Eur/usd - page 42
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
EUR/USD Forecast Oct 28- Nov 1
EUR/USD had an excellent week, breaking decisively to levels last seen in November 2011. Is 1.40 the next target? Or will the common currency take a break now? German retail sales, inflation and employment data, , consumer sentiment in France and Germany and GDP in Spain. Check out these events, on our weekly outlook. Here is an outlook for these events among others, and an updated technical analysis for EUR/USD.
Weak Non-Farm Payrolls in the US provided the trigger needed for the big breakout. If this is what the US can do without a crisis, things will likely look worse in the following months. However, in the old continent not all is well. PMIs couldn’t maintain their recovery and dropped. German business confidence is also weaker and so is inflation. Will the ECB step up its rhetoric and try to weaken the euro?
read more ...
Czech left leads vote count, new party second - partial results
The centre-left Social Democrats held onto their lead in the Czech republic's parliamentary election, partial results showed on Saturday.
The party led with 21.3 percent of the vote after 80 percent of polling stations had reported. The new centrist protest movement ANO had 18.7 percent and the Communists were third with 15.7 percent.
source ...
EUR/USD weekly outlook: Oct 28 - Nov 1
The euro ended the week close to two-year highs against the dollar on Friday as the dollar remained under pressure on the view that the Federal Reserve is likely to maintain the current pace of its asset purchase program well into next year.
EUR/USD ended Friday’s session at 1.3805, 0.02% higher for the day, after rising as high as 1.3833, the highest since November 2011 earlier. For the week, the pair gained 0.97%.
The pair is likely to find support at 1.3740, the low of October 23 and resistance at 1.3850.
The euro eased back from session highs against the dollar after a report showed that the German Ifo business confidence index unexpectedly fell for the first time in six months in October.
The report came one day after data on euro zone manufacturing and service sector activity indicated that the recovery in the region remains sluggish.
In the U.S., data on Friday showed that core durable goods orders unexpectedly fell 0.1% in September, the third consecutively decline.
A separate report showed that the University of Michigan U.S. consumer sentiment index was revised down to a 10-month low of 73.2 from a final reading of 77.5 in September.
The data cemented expectations that the Federal Reserve will delay plans to start tapering its stimulus program until at least the beginning of next year.
Data released earlier in the week showing that U.S. jobs growth had slowed in September, even before the start of the 16-day government shutdown, prompted investors to re-evaluate expectations over the timing of a possible reduction to the Fed’s stimulus program.
The Fed surprised investors when it unexpectedly refrained from scaling back asset purchases at its policy setting meeting in September, saying it wanted more evidence of an economic recovery.
read more ...
Greeks can give no more, president tells creditors
Austerity-hit Greeks have nothing left to give, Greek President Karolos Papoulias told the country's EU-IMF creditors on Monday ahead of a fiscal audit tied to fresh loans.
"(Greeks) today have given what they can to overcome the crisis, and this must be respected by Europe," 84-year-old Papoulias said at the close of a military parade in Thessaloniki honouring Greece's resistance to fascism.
"The Greek people can give no more ... this is our message. And they should not think that we will succumb to blackmail. (We) never have," said Papoulias, who often admonishes the country's EU-IMF creditors in his speeches.
A team of auditors from Greece's so-called creditor troika -- the European Union, International Monetary Fund and the European Central Bank -- are to resume an inspection of the country's bailout reforms early in November.
Their report will determine the release of a 1.0-billion-euro ($1.38-billion) loan instalment from Greece's outstanding rescue package.
According to the troika's estimates, Greece is facing a financial shortfall of 10.9 billion euros by 2015, including 4.4 billion euros in 2014.
They are expected to push for more cuts, but the fragile coalition government of Antonis Samaras has warned that the recession-hit country cannot afford to lower wages and pensions any further.
Greece plunged into recession in 2008, when the global economic crisis hit, and rising borrowing costs on its massive debt forced the country to seek financial aid in 2010.
So far, the EU and International Monetary Fund have committed a total of 240 billion euros in two bailout deals to Greece. Banks have taken losses on debt owed.
In order to tap the bailout loans, the Greek government had to raise taxes while cutting benefits, wages, and jobs over the past three years.
Since 2008, the unemployment rate has tripled to 27.6 percent while the economy has contracted by 22 percent.
source ...
Draghi Risks Having Worst of All Worlds in Banking Union
The euro zone's decision to create a banking union is in many respects as momentous as the creation of the euro. After all, bank supervision involves interfering in how resources are allocated—indeed, sometimes violently so when it comes to apportioning losses in failed banks. This is the essence of politics, a role that goes to the heart of sovereignty.
The ECB has never shied from spelling out the full significance of a banking union. But the same can't be said of many politicians across Europe. They have been only too happy to present the banking union's first stage—the creation of a single supervisory mechanism based at the ECB—as just another step in the evolution of Europe's single market, certainly nothing to trouble voters about.
But this gap between reality and rhetoric (or lack of it) will have to be bridged at some point. Will the euro zone acknowledge the banking unions' political implications at its birth? Or will it wait until the next crisis to grapple with the consequences, as it did with the euro?
So far, there is no clear answer. This became obvious last week when the ECB published its guidelines for a "comprehensive assessment" of the 124 largest euro-zone banks.
The ECB faces a binary choice over how it handles this assessment, which it hopes will restore trust in the banking system before it takes on its new supervisory powers in November 2014. Until the ECB decides which way to jump, the euro zone faces months of political—and potentially financial—volatility.
read more ...
Hungary's Unemployment Rate Declines For Sixth Month
Hungary's unemployment rate decreased for the sixth consecutive month in September, latest figures published by the Central Statistical Office revealed Tuesday. Economists had forecast the jobless rate to stay unchanged from August.
The unemployment rate at the end of the three months ended September was 9.8 percent, slightly lower than 9.9 percent recorded in the previous month.
Economists had forecast the jobless rate to hold steady at the August level. The percentage of unemployed persons in the labor force dropped regularly since the first quarter of 2013, data showed.
The unemployment rate for the country's young population - in the 15-24 age group - was 27.4 percent in the third quarter, lower than the August quarter's rate of 27.9 percent.
The total number of persons without a job fell by around 5,300 sequentially to about 343,200 in the September quarter.
source ...
Tax Revolts Hit Hollande as Farmers, Soccer Clubs Protest
French President Francois Hollande’s taxes, among the world’s highest, have made strange bedfellows out of the country’s soccer clubs and farmers in Brittany.
Revolts against a series of levies have erupted with protests by farmers in Brittany against a trucking tax on Oct. 27 leaving several people injured, and soccer clubs refusing to play a round of league matches in November to oppose a tax on salaries of more than 1 million euros ($1.38 million). Hollande has said he won’t budge on the millionaire tax, while Prime Minister Jean-Marc Ayrault said today he’s suspending the levy on truckers transporting agricultural products for now.
The Socialist president, who turned to increased taxes to narrow the country’s budget gap, has backed down on other levies in the face of objections. On Oct. 27, he gave up on a plan to lift taxation on savings, just weeks after backing off a new levy on corporate earnings. The U-turns have dented his credibility at a time when the economy is recovering and a two-year-long rise in joblessness is ending.
“The cumulative effect of these retreats is that they confirm in many voters’ eyes that the government is struggling to govern,” said Bruno Jeanbart, a director of Paris-based pollster OpinionWay. “Even Hollande’s own supporters question if he’s up to the job. The problem for the president is that every time there’s good news, it’s marred by political errors.”
read more ...
Spanish Budget Deficit Narrows In September
Spain's budget deficit declined notably in September as prime minister Mariano Rajoy initiates various measures to ease the country's debt burden.
A report released by the Ministry of Finance and Pubic Administration on Tuesday showed that total government deficit declined to 3.58 percent of GDP at the end of September from 3.9 percent in August.
The September figures were broadly unchanged from those recorded in the same month of last year, when the shortfall was the biggest in Europe.
The primary deficit, excluding the cost of interest payments, eased to 1.51 percent of GDP from 1.79 percent in September 2012.
Last week, the Bank Spain said that the Spanish economy has returned to growth in the September quarter, after staying mired in a recession for more than two years, helped by the improvement in external demand. Gross domestic product edged up 0.1 percent sequentially, offsetting the second quarter's 0.1 percent contraction.
The economy has been improving gradually since early this year on the back of rising confidence and an easing in financial stress. Spain's unemployment growth eased in September to the lowest level since June 2007.
source
what about the news related to us dollar specially the fomc meeting scheduling today i think this meting and the recommendation will came out probably will make ahuge impact on the entire market
French ‘firebrand’ calls for a weaker euro
French Industry Minister Arnaud Montebourg is well on his way to earning the Homeric epithet “firebrand” in the English-language press.
Montebourg, a populist favorite of the left in France for stirring up the pot in the Socialist Party, is starting to get more notice abroad.
Last week, he got considerable coverage when he criticized the strong-euro policy as being harmful to France and to Europe as a whole.
“The euro EURUSD is too expensive, too strong, and a bit too German,” Montebourg told a French newspaper. “It should be a bit more Italian, French and basically more European.”
He followed it up this week with more harsh words on European policy before a packed hall of employers from the French business confederation, Medef.
“The currency doesn’t belong to central banks,” he told the French bosses. “The euro doesn’t belong to Germany. It belongs to all the members of the euro zone. And we own a part of it and we have a say in it.”
Currencies, he said, “are a mercantile tool, subject to political manipulation,” as demonstrated by China and the U.S. He said the euro should be devalued 10% to restore equilibrium.
read more