The European leaders and beuarocrats are scrambling to find a solution for Greece towards the summit on Thursday, and to stop the raging contagion in Spain in Italy. There are many options, many constraints, and confusion is growing. Sending Trichet to the printing presses could could stop contagion in the short run,and enable growth and … “QE in the Euro-zone: A Solution to Satisfy (Almost)”
Month: July 2011
EUR/USD: Trading the US Existing Home Sales
The vast majority of home sales in the US are of existing houses. This is a major indicator for the housing sector and for the whole economy, and is expected to rock the markets, as always. Here are the details, and 5 possible scenarios for EUR/USD. Published on Wednesday at 14:00 GMT. Indicator Background The … “EUR/USD: Trading the US Existing Home Sales”
Is Agreement Among European Leaders Attainable? Perhaps
Greek Finance Minister Evangelos Venizelos suggested that agreement on measures to resolve the European debt crisis at the coming European Union summit is “attainable”. These words boosted the euro. The Ewald Nowotny, one of the governors of the European Central Bank, signaled that the Europe’s central bank may accept Greek bonds as collateral. He said in the interview to CNBC: At the end of the day it has to be the decision of the ECB. The ECB should not be … “Is Agreement Among European Leaders Attainable? Perhaps”
AUD/USD Trades Higher After RBA Minutes
The Reserve Bank of Australia released today minutes of its policy meeting on July 5 that indicated a robust economic growth in Australia and, thus, decreased probability if interest rates cuts. The Australian currency reacted positively to the minutes. The minutes also spoke about problems of the global growth, as well as some domestic issues, but conclusion was favorable: Notwithstanding this, members considered that the continuing strong economic performance of Asian … “AUD/USD Trades Higher After RBA Minutes”
Bad Monday for Euro
This week started with talks about the debt issues in Europe and, consequently, the euro dropped, posting the biggest intraday decline against the US dollar in almost a week. Worries about European peripheral economies intensified as now Italy and Spain were brought to the fore. Italian 10-year bond yields jumped 27 basis points to 6.027 percent today and Spanish 10-year yields climbed as much as 30 basis points to 6.368 percent. … “Bad Monday for Euro”
NZD/USD Should Get More Attention
The New Zealand dollar / US dollar usually ends lists of currency pairs, and is sometimes just left out of them. The currency is just above the “exotic” grade, enjoys a few positive characteristics, and should gain more attention from currency traders. Here are 5 reasons why. With a population of less than 4.5 million … “NZD/USD Should Get More Attention”
Aussies Goes Down as Europe Hurts Risk Appetite
The Australian dollar weakened today as concerns about the European debt crisis curbed attractiveness of riskier assets and drove investors to seek safety. Higher-yielding currencies suffered today as traders wait for the summit of the European Union leaders on July 21, but don’t put much hope on it. The MSCI Asia Pacific Index of shares fell 0.5 percent, dropping for the third day. The economic situation in Australia itself isn’t great either, causing economists … “Aussies Goes Down as Europe Hurts Risk Appetite”
USD/CHF Eyeing 0.8000 Psychological level.
Usd/Chf made a nice sell-off in the past week, from 0.8500 region where wave (e) completed a very nice, clean running triangle. We know that triangles unfold just prior to the final move in the larger pattern. Most typical appears in wave four of an impulsive wave and wave B of a zig-zag move (three … “USD/CHF Eyeing 0.8000 Psychological level.”
New Record of Franc Against Euro
The Swiss franc reached a new record versus the euro today on concerns that the European leaders won’t be able to reach an agreement regarding necessary measures to battle the sovereign-debt crisis. The leaders of the European Union will meet in Brussels on July 21 to discuss the financial situation in the region. The European Central Bank strongly opposes any restructuring of the Greek debt and agreed to lend to the nation, disregarding the rating agencies that reduced Greece’s credit rating … “New Record of Franc Against Euro”
UK House Prices Fall for First Time in 2011, Sterling Weaker
The Great Britain pound dropped against the Japanese yen and fluctuated against the US dollar as the report showed today that UK house prices declined for the first time this year. The Rightmove House Price Index fell 1.6 percent in July, following the 0.6 percent increase in June. The number of new sellers dropped 12 percent. According to the Bloomberg Correlation-Weighted Currency Indexes, the pound declined 6.8 percent from a year ago versus … “UK House Prices Fall for First Time in 2011, Sterling Weaker”