During early Asian session, oil futures prices are trading above $80/bbl with marginal gain of 0.30 in electronic platform. As per National Hurricane Centre, US tropical storm Debby formed on yesterday in Gulf area is slowly dissipating. Currently 50 knots are there, however it’s not expected to strengthen further. Thus, gains in oil prices are […]
The surprise of the morning, newly elected Greek Prime Minister and the new appointed Greek Finance Minister, have both become too ill to attend the EU Summit this week. At this time Greece will not be represented. New flow today will be centered on the EU meetings and Spain’s official request for financial assistance. Otherwise
The Surprise of the Morning Read More »
The Greek government made its re-negotiation platform (for talks with the Troika) public. They ask to extend the deadline for meeting the fiscal criteria by 2 years. They also want to scrap plans to cut 150K public sector jobs, repeal the 22% cut in the minimum wage and raise the income tax threshold. They apparently
Before the EU Summit Greece Makes its Demands Public Read More »
On the global arena, key summit of the European Union (EU) is scheduled on 28 and 29 June 2012 to discuss the ongoing European debt crisis. At the upcoming EU summit, European officials may reportedly launch the long process of deeper integration within Europe, starting with a push for a banking union, with the aim
Market Review June 25 2012 Read More »
Asian markets are trading on a negative note today on the back of slowing US economic growth coupled with downgrade of world’s largest 15 banks by the Moody’s credit rating agency. The major banks include are Credit Suisse, Morgan Stanley, UBS AG and 12 other global bankers. US Unemployment Claims declined by 2,000 to 387,000
Market Review June 22 2012 Read More »
Asian equities are trading down by nearly a percent after weak western counterparts and weak economic development. The Chinese bourses are closed due to dragon-boat festival and metals may remain mostly subdued due to lack of downstream demand. Further, from the Euro-zone, Greece pro-bailout parties are forming the coalition while it needs to ensure austerity
Whats the story with Gold Read More »
On Thursday morning, EUR/GBP traded more or less in line with the development of the headline EUR/USD pair. The pair traded in the high 0.80 area at the start of trading in Europe. The euro came under pressure early in the session as the Germany PMI disappointed. The UK retail sales were marginally better than
The EUR/GPB Technical Speaking Read More »
Overnight, Asian equities are also in the red, but the losses are not really excessive, given the sharp loss in the US yesterday evening. EUR/USD holding near yesterday’s closing levels in the mid 1.25 area. Today, there are no important eco data in the US. So the focus will remain on global economic growth and
Event Risk for the EUR/USD Today Read More »
Disappointment with the Fed decision yesterday weights heavily on Crude Oil. Crude has dropped to 80.39 and looks to break under the 80 price level. Not only did the Fed only do the bear minimum yesterday, by extending Operation Twist, they revised growth forecasts for the US, which has a negative effect on energy. Lower
Crude Oil Tumbles On Fed Statements Read More »
Equities showed some volatility surrounding the decision, but closed nearly unchanged. US Treasuries were down ahead of the decision and some curve plays occurred, according to the twist script, which led to an outperformance of the long end and a bear flattening in the 5 to-30-year segments. EUR/USD fell first lower, then spiked higher, before
Deciphering Fed Speak Read More »
