ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
TradedTitle:
Loonie Gains vs. Greenback on Fundamentals, Falls vs. Euro
The Canadian dollar advanced versus the US dollar on the good outlook for today’s Canadian macroeconomic reports, while fell against the euro as promises of resolution of the Greek crisis bolstered Europe’s shared currency.
Analysts estimated, before the report from Statistics Canada, that the Canadian retail sales rose 0.6 percent in April. The core retail sales increased 0.5 percent, following the drop by 0.1 percent in April. The growth of the leading index was estimated to be 0.6 percent in May, following the growth by 0.8 percent in the month before.
Despite talks about resolution of the Greek debt problems, the optimism for the European economy, as well as the global economy, can evaporate very quickly unless some real progress in the battle with credit issues would be evident. The ...
Title:
Dukascopy Morning Forex Overview : 21/06/2011
Previous session overview
The euro rose modestly against the dollar and yen in Asia Tuesday as concerns over Greek debt ebbed slightly, but the common currency remained vulnerable ahead of a vote of confidence for Greek Prime Minister George Papandreou later in the day.
While many dealers expect the vote to pass, any signs of fresh political uncertainty would add to concerns about the country's sovereign debt crisis, likely pushing the euro down further.
The government must pass new austerity measures, scheduled for a parliamentary vote next Tuesday, in order to receive its next installment of aid from the European Union and International Monetary Fund.
At 0450 GMT, the euro was at USD1.4341, from USD1.4304 late Monday in New York. Against the yen, it traded hands at JPY114.95, up ...
Title:
Euro higher on hopes on Greece, Parliament vote waited
Morning Briefing: Euro higher on hopes on Greece, Parliament vote waited
News:
Forex: Euro’s rise halted by Fitch, forex traders await Greek parliament
Global Markets: Shares recover, but investors eye FOMC
Euro zone: EFSF Chief says fund to be raised to €780B
Euro zone: Fitch will regard voluntary rollover of Greece debt as default
United States: Fitch threatens to put US sovereign rating on negative watch
Australia: RBA says recent data does not support tightening
Rates in Asia and Indices:
EUR/USD: 1.4384 - 1.4304
USD/CHF: 0.8463 – 0.8419
GBP/USD: 1.6254 - 1.6198
EUR/JPY: 115.36 – 114.65
USD/JPY: 80.35– 80.09
DowJones: 12'080.38 +0.63%
NASDAQ: 2'629.66 +0.50%
S & P 500: 1'278.36 +0.54%
Nikkei: 9’459.66 +1.13%
Shanghai: 2’641.97 +0.79%
Gold: $ 1'543.40
Crude Oil: $ 94.03
Comments:
...
Title:
South African Rand Falls on Greek Crisis, Trims Losses
The South African rand dropped today as the disagreement of the European Union leaders about the bailout for Greece reduced appeal of riskier currencies, but erased most of its losses after the European politician assured that they will help Greece.
Jean-Claude Juncker, the Prime Minister of Luxembourg, said that the sovereign-debt crisis won’t spread to Italy. According to Juncker, George Papandreou, Prime Minister of Greece, claimed that he’ll do any measures necessary to receive the aid. Anyway, renewed concerns the debt crisis sapped strength of higher-yielding currencies, including the rand.
USD/ZAR traded near 6.7510 as of 16:41 GMT today after surging from 6.7430 to 6.8040.
Title:
The euro suffers the loss of confidence
The postponement of financial aid loans for Greece, 12 billion euros for July, until the middle of next month, increased jitters in the market and woes over Greece being forced to default, especially since European finance ministers linked the providence of this aid with the approval of the austerity measures that meets strong resentment in Greece, and this is what traders are really concerned about, amid the political tension in the nation.
The euro is still facing significant pressures against the dollar with the beginning of the week, and those negative pressures continued during the European session, maintaining the dollar’s strength against a basket of foreign currencies. The USDIX is currently trading around 75.35 levels and investors are tending towards the low-yielding assets ...
Title:
The dollar strengthened broadly
USD
The dollar strengthened broadly during the Asia session after a weekend meeting of Eurozone finance ministers ended, unsurprisingly, without substantive agreement on how to solve the Greek debt crisis. The statement issued afterwards even suggested that the disbursement of the next quarterly instalment may have to wait until mid-July. EURUSD traded at 1.4218-1.4301, and USDJPY at 80.03-80.25.
On Friday, the S&P 500 closed up 0.3%. The University of Michigan consumer sentiment index fell to 71.8 (cons. 74.0) in early June from 74.3 in May. Our US economists note that the survey shows inflation expectations remained contained, with longer-term expectations edging up 0.1pt to 3.0% and short-term expectations down 0.1pt to 4.0%.
EUR
Eurozone finance ministers have concluded their ...
Title:
Forex - Events in Greece Hurt Risk Appetite
Forex News and Events:
The optimism surrounding the Greece situation slowly eroded as market digested the events of last week and determined that they lacked substance. EURUSD traded down from 1.4300 to 1.4194, while AUDJPY our carry and risk indicator, broke 84.35—a close below will point to deeper correction in the pair and risk correlated trades.
On Friday, markets had finally received some positive headlines out Europe, as the IMF seemed to soften its stance on the strict austerity demand and appears willing to release the next tranche of aid regardless of the outcome of tomorrow's “no confidence” vote. In addition, the rushed news that Merkel and Sarkozy had reached a “breakthrough”, suggested that EU policymakers were moving towards a higher level of consensus. Perhaps the market ...
Title:
Euro holds ground, eyes on Greek aid
(Reuters) - The euro clung to most of the gains made late last week, underpinned by hopes for some progress on Greece's debt crisis, but the common currency remained vulnerable to any turn of events as European officials meet to hammer out a deal.
Euro zone finance ministers began a two-day meeting on Sunday evening to decide whether to disburse a 12 billion euro tranche of emergency loans to Greece. They will also discuss proposals for a second bailout that could be worth some 120 billion euros and keep Greece funded through 2014.
On Friday, leaders of Germany and France held out hopes for the second rescue package after they agreed on a mild solution favoured by Paris and the European Central Bank on how to involve private holders of Greek bonds.
The euro last traded at $1.4278, well ...
Title:
YouTradeFX Daily Market Analysis : 20/06/2011
www.youtradefx.com
NASDAQ :
Last week, fears that Greece could become bankrupt grew, which, in its turn, created pressure in the financial markets and led to a drop in exchange rates. The NASDAQ also continued to move down and is, at the moment, at its lowest ever point at around 2180 dollars. These low price levels seem to be very attractive for a buy position, especially against the background of the harmonic reverse pattern – BEARISH BUTTERFLY – and the small positive deviation in the MACD indicator.
Finding a solution for an aid package for Greece will, in all probability, lead to a sharp rise in prices in all the markets. Because of this, we can wait for the solution that should be decided upon this coming week. On the other hand, we could already enter a buy position when the price ...
|