Another day, another new record for Spanish 10 year yields – 5.15% at the time of writing, already higher than the peak at the height of the Greek crisis. This reflects fear that Spain may be unable to pay its debt, as contagion spreads. Yesterday, a bond auction by Iberdrola, a big Spanish power company … “Spanish 10 Year Yield Jumps”
Author: admin_mm
North Korea Threatens To Attack – South Korea Reinforces
While there’s quiet on the Korean front, tension remains very high. South Korea will add troops on the 5 islands west of the peninsula that border North Korea, including Yeonpyeong that was the scene of the incident on Tuesday. The South Koreans will allocate a big budget for this. And the North Koreans don’t remain … “North Korea Threatens To Attack – South Korea Reinforces”
Euro Slips on Strikes in Portugal & Ireland
The euro slipped today as the workers in Portugal and Ireland are planning to go on strike to protest about the planned austerity measures, curbing the appeal of the shared 16-nation European currency. Portugal’s government announced in September that it’s planning to cut the wage bill by 5 percent for the public workers earning more than â¬1,500 ($2,000) a month, freeze the hiring and raise value-added taxes by 20 basis points to 23 percent in order to reduce the budget deficit. … “Euro Slips on Strikes in Portugal & Ireland”
Canadian Dollar Surges as Risk Aversion Turns to Risk Appetite
The Canadian dollar surged today, erasing losses against its US counterpart, as the signs of the economic recovery outweighed the risk aversion sentiment, spurring the loonie. The Canadian consumer prices rose 0.7 percent in October, on the seasonally adjusted monthly basis, the largest increase since January 2006. This follows the 0.3 percent increase in September. The retail sales in Canada increased for the fourth consecutive month, rising 0.6 percent in September. The retail sales in the volume … “Canadian Dollar Surges as Risk Aversion Turns to Risk Appetite”
Fundamental Overview Market Movers Last Week 11/22/2010
The U.S. Dollar continued trading higher against most of the major currencies last week, with the exception of the New Zealand Dollar which gained a rather modest+0.6 percent against the Greenback. The previous week’s rumors of an impending default of Irish banks materialized to some extent last week as the Irish financial crisis remained the … “Fundamental Overview Market Movers Last Week 11/22/2010”
Panda Sync Server – MetaTrader 4 to Proprietary Trading
Panda TS, which makes products for the forex market, announces a new product for forex brokers that aims to simplify and to lower costs. It allows the integration of the popular MetaTrader 4 platform with other systems that already exist. All the details are in the press release here: Panda TS (Panda TS), a global … “Panda Sync Server – MetaTrader 4 to Proprietary Trading”
Anglo Irish Haircut Begins
The troubled Anglo Irish bank, which was the “early bird” of the current big debt crisis in Ireland is restructuring its debt. This means that some bond holders just won’t get the money back. More details here on Alphaville. Tracy Alloway notes: To be sure, this was largely expected* by the market, given recent bondholder … “Anglo Irish Haircut Begins”
EUR/USD Elliot Wave Video – Deep Lows Ahead
US dollar gained sharply in recent sessions as North and South Korea exchanged artillery fire and pushed the risky assets lower. Eur/Usd is testing levels around the 1.3300 August highs and also a weekly support line connected from June lows, where a breakout will signal for more losses in coming weeks, down towards the 1.2600 … “EUR/USD Elliot Wave Video – Deep Lows Ahead”
Japanese Yen Strengthens vs. Euro on Korean Conflict
The Japanese yen rose today against the euro after it declined previously as the United Nations called for the talks with North Korea about its attack on the South Korean island, supporting the Asian equities and reducing the demand for the haven. The MSCI Asia Pacific Index of shares reduced its losses to 0.4 percent after it previously fell as much as 1.3 percent. The experts say that if the Korean conflict wouldn’t continue the incident … “Japanese Yen Strengthens vs. Euro on Korean Conflict”
New Zealand Dollar Rebound After Decline
The New Zealand dollar strengthened today after two days of decline on the speculation that the previous drop was exaggerated and the global economic growth would bolster the kiwi. The New Zealand currency dropped yesterday on the concerns for the European debt crisis and the Korean conflict. The economists said that the currency dropped too much and the economic growth should outweigh the bad news, improving the markets sentiment and spurring the commodity currencies. NZD/USD advanced from 0.7587 … “New Zealand Dollar Rebound After Decline”