about the strength of the global economic recovery.
"Given the recent weakness in the EMU economy indicators, we suspect the ...
Title:
Euro rallies on housing data
The euro rallied against the dollar on Tuesday after two housing reports raised optimism about the economic recovery and in turn stoked risked tolerance against the backdrop of a two-day policy meeting at the central bank.
The euro was already bid after a debt sale in the Netherlands saw demand from investors a day after the Dutch government's collapse in a crisis over budget cuts. As institutional investors stepped in to buy the euro after the data, others who had bet against the European currency reversed positions. The move higher then fed on itself.
A closely watched survey showed home prices rose for the first time in 10 months, in an encouraging sign the battered sector is starting to stabilize.
A separate report showed single-family home sales dropped in March to their lowest ...
Title:
Dollar Softer after EU Auctions, US Data
Dollar Softer after EU Auctions, US Data
USD lower across the board except against the AUD after European government debt auctions and moderately higher equities. European markets are trading positively while in the U.S., the DJIA and S&P 500 are currently up about +0.46% and +0.16% respectively. UST yields are broadly higher and the dollar index is lower after being rejected from the daily Kijun line which comes in around 79.40/45. The S&P/Case Shiller HPI fell by -3.49% y/y to 134.20 which was below expectations. Released moments ago was a slew of US data which showed April consumer confidence falling to 69.2 from the pior 69.5 (cons. 69.7), the Richmond Fed manufacturing index rising by more than forecast to 14 from the prior 7 (cons. 6), Feb. house price index rising by +0.3% (cons. + ...
|