Moody’s downgraded no less than 28 Spanish banks between 1 to 4 notches. The move was expected and joins similar moves by other rating agencies and by Moody’s in the past. This decision to cut ratings seems illogical: Spain and other European countries will do everything to keep the banks afloat, that these banks seems … “Downgrades? Spanish Banks Should All Have a Perfect AAA”
Category: Opinions
USD/JPY: Trading the US CB Consumer Confidence Index
The CB Consumer Confidence Index provides important readings about consumer confidence and spending, which are critical for economic growth. A higher reading than the market forecast is bullish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Tuesday at 14:00 GMT. Indicator Background Analysts carefully scrutinize the direction and rate of … “USD/JPY: Trading the US CB Consumer Confidence Index”
Market Set For Risk-Off Mode – Elliott Wave Analysis
The market keeps trading lower since last week, Thursday to be more precise when the S&P500 turned nice lower from around 1360 at 61.8% Fibo resistance. Notice that prices broke through the channel support line and successfully closed below it. S&P Elliott Wave Analysis – Click image to enlarge Guest post by Gregor Horvat This … “Market Set For Risk-Off Mode – Elliott Wave Analysis”
4 Reasons to Expect a Disappointment from the EU Summit:
Expectations have risen towards the EU Summit, especially after non-European G-20 leaders told Europe that the issues should be sorted out in Brussels. All 27 EU leaders meet on June 28-29. Given past failures and a wide range of issues on the agenda, little can be expected from this event. Here are 4 reasons why … “4 Reasons to Expect a Disappointment from the EU Summit:”
Only a Wholesale Market Collapse Can Trigger QE3
The Fed’s monetary easing programs are getting smaller and smaller, and so are the chances of QE3. John Kicklighter of DailyFX. Only a collosal collapse could trigger action. In the interview below, Kicklighter talks about QE3, the shape of Spain’s bailout, Japanese intervention and other topics. John Kicklighter is a currency strategist for FXCM in … “Only a Wholesale Market Collapse Can Trigger QE3”
EUR/USD: Corrective Bounce To 1.2800 Before Pair Turns Bearish
The Euro is still trapped in tight ranges around 1.2700 in the markets and it is more than obvious that the corrective rally that started at the beginning of June is incomplete. Notice that in the recent sell-off, the market did not break through the lower support line of a corrective channel, which means that … “EUR/USD: Corrective Bounce To 1.2800 Before Pair Turns Bearish”
EUR/USD at Strong Resistance Before the FOMC – Short
EUR/USD is close to the weekly highs just before the FOMC meeting. Expectations are high for more monetary stimulus. However, there are many reasons to believe that the Federal Reserve will not announce any new policy this time. With the pair close to resistance, this could be a short opportunity. Update: Indeed a short opportunity, … “EUR/USD at Strong Resistance Before the FOMC – Short”
USD/JPY: Trading the US jobless claims June 2012
The US Unemployment Claims, a key indicator, is released weekly. It measures the number of people who filed for unemployment for the first time during the previous week. A reading which is higher than the market forecast is bearish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on … “USD/JPY: Trading the US jobless claims June 2012”
NZD/USD: Trading the New Zealand GDP June 2012
The New Zealand GDP is a key indicator which measures production and growth in the economy. Analysts consider GDP one the most important indicators of economic activity. New Zealand GDP is published every quarter, magnifying the importance of each release. A reading which is higher than the market forecast is bullish for the New Zealand dollar. Here are all the details, and … “NZD/USD: Trading the New Zealand GDP June 2012”
FOMC Meeting Preview – QE3 Will Wait Again?
US economic indicators have disappointed too many times in recent months. Growth may have stalled altogether. Will this push the Fed to action? Despite the worsening picture, the chances of an announcement of QE3 in the June 20th meeting is still low. Why? Growth: there is no evidence that the economy stopped growing or began … “FOMC Meeting Preview – QE3 Will Wait Again?”