ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Markets Of Their Worth ButTitle:
Are commodity merchants "swap dealers" by any other name?
(Reuters) - Big energy companies like Royal Dutch Shell and commodity merchants like Cargill have a simple argument in pushing back against looming new swap market rules: We're not a bank, so don't regulate us like one.
But their efforts to avoid being branded a "swap dealer," a designation that brings with it greater scrutiny and onerous new rules, tend to sidestep the fact that, in one small but important way, most of them trade exactly like a bank.
For much of the past decade, companies including BP Plc, U.S. conglomerate Koch and Swiss-based trader Vitol have quietly offered their hedging strategies and risk management savvy to other firms, often going head to head with banks like Goldman Sachs and Morgan Stanley to pitch airlines, utilities or producers on ways to hedge prices.
Now, ...
Title:
Euro surrenders gains on worries Greece's bailout may not resolve debt dilemma
The European common pared its earlier advance against majors on fears the second bailout granted to Greece may not be enough to resolve the debt-stricken nations' debt dilemma.
Greece succeeded in securing a second bailout worth 130 billion euros that would prevent Greece from relapsing into default next month after reaching a deal with private sector bondholders and ECB accepted to distribute its profits from bond purchasing.
The bond swap deal saves Greece from defaulting on March 20 as the 14.5 billion euros of debt are restructured after reaching a deal with private-sector creditors that would write off 100 billion euros of debt in return of getting new bonds with longer maturity, where banks and insurers would bare a loss of 70% on the net present value of the debt.
On the flip ...
Title:
YouTradeFX Daily Market Analysis : 21/02/2012
Fundamental News:
Today’s highlights:
Core Retail Sales (MoM) (CAD, 13:30 GMT)
Eurozone Finance Ministers have approved a second bailout package for Greece, reports said citing statements by EU officials. The bailout program involved financing worth EUR 130 billion. Meanwhile, Reuters said that the meeting agreed on a debt reduction target of 121 percent of GDP for the country by 2020. The new bailout money would leave Athens with sufficient funds to repay a EUR14.5 billion bond due on March 20.
The European Central Bank on Monday said that it made no purchase of Eurozone government bonds last week, halting the emergency debt buying program for the first time since August. The program, under which the central bank buys bonds from other investors in the secondary market, was launched ...
Title:
Greece secures a second bailout as creditors bare losses and ECB participates while Greece cuts spen
Greece succeeded in securing a second bailout that would prevent the debt-mired nation to collapse into default next month after reaching a deal with private sector bondholders and ECB accepted to distribute its profits from bond purchasing.
Euro area finance ministers approved a 130 billion euro aid package to Greece after a talks that remained more than 13 hours in Brussels, where Greece will cut its debt little bit above the target to 120.5% of GDP by the year 2020, thereby cutting spending further.
Jean Claude Junker, who heads euro area finance ministers, said "We have reached a far reaching agreement on Greece's new program and private sector involvement that would lead to a significant debt reduction for Greece ... to secure Greece's future in the euro area."
Now, Greece is able ...
Title:
Euro rises with Greek deal expected but sentiment fragile
(Reuters) - The euro rose on Monday on expectations that euro zone policymakers would approve Greece's second bailout but risks over implementing the deal as well as a loose euro zone monetary policy outlook were likely to cap the common currency's gains.
Analysts expected the 130 billion euro bailout deal to be signed off by euro zone finance ministers on Monday after numerous delays. Although financing gaps in Greece's debt reduction plans remained, a euro zone official said they were not big enough to risk derailing the process.
The euro was seen likely to stage a knee-jerk rally on the deal being signed as chances of a disorderly default on Greek debt would be reduced. However, the rally could run out of steam as the package was not expected to resolve Greece's underlying economic ...
Title:
Forex - Expectations High for todays Eurogroup Meeting
Forex News and Events:
It seems that no matter how much the market tries to convey the critical and fragile nature of the current crisis, European leaders again have pushed the crisis to the cliff's edge. Risk appetite firmed as cut China the RRR by 50bp and Greek cabinet has approved further austerity measures of €125mio over the weekend. EURUSD consolidated its gains around the 1.3200 but momentum has clearly stalled. Greece will be the key item on the agenda of the Eurogroup today and we suspect that appetite for new positions will remain light. With issues emanating from Iran, oil continues to gain. Should Brent close above $121.00 its would clearly indicate a broader push to all time highs of $127.00 . This price action should trigger further gains in beta currencies especially ...
Title:
Italian police seize $6 trillion of fake U.S. bonds
(Reuters) - Italian police said on Friday they had seized about $6 trillion worth of fake U.S. Treasury bonds and other securities in Switzerland, and arrested eight Italians accused of international fraud and other financial crimes.
The operation, co-ordinated by prosecutors from the southern Italian city of Potenza, was carried out by Italian, Swiss and U.S. authorities after a year-long investigation, an Italian police source said.
It began as a investigation into mafia loan-sharking, but gradually expanded as prosecutors used telephone and computer intercepts to unearth evidence of illegal activity surrounding Treasury bonds.
The fake securities, worth more than a third of U.S. national debt, were seized in January from a Swiss trust company where they were held in three large ...
Title:
Growth-led rally fights Greek headwind
Greece will once again be the single biggest risk factor overshadowing financial markets in the coming week, but investors are also on the alert for signs of recovery in Europe to support the strong rally in riskier assets seen this year.
The big numbers to watch will be the purchasing managers' surveys for Germany and euro zone and the German Ifo business climate index, while U.S. data on the housing market is seen as key to confirming the recovery in that giant economy.
But a cloud of uncertainty hangs over the market as the battle to secure a deal to provide Greece with a second bailout and avoid a disorderly sovereign debt default when bond repayments come due on March 20 rages on.
"The markets will still be on tenterhooks until a final agreement is in place, not just the agreement ...
Title:
YouTradeFX Daily Market Analysis : 17/02/2012
Fundamental News:
Today’s highlights:
Retail Sales (MoM) (GB, 09:30 GMT)
Core CPI (MoM) (CAD, 12:00 GMT)
Core CPI (MoM) (U.S, 13:30 GMT)
U.S. initial unemployment claims showed an unexpected decrease in the week ended February 11th, according to figures released Thursday by the Labor Department. Jobless claims came at a seasonally adjusted level of 348,000 for the week, a drop of 13,000 from the previous week's revised level of 361,000. U.S. producer prices for finished goods increased by less than expected in the month of January, according to figures released Thursday by the Labor Department. The PPI edged up by 0.1 percent in January, reversing the 0.1 percent drop seen in December.
The European Central Bank is currently swapping Greek government bonds with new ones at ...
|