ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
JobsTitle:
Asian stocks drop on worries over Europe’s debt crisis after Holland won French presidency
After Socialist Francois Hollande won the presidential elections on Sunday to be France’s next president while in Greece voters rejected the pro-bailout policies, worries over euro zone`s ability to introduce further austerity measures intensified.
Europe’s political instability added to the downside pressures on markets fueled last week when the US jobs report came in weaker-than-expected while Europe’s growth data were disappointing. The MSCI Asia Pacific Index fell 2.5% at 15:01 in Tokyo.
Hollande became France’s first Socialist president in 17 years. During his campaign he pledged to push for less austerity measures and focus on growth, increasing spending and delay the deficit-reduction efforts.
Meanwhile in Greece, voters favored the anti-bailout parties, putting the nation’s ...
Title:
Dukascopy Morning Forex Overview : 07/05/2012
Fundamental Analysis
EUR
"The U.S. labor-market report will further erode investor confidence"
- Markus Allenspach, head of bond research at Julius Baer Group Ltd.
European stocks extended weekly losses, after a report showed U.S. companies added fewer jobs than expected in April. The Stoxx Europe 600 Index erased 1.76 per cent to 253.00. Germany’s DAX Index tumbled 1.99 per cent and France’s CAC 40 Index contracted 1.90 per cent. The U.K.’s FTSE 100 Index lost 1.93 per cent to 5,655.06.
USD
"We’re still very much on the recovery path, but we’ve got a huge amount of ground to make up in the labor market"
- Scott Brown, chief economist at Raymond James & Associates Inc.
The number of Americans, who have found a job in the private sector in April, tumbled to 115,000 from 154,000 the ...
Title:
YouTradeFX Daily Market Analysis : 07/05/2012
Fundamental News
The new Euro-zone politics will dominate markets throughout this week, as anti-austerity political parties take hold in Europe. The confirmation of Hollande’s victory in France marks the end of the Merkel-Sarkozy dominance at the political heart of Europe. Investors are 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. While in Athens, both mainstream political parties saw a dramatic collapse in support with anti-austerity groups seizing the opportunity to bolster their support. The head of the Syriza party, ...
Title:
Crude under negative pressure
Crude oil hammered by the U.S. jobs report on Friday to break the psychological level $100 and close the weekly session below it. And it started this week trading with bearish bias with high uncertainty in Europe that derived by elections in different countries and a new president for France.
Crude oil joined a very strong downside wave which took it actually to its reasonable levels, as we saw many negative factors that were pushing the commodity to the downside along with global efforts to push crude prices to the downside due to its bad effect on the global economy.
And now, there is nothing could push crude to the upside as the negative ones banded together and pushed it lower. The United States started this wave by releasing a bad jobs report that showed a fragile recovery pace in ...
Title:
Greek, French votes send euro, shares lower
(Reuters) - The euro slumped to a three-month low and shares fell on Monday as election outcomes in Greece and France threatened to derail the region's plans to tackle its debt crisis and after weak U.S. data undermined hopes for global economic growth.
In particular, the apparent failure of two pro-bailout ruling parties in Greece to win a majority in the parliament has put the future of its rescue plan in doubt, bringing back into focus questions over the future of the single currency.
In France, Socialist Francois Hollande claimed the presidential seat from Nicolas Sarkozy. The move was widely expected but investors are watching to see how he might push back against a German-led austerity drive.
"The election results at the weekend are not helpful to calming the worries already in ...
Title:
Brent falls below $113 on global demand worries
(Reuters) - Brent crude fell below $113 a barrel on Monday, striking its lowest level since late January, on growing worries about global energy demand after weak U.S. jobs data and European elections that could threaten efforts to fix the euro zone debt crisis.
Oil prices, which have fallen for four straight sessions, suffered a sell off on Friday after data showing U.S. nonfarm hiring slowed for the second month in a row in April, fueling fears of falling energy demand in the world's top oil consumer.
This was compounded by weekend elections in France and Greece that raised concerns over their ability to carry out further austerity measures seen as key to tackle the region's debt crisis.
Since Friday, U.S. crude has lost more than 6 percent, while Brent has dropped over 4 percent.
" ...
Title:
Weak US Jobs Data, Fresh Greece Concerns
U.S. Dollar Trading (USD) the USD was strong against all major except the other safe haven Yen with stock markets crashing on Friday and then again on Monday morning Asia. The main concern on Friday was weaker than expected NonFarm Payrolls from the US in April at +115k vs. 173k forecast. Looking ahead, March Consumer Credit forecast at 9.5bn vs. 8.73bn previously.
The Euro (EUR) the EUR/USD was under pressure Asia breaking below 1.3000 and then falling to 1.2960 as French and Greece elections over the weekend created fresh risks to the Eurozone. The new French President has stated he wants to focus on growth and not austerity going forward. The Greece elections resulted in anti EU politicians gaining favor with their platform of anti-bailout and austerity measures. The Sterling (GBP) the ...
Title:
French, Greek Elections Set to Impact Euro
A disappointing US jobs report resulted in the safe-haven US dollar sliding against the Japanese yen while rallying against riskier currencies like the AUD and EUR to close out last week's trading session. Turning to today, elections held in France and Greece over the weekend are forecasted to generate significant market volatility. Any indication that Greece could back away from recent austerity measures as a result of the election could result in the euro extending its current bearish trend.
Economic News
USD - US Jobs Report Causes USD/JPY to Tumble
Last Friday's US Non-Farm Payrolls figure came in at 115K, well below the forecasted 173K. The news represented the third month in a row of declining hiring in the US, and resulted in renewed speculation that the Fed may initiate a new ...
Title:
Gold edges down on firm dollar after Europe elections
(Reuters) - Gold edged lower on Monday, pressured by a stronger dollar after elections in France and Greece cast doubts on whether the euro zone will be able to battle the debt crisis.
The euro hit a three-month low against the dollar, and the greenback rose to a three-week high versus a basket of currencies, making dollar-priced commodities less attractive to buyers holding other currencies.
|