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YenTitle:
EUR Holds Gains as Investors Bet on Greece Bailout
The euro zone will be publishing its reports on consumer confidence today; most predominant will be the ZEW readings. Many investors are turning their attention on the euro zone regional economy after yesterday's faltering debt discussion met resistance. Most speculative traders appear to be betting on a last minute deal being thrown together this week to save Greece, and the EUR will benefit from the shift in risk appetite that results.
Economic News
USD - USD Bearish as Traders Seek Risk
The US dollar was seen in decline in trading yesterday as traders began to seek risk following speculation that the euro zone would put together an eleventh-hour deal to bailout Greece.
The EUR/USD was seen moving towards 1.43 yesterday before settling mildly below this mark. The GBP/USD was also in ...
Title:
Pairs narrow trading on technical movements
Although some optimism came back to global financial markets after that European leaders reassured investors that a Greek failure to pay on its debts can actually be avoided, still major pairs are now narrow trading mainly on technical movements unlike the prior EU session where the Union currency was seeing gains.
In fact As a result of these technical movements the euro-dollar pair is narrow trading on several time charts as neutral signs are witnessed throughout the momentum indicators at different time scales with the Union currency now trading around 1.43009 recording a high of 1.4326 and a low of 1.4190.Trading range for today is among the major support 1.4235 and the major resistance 1.4545
As for the pound-dollar pair, is consolidating and is forecasted to start inclining to the ...
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Euro retreats vs Swiss franc on Greece uncertainty
(Reuters) - The euro slid against the Swiss franc on Monday in choppy trading, with further losses likely after European finance ministers delayed a decision on the next tranche of Greece's financial aid.
The euro did recoup losses against the dollar, yen, and sterling, but traders said its performance against the Swiss franc has of late reflected investors' true sentiment on the euro zone's single currency.
The initial retreat in the euro was triggered by news euro zone finance ministers failed to agree on the disbursement of Greece's next installment in emergency loans, totaling 12 billion euros. They said the release of the loan would depend on the approval by the Greek parliament of new austerity measures.
A comment by Klaus Regling, chief of the European Financial Stability ...
Title:
Dukascopy Afternoon Forex Overview : 20/06/2011
Previous session overview
More support for the euro zone's most fragile economies in the form of a larger European Financial Stability Facility helped the euro recoup earlier losses Monday.
The EFSF news helped the single currency trade back to almost even against the dollar; the euro reversed direction against the yen and made modest gains against the Japanese currency.
Analysts though said any tick up was likely to be fleeting because of so much uncertainty on putting a cap on Greece's fiscal troubles. To that end, the debt crisis in the euro zone's periphery is threatening to shatter the region's economic recovery and may cause a global financial disruption if not stopped, the International Monetary Fund warned anew Monday.
The euro was quoted at USD1.4303 from USD1.4309 in late ...
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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 ...
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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 ...
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Japan's Economy Falters as the Massive March Quake
As for the current status in Japan, it needs time to revive again before the end of 2011, where the sustained recovery in manufacturing may take time as companies are facing a shortfall of engine spares which halted the production cycle.
Further Japanese merchandise trade balance has continued its contraction movement, which fell more than expected during the month of May, giving a negative signs about the economic recovery in Japan, while the nation is still faltering from the March quake and it faces problems that impede the recovery.
Japan's merchandise trade balance dropped to -853.7 billion yen in May, compared with a previous drop -463.7 billion yen in April that revised to -464.8 billion yen, while the analyst's expectations referred to -710.1 billion yen.
Japan's adjusted ...
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Global economy awaits important fundamentals from major Asian economies
This week, Asian economies are going to release important data that will grab the global economy’s attention. Japan will release the trade balance for May and we can still see the economy suffering from the March quake, along with the Reserve Bank of Australia’s minutes amid the slowing economic growth in the nation.
The Australian economy shrank in the first quarter of this year, the most in two decades, as exports one of the mail pillars for economic growth dropped after the natural disaster that hit the nation.
Moreover, Australian monetary policy makers decided to leave interest rate steady for the sixth consecutive month at the highest level of 4.75% as the Bank aims to support the economy to exit from its recession after the first quarter contraction.
Mr. Glenn Stevens, the ...
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