also remember the Wall Street Journal article that rehashed the entire regionâ€™s
banking problems and the rather large potential for the eurozone economies to
experience another round of turmoil post stress tests. The euroâ€™s knee-jerk
reaction was not good; but it needed very little time to shake off the dirt and
begin a strong move higher.
Moodyâ€™s is sure to not let the Irish banking issue go to rest; and The Wall Street Journal is digging in
again, implying that itâ€™s only a matter of time before investorâ€™s mood changes
on the eurozone.
Irishâ€™s bank debt was cut and theyâ€™ve been put on watch for further potential
downgrades. The problem is the Irish government can seem to provide a
sufficient back-stop for the bank. And if thatâ€™s going to be the MO, itâ€™s not a
good sign for other banks or other countriesâ€™ banks in similar positions. And
there are many.
The Wall Street Journal is asking whether the ECB has
succeeded or can succeed in keeping the eurozone â€“ the common currency â€“
together. Thereâ€™s a central bank for the zone, there are treaties and contracts
between members, but thereâ€™s no central authority that can keep member
governments in line when it comes to fiscal policy. That seems to be accepted
as the biggest problem still facing the eurozone; it is apparently the cause
for governments spending beyond their means and the limits set out in the
argue that thereâ€™s more than just the absence of a central power that has
caused imbalances within the zone. But weâ€™ve done that before.
excerpt from the WSJ:
package of EU measures has helped quell the panic. But four months later, the
root causes of the Greek crisis remain: There is no central authority to even
coordinate national tax-and-spending policies.
past month, financial markets have turned their sights on Ireland and Portugal.
Doubts remain over the solvency of banks on Europe's stricken fringe. That
leaves them dependent on Mr. Trichet's largesse, in the form of
"temporary" lending facilities introduced by the ECB when the crisis
Mr. Trichet's assurances that the bond-buying program is a stop-gap, it not
only continues but has also increased in recent weeksâ€”with no end in sight.â€ť
The ECB has
a tough job trying to act in a way thatâ€™s supportive, or at least considerate,
of all its members while also trying to maintain a modicum of financial
credibility. Itâ€™s easy when everyone is happy, everyoneâ€™s GDP is pointing in
the right direction, and the global economy is moving along swimmingly. That is
still not the case.
this being front and center for everyone to see, the euro has barely blushed
(thanks FOMC!)Not only has the euro
broken decisively above its 200-day moving average, but it breached chart
resistance, came back and tested, and then bounced strong on Friday.
jump on this opportunity to get long EURUSD? EURUSD price action has not been
fazed by a steady stream of typically bad eurozone news. When such a dynamic is
in play, when bad news is brushed aside, any good news can have an increasingly
more positive impact.
stocks signal that risk appetite is on, we think it makes sense to have some
long exposure to the euro. If this move looks to have become tired out, we
wonâ€™t sit around. The right (or wrong) combination of major global macro risks
can still turn around the markets on a dime. This is why we will keep a
short-leash on EURUSD.
Forex Trading News
Daily Forex Market News Forex news reports can be found on the forex research
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Forex News Real-time forex market news reports and features providing
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Mon 18 Dec
10:00 EZ- final HICP Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes Mon 25 Dec
00:00 Christmas Holidays
Potential Trading Opportunities
POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.
POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity
POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
looking for your first broker or do you need of a new one? There are
more critical things to consider than you might have thought.
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seen everything and are up-to-data with recent regulatory changes.
The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.
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