ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
New Zealand DollarTitle:
Euro hits 4-months low on Greece jitters; Aussie dips
The euro hit its lowest level in nearly four months on Monday after Greek political leaders failed in their latest efforts to form a ruling coalition, keeping investors on edge over the risk of the country exiting the euro zone.
Coalition talks in Greece hit an impasse on Sunday and Greece's radical leftist leader spurned an invitation from the president for a final round of talks on Monday, all but ensuring a new election.
Adding to the negative tone, German Chancellor Angela Merkel's conservatives suffered a crushing defeat on Sunday in an election in Germany's most populous state, a result which could embolden the left opposition to step up attacks on her European austerity policies.
The euro seems likely to head lower in coming weeks, especially since the European Central Bank may ...
Title:
Worries over global economy push major currencies to take downward trend
Major currencies declined at the beginning of the week sessions amid continues worries over the outlook of global economy and amid the instability of many economies in financial and economic sides, where investors are waiting the meeting of Greek president to determine the financial crisis of Greek.
Euro fell to the lowest in three months against dollar where investors’ worries from Greek’s crisis pushed them to avoid the rest of euro zone members which delinked the demand on the currency, where the pair now at 1.2892 with high of 1.2903 and low of 1.2778.
From another side, NZD/USD pair fell after New Zealand’s retail sales data that declined by 1.5% less than expected and previous reading which increase pressure on New Zealand’s dollar, where the paor now at 0.7817 recording high of 0. ...
Title:
Euro hits 3-1/2-month low, Aussie eyes parity
(Reuters) - The euro fell to a 3-1/2-month low while growth-linked currencies like the Australian dollar tumbled on Friday as news of JPMorgan's trading losses from a failed hedging strategy and soft Chinese economic data spooked investors.
These concerns lifted the safe-haven U.S. dollar with the euro vulnerable to more losses as political deadlock keeps Greece without a government.
That has left investors fretting over the risk of the nation exiting the euro zone and fanned worries that the region's debt crisis may worsen. Traders said a reported euro option barrier at $1.2900 was the near term focus.
The euro fell at one point to $1.2905 on trading platform EBS, its lowest level since late January, with stop-loss selling adding to its drop. It last stood at $1.2915, down 0.2 percent ...
Title:
Euro clouded by Greece and Spain worry
(Reuters) - The euro fell close to a recent three-month low versus the dollar on Wednesday and the safe haven yen rose broadly amid worries over the impact on the euro zone stemming from political turmoil in Greece and the fragility of Spain's banking sector.
The euro remained under widespread pressure after the leader of Greece's Left Coalition party said on Tuesday that the country's commitment to a European Union/International Monetary Fund rescue deal had become null and void.
Greece's two main pro-bailout parties failed to win a majority in weekend elections, leaving questions over the country's ability to avert bankruptcy and stay in the euro.
Added to instability in Greece, French President-elect Francois Hollande has advocated an approach to tackling the debt crisis centered ...
Title:
Greece pressures euro, drives demand for German debt
(Reuters) - The euro closed in on a three-month low and safe-haven German bonds rose on Wednesday as political disarray in Greece and the rising costs of fixing Spain's banks fueled fears the euro zone's debt crisis was worsening.
The concerns over Europe added to worries about the impact of softer growth in the U.S. on the global economic outlook, causing a broad retreat from risky assets with world shares falling, oil prices down for a sixth straight session and the commodity-linked Australian dollar hitting new lows.
The market's immediate attention was on Athens where efforts to form a government were expected to fail, putting its ability to meet the terms of its bailout deal in doubt and raising the possibility of Greece being forced out of the euro.
"The sensitivity to political ...
Title:
Euro on the edge as political risk mounts
(Reuters) - The euro fell close to a recent three-month low on Wednesday and was set for further falls on worries that Greek political uncertainty and a French leadership change may undermine the euro zone's austerity measures.
The euro remained under pressure after the leader of Greece's Left Coalition party said on Tuesday that the country's commitment to a European Union/International Monetary Fund rescue deal had become null and void.
Greece's two main pro-bailout parties failed to win a majority in weekend elections, leaving questions over the country's ability to avert bankruptcy and stay in the euro.
Added to instability in Greece, French President-elect Francois Hollande has advocated an approach to tackling the debt crisis centered more on growth, which may create tensions with ...
Title:
Dukascopy Morning Forex Overview : 09/05/2012
Fundamental Analysis
EUR
"The debt crisis damps demand for German products in Europe but Russia, China, India, Brazil and South Africa should generally be able to compensate declining sales."
- Gerd Hassel, an economist at BHF Bank AG
German industrial production unexpectedly soared in March, adding to signs the euro zone’s largest economy is weathering debt crisis. Production jumped 2.8 per cent from February, when it declined 0.2 per cent, said the Economy Ministry on Tuesday.
USD
"People are preparing for a shock that may or may not occur."
- Michael Holland, chairman and founder of New York-based Holland & Co.
U.S. stocks fell on Tuesday as Greece’s bailout pledge came into question.
GBP
"The health of the housing market is a reverberation of consumer confidence and credit ...
Title:
New Zealand’s dollar fell amid prices drop
New Zealand’s dollar, which recorded the second worst performance during last month, started to fall amid the drop in product prices and weaker economic indicators according to the central bank’s governor Mr. Allan Bollard speech.
Moreover, the current drop is supported by the hesitated picture of New Zealand’s economic outlook as well as economic weakness in Euro zone, where New Zealand’s dollar fell to 4.4% during the last month after the announcement of the central bank about re-evaluating the interest rate outlook policy.
Meanwhile, New Zealand’s dollar fell against dollar to 78.51, where the governor of the central bank noted that there is not much to do to set prices. At the same time Fonterra co. a leading multinational dairy company, owned by 13000 New Zealand dairy farmers and ...
Title:
Euro falls as political risks weigh, nears 3-month low
(Reuters) - The euro fell close to a recent three-month low on Wednesday, on worries that political uncertainty in Greece and a French leadership change may undermine austerity plans key to tackling the euro zone's debt crisis.
The euro remained under pressure after the leader of Greece's Left Coalition party said on Tuesday that the country's commitment to a European Union/International Monetary Fund rescue deal had become null and void.
Greece's two main pro-bailout parties failed to win a majority in weekend elections, leaving questions over the country's ability to avert bankruptcy and stay in the euro.
"One issue is whether this will cause investors to shun risk globally, or be viewed as the euro's problem alone and just lead to weakness in the euro," said Koji Fukaya, director of ...
|