ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
LowestTitle:
Brent drops to $111 on debt, growth worries
(Reuters) - Oil fell on Monday on deepening concerns over Europe's sovereign debt crisis and slowing global growth.
Worries that Greece may default on its debts rose after finance ministers of the Group of Seven (G7) industrialized economies pledged a coordinated response to the global slowdown but offered no specific steps to support their economies.
Brent crude oil fell as much as $2.35 per barrel to a low of $110.42 but then recovered some ground to trade around $111.40 by 1000 GMT (6 a.m. ET). U.S. crude slid $2.24 to a low of $85.00 and then moved back up to around $86.20.
Escalating risk aversion helped push the dollar up against a basket of currencies .DXY while stock markets fell in Asia and opened sharply lower in Europe.
"Worries over the future of the euro zone and over much ...
Title:
Euro falls to 10-year low versus yen as Greek woes mount
(Reuters) - The euro fell to a seven-month low against the U.S. dollar and a 10-year trough versus the yen on Monday, hurt by fears of a Greek default and the risk of contagion engulfing the region's banking system and larger economies.
The yen was a big beneficiary of safe-haven inflows, keeping alive the risk of intervention by Japanese authorities.
The Australian dollar, sometimes seen as a barometer of market players' risk appetite, tumbled 1.6 percent to a one-month low, as investors fretted that the global economy will be dealt a severe blow if the euro zone's debt woes deepen.
Italian and Spanish yields rose, widening their spreads over German Bunds, while European stocks and banking shares fell, highlighting how brittle investor confidence was in euro zone assets.
The common ...
Title:
Greece worries drag European shares to 26-month low
(Reuters) - European shares hit a 26-month low on Monday, led by financials on concerns that policymakers are failing to find a permanent solution to the euro zone sovereign debt crisis and as fears of a Greek default intensified.
French banks, which have high exposure to debt issued by peripheral euro zone countries, were particularly hard hit on worries that they could be downgraded by credit ratings agency Moody's after a three-month review.
BNP Paribas (BNPP.PA), Societe Generale (SOGN.PA) and Credit Agricole (CAGR.PA) fell between 11.1 and 12 percent.
The STOXX Europe 600 Banks index .SX7P was down 4.7 percent, the worst-performing sector, reaching its lowest level since March 2009.
Compounding investors' worries was the lack of detail on steps to boost the struggling economies ...
Title:
Global stocks hit hard by Greek worries, G7 inaction
(Reuters) - World shares fell close to 1.5 percent on Monday with European equities tumbling more than 2 percent as investors worried that Greece would default amid signs of disagreement among euro zone policymakers.
Japan's Nikkei closed at a 2-1/2 year low.
Yields fell on long-term core euro zone debt, home to safety plays during times of strife, but the euro fell against the dollar.
Markets were partly reacting to the failure over the weekend of the Group of Seven industrialized nations finance ministers to come up with more than a stated commitment to help turn the world economy around.
But they were mainly focused on the euro zone debt crisis.
German policymaker Juergen Stark's resignation from the European Central Bank's board on Friday underscored internal divisions over its ...
Title:
Oil drops more than $2 on debt, growth worries
(Reuters) - Oil fell by more than $2 on Monday on concerns over Europe's deepening debt crisis and slowing global growth.
Worries that Greece might default on its debts rose after finance ministers of the large industrialized economies pledged a coordinated response to the global slowdown but offered no specific steps to support their economies.
Brent crude oil fell as much as $2.25 per barrel to a low of $110.52 and was down more than 1.5 percent at $110.80 by 0734 GMT (3:34 a.m. ET). U.S. crude slid $2.18 to a low of $85.06.
Escalating risk aversion helped push the dollar up against a basket of currencies .DXY while stock markets fell in Asia and opened sharply lower in Europe.
"People are quite nervous about Greece and other countries in the European area, so that is why investors ...
Title:
Weekly Economic and Financial Commentary : 12/09/2011
Weekly Economic and Financial Commentary
U.S. Review
The Economy Still Faces Core Issues
While it was a fairly light week for economic data, speeches by President Barack Obama and Fed Chairman Ben Bernanke dominated headlines. The president outlined a plan that calls for payroll tax cuts and spending initiatives. Although the proposal could boost growth somewhat, we do not believe it fully addresses the core issues of weak consumer demand and structural unemployment.
Fed Chairman Ben Bernanke's speech offered no new surprises, which puts greater weight on the two-day FOMC meeting scheduled in September.
The Economy Continues to Grow at Stall Speed
While it was a fairly light week for economic data, speeches by President Barack Obama and Fed Chairman Ben Bernanke dominated ...
Title:
The Weekly Bottom Line : 12/09/2011
The Weekly Bottom Line : 12/09/2011
HIGHLIGHTS OF THE WEEK
United States
Policymakers took the floor this week. The main highlight was President Obama’s speech to Congress in which he announced a $450 billion stimulus package aimed at the struggling job market.
The President’s plan is composed of a mix of tax cuts and spending initiatives. The biggest item is a reduction in the payroll tax rate for employees and employers and a payroll tax holiday for employers adding additional workers. Spending priorities are focused on infrastructure and funding to state and local governments to prevent further layoffs.
Should the plan be passed (and this is all but certain) it will provide a modest lift to economic growth over the next year. Nonetheless, the biggest drags on U.S. growth ...
Title:
Global stocks slide, dollar gains on euro zone woes
(Reuters) - European index futures tumbled on Monday, following a slide in Asian equities, and the euro slumped to a 10-year low against the yen after the resignation of a top European Central Bank official cast further doubt on the region's ability to tackle its worsening sovereign debt crisis.
Oil and copper prices fell and the dollar gained broadly as worries about the euro zone's woes combined with fears about flagging world growth to ensure no let-up in the gloom that has gripped global markets for much of the past six weeks.
"People are quite nervous about Greece and other countries in the European area, so that is why investors are escaping to the dollar," said Tetsu Emori, a fund manager at Tokyo-based Astmax Co Ltd. "It's risk aversion."
Euro STOXX 50 index futures fell 2.7 ...
Title:
Euro slumps to 10-year low vs yen as Greece worries mount
(Reuters) - The euro hit a six-month low against the dollar and a 10-year trough versus the yen, falling below key technical levels and option barriers on worries that the euro zone's support for Greece is wobbling and the country may be forced to default on its debt.
The Australian dollar, sometimes seen as a barometer of market players' risk appetite, tumbled more than 1 percent to a three-week low, below its 200-day moving average, as investors fret that the global economy will be dealt a severe blow if the euro zone debt woes deepen.
"The outlook for Greece is almost completely unknown. Support for the country appears to be shaking. The market is starting to think the worst could happen," said Katsunori Kitakura, chief dealer at Chuo Mitsui Trust and Banking.
"It's as if ...
|