Forex News
Europe’s Banks Ready for Worst
…control and one or more countries leave the euro zone, a sign of the financial sector’s increasing worries over the continent’s plight. Some banks recently have been reining in some cross-border lending to companies in countries like Spain and Italy, bank…
New Zealand activist detained in Israel
…detention centre and had been visited by Australian officials on behalf of New Zealand. She was to be deported to Athens. New Zealand embassy staff are also in contact with Israeli authorities over the incident. Auckland-based activist John Minto says Ms Porzsolt…
Sell GBP/CHF On Break of 1.3204
…considering the Swiss Franc’s role as a reserve currency, coupled with falling rate hike expectations after the United Kingdom’s worse-than-expected consumer price index print, the fundamental picture is clearly in favor of further GBP/CHF pair weakness. United…
Ireland’s debt rating cut to junk by Moody’s; euro slides
…after being up as much as 65 points. The euro fell to $1.397 from $1.403 on Monday. The currency has fallen from $1.453 a week ago. While European authorities still are wrestling with bailouts of Greece, Ireland and Portugal, the “contagion” from the debt…
Yields down on euro zone debt crisis
…Further downside looks possible if the Euro zone stays under pressure,” a senior dealer with a foreign bank said. Do you like this story? Hope that the Federal Reserve might consider more economic stimulus wasn’t enough to keep bad news about Ireland from…
Toronto beats Vancouver as Canada’s costliest city
…majority of cities in the top 20 were in Europe and Asia. Sao Paolo and Rio de Janeiro were the most expensive cities in the Americas as Brazil’s currency also strengthened “significantly” against the U.S. dollar, the survey said. New York is the most expensive…
Euro Could Decline to mid 13700s This Week
Senior Technical Strategist Jamie Saettele covers current trading setups. The mid 13700s is important for the EURUSD this week.
Canada’s realty market growing
…Canada’s booming condominium market, which has filled the skylines of its biggest cities with cranes and prompted a warning from its central bank, may well avoid the type of crash that has hobbled the industry in the past. Canadian housing sector surge follows…
Europe steps back from the abyss, for a day
…responsibility of EU governments and the eurozone’s €440bn rescue fund. Berlin has so far refused to pick up the baton. It has until now blocked use of the fund or European Financial Stability Facility (EFSF) for capping yields by purchasing the bonds…
New Zealand activist in flytilla arrested in Tel Aviv
…boat in the Freedom Flotilla along with New Zealander Harmeet Sooden) which was one of the boats which was turned back by Greek coast guard. She is currently being held in a detention centre in Tel Aviv and according to Australian DFAT she will be deported…
EBRD extends 8M euro credit line to Raiffeisenbank Bulgaria
…European Bank for Reconstruction and Development (EBRD) has provided a credit line of eight million euro to Raiffeisenbank Bulgaria, the Bulgarian lender said on July 12 2011. The financing, to be on-lent for energy efficiency projects to households, is part…
Euro Solution Is at Hand—With a Little Courage
…sovereign defaults that has been dogging the euro zone for the past three months would be lifted; member states would be certain they could replace maturing bonds and that banks would retain access to European Central Bank facilities. That would feed through…
Asian Shares Shudder; Europe Declines, Too
…Nikkei Stock Average dropped 1.4% to 9925.92, Australia’s S&P/ASX 200 index lost 1.9% to 4495.40, and India’s Sensex dropped 1.7% to 18411.62.Financial stocks bore the brunt of the selloff. In SYDNEY, Macquarie Group tumbled 6% and National Australia Bank…
Anticipating UK Employment Data in the Context of Bearish GBP/USD
The GBP/USD pair extended its decline overnight reaching a low of 1.5775, the lowest level for the pair since January 26th. We had anticipated this weakness in the GBP/USD in an article a week ago . Some Technical Observations of the Pair While we are expereincing a nice pull back following our new lows, the overall picture for the pair remains quite bearish.
Oil imports drove May trade deficit to $50.2B
…disasters is beginning to dissipate. As a result, Japan’s factories should increase shipments to the United States over the next few months. Jennifer Lee, senior economist at BMO Capital Markets, noted that while total imports from Japan declined, imports…
Markets tank on euro crisis
…deals before pulling back to US$1.3944. Eurozone members were holding further debt talks on Tuesday, one day after agreeing to strengthen a multi-billion-dollar fund to tackle Europe’s debt contagion. But investors were increasingly concerned that political…
Oil spike widens U.S. trade gap
…increased 16.3 per cent. Still, in May, the United States saw significant widening in trade shortfalls with Canada, its largest trading partner, and with China, its second-largest partner. According to data that were not seasonally adjusted, the gap with Canada…
CHF vs NOK, which is more defensive?
…against the EUR,” HSBC said. NOK less exposed to eurozone According to the BIS data, Swiss banks’ exposure to Greece, Ireland, Portugal, Spain and Italy combined is $56bn, about the same size as French banking exposure to Greece alone. Of the total exposure,…
Barclays Capital (BCS) Analysts Lower Price Target on Forest Oil Co. (FST) to $31.00
…approximately 83% of Forest’s estimated proved oil and gas reserves were in the United States, approximately 15% were in Canada, and approximately 2% were in Italy. The Company owns and operates producing oil and gas properties throughout North America. At…
Crude oil slides, dented by euro zone fears
…of commodity market strategy at BNP Paribas. The euro slumped to an all-time low against the Swiss franc and fell to a four-month trough against the dollar . The dollar’s strength makes oil priced in other currencies relatively expensive.
