Posts Tagged ‘Crisis’
Source: ForexYard
The initial response to the attacks in Oslo last week was a quick sell-off in Norwegian assets as investors fled uncertainty. The show of support by the Norwegian public, and solid economic numbers, however, has helped the Scandinavian giant regain much of its initial losses, and then some.
Reports by Norway’s Manufacturing Purchasing Managers Index [...]
Breaking news this morning is the announcement that there has been a major “breakthrough” in the Greek debt crisis. Germany has apparently agreed to another rescue package and it is rumored that the IMF forced their hand in the matter.
This is seemingly good news for the Euro today, as it is continuing yesterday’s gains. However, [...]
Quote of the day: “Disbelief in magic can force a poor soul into believing in government and business.” - Tom Robbins
EURUSD: 1.4140 @06:52 GMT
Good morning. The euro continues to fall across the board as the Greek crisis intensifies, reaching lows below $1.41, after losing 300 points yesterday. Now that most interim support levels have been broken, [...]
Source: ForexYard
Weekend risk is back on the table as Spain returns to the headlines.
Traders worry Socialists in Spain will be defeated in both local and regional elections and has created unease for euro bulls. A new government in Spain might be more inclined to reveal government financial inconsistencies and previous shortfalls in the Spanish budgets.
European [...]
I assume he refers to the sovereign debt crisis, though the headline is not specific…
Italy needs significant spending curbs to fix public finances
The presumptive next head of the ECB, when Draghi talks, we listen…
EUR/USD is finding good buying on dips to the 1.4775/80; sellers on rallies toward 1.4840/50…rinse, repeat.
Quotable
“According to some analysts, the austerity measures demanded Greeks rival the measures Germany faced in 1930-31, which helped open the door to Adolf Hitler. The irony is that as these measures have not been adequate, Brussels has resorted to Plan B. The middle class of the strong northern European economies, led by Germany, is being [...]
Sustainable fiscal policies are essential to monetary union
Monetary policy cannot be considered as a remedy for irresponsibility of other policies
Europe needs more stringent fiscal coordination, macroeconomic surveillance mechanism, robust crisis management
Sounds like a man running for the top spot at the ECB…
Quote of the day: “Blessed are the young for they shall inherit the national debt.” – Herbert Hoover
EURUSD – 1.3537 @05:40 GMT
Trading strategy: looking to sell at 1.3500, initial stop at 1.3560 (0.5% risk), objective open.
Support at 1.3500 still holds but the downside remains under pressure as the Euro-zone debt problem is again the main [...]
In typical fashion , many financial advisers are encouraging investors panicking over the escalating turmoil in Egypt to sit tight, at least for now. But for those who believe things will only get worse, there are investment moves that could either boost returns or protect a portfolio — and in some cases do both.
One strategy: [...]
Grounds for cautious optimism on economy, not on fiscal crisis; too early
EU on right track with reform of fiscal rules
Governments must cut debt, deficits systematically, sustainably
German GDP may rebound to pre-crisis level by year-end
