March, 2012
S&P Said Greece Needs More Debt Restructuring
Remarks from the S&P rating agency stating that further restructuring is needed in Greece continues to put pressure on the markets. The Euro, equities and gold are extending losses for the third straight day. As pointed out on Monday’s article, the markets ran up on Bernanke’s stance on “accommodative” policies by the Fed; however, the [...]
Monday`s Rally Losing Steam
The rallies on Monday from Fed Chairman Bernanke’s comment begin to fade. The Euro/USD, gold and the Dow Jones Industrial Index failed to break their respective resistance levels and began retreating.
Quiet Markets -Yen is Weaker
There is little change in the markets after yesterday`s rally. The only mover today is the USD/Yen, which strengthened in today’s session. Like most Central Banks, the BOJ does not desire a strong currency. The SNB made it very clear that 1.2000 is the limit for Euro/CHF. The Federal Reserve, through its monetary policies, has [...]
Bernanke Injected another Dose of Steroids into the Markets
Bernanke reiterated today that the Federal Reserve`s “accommodative monetary policy” will continue despite the improvement in the economy. The Fed will keep interest rates near zero until 2014 citing there is still “significant downside risks”.
Economic Outlook for 2012
The economy grew at 3 percent annual rate in the 4th quarter, but first half growth is likely to disappoint, renewing upward pressures on unemployment.
Euro/CHF 1.2000- Line in the Sand?
Last year, the Swiss Central Bank intervened in the CHF to prevent the currency from increasing in value. However, that only worked for a short period of time as we see the CHF gaining strength again in recent weeks.
China Contracting and Goldman Said to Sell USD/Yen
Overnight, China’s manufacturing data showed a slowdown in the Chinese economy dragging global markets lower today. Concerns over the Chinese economy is nothing new and recent economic data out of China does suggest the Chinese economy is contracting. The Shanghai index is slowly giving up recent gains and is trading below the 2,400 level. The [...]
Sideways Markets for Now – Waiting for the Next Move
Gold is holding steady above $1,640 support since last week`s sell-off from $1,714. It has been sideways trading for a week with a range between $1,640 to $1,670. Resistance for gold is seen at $1,680 followed by $1,710. Support lies at $1,640 followed by $1,600 with major levels in the low $1,500’s areas.
Euro – Gaining
Euro/USD is trading at the first resistance level of 1.3230 at the time of this article. The Euro is gaining ground versus the USD due to some short covering and establishing new “risk trades” in the Euro/Yen. Moreover, tensions in Greece and Europe have lessened in recent days, which could be a positive psychological factor [...]
Top News
- Bernanke signals Fed to maintain stimulus efforts May 22, 2013WASHINGTON (AP) — Chairman Ben Bernanke told Congress Wednesday that the U.S. job market remains weak and that it is too soon for the Federal Reserve to end its extraordinary stimulus programs. […]
- Analysis: As economy strengthens, a bonds sell-off may beckon May 22, 2013By Ellen Freilich NEW YORK (Reuters) - The U.S. government bond market has weakened in recent weeks but some investment strategists fear that this may only be the beginning of an extended sell-off. They point to the relative strength of the U.S. economy with the labor market stronger than anticipated, retail sales rising and consumer sentiment climbing to it […]
- EU leaders discuss fight against tax evasion May 22, 2013BRUSSELS (AP) — European Union leaders on Wednesday sought to advance their fight against tax fraud and close the loopholes for large corporations' tax avoidance schemes. […]
- Fiat Industrial says 500 million euro tax loss reports false May 22, 2013MILAN (Reuters) - Italy-based truck and tractor maker Fiat Industrial said reports that Italy would lose more than 500 million euros in tax receipts as a result of its moving fiscal domicile to the UK after a merger with unit CNH were absolutely false. According to U.S. stock exchange regulatory filings dated May 14, Fiat Industrial aims to be treated as a U […]
- Boeing expects 787 battery retrofits done by next week May 22, 2013WASHINGTON (Reuters) - Boeing Co is 90 percent finished with retrofits of the battery system on its 787 Dreamliner and should finish the rest by next week, Ray Conner, president of the company's commercial airplane division, told an investor conference on Wednesday. Conner told the conference he saw "great momentum" on the 787 program, after o […]