[Archive!] FOREX - Trends, Forecasts and Consequences (Episode 6: August 2011) - page 29
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In the first half of the day the single currency fell against the US dollar to its lowest level since 21 July at $1.4150.
.... The market remains extremely concerned about the situation in Italy. In addition the growth outlook for the global economy has recently become more uncertain.
Yields on Italian 10-year bonds have reached the highest since 1997. Spanish securities have also fallen in value ahead of auctions for securities maturing in 2014 and 2015.
Eurozone producer price inflation slowed from 6.2% in May to 5.9% in June. Therefore, the likelihood that the ECB will raise rates has decreased. The central bank meeting will be held on Thursday, August 4.
In the afternoon EUR/USD was able to recoup its losses after the release of negative US Personal Spending data - the figure declined by 0.2% in June.
Look at the pros with MT5 inti Post #7162 on page 359
"A picture is emerging on the m15.
Movement to 1.4145 with a possible pullback to 1.4250
A breakdown on the news, if there is one."
I'll give you the link right away so they don't say it's plagiarised)))
http://ruforum.mt5.com/threads/8492-EUR-USD-%202011q3/page359
We all used to be like that, and even now we sometimes get a bit crazy))))
At the ECB meeting (August 4) and the following press conference, central bank governor Jean-Claude Trichet will probably not be hurting the psyche of already agitated market participants with hints of an interest rate hike in the Eurozone in September. This conclusion may be suggested by:
With this in mind, further buying of the Euro against a rise in interest rates is not a well-founded decision at the moment. The interest rate expectations curve, by the way, also works in support of this idea and indicates that the ECB will take a wait-and-see attitude towards interest rate hikes in the region in the coming months.
By the way - this picture is a "beginner's reference" =)))
Buy at the top and sell at the bottom =))
All 16 member states of the euro zone have expressed their willingness to invest in another tranche for financially struggling Greece, the European Commission announced today. The money is due to be transferred to Athens in September, and so far everyone - even Spain and Italy, whose participation was questionable - is willing to help.
"All eurozone countries are ready to participate in the next tranche of financial aid to Greece. There is no indication that any country will not provide funds for the next tranche," Reuters quoted European Commission spokeswoman Chantal Hugh as saying.
US President Obama will start his speech around 16:15 GTM