mynameisandhy Posted July 19, 2011 Author Report Share Posted July 19, 2011 News and Overview of the European Economic Zone The euro adopted by statement of Greece Finance Minister Tuesday, July 19, 2011 The euro strengthened against the dollar after Finance Minister Evangelos Venizelos said Greece an agreement to resolve the debt crisis of Greece can be achieved in meeting the European Union. He said the solution can be achieved because this does not only concern Greece, but also the euro and the stability of the euro. Therefore, protection against Greece is a defense mechanism for the eurozone. It can help avoid a domino effect. Eurozone leaders will meet in Brussels Thursday to discuss the bailout both Greek and solutions debt crisis. This meeting was held during the crisis anxiety of the Greek market could spread to other countries. Underscoring that concern, Italian and Spanish bond yields soared, and the difference with German bonds reached a record high. The euro was also lifted by a statement of the ECB council member Ewald Nowotny indicating ready to compromise on the use of Greek bonds as collateral. At 16:51 hours GMT, the euro traded at $ 1.4182, up from $ 1.4103 the previous closing level. Against the yen, the euro rose to 112.02 from 111.48. Euro stable against sterling at 0.8795. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 19, 2011 Author Report Share Posted July 19, 2011 News and Overview of the European Economic Zone (Portugal) Portugal Losing Patience In Europe Tuesday, July 19, 2011 The new Prime Minister of Portugal Pedro Passos Coelhom, stating his complaint to the President of Eurogroup Jean-Claude Juncker. This is quite reasonable considering the European Union's response is quite slow in providing aid to the EU member states are heavily in debt. Portugal the higher unemployment figures along with swelling debt, so far observed level of unemployment reached 12.4%, while the Spanish at the level of 20.9%, Greece 15%, Ireland 14%. High unemployment causes productivity to deteriorate, the public debt reached 330% of GDP, one of the largest in the world. Germany's biggest lender actually exacerbate the situation by forcing Portugal, Greece and Ireland to pay the interest penalty skitar 200 to 300 basis points as the cost for funding through the mechanism of EU bailout. Impact, the current account deficit Portugal stagnated at the level of 8% this year, while the budget deficit at 8.7% until the first quarter. It's tragic fate suffered by Portugal, in the near future if the country is not able to implement fiscal austerity measures, the risk of default will be higher and push the EU as a whole. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 20, 2011 Author Report Share Posted July 20, 2011 News and Overview of the European Economic Zone Risk Barometer Up to Record High Wednesday, July 20, 2011 Benchmark currency traders fear getting jumped indication of the expectations index volatility euro swiss franc exchange rate which reached levels of 14.8, the highest in the last 2 years. The increase in foreign exchange risk barometer is due to fears of further against European debt problems and negotiating loan ceilings increased U.S. government is hampered by political negotiations. A week ago, these volatility expectations index was above 14 memroket from level 11.5, as the European financial crisis that has been running 15 months began to appear clearly in Greece, Ireland, Portugal and Italy as well as the risk of spreading the material into Spanish. So far the increase in demand for option contracts 'bearish put' to the euro the dollar ahead of an emergency meeting of European results indicate the position of the investors are ready for the worst scenario. However, on the one hand, this can also affect the opposite if the European leaders managed to calm the markets and investors, the euro can go back, especially against the Swiss franc soared. In the pair USD / CHF itself technically, indicating a bearish bias in the short term, where the 0.8230 - 0.8270 is a good enough level to put a short position with stop loss sell short, because the upward movement is still tentative, but if successful could stop the translucent above 0.8270 current bearish outlook. On the bottom side, the nearest support level at 0.8190 area. Fell below that area could trigger further bearish momentum after the next technical target at a record low level of 0.8080. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 20, 2011 Author Report Share Posted July 20, 2011 News and Overview of the European Economic Zone (Switzerland) USDCHF Fighting Hard Switching from Bearish Trend Wednesday, July 20, 2011 USDCHF could continue its bullish correction this morning, touching 0.8259, but traded lower at 0.8212 so far. The bias remains bearish in the short term, with a good level to put short selling in the range 0.8230 & 0.8270 with tight stop loss, because the translucent over the area may threaten the bearish outlook and potentially continue the upward correction. On the bottom side, the nearest support level at 0.8190, fell below that area could trigger further bearish momentum to test 0.8080 area and even record low 0.8020. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 20, 2011 Author Report Share Posted July 20, 2011 News and Overview of the European Economic Zone (UK) GBP / USD Potentially Stronger Post-fading prospects QE2 UK Wednesday, July 20, 2011 Pound sterling currency pushed up, having indicated the lack of quantitative easing program opportunities. Regarding interest rates, seven members of the MPC board chose not to change interest rates, while two others chose to raise interest rates such as estimates of the market. Minutes of the MPC meeting showed the board members are reluctant to raise interest rates and tend to wait for the inflation rate declined at the same time the UK economy has no room QE2. This is the major factor supporting rising currency pair GBP / USD to as low as 1.6140 from 1.6067 lows today. Based on the study of technical, intraday bias remains neutral in the short term, especially after the price has not been out of the triangle formation on the graph H1. The top line of the triangle in the range of 1.6195 is still a strong resistance area, aggressive trader can put his short-selling positions in the area with tight stop loss. On the bawahmya, the nearest support level at 1.6060 area, fell under the area could trigger further bearish pressure lanut testing key support area 1.5990 - 1.5950 and transform into a bearish intraday bias. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 21, 2011 Author Report Share Posted July 21, 2011 News and Overview of the European Economic Zone (UK) Outlook Still Gloomy Despite UK Retail Sales Rise Thursday, July 21, 2011 Retail sales rose in June, but not enough to relieve market concerns the recovery outlook for the UK economy going. Retail sales increased 0.7%, better than forecast 0.5% but still less to Balance decline the previous month reaching 1.3%. British society is now feeling the worst earnings decline in 30 years due to rising food and energy prices, high taxes, slow wage increases, and cuts in government subsidies. Nationwide surveys show consumers pessimistic in June. Nationwide consumer confidence index fell to 51. The CBI survey also show retailers are also more pessimistic about business prospects. Bank of England has warned of economic growth will remain weak during the summer. British finance minister, George Osborne, state-euro zone debt crisis provided an additional threat to Britain's economic prospects is difficult. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 21, 2011 Author Report Share Posted July 21, 2011 News and Overview of the European Economic Zone (Switzerland) USDCHF Moving Ahead Narrow EU Summit Thursday, July 21, 2011 The U.S. dollar managed to keep strengthening against the Swiss franc on Thursday due to the defensive attitude of investors ahead of EU summit which will be reported at around 21:00 pm. Observed so far gained 0.25% traded at 0.8215, 0.8236 after reaching its highest point. In the last few hours moving very narrow between 0.8211 to 0.8225. From the economic side of the currency Swiss Franc pressured by weakening economic sentiment significantly Switzerland in July fell to its lowest level since January 2009 on concern the strengthening of the Swiss franc to a new record level as well as sovereign debt crisis in the euro zone. Another factor that affects among others report a contracting trade surplus exceeded expectations, due to the increase in exports exceeded imports. Based on the study of technical, intraday bias remains bullish, especially after a bullish divergence is indicated on the graph Daily, targeting at least in the short term target of 0.8330. However still required penetration consistently above 0.8230 area to trigger further bullish momentum. On the bottom side, the nearest support level lies in the area 0.8180 - 0.8150, fell below that area can transform into a bearish intraday bias to test a new record low levels below 0.8080. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 21, 2011 Author Report Share Posted July 21, 2011 News and Overview of the European Economic Zone (Spain) Spain To Pay Expensive Auction Obilgasi Thursday, July 21, 2011 Spain must pay more when auctioning bonds; is certainly going to impose on Europe meeting trying find a solution to solve the debt crisis. Spain managed to get the funds? 2.61 billion, still within the target range? 1.75 -? 2.75 billion. However, the 10-year bond yield and the 15 years up respectively to 5.896% and 6.191%, higher than the previous auction of 5.395% and 6.027%. This is the most expensive auction fees to be paid the Spanish in 1997, before the launch of the euro. Investors seemed to worry the Spanish could become the next victim of financial crisis, follow the trail of Greece, Ireland, and Portugal. European leaders will meet tonight to approve a rescue package of both Greek and other measures to stop further spread of the crisis. "Auction this time is a punishment severe enough for Spain," said Marc Ostwald, a strategic Monument Securities. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 22, 2011 Author Report Share Posted July 22, 2011 News and Overview of the European Economic Zone (France) July French Business Sentiment 105 Vs 110 In June Friday, July 22, 2011 French business leader in the manufacturing industry was more pessimistic in July, because they are afraid to slowdown their individual prospects and those of their industry, according to data released Friday by national statistics offices. According to Insee, the French business sentiment index for the manufacturing industry fell to 105 in July from a revised 110 in June, below expectations reading of 108, according to Dow Jones Newswires survey of economists. Index in June had originally estimated 109. Insee explained that in July, business leaders grew worried about their order books and order in general. They also became concerned about the stock, which looks smaller than before. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 22, 2011 Author Report Share Posted July 22, 2011 News and Overview of the European Economic Zone (Germany) German Ifo Business Climate Index in July Fall Friday, July 22, 2011 German business optimism fell in July to a low level of nine months as companies said they anticipate slower growth in exports and less optimistic about the retail and wholesale business, the German Ifo research institute said Friday (22). Business optimism fell to 112.9, slightly its estimate of economists outside the 113.8 for the month, the research institute in Munich said. In June, business optimism rises for first time since February to 114.5. More optimistically, Ifo said that capacity utilization in manufacturing increased since the spring and the company still plans to hire more staff. Improved business climate in construction, Ifo said. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 22, 2011 Author Report Share Posted July 22, 2011 News and Overview of the European Economic Zone European Stock Gains Post-Bailout Deal Greece Friday, July 22, 2011 European stock markets on Friday tertopang driven by the strengthening of the banking sector after investors responded positively to the European Union officials plan to reduce Greece's debt problems and prevent the spread to the region. European officials have reached an agreement yesterday to overhaul the financial rescue fund in order to reduce pressure on Greece and other European countries is problematic for several months. But other analysts are still skeptical on sentiment risk appetite, and saw only a temporary rise in line with the talks that the U.S. debt ceiling increases have not produced a new agreement. Looking ahead a few investors still waiting for earnings reports among other big European banks, Deutsche Bank, UBS, Credit Suisse and Banco Santander. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 25, 2011 Author Report Share Posted July 25, 2011 News and Overview of the European Economic Zone Euro Outlook Still Negative, Greek debt rating more muddy. Monday, July 25, 2011 In forex trading the Asian session today (25-07), the Euro is generally observed in the pattern of sideways and slightly weaker against several other major currencies. This is reflected in the index movement euro edged down about - 0.02% on forex trading. The achievement of agreement with European leaders to do the bail out of Greece, have not been able to convince investors to back Greece's public debt rating lowered, this time by Moody's Investors Service. Long-term foreign currency debt the country is sheared three levels to Ca from Caa1. Analyst Research Vibiz of Vibiz Consulting suggests the market briefing ahead of the European session today that the outlook of the euro still be negative. On the intraday movement of the euro currency has the potential to respond to reports the National Bank of Belgium is scheduled to release its latest data Belgium NBB Business Climate indicator at 20:00 (GMT) later. The indicator is expected to show negative performance and the estimated down to - 2.2 from the last period is - 1.1. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 25, 2011 Author Report Share Posted July 25, 2011 News and Overview of the European Economic Zone (UK) Thin Sterling Rebound Ahead of Housing Data Release. Monday, July 25, 2011 Recent data BBA Mortgage Approvals indicators scheduled to be released by the British Bankers' Association, is expected to show a positive indication of developments in the UK economy. The impact of data releases to trade GBP / USD this afternoon (25-07), which monitored the movement of the strengthening pound sterling currency rebounded on a limited range of movement intraday. The forex market responds to this by encouraging early GBP / USD so it is in the range 1.6284. Recent data BBA Mortgage Approvals indicator is expected to increased to 31.3K from 30.5K. Analyst Research Vibiz of Vibiz Consulting suggests that the pound is still potential to further strengthen especially up until the data is actually released. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 25, 2011 Author Report Share Posted July 25, 2011 News and Overview of the European Economic Zone U.S. Debt Worries Crush European Market Sentiment Monday, July 25, 2011 European stock exchanges began trading this week from negative territory following the outbreak of post-action avoid the risk of the U.S. debt limit increase discussion between Democrats and Republicans are again deadlocked. Financial stocks were among the sectors that showed the worst performance, with the Stoxx Europe 600 banking index fell to 2% so far. In Britain, the FTSE slipped nearly 1% in the first 2 hours of trade, while the German DAX and French CAC each recorded a decrease of 1% and 0.33%. U.S. lawmakers still plan to outline proposals on Monday, but both sides appear further apart than ever. "The market expects the achievement of an agreement. I do not think the U.S. debt default has been fully discounted by the market," said Keith Bowman, equity analyst at Hargreaves Lansdown. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 28, 2011 Author Report Share Posted July 28, 2011 News and Overview of the European Economic Zone (Germany) Germany Confident U.S. Will Finish Problems Thursday, July 28, 2011 Germans believe U.S. lawmakers could reach an agreement to raise the debt limit, according to Finance Minister Wolfgang Schaeuble. This comment is in line with market expectations after the global stock markets slumped yesterday due to widespread fears that Washington will fail to break the deadlock so it can be caused by default. "I remain confident a solution will be found, even if it might happen at the last minute," said Schaeuble in an interview with German newspaper Passauer Neue Presse. "Although the solution given only short term and is unlikely to solve the U.S. problem, especially the high debt burden and the economic outlook; but the U.S. still have to find a long term solution to fiscal policy and solid growth." Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 28, 2011 Author Report Share Posted July 28, 2011 News and Overview of the European Economic Zone (Greece) Trichet: Do Speculation On Default Greece Thursday, July 28, 2011 Greece is speculated to be the default action is sure to lose money, says ECB President Jean-Claude Trichet. "Speculation as it is a sure way to lose money, especially after the European decision last Thursday," said Trichet told the magazine Le Point. Euro trying to recover from the downturn after the news was released; EUR / USD now traded 1.4292, 1.4269 away from the daily low levels. Euro-zone leaders have agreed a second bailout for Greece worth? 109 billion. However, the market worried about the ability to stop the contagion ESFS further Greece's debt crisis. Sentiment was not yet agreement worsen as U.S. lawmakers to raise the debt limit. Reuters survey also showed a majority of analysts (31 of 50 respondents) consider European policy will not solve the crisis. Trichet see European decisions taken an important step for the stability of the euro-zone finance. However, Trichet also express Greece must work hard to fix the economy. "When compared with international debt problems, the condition of Europe is still better than Japan or the U.S.," said Trichet. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 28, 2011 Author Report Share Posted July 28, 2011 News and Overview of the European Economic Zone (UK) Sterling Stable After 'zig-zag' Due to Data Thursday, July 28, 2011 Sterling re-engaged as stable as in the range of the afternoon session on Thursday after terpontang skelter due to the emergence of disappointing economic data. GBP finally drove back in the range of 1.6320-30 area after slumping to a zig-zag pattern due to the release of the CBI Distributive Trade data that appears below expectations in the previous figure of -5 -2. Previously Sterling also rocked by the CBI data trend order or request an order number UK manufacturing industry which appears disappointing. Consequently the data adds to a long list of economic data in Britain are poor, and strengthen the economic outlook bleak view of Britain. While the Bank of England still expected to hold interest rates at a record low of 0.5% until the end of the year with increasing concerns over the fragility of Britain's economic recovery. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 29, 2011 Author Report Share Posted July 29, 2011 News and Overview of the European Economic Zone (UK) Pound Attempting to Revive 1.6300 Friday, July 29, 2011 Cable downward momentum in the European session on Friday it now appears to subside so close to the level of 1.6260, which push the GBP / USD again rising to an area of 1.6300 ahead of key U.S. economic growth data. Although the overall record is still weak throughout today's trading, the U.S. debt problem discussion deadlock in Washington was still providing adequate support for GBP / USD to limit the decline in deeper water. But in case currency pair slipped back to penetrate the low-level daily, then it might be the closest support can be found in the area of 1.6200 (psychological level) and 1.6121 (low July 21) and 1.6069 (low July 20). In contrast, the nearest resistance level at 1.6374 (daily high), followed by 1.6428 (July 26 high) and 1.6471 (high June 7) Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 29, 2011 Author Report Share Posted July 29, 2011 News and Overview of the European Economic Zone Euro Distressed European Crisis Friday, July 29, 2011 The new concerns about the ability of Europe to avoid financial disaster has hit the single currency Euro, while the debate is to forget the chaos of the U.S. debt crisis as investors anticipate the euro zone reached the worst condition. Analysts see a rise in bond yields Italy and Spain is an indication of concern among market participants that the crisis could spread to Spain and Italy. Observed so far yield bonds with a tenor of 5 years Italy rose to 5.82% from 5.68%, even tenor of 2-year bond rose to 4.20%, well above the 3.5% interest rate promised by the European leaders of the Greek government. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 29, 2011 Author Report Share Posted July 29, 2011 News and Overview of the European Economic Zone U.S. Debt Haunting Continues European Exchanges Friday, July 29, 2011 European stocks still continuing decline in trading Friday, as U.S. lawmakers failed to break the deadlock in the discussion of the U.S. debt ceiling increase sparked fears that defaults on the world's largest economy. Investor sentiment risk is also damped by a series of disappointing corporate earnings, plus a warning that ratings agency Moody's was reviewing the state's credit rating for possible downgrade following the Spanish weak growth and the strong funding pressures experienced by the country. The Stoxx Europe 600 index slipped 1%, while the German DAX and French CAC40 each losing 0.8% and 0.85%. In Britain, the FTSE fell about 0.7% observed in the first 2 hours of trading. Republicans are still trying to fight for their budget deficit cutting plan after the leaders of the House of Representatives, John Boehner, failed to gain enough support in the discussion on Thursday, sparking fears that the deal will not be achieved before the deadline August 2. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted August 1, 2011 Author Report Share Posted August 1, 2011 News and Overview of the European Economic Zone U.S. Manufacture Bad Data, European Stock Market Decline Monday, August 1, 2011 UK stocks fell for a second day after a report showed that U.S. manufacturing is at the slowest pace in two years, overshadowing the revenues exceeded estimates at HSBC Holdings Plc. (HSBA) Lloyds Banking Group Plc (LLOY) and BAE Systems Plc (BA /) fell more than 2% after the Institute for Supply Management's index of U.S. factory down. Laird PLC (LRD) slumped 15% after Cooper Industries Plc pulled the proposed takeover bid. HSBC, Europe's largest bank rose to its highest level in four months. FTSE 100 Index (UKX) lost 40.76, or 0.7% to 5774.43 at the close at 4.30 in London, after earlier rising 1.7%. The index has fallen by 5.2% from its high this year was on February 8, amid speculation that the European debt crisis will spread and as concerns mounted that U.S. lawmakers will fail to agree on increasing the federal debt limit. FTSE All-Share Index also dropped 0.7% today, while Ireland's ISEQ Index dropped 2.3%. ISM Manufacturing Index fell to 50.9 in July from 55.3 in June. Economists predict that the index would fall to 54.5. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted August 1, 2011 Author Report Share Posted August 1, 2011 News and Overview of the European Economic Zone (Switzerland) Worried Downgrade U.S., Swiss Franc Strong Monday, August 1, 2011 Swiss franc strengthened against the pound, dollar and euro as fears that the U.S. government debt will be reduced. This has sparked demand for the Swiss franc against the currencies that are considered safer. Standard and Poor's said in July last that will probably cut U.S. debt rating if there is no credible plan to reduce the deficit. "We will not see a significant weakening of the Swiss franc until the deal is enough to calm markets by looking at the condition of the U.S.," said Kit Juckes, head of forex research at Societe Generale SA in London. "The threat to cut U.S. ranking has not gone away, and investors will be looking for a safe haven." Switzerland's currency rose 0.5% to 78.14 centimes per dollar at 4:35 pm in London after hitting a record 77.31 cents previously. Swiss Franck jumped 1.8% to 1.11109 per euro after reaching a record 1.10284. The currency also rose 1.4% against the pound to 1.2724. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted August 1, 2011 Author Report Share Posted August 1, 2011 News and European Economic Review (UK) Under the sales drop GBPUSD 1.6400, 1.6340 Potential Target Monday, August 1, 2011 Slow economic growth is still putting pressure on the currency pair GBP / USD in line with the fear of economic contraction as it did in Q4 2010. After moving sideways since the Asian session, GBP / USD finally fell below 1.6385, touching its lowest intraday level and getting away from the highest two months at 1.6475 area due to the loss of momentum. Technically speaking, intraday bias remains bearish after prices failed to penetrate above 1.6475 key resistance area, at least targeting 1.6340 area in the short term. Fell below that area should be able to add further bearish pressure testing the 1.6280 support level. On the upside, only the movement of turning over a new area of 1.6475 can change the bias to be bullish intraday target the 1.6560 area / level of the peak month of May has historically been able to hold prices to rise as much as three times in the period of June. Overall bearish scenario is still more dominant during the last price below the 1.6560 area. Quote Link to comment Share on other sites More sharing options...
Flynchenberg Posted August 2, 2011 Report Share Posted August 2, 2011 I agree :) LOL Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted August 2, 2011 Author Report Share Posted August 2, 2011 News and European Economic Review (Switzerland) Swiss franc, U.S. dollar rises Related data, Debt Tuesday, August 2, 2011 Swiss franc surged on Monday and the U.S. dollar strengthened against the euro, with the demand for safe-haven currencies will continue amid concerns about slowing global economic growth and the possibility of cutting U.S. credit rating. U.S. manufacturing grew at the slowest pace in two years in July, the Institute for Supply Management said its doubts on recovery hopes will quickly re-waver. In Europe, the euro zone manufacturing PMI also fell in July for two-year low and perhaps more worryingly, the Chinese government's official PMI also fell to its lowest level in two years. The initial euphoria about the U.S. Congress approved a deal to increase loan limits faded as investors worried that the country might lose triple-A credit rating even though it appears the risk of default. Euro dive record lows against the Swiss franc at 1.1030 on trading platform EBS, and last traded down 1.3 percent at 1.1171 francs. The dollar reached as low as 0.77323 Swiss francs, before pulling back to 0.7834, down 0.2 percent on the day. Quote Link to comment Share on other sites More sharing options...
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