ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Labor Market RecoveryTitle:
RBNZ kept its policy rate unchange
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
WORLD
The RBNZ kept its policy rate unchanged at 2.5%, but implicitly raised the prospect of a future interest rate cut. The short overnight policy statement warned that continued strength of theNew Zealanddollar may force the bank “to reassess the outlook for monetary policy”. Previously, only a deferral of interest rate hikes was being considered in the case of persistent currency strength, but now two-way risk has been injected into the policy language. Surprisingly, theNew Zealanddollar did not weaken in response, and soon gained 30 pips in line with a more supportive backdrop for risk appetite.
Meanwhile, FX investors continue to digest the FOMC’s latest policy announcement and forecast revisions. Near-term GDP growth and inflation ...
Title:
Fed's reassurance, earnings optimism lift shares
(Reuters) - Asian shares rose on Thursday, retaining positive momentum as the Federal Reserve reassured markets it would keep its very accommodative stance to support growth, while optimism grew over strong quarterly corporate earnings.
Investor confidence was also boosted by a rally in Apple Inc shares as it reported quarterly profits nearly doubling on the back of soaring iPhone sales in China, lifting tech-heavy Asian markets such as Taiwan and South Korea earlier in the day.
There was skepticism Asian markets would climb as much as their global counterparts did overnight, however, as concerns remain over European banks, with Spain's Santander reporting its first-quarter results later in the session.
European shares were likely to start mixed, with financial spreadbetters predicting ...
Title:
Oil up with Wall Street despite U.S. crude stocks build
Crude oil futures rose in choppy trading on Wednesday, getting a lift from U.S. equities despite pressure from a larger-than-expected increase in U.S. crude inventories and a report that Iran may consider a halt to its nuclear program.
Prices moved little after the U.S. Federal Reserve, as expected, said at the end of a two-day policy meeting that it will keep interest rates exceptionally low at least through late 2014.
"Oil got support from equities, which are on a rally mode and as support developed after the day's lows around $103 was not violated," said Hamza Khan, analyst at the Schork Group in Villanova, Pennsylvania.
The central bank said the U.S. economy had been expanding moderately and that the labor market had improved in recent months. It noted, however, that while the ...
Title:
Fed stands pat but says will act if needed
Federal Reserve Chairman Ben Bernanke on Wednesday said U.S. monetary policy is "more or less in the right place" even though the central bank would not hesitate to launch another round of bond purchases if the economy were to weaken.
In a statement after a two-day meeting, the Fed's policy-setting panel reiterated its expectation that interest rates would not rise until late 2014 at the earliest, and it took no action on monetary policy.
The Fed also adjusted its economic forecasts to acknowledge both a labor market that is improving and stronger than expected growth this year. At the same time, officials anticipate that tax hikes and spending cuts could slow growth in 2013 and 2014.
"We remain entirely prepared to take additional balance sheet actions as necessary to achieve our ...
Title:
Asian weekly top events
Last week was full of major economic data concerning many Asian economies, where eyes were centered on the International Monetary Fund that expected more expansion for the global economy during this year, as signs of recovery from the American economy supported the global economy’s outlook as well as the easing European sovereign debt crisis.
The start was with the Japanese economy that released its merchandise trade balance total for March, where the actual reading showed a deficit of 82.6 billion yen compared with a previous reading of 32.9 billion yen revised to 29.4 billion yen, while expectations was leading to a deficit of 223.2 billion yen.
Adding that Japanese economy released exports trade balance for March where the reading inclined by 5.9%, compared with a previous decline of ...
Title:
Weekly Economic and Financial Commentary : 20/04/2012
U.S. Review
Look Past the Monthly Volatility and See the Trend
This week of economic releases painted a somewhat mixed picture, but the underlying trend still reflects an economy that is growing at a modest pace. The milder-than-usual winter likely brought some activity forward and below-consensus readings are due in part to payback. Housing starts, existing home sales and industrial production all posted disappointing readings in March that are likely not indicative of the underlying trend.
Headline retail sales, however, came in more than double the consensus estimate in March, ending the first quarter on a positive note.
Early Spring Brings Payback Period
The full week of economic releases painted a somewhat mixed picture, but the underlying trend still reflects an economy ...
Title:
Dukascopy Morning Forex Overview : 20/04/2012
Fundamental Analysis
EUR
"The debt crisis is far from over still and I think Spain will be worse before it gets better"
- Henrik Drusebjerg, a senior equity strategist at Nordea Bank AB
Spain sold 2.54 billion euros of debt dated 2014 and 2022 on Thursday, above the target range of 1.5 to 2.5 billion euros for the auction.
USD
"Progress in the labor market is not quite as strong as people had hoped, but we are still on a recovery track here"
- Scott Brown, chief economist at Raymond James & Associates Inc.
The number of Americans claiming for unemployment benefits declined by 2,000 to 386,000 in the week ended April 14 from the week before, said the Department of Labor on Thursday.
GBP
"Economic data does look like it is showing some stabilization"
- Samantha Fitzpatrick, senior ...
Title:
Dukascopy Afternoon Forex Overview : 19/04/2012
Fundamental Analysis
EUR
France and Spain plan to assemble EUR 13.5 billion (USD 17.6 billion) in bill auction today as Spanish PM Rajoy struggles to reduce budget deficit and presidential elections in the France drive yields up. France is issuing 2017 bills and 2018 inflation linked notes, a maximum target of EUR 11 billion while Spain is planning to raise EUR 2.5 billion in 2-year and 10-year bonds.
USD
The IMF announced that it has secured 320 billion US Dollars in drive for increasing the fund's lending capacity. Switzerland and Poland have already contributed to the fund expansion. The IMF hopes to raise about 400 billion US Dollars in commitments from countries around the world. The move followed surging borrowing costs of Italy and Spain that escalated concerns over the Euro ...
Title:
Crude steady, gasoline down as supply worries ease
(Reuters) - Crude oil held steady on Thursday while U.S. gasoline futures tumbled for a fourth straight day as concerns about a supply crunch on the East Coast eased.
Oil balanced between downbeat U.S. economic data and persistent, though receding, supply disruption worries as Iran and world powers wrangle over Tehran's nuclear program.
Gasoline futures extended losses to more than 6 percent over the past five days on expectations by traders and analysts that the idled ConocoPhillips' (COP.N) 185,000 barrels per day refinery in Trainer, Pennsylvania, was likely to be sold soon to Delta Air Lines (DAL.N).
"Gasoline futures had risen sharply on fears of a shortfall in East Coast refinery capacity, but news about the Trainer refinery is changing that perception," said Tim Evans, energy ...
|