Analitics
SNB surprises markets with aggressive move, EZ crisis intensifies
In a surprising move, the Swiss National Bank (SNB) announced that it will set a floor in EUR/CHF at 1.20. Following the announcement, the pair took off like a rocket ship and is currently up by about 7.76% and trading around 1.2030 after making highs of nearly 1.2190 so far. In its press release, the SNB said it “will enforce this minimum rate with the utmost determination and is prepared to buy foreign currency in unlimited quantities”. The bank went on to say that even at a EUR/CHF rate of 1.20, the franc is still high.
Source: Forex.com
06.09.2011
Big Week Ahead in Asia
A mix of thinned holiday markets and poor Euro sentiment led to a poor showing for the single European currency to start the week. A rash of bearish news has helped to drop the Euro today, including word that Greece has not met austerity conditions for a new trance of aid. Also, news out of Germany wasn’t very helpful for the Euro cause either as Chancellor Angela Merkel’s party was defeated in regional elections and questions remain whether a German constitutional court will pull the plug on the constitutionality of the contributions to the Greek bailout.
Source: Forex.com
05.09.2011
Will gold go to $2,000 and beyond?
The dip in the gold price last week sparked talk of a bubble popping. However, after dropping more than 10 per cent, the gold price has clawed back more than $150 since last Friday.
So the question now is what caused the rebound and is gold back in an uptrend?
Source: Forex.com
02.09.2011
Quiet FX Markets as Equities Melt
Currency markets ended the week in a peaceful fashion despite the fact that equities were disintegrating across the globe.
Source: Forex.com
19.08.2011
Markets wait for US inflation data
The mood in the European equity markets is fairly beak. The Dax has sold off sharply and is down nearly 3 per cent. Likewise, the FTSE is lower by more than 2.5 per cent. Europe’s short selling ban on financial stocks doesn’t seem to be having the desired effect, possibly because it doesn’t include derivatives contracts and also because the market is now focused on the weak outlook for global growth.
Source: Forex.com
18.08.2011
UK outlook deteriorates
The minutes from the latest Bank of England meeting confirmed that the Bank has shifted to a more dovish stance in recent weeks. All members of the committee voted to keep rates on hold, the first unanimous decision by the MPC since October 2010 after Spencer Dale and Martin Weale changed their stance.
Source: Forex.com
17.08.2011
How bad was last week’s sell-off?
After the extreme volatility of last week now is a good time to take stock and consider any technical ramifications of the wild moves in the markets. We will look at the Dow Jones and the AUDUSD in particular.
Source: Forex.com
16.08.2011
ECB reveals amounts of Spanish/Italian debt purchases
The ECB announced on Monday that it had bought a total of EUR 22 bio in bonds of Spain and Italy last week, though it did not give a specific breakdown by country.
Source: Forex.com
15.08.2011
China comes to the rescue
News overnight that China’s economy had expanded by a healthy 9.6 per cent has buoyed markets in the European session. China is growing strongly and is willing to help Europe out, there were rumours yesterday that China had started buying Italian bonds at an auction of 12-month debt, so risk is back on.
Source: Forex.com
13.07.2011
Contagion Fears Continue
With contagion fears once again in the spotlight in Europe, the single European currency saw a stop driven slide to fresh four month lows. With the spotlight of the European debt crisis now focused on the Euro Zone nations of Italy and Spain, the EUR/USD saw follow-through from the earlier New York lows just under the 1.4000 big figure as stops ended the decent near 1.3935.
Source: Forex.com
12.07.2011
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