There probably would have been no sovereign debt crisis if all EU countries consolidated their finances during the “good times”. Unfortunately hindsight is 20/20. Danish ambassador Pultz said his government believed the fiscal treaty was a necessary instrument in the EU’s “common toolbox” and “should be seen as an important part of the EU’s wider […]
The Upcoming EU Fiscal Pact Summit Read More »
Euro Dollar The euro is plunging after FOMC minutes showed that the Fed is not motivated at this time for any bond program or QE. The euro is trading for 1.323 down 0.68% in just a few minutes. Coming up in tomorrow’s US session: [unordered_list style=”green-dot”] U.S. Treasury Secretary Timothy Geithner (January 2009 – January
Market Review April 4 2012 Read More »
As I research each day, I copy or jot down items that I find about currencies, economic indicators, reports and news, so at the end of the day when I have to start to do my fundamental analysis for each of the major currency pairs and several commodities I have easy access to the material
Notes From My Desk April 4 2012 Read More »
Gold futures are likely to edge higher this week in low volume trade, helped by a weaker dollar overseas, though prices could be weighed by poor demand as jewelers’ continue their protest against levies. A director at Commtrendz Research commented: [quote]Improvement in the US economy will drive risk appetite[/quote] The most-active gold for June delivery on the Multi
Gold Sitting On The Sidelines Ahead Of FOMC Read More »
Organization of Petroleum Exporting Countries (OPEC) oil output rose in March to its highest since October 2008 as higher supply from Iraq and further recovery in Libya’s production offset a drop in shipments from Iran. Supply from the 12 members of the OPEC averaged 31.26 million barrels per day (bpd), up from 31.16 million bpd
OPEC March Figures Support Increased Production Read More »
As the Easter Holiday comes closer, volumes will start to quiet down. This year the Easter Good Friday Holiday coincides with a major Jewish holiday, which means volume will be at an all time low. On Friday the US will release the Non Farms Payroll Report, although most markets will be closed. Mainland Chinese bourses,
Markets Get Weird As The Holidays Approach Read More »
Euro Dollar Today, the calendar is thin. In Europe, the Spanish Parliament will discuss the new 2012 budget. This might cause some euro negative headlines and analysis on the country. However, the situation of Spain is already well documented. So, the impact on EUR/USD trading might be limited. In the US, the factory orders will
Market Review April 3 2012 Read More »
Despite the holiday-shortened week in the euro area, US markets remain open on Good Friday and even the payrolls are scheduled for Friday. Ahead of the payrolls, we will receive the non-manufacturing ISM, the ADP report, factory orders and weekly claims. These data should give us a latest update on the economy in the US
It’s All About Jobs In The US This Week Read More »
In 2009, the People’s Bank of China used Shanghai to kick off a trial program to permit Chinese companies to settle cross-border trade in yuan—which has now expanded to include the rest of the country. Once again a new trial program will be launched in Shanghai. The yuan-fund program is “under preparation”, Fang Xinghai, director-general
A New Chinese Currency Initiative Read More »
Forex Markets The Chinese official manufacturing Purchasing Managers’ Index (PMI), which was released Sunday for March reached 53.1 on a 100-point scale, up from 51 for February, according to China Federation of Logistics and Purchasing. The March reading in the official report was the fourth consecutive monthly increase. A final report from HSBC and Markit
Market Review April 2 2012 Read More »
