The banks have now reportedly agreed for a 40% haircut on Greek debt. Germany and other countries want more even 60%. But wait. This is by no means a reduction of 40% or 60% in the Greek Olympus of debt. It applies only the private sector. In order for the Greek debt to become sustainable, … “Haircut for the ECB – A Step Forward for a”
Month: October 2011
GBP Higher Against USD — For Now
The Great Britain pound is grinding higher against the US dollar today, thanks to increased risk appetite, and expectations for a European deal by Wednesday. However, things might not remain so rosy for the UK pound going forward. For now, the UK pound is benefiting from higher global equities, as well as optimism that things are about to be resolved in the eurozone concerning the sovereign debt crisis. However, pound is only … “GBP Higher Against USD — For Now”
Canadian Dollar Gets Boost on Forex Market Optimism
Canadian dollar is getting a boost today, rising against the US dollar on optimism about what’s next for the eurozone. With the expectation of a deal announced by EU leaders on Wednesday, the Forex market is showing a return to risk — at least for now. Earlier, the loonie moved higher against the euro, but now the euro has the upper hand in that pair. The Canadian dollar remains solidly up against the US dollar, though, and higher … “Canadian Dollar Gets Boost on Forex Market Optimism”
USD Posts Small Losses After EU Summit Ends
The summit of the European Union leaders ended without a clear outcome. Some progress was made, though, and the US dollar fell as demand for safety waned. The greenback still hangs near its opening level against most currencies. The proposition of turning the independent European Central Bank for borrowing was rejected and instead the European Financial Stability Facility should be empowered to buy the bonds of the indebted nations. European Commission President Jose Barroso … “USD Posts Small Losses After EU Summit Ends”
Euro Gives Away Its Gains Today
The euro started the week rallying, but the doubts, that remained even after the European Union summit, caused the rally to fail and the currency hangs now barely above the opening level above the greenback and below the opening versus the yen. The EU leaders discussed on the summit the ways to support the region’s banks. They refused the idea of a forceful restructuring of the Greek debt. Investors weren’t completely convinced by the plans of the politicians and the drop of the European manufacturing and services industries … “Euro Gives Away Its Gains Today”
USD/JPY: Trading the US CB Consumer Confidence Index
The Conference Board Consumer Confidence Index is based on a monthly survey of about 5,000 US households regarding their opinion of economic conditions and the overall economic climate. Its release always has a strong impact on market prices. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Tuesday at 14:00 GMT. … “USD/JPY: Trading the US CB Consumer Confidence Index”
Risk Trade Supports GBP/USD
Both Asian and European markets moved higher after positive sentiment seen at the close of the New York session on Friday. Despite a gap lower on Eur/Usd and Aud/usd at yesterdays open that appeared because of the “no real news from weekends EU summit”, pairs managed to recover on hopes that by Wednesday final decisions … “Risk Trade Supports GBP/USD”
4 Reasons Why the EU Summit(s) Will Fall Short, Again
Scrambling continues in the euro-zone towards the October 23 Summit, which will likely be followed by an October 26 Summit. Progress is made towards compromises, which will likely be celebrated but will share the same fate of the July 21 Summit. There are three main issues on the agenda. All will likely end in a … “4 Reasons Why the EU Summit(s) Will Fall Short, Again”
NZD/USD: Trading the New Zealand CPI Release
The New Zealand CPI (Consumer Price Index), which is released every quarter, measures the change in the price of goods and services charged to consumers. CPI readings which are higher than forecast tend to be bullish for the New Zealand dollar. Here are all the details, and 5 possible outcomes for NZD/USD. Published on Monday … “NZD/USD: Trading the New Zealand CPI Release”
Euro Fell as Hopes Turned to Doubts This Week
The euro declined against most majors this week even though it looked at first the persisting optimism from the previous week would carry the currency even higher. The concerns returned and dragged the euro down. The main theme on newswires remained the same: Europe and its debt crisis. There was a new part of it, though, as attention of market participants turned to the European Union summit this week. The possible changes to the bailout … “Euro Fell as Hopes Turned to Doubts This Week”