ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Whether Europe WideTitle:
Brent extends gains on U.S. jobs data, Iran
Brent crude extended gains above $113 on Friday after data showed the U.S. economy created jobs at the fastest pace in nine months in January, spurring hopes this could stimulate demand at the world's top consumer.
A warning by Iran's supreme leader of retaliation over an oil embargo "at the right time" also supported oil prices.
By 1440 GMT, front-month Brent crude was up $1.63 at $113.70 a barrel, gaining for a fourth consecutive day.
U.S. crude rose by 64 cents to $97.00 a barrel, reversing five straight sessions of losses.
U.S. nonfarm payrolls jumped by 243,000 versus expectations for a gain of only 150,000 in January. U.S. unemployment rate also dropped to a near three-year low of 8.3 percent, indicating last quarter's growth carried into early 2012.
"The jobs number came much ...
Title:
US Non-Farm Payrolls Set to Generate Heavy Volatility
Today's US Non-Farm Payrolls figure, widely considered the most significant economic indicator on the forex calendar, is set to generate heavy trading today. At the moment, analysts are predicting that the US added somewhere around 150K jobs in January. Should the final result come in below expectations the USD may come under renewed pressure to close out the week.
Economic News
USD - Negative Euro-Zone News Gives USD Temporary Boost
Fresh concerns regarding Greece's debt negotiations sent investors to safe-haven assets during the beginning of yesterday's trading session. The news resulted in the US dollar recouping some of its recent losses against the euro. The EUR/USD dropped to the 1.3085 level before staging a correction during the evening session. The greenback was not as ...
Title:
Euro and stocks trade flat on Bernanke, debt crisis
Stocks and the euro traded little changed on Thursday as data signaling improvement in the U.S. labor market and remarks by Federal Reserve Chairman Ben Bernanke that suggested some economic optimism were offset by concerns over Europe's festering debt crisis.
Investors also remained cautious ahead of the U.S. non-farm payrolls and unemployment report for January on Friday, keeping prices in check across financial markets.
Bernanke, in testimony to Congress, said he was seeing signs that some of the uncertainty dampening U.S. business investment, including European banking woes, might be waning. But Bernanke said it was too soon to say whether the United States would remain unscathed by troubles beyond its borders.
"Bernanke is a little more bullish on the economy than expected," said ...
Title:
Risk appetite was boosted overnight
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
Risk appetite was boosted overnight by an article in the Financial Times claiming that the ECB’s next 3y LTRO (due on Feb 29) could see demand for up to EUR1 trn in cash, double the previous amount. If so, it would go a long way towards alleviating term funding concerns for Eurozone banks as their bonds fall due throughout the year. There were no major surprises out of Monday’s Eurozone summit. In French President Sarkozy’s words, the summit ‘went as planned’. Most of the decisions adopted on Monday, such as early execution of the ESM and updates on the situation inGreece,were flagged well in advance. TheCzechRepublicjoined theUKin opting out of the fiscal compact, with Sarkozy noting this was largely due to ‘constitutional reasons’.
There ...
Title:
Euro surrenders 6-week high on Greek debt talks
Greece's unresolved debt restructuring knocked the euro from a six-week high against the U.S. dollar and drove it to a 4-1/2-month low against the safe-haven Swiss franc on Monday.
The euro did cut some of the earlier losses after European Union leaders reached an agreement on the introduction of a permanent euro zone financial bailout mechanism, with details to be worked out at a later date.
"The leaders' agreement on a permanent ESM (European Stability Mechanism) was announced and the euro had a 30 pip move higher. There is also a squeezing of the short-euro position in the market, but I think once the dust settles the euro slides back," said Joe DeGeronimo, chief dealer at SMBC.
To start, the lack of a breakthrough in Greek debt talks pushed yield spreads between German Bunds and ...
Title:
Euro surrenders six-week high on Greek uncertainty
The euro plunged against the dollar, surrendering an early six-week high, and dropped to a 4-1/2-month low versus the safe-haven Swiss franc on Monday with investors betting there will be little resolution in the near term on a Greek debt deal.
The lack of a breakthrough in Greek debt talks pushed yield spreads between German Bunds and debt of euro-zone peripheral nations wider, adding to downward pressure on the euro. An auction of Italian government bonds went off smoothly but did little to calm concerns.
Title:
Oil dips to $111, focus on EU and Iran
(Reuters) - Oil prices dipped to near $111 a barrel on Monday as fears over an immediate cessation of Iranian crude exports to Europe eased, and markets awaited a deal on Greek debt.
Brent crude futures were down 35 cents to $111.11 a barrel by 1455 GMT (9:55 a.m. ET) and U.S. crude was down 83 cents at $98.73 a barrel. Both contracts gained more than 1 percent last week.
"Brent has been more resilient because of what is happening in the Middle East," said Michael Hewson, an analyst at CMC Markets. "But oil is basically trading in a range. There's a little bit of ebb and flow but not much driving it."
Olivier Jakob, an oil analyst at Petromatrix in Switzerland, agreed. "Crude oil is trading in a very small price range, historical volatility is dropping, volume is low, and speculators ...
Title:
Euro retreats from 6-week high on Greek uncertainty
(Reuters) - The euro fell 1 percent from a six-week high against the dollar and dropped to a 4-1/2-month low versus the safe-haven Swiss franc on Monday as talks on a Greek debt swap deal dragged on, with a European Union summit unlikely to offer a resolution.
The lack of a breakthrough in Greek debt talks saw yield spreads between German Bunds and euro zone peripheral debt widen, adding to downward pressure on the euro. An auction of Italian government bonds went off smoothly, but did little to calm concerns.
Title:
Oil flat near $111.40, EU and Iran eyed
(Reuters) - Oil prices traded sideways at around $111.40 a barrel on Monday as uncertainty around Iranian crude exports to Europe continued to provide support and markets awaited a deal on Greek debt.
Brent crude futures were down 4 cents to $111.42 a barrel by 1241 GMT and U.S. crude was down 46 cents at $99.09 a barrel. Both contracts gained more than 1 percent last week.
"Brent has been more resilient because of what is happening in the Middle East," said Michael Hewson, an analyst at CMC Markets. "But oil is basically trading in a range. There's a little bit of ebb and flow but not much driving it."
Olivier Jakob, an oil analyst at Petromatrix in Switzerland, agreed: "Crude oil is trading a very small price range, historical volatility is dropping, volume is low, and speculators are ...
|