Nov 8, 2011

Forex Crunch Bossi Calls Berlusconi to Step Down – Italian Government Falling Apart

Forex Crunch Bossi Calls Berlusconi to Step Down – Italian Government Falling Apart

Bossi Calls Berlusconi to Step Down – Italian Government Falling Apart

Posted: 08 Nov 2011 03:31 AM PST

Umberto Bossi, head of the Berlusconi’s main coalition partner “Northern League” party, has called on Silvio Berlusconi to resign.

According to DJ, he even offered a replacement: Angelino Alfano.  This happens as the main opposition party decided to abstain in a vote preceding a potential vote of confidence.

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Trade Responsibly Chapter 2: Trade With the Trend

Posted: 08 Nov 2011 02:00 AM PST

You've probably heard the expression: "Make the trend your friend". For many, this basic idea has already been forgotten and regarded as yet another cliché. Nevertheless, it is still very relevant.

If your system involves looking at 1 hour charts, check out the 4 hours charts and the daily charts to get the bigger picture. What is the general direction of your currency pair?

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Saxo Bank Chief Economist: EUR/USD to Slide to 1.10-1.15 in 2012

Posted: 08 Nov 2011 01:57 AM PST

Steen Jakobsen, chief economist for Saxo Bank sees 4 big advantages for the US dollar in the foreseeable future. Together with the raging European debt crisis, he predicts that EUR/USD will take a major hit and will eventually slide from the current range to much lower ground: 1.10 to 1.15 by the end of 2012.

The euro was launched in 1999 with an initial value of $1.17, so this would be a big blow. Jakobsen has a forecast of a 25% rise in the dollar during 2012, and the “free-fall” of the euro-zone economy since July makes euro/dollar a good candidate.

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British Manufacturing Production Rises as Expected – GBP/USD Ticks Up

Posted: 08 Nov 2011 01:31 AM PST

The output of Britain’s manufacturing sector rose by 0.2% in September. Early expectations predicted this exact outcome. The wider industrial production figure remained unchanged. A rise of 0.1% was expected.

GBP/USD reacts with a small rise. The pair is ticking up to 1.6075. It approached 1.690 earlier. Resistance awaits at 1.6110.

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EUR/USD Nov. 8 – Stalls Before Italian Vote

Posted: 08 Nov 2011 12:53 AM PST

Euro dollar is now trading in a narrow range awaiting the votes in the Italian parliament. There is a chance that Berlusconi might lose the votes and might be forced to resign. Italian bond yields continue soaring and this risks higher margin – the same path Greece, Ireland and Portugal went through. More meeting by finance ministers are due today.

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

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Europe takes the strain

Posted: 08 Nov 2011 12:48 AM PST

In the midst of the financial firestorms raging right across Europe, we are reminded of that classic wartime poster, exhorting the people of Britain not to panic and to hold their nerve in the face of unbearable pressure and ever-present threats. No matter where you look in Europe right now, politicians are under extraordinary strain.

In Greece, they have lost a Prime Minister and are set to have a stab at a unity government ahead of fresh elections and with the threat of default hanging thick in the air. In Italy, Prime Minister Berlusconi must be close to stepping down as Italian bond yields soar and the country faces up to the prospect of a team of IMF inspectors setting up camp to monitor implementation of promised reforms. Later today Berlusconi faces a critical test of his leadership with a key budget vote – many from his own party have already defected and/or called for him to resign.

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Forex Daily Outlook November 8 2011

Posted: 07 Nov 2011 02:00 PM PST

Manufacturing Production in the UK and Housing Starts in Canada are the main events lined up.  Let’s see what awaits us today.

In the US, Charles Plosser, Federal Reserve Bank of Philadelphia President, is about to lecture in Philadelphia

Read the rest of the article Forex Daily Outlook November 8 2011
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