Oct 28, 2011

Forex Crunch All or nothing in Europe

Forex Crunch All or nothing in Europe

All or nothing in Europe

Posted: 28 Oct 2011 01:04 AM PDT

European leaders finally thrashed out a comprehensive crisis response Wednesday night which culminated in a communiqué released yesterday morning in Brussels. Italy has 'committed' to both fiscal consolidation and meaningful structural reform to achieve a balanced budget by 2013 and to introduce a balanced budget rule by mid-2012.

This will include wildly unpopular legislation to increase the retirement age to 67 from 65 by 2026. Greece will have a full-time on-the-ground monitoring team from the EU/IMF/ECB troika stationed in Athens "to advise and offer assistance" and "ensure the timely and full implementation of the reforms". On Greek-debt haircuts, private bondholders have apparently agreed to a "voluntary" bond exchange equivalent to 50% to enable a reduction in government debt/GDP of 120% by 2020.

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EUR/USD Oct. 28 – Marks the Limits of the Huge Rally

Posted: 28 Oct 2011 12:54 AM PDT

Euro dollar is settling in a high range after the huge post summit rally. It’s off the peak but remains very higher towards the week’s end. The calendar is relatively light, so more details about the China’s participation and other summit details will continue influencing the pair. Will we see another rally before the week ends?

Here's a quick update on technicals, fundamentals and what's going on in the markets.

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Forex Daily Outlook – October 28 2011

Posted: 27 Oct 2011 01:00 PM PDT

Employment Cost Index in the US and Consumer Spending in Europe are the major events this day. Here is an outlook on the market-movers awaiting us.

In theUS, Revised University of Michigan (UoM) Consumer Sentiment, consumer's survey to value the present and upcoming financial conditions over the last month, a rise from 57.5 points on September up to 58.2 points this time is likely. Meanwhile the Revised UoM Inflation Expectations is expected to remain 3.2% similar to the previous report.

Read the rest of the article Forex Daily Outlook – October 28 2011

Progress on Europe for now

Posted: 27 Oct 2011 06:28 AM PDT

European leaders finally thrashed out a comprehensive response to their sovereign debt and banking crisis which culminated in a detailed communiqué released this morning in Brussels.

This is a summary of the key features of this document together with our assessment of its effectiveness:

Read the rest of the article Progress on Europe for now

Forex Live Presents Forextravaganza

Posted: 27 Oct 2011 06:27 AM PDT

Forex Live is having an interesting event in New York City on November 10th: a round table discussion which will include the people behind Forex Live and also a special guest: Jim Trott,

Jim Trott was Chief Dealer at the Bank of England from 1990 until 2001, including the turbulent period which included Black Wednesday. Jim will give a central banker's perspective on the events of the day, which should help inform and enlighten those in attendance.

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US Economy Grew Nicely – EUR/USD Rises

Posted: 27 Oct 2011 05:32 AM PDT

The US economy grew at an annual pace of 2.5% in Q3 2011 according to the first release. This is within expectations of a 2.4%-2.5% rise. Early expectations stood on a rise of 2.4%.

The GDP Price Index which accompanies the GDP figure rose by 2.5%, as expected. US weekly unemployment claims printed 402K, as expected, also within expectations of 400K.

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EUR/USD Oct. 27 – Gains Ground as Summit Decisions Digested

Posted: 27 Oct 2011 05:14 AM PDT

Euro dollar is now trying to break resistance. The EU Summit provided decisions on all fronts, although decisions fell short. The initial reaction was a move upwards, yet with hesitation. Only many hours later, the pair is attempting on a bigger move. Important US figures are coming soon.

Here's a quick update on technicals, fundamentals and what's going on in the markets.

Read the rest of the article EUR/USD Oct. 27 – Gains Ground as Summit Decisions Digested

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