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Risk Correlated Assets Desperately Looking for Short-Term Relief
EUR/USD May 19 – Recovery Reaches Limits
Euro/dollar continued its recovery from Friday but met resistance and fell back. Polls in Greece show that the elections certainly look like a referendum on the euro membership. In Spain, the talks about a bailout refuse to leave. Is the correction over?
Here’s an update on technicals, fundamentals and what’s going on in the markets.
Read the rest of the article EUR/USD May 19 – Recovery Reaches LimitsCrude Oil, Gold Aim Higher as Risky Assets Mount Relief Rally
Is Europe’s mantra changing?
It’s Monday and the shifting sands of the European mindset are moving (not for the first time) towards the issuance of common bonds as a means of overcoming the sovereign crisis. This is one of the changes in momentum that has emerged from the weekend’s meeting of G8 leaders, together with giving the EFSF the ability to re-capitalise banks.
It’s a sign that there is stronger desire to see an alternative to the hard-line German stance of austerity, with few after-thoughts. Furthermore, the German Chancellor will find it increasingly difficult to resist this shift, especially when it is being endorsed at the international level.
Read the rest of the article Is Europe’s mantra changing?Forex Weekly Trading Forecast – 05.21.2012
Forex Weekly Trading Forecast – 05.21.2012
Japanese Yen Sold as China Premier Wen Stokes Stimulus Hopes
Markets in Need of Reassuring, Risk Positive News; Technicals Oversold
US Dollar Chart Setup Warns of Pullback Before Rally Resumes
Forex Daily Outlook May 21 2012
We began the week with the speech of FOMC Member Lockhart in Tokyo as the main highlight on today’s outlook. Let’s see what awaits us today.
In the US, Dennis Lockhart, Federal Reserve Bank of Atlanta President, is about to speak in Tokyo.
Read the rest of the article Forex Daily Outlook May 21 2012GBP/USD Outlook May 21- 25
The surging US dollar pummelled the British pound this week, as GBP/USD lost around 260 pips, closing just above the 1.58 line, at 1.5807. The upcoming week is very busy with 10 releases, including CPI and Retail Sales. Here is an outlook for the upcoming events, and an updated technical analysis for GBP/USD.
Last week’s UK employment data was positive, but of little help to the pound, which has shed around five cents in the month of May. Trade Balance figures were weak, and the turmoil and instability spreading through the Euro-zone is giving a strong push to the dollar.
Read the rest of the article GBP/USD Outlook May 21- 25