November, 2012
Boehner Halted Euro/USD Advance
Euro/USD was advancing nicely above the 1.3000 resistance until U.S. House speaker Boehner said there has not been any substantial progress in the fiscal cliff talks. The currency pair quickly retreated to the 1.2940 support level. From the reaction of the markets on the latest news headlines, it looks like currency pair wants to move [...]
Shanghai Index Below 2,000 – Gold Sold Off
China`s Shanghai Stock Exchange Composite Index closed below the 2,000 major support overnight. The Chinese stock market has been performing very poorly comparing to the Chinese economy. China has been attributed as the growth engine for the global recovery since the 2008 crisis, thus at first glance, the Chinese companies stock price seem to be [...]
Euro Lower on Greece Package – Equities Next Direction
Overnight, European leaders cleared the path for the $34.4 billion Euro loan installment for Greece. As stated in yesterday’s article, the markets already priced in this latest bailout plan. Initially, Euro/USD gained some ground on the news but failed to stay above the 1.3000 resistance level. At the time of this article, Euro/USD is trading [...]
Euro/USD Top at 1.3000 and Gold Correction Over?
The Euro/USD latest rally stalled today as the markets monitor the development on the Greece bailout and the U.S. fiscal cliff situation. Euro/USD moved higher during the month of November from the low of 1.2660 to the recent high near 1.3000. The reasons behind this rally were optimism over the Euro zone situation and the [...]
Forecasts for the Weeks of November 26 and December 3
Here are the forecasts for upcoming economic data.
Euro/Yen Maybe a Better Play Than Euro/USD
Euro/USD has been swinging back and forth over the news of a Greece bailout. Last night when the European leaders announced there was no decision made, the currency pair quickly sold off from 1.2810 to the low of 1.2733. As the trading session proceeded and some encouraging news surfaced concerning the bailout, optimism grew again, [...]
Bernanke`s Remarks on the Fiscal Cliff
Today at the New York Economic Club, Fed Chairman Bernanke was calling for the politicians in D.C to deal with the U.S fiscal cliff. His remarks were very plain and to the point. He stated that the Federal Reserve has no tools in dealing with the fiscal cliff and the economy will fall into recession [...]
Implications of a Continuous Drop in Foreign Buying of U.S. Assets
Last Friday`s release of international purchase of U.S. assets for the month of September was down by 96 percent. The net purchase of long-term equities, notes and bonds was $3.3 billion in September as compared to $90.3 billion in August.
Euro Crosses Continue to Correct
Euro crosses have been retracing higher in recent days despite the lingering uncertainties in the Euro zone. Euro/Yen and the Euro/AUD are both slightly above the weekly down trendline. It is too soon to call for a trend reversal but recent news warrant to pay attention to this development.
Top News
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