Portugal and Ireland are both under the cosh of the bailout / austerity programs. Like Greece, their chances of returning to the bond markets don’t look so good at the moment. Also Cyprus could join the club. Portugal is complying rather well and suffering quite badly. Unemployment in Portugal is forecast to rise to 15.5% … “More Bailouts for Portugal, Ireland and Cyprus?”
Month: June 2012
NZ Dollar Falls as Optimism for Spain Proves to Be Fleeting
The New Zealand dollar fell against the Japanese yen and the US dollar, rising versus the euro at the same time, after the announcement of the â¬100 billion rescue package for Spain. Initially, the reaction to the announcement was very positive. The optimistic feelings among Forex traders proved to be short-lived and concerns for the future of the eurozone are mounting again. According to reports, the International Monetary Fund refrained from participating in the bailout, signaling that the international community is … “NZ Dollar Falls as Optimism for Spain Proves to Be Fleeting”
Yen Gains as Forex Market Leaves Risk-On Mode
The Japanese yen rose today against most major currencies as the Forex market shifted from risk-on mode to risk aversion. The currency erased its earlier losses that were caused by positive market sentiment. The news that Spain will get a â¬100 billion bailout spurred optimism among investors, but that positive mood was short-lived. Market participants are worried that the rescue would not solve the problems … “Yen Gains as Forex Market Leaves Risk-On Mode”
Canadian Dollar Falls Back as Risk Appetite Fades
Canadian dollar received a boost earlier, but the good news has since faded. A short-lived risk rally helped the loonie higher, but now concerns over what’s next for Europe have sent the currency down against the US dollar as uncertainty sets in and increases the demand for safe haven. Once the news of the Spanish bailout was released, riskier assets received a boost. Canadian dollar was part of that rally, benefitting as Forex … “Canadian Dollar Falls Back as Risk Appetite Fades”
US Dollar Pulls Back on Spanish Bailout
The announcement that eurozone leaders are ready to bailout Spain is boosting risk appetite today, and sending the US dollar lower. Even though some of the euro’s gains have been pared since the news was announced, greenback is still mostly lower in Forex trading. US dollar is heading down as Forex traders consider that the euro might not be doomed after all. Once again, the volatility … “US Dollar Pulls Back on Spanish Bailout”
Ringgit Gains as Spain’s Bailout Improves Traders’ Mood
The Malaysian ringgit rose today, following other Asian currencies in gains, as the news about a bailout for Spain fueled optimism among investors and attractiveness of higher-yielding assets. The bailout for Spain eased tensions about the situation in the eurozone and made traders look at riskier assets in more favorable light. The MSCI Asia-Pacific Index of stocks gained as much as 1.9 percent. Additionally, Malaysian industrial production advanced 3.2 percent in April from a year ago, while … “Ringgit Gains as Spain’s Bailout Improves Traders’ Mood”
Euro Jumps on Bailout for Spain
The euro jumped sharply at the beginning of today’s trading session as Spain is going to receive a rescue from the European Union. The currency weakened after the initial rally, but remained far above the Friday’s close. Spain asked for â¬100 billion aid, becoming the fourth European country that asked for a bailout. The Stoxx Europe 600 Index of equities advanced as much 1.8 percent. The euro opened far above the Friday’s closing level, but … “Euro Jumps on Bailout for Spain”
8 Holes in the Spanish Bailout
In an emergency conference during the weekend, the EU decided on granting Spain up to 100 billion euros for its banks. After long weeks of uncertainty, this move will definitely cheer up markets. However, looking at the details or the lack of them, shows that the gloom could return within days. Here are 8 holes … “8 Holes in the Spanish Bailout”
GBP/USD: Trading the UK Manufacturing Jun 2012
The British Manufacturing Production, a key indicator, provides analysts and traders with a snapshot of the health of the UK manufacturing sector. A reading which is higher than the market forecast is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Tuesday at 8:30 GMT. Indicator Background The … “GBP/USD: Trading the UK Manufacturing Jun 2012”
How Long Can Italy Hide Behind Spain?
Italy replaced Berlusconi with a technocrat prime minister: an ex Goldman Sachs banker: Mario Monti. Monti has been quite successful in following the austerity path: the Italian parliament approved many reforms. Monti also took the time to criticize Spain. The big achievement is that Italy’s yields are lower than Spain. Apart from that, the situation … “How Long Can Italy Hide Behind Spain?”