After taking bonuses, the Irish banks are now seizing money from Ireland’s central bank. In urgent need for cash, banks such as Allied Irish Bank (nyse:aib) and the Bank of Ireland (nyse:ire) are now using unknown funds – not from European Central Bank (ECB) but rather the local one. The Telegraph reports that the vast … “Irish Banks Scavenging Central Bank”
Category: Forex Bits
BabyPips Interview
BabyPips interviewed me for their December edition of their Q&A corner. In the interview, I’ve discussed trading experiences, becoming a successful trader, correlation between personality and trading style and lots more. The page also features interviews with Casey Stubbs and Rafael Rosa. Enjoy! BabyPips is a great forex education site, especially for beginners.
Lebanon Indictments Submitted to Tribunal
The prosecution in the Special Tribunal for Lebanon handed in their conclusions to the judge. The conclusions probably include indictements of Hezbollah members in the murder of former Lebanese prime minister Rafik Hariri. Daniel Bellemare handed the papers today to pre-trial judge Daniel Fransen, but an official statement will be released tomorrow, January 18th. His son, Saad … “Lebanon Indictments Submitted to Tribunal”
Hezbollah Taking Over Lebanon?
Hezbollah is preparing to take over Lebanon – perhaps by creating an alternative government, or by ousting Saad Hariri, which is now the prime minister of a temporary government. The Hezbollah indictments, by the Special Tribunal for Lebanon (STL), might be released as early as Monday, January 17th. Hezbollah pushed Hariri to disconnect himself and … “Hezbollah Taking Over Lebanon?”
USD/CAD Reaches New Lows
The Canadian dollar enjoyed the weakness of the US dollar to push forward to fresh multi year levels. USD/CAD went as low as 0.9866 before rising again. This came despite weak figures from Canada so far this week – two housing sector figures came out worse than expected. Nevertheless, the retreat of the US dollar, … “USD/CAD Reaches New Lows”
Portugal Bailout – 7%Yields Mark the No Return Point?
Portugal is under pressure to take a bailout, despite denying it. Portuguese bond yields traded in a choppy manner, as the Euro dropped lower. Tracy Alloway, at Alphaville, reminds us of the previous bailouts through charts – 7% yields on ten year notes were the point of no return. Portuguese bonds already passed this mark … “Portugal Bailout – 7%Yields Mark the No Return Point?”
A Quick 50 Pips Off The NFP – What Can We Learn From It?
Guest post by NewstraderFX My trade room made a quick 50 pips trading Friday’s NFP report and here’s how it was done. Plan For Different Scenarios. This involves understanding what the overall bias in price movement will be if the report is worse, equal, or better than the expected number. In this case, my opinion was … “A Quick 50 Pips Off The NFP – What Can We Learn From It?”
Euro-zone GDP Lower in Q3
The Gross Domestic Product in the Euro-zone grew by only 0.3% in the third quarter of 2010. The final release of GDP wasn’t expected to show a change from the previous read of a 0.4% growth rate, so this is a disappointment. The final release usually confirms earlier releases. In other European news, the unemployment … “Euro-zone GDP Lower in Q3”
Spanish Bond Yields Moving Higher
The yields on ten year Spanish government bonds are on the rise and are currently at 5.53%. This came after a few good days of lowers yields, that were pushed by the Chinese pledge to buy Spanish bonds and to support the country. But now, as the fears grow in Europe, the yields are moving up. Spain … “Spanish Bond Yields Moving Higher”
European Bank Defaults Draft
The European Commission has released the first paper discussing the methods for defaults of European banks. It may be called burden sharing, restructuring, or just not paying the debt. The paper is a draft, which is open to contributions until March 3rd, and aims for official approval by the summer. More details brought Tracy Alloway. … “European Bank Defaults Draft”