ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Respond To The Euro ZoneTitle:
Dukascopy Afternoon Forex Overview : 06/02/2012
Fundamental Analysis
EUR
17-nation currency declined against most of its counterparts on Monday Asian trade as investors awaited Greek officials' response to international creditor requirements. The Euro dropped 0.6% against greenback to USD 1.3085 and lost 0.3% against Japanese Yen, reaching JPY 100.46. Currently EUR/USD is trading at USD 1.3070 and EUR/JPY is trading at JPY 100.30.
USD
Bank of America, JP Morgan Chase &Co and Well Fargo & Co was sued over use of property loan database by Eric Schneiderman, Attorney General of New York. According to Schneiderman, the lenders' use of database (MERS) led to inadequate foreclosures. Banks are accused of misleading home-owners, undermining foreclosure proceedings and creating uncertainty about proprietorship interests in real estate.
...
Title:
Greek uncertainty undermines euro, dollar firm
(Reuters) - The euro fell on Monday on mounting investor concern that Greek coalition parties had yet to sign off on the terms of a new bailout, keeping alive the risk of a messy default that could ensnare other countries such as Portugal.
Greece's coalition members must agree to painful terms of a new bailout worth 130 billion euros before euro zone finance ministers next meet, with a Greek government official denying that there was a deadline for the parties to respond to.
A spokesman of the PASOK socialist party which is a coalition partner, said on Sunday that leaders of the three parties had to give their responses by 5 a.m. ET on Monday.
So far there appears some distance between the Greeks and the targets proposed by the IMF-EU-ECB troika with concerns rising that Athens might be ...
Title:
Greek uncertainty undermines euro, dollar firm
(Reuters) - The euro fell on Monday on mounting investor concern that Greek coalition parties had yet to sign off on the terms of a new bailout, keeping alive the risk of a messy default that could ensnare other countries such as Portugal.
Greece's coalition members must agree to painful terms of a new bailout worth 130 billion euros before euro zone finance ministers next meet, with a Greek government official denying that there was a deadline for the parties to respond to.
A spokesman of the PASOK socialist party which is a coalition partner, said on Sunday that leaders of the three parties had to give their responses by 5 a.m. ET on Monday.
So far there appears some distance between the Greeks and the targets proposed by the IMF-EU-ECB troika with concerns rising that Athens might be ...
Title:
Focus of Greek response
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
The euro suffered overnight as fears over the situation in Greece have resurfaced. While the market is hoping for a clinching of a debt swap deal today with private sector creditors, securing cross-party support for further austerity measures and securing further funding from the troika is proving far more difficult. According to political leaders in Athens, the main parties have until noon today (local time) to respond to the troika’s demands, and so far there appears some distance between where the national unity government lies and the IMF’s targets. Talks continued late into the evening on Sunday and will resume today between the troika and the local authorities. Reports suggest that the main point of contention lies in private sector ...
Title:
Dukascopy Morning Forex Overview : 02/03/2012
Dukascopy Fundamental Analysis
EUR
" is probably going to retake the topside, but $1.34 is probably where it tops out"
- Westpac Banking Corp. (based on WSJ)
Despite pair’s recent determined advancement, EUR/USD is expected to remain capped be a key resistance line located at 1.3245/50.
USD
"Risk appetite is fairly positive at the moment, and this could continue for a couple of weeks. Typical safehaven currencies have taken a step back now"
- Rochford Capital (based on Bloomberg)
A tough resistance area at 102.55/60 is unlikely to let EUR/JPY rally in the nearest future, pushing the pair down toward 99.00/98.90.
GBP
"If QE is 25 billion, sterling could stabilise and even rally. If it is 75 billion, sterling may come under pressure"
- UBS (based on Reuters)
En route to 1.6170/90 (200 ...
Title:
Dukascopy Afternoon Forex Overview : 02/02/2012
Dukascopy Fundamental Analysis
EUR
The ECB is expected to reject helping to lessen Greek debt load until private creditors and government reach an agreement. Greek investors are boosting pressure on ECB to support the debt swap, however, the bank's officials are awaiting for the final agreement before disclosing ECB strategy which may contain sacrificing profits from Greece's bonds.
USD
Head of Fed Ben Bernanke claims that the US economy is on the path towards recovery while still remaining fragile. Bernanke pointed out that recent employment, spending and production data have improved. Bearing in mind stable inflation expectations, anchored commodity prices and labor and production reserves, Bernanke expects low inflation in near term.
GBP
FTSE 100 Index fluctuated between gains and ...
Title:
Dukascopy Morning Forex Overview : 02/02/2012
Fundamental Analysis
EUR
"The merger between Deutsche Boerse and NYSE Euronext would have led to a near-monopoly in European financial derivatives worldwide"
- Joaquin Almunia, competition commissioner
The European Commission has blocked a 9 billion dollar merger between Deutsche Börse and NYSE Euronext stock exchanges, saying that it would have stifled competition and created a monopoly in derivatives trading.
USD
"The job market continues to grow at a moderate pace"
- Jonathan Basile, senior economist at Credit Suisse in New York
The number of Americans who have found a job in the private sector in January declined to 170 thousand from a revised 292 thousand the prior month, the ADP Employer Services said on Wednesday.
GBP
"The UK manufacturing sector has sprung to life in the first ...
Title:
Dukascopy Afternoon Forex Overview : 01/02/2012
Dukascopy Fundamental Analysis
EUR
European Flash CPI y/y for January was in line with expectations at 2.7%; the reading remained unchanged since December. Final manufacturing PMI slightly outperformed the 48.7 forecast and stood at 48.8 in January; the PMI reading still points out a demand contraction among European businesses.
USD
Amazon announced an essential decline in net income and warned of probable loss this year. Net income for Q4 of 2011 achieved USD 177 million as compared to USD 416 million in the preceding year. The decline appeared despite sharp growth in revenues that increased by 35% to USD 17.43 billion last year. Following the announcement, the company's shares lost over 8% to trade at USD 177.50.
GBP
The prospects of new QE undertaken by the Bank of England aimed at ...
Title:
Dukascopy Morning Forex Overview : 01/02/2012
Fundamental Analysis
EUR
"The debt swap agreement is ready, but it will not be announced before the end of the week"
- A senior Greek banker
The leaders of 25 European Union member countries Monday signed a German-inspired pact for stricter budget discipline which will impose sanctions on countries that run excessive deficits and rack up unsustainable debts.
USD
"Consumer confidence appears to have leveled off, as job growth isn’t quite as good and gasoline prices have moved back up"
- Stuart Hoffman, chief economist at PNC Financial Services Group Inc.
U.S. consumer confidence declined in January as consumers became less optimistic on the outlook of the country’s economy, the Conference Board Inc. said on Tuesday. An index of sentiment decreased to 61.1 from a revised 64.28 reading.
...
|