Posts Tagged ‘EURO’

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Euro: ‘Buying Time’ May Not Work This Time as Crisis Intensifies

Euro: ‘Buying Time’ May Not Work This Time as Crisis Intensifies Fundamental Forecast for the Euro: Bearish There are many comparisons being made to current Euro-region market conditions and those back in the second quarter of 2010 when trouble just started brewing for Greece. However, it is perhaps better to draw the connections to the situation now and that of the second half of 2008.

Published by on May 19th, 2012 at 01:05 am
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Gold Outlook Rests on G8 Summit, Eurozone PMIs and US Survey Data

Fundamental Forecast for Gold: Neutral Gold prices mounted a swift recovery toward the end of last week as fears of a spreading crisis in the Eurozone and disappointing US economic news drove demand for alternative stores of value. An unexpectedly soft Philadelphia Fed print dented hopes that an accelerating US recovery will offset headwinds to global growth from sluggish conditions in Europe and Asia. The outcome marked only the second bit of significant data from the May set of activity surveys, tarnishing positive cues from the Empire Manufacturing print earlier in the week and pulling gold higher on inflation-hedge buying as traders sized up the uneven performance with minutes from the Fed’s April policy minutes.

Published by on May 18th, 2012 at 09:05 pm
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STOCKS NEWS THAILAND-S Khonkaen surges on profit, dividend hopes

Fri May 18, 2012 1:54am EDT Shares in S. Khonkaen Foods Pcl, a producer of meat products, surged nearly 30 percent on active volume with expectations of a strong earnings outlook for the year and high dividend income from subsidiaries. At the midsession break of 0530 GMT, S

Published by on May 17th, 2012 at 11:05 pm
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EURUSD Remains Below 1.27 After Moody’s Downgrades Spanish Banks

THE TAKEAWAY: Moody’s downgrades 16 Spanish banks > Announcement highlights scale of Spanish banking-sector troubles, but widely expected > EUR consolidates at low level In a widely anticipated announcement, Moody’s announced on Thursday the downgrade of 16 Spanish banks – including the country’s largest lenders Banco Santander and BBVA – as well as Santander’s UK-based subsidiary. The move – coming after the downgrade on Monday of 26 Italian lenders – was the latest reminder of the troubles plaguing Spain’s banking sector, but due to the largely expected nature of the announcement, the Euro held steady against the Dollar near 1.2690. Chart generated using FXCM Strategy Trader

Published by on May 17th, 2012 at 02:05 pm
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Brief Euro Rebound Stalls as Fitch Downgrades Greece

THE TAKEAWAY: Fitch cuts Greece’s LT debt ratings to CCC > Rating action reflects elections, heightened risk of Euro exit > EUR lower Fitch cut Greece’s long-term debt ratings to CCC from B- on Thursday, pushing the Euro below 1.2720 versus the US Dollar. Chart generated using FXCM Strategy Trader. Bar denotes release of rating decision.

Published by on May 17th, 2012 at 11:05 am
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