Market Analysis

MARKET OVERVIEW 2012-12-18 23:04 GMT Standard & Poor’s upgrades Greece from selective default to B- outlook stable Two weeks later after credit agency Standar & Poor’s downgraded Greece to selective default, it has lifted again the rating to -B, two notches higher than expected back in December 05 when the initial downgrade took place, on […]

MARKET OVERVIEW 2012-12-17 16:40 GMT Fiscal Cliff Talks Thaw It seems that Republican stances are softening as the clock ticks down to the New Year, and the US approaches the activation of the Fiscal Cliff. In the newest round of discussions, Republican leaders led by House Speaker John Boehner have conceded to allowing a tax

MARKET OVERVIEW 2012-12-14 07:00 GMT U.S. Fiscal Cliff: Republican leadership softens stance on tax rates The Fiscal Cliff negotiations are showing signs of progress after the weekend brought an offer from GOP lawmakers to allow tax rates to rise on those making more than $1mn; President Obama had been demanding that tax rates rise on

MARKET OVERVIEW 2012-12-14 07:00 GMT Leaders debate EMU consolidation after bank supervision deal In order to achieve the completion of EMU, the 27-countries bloc made further progress on the roadmap to achieve such goals, after the agreement for a Euro bank supervisor by the ECB earlier on the week, which will police north of 200

MARKET OVERVIEW 2012-12-13 07:15 GMT Deal on ECB to oversight top EZ banks by end 2013 After the agreement among EU finance ministers to allow the ECB to supervise banks in the Euro-zone, a stream of follow-up headlines continues via Reuters, saying that the ECB new supervisory role should be up and running by end

2012-12-12 07:15 GMT Greek banks tender rest of Greek debt holdings to help reach buyback target According to reports, Greece has reached the bond buyback target at 31.5 billion euros on Tuesday. The deadline for submitting bids was extended by one more day yesterday, due to the inability to reach the expected 30 billion euros

2012-12-11 07:10 GMT Silvio Berlusconi Makes Trouble For EURUSD Bulls Although the single currency is higher on the day, it’s abundantly clear that the recent resignation by Italian Prime Minister Mario Monti is keeping Euro bulls at bay. The prime minister is now scheduled to step down following the 2013 budget vote taking place before

2012-12-10 07:14 GMT Italian PM Monti announces intention to resign; early elections likely in February The political news coming from Italy, in which current primer minister Mario Monti plans to resign once the 2013 budget goes through parliament and is approved, are not sitting well with the Euro, as investors anticipate it may lead to

2012-12-06 16:46 GMT ECB, Berlusconi Hit EURUSD Hard Lower by 0.73% in the morning session, the EURUSD is being weighed down by major developments in Europe. Specifically, sparks of political instability in one of the troubled EU members, as well as a pessimistic outlook on Europe’s growth potential is making it difficult for traders to

2012-12-05 22:41 GMT S&P downgrades Greece to selective default In an unsurprising headline, reflected by the marginal losses in EUR/USD since the news broke, the rating agency S&P has downgraded Greece’s long-term debt rating to selective default from CCC. Greece is technically default. The Greek government invitation to private sector bondholders involvement to participate in