Jun 17, 2011

Forex Crunch Greece accelerates the European race to the bottom

Forex Crunch Greece accelerates the European race to the bottom

Greece accelerates the European race to the bottom

Posted: 17 Jun 2011 03:46 AM PDT

All eyes yesterday remained transfixed by unfolding events in Greece, with IMF Special Adviser Zhu fanning the flames of fear by remarking that he was very concerned by the dramatic change that had taken place in the previous 24 hours. Renewed political instability in Greece and the image of violent protests against new austerity measures

Will Merkel and Sarkozy Boost the Euro?

Posted: 17 Jun 2011 02:03 AM PDT

German chancellor Angela Merkel and French president Nicolas Sarkozy are meeting to discuss the situation in Greece and might come to some compromise regarding the participation of the private sector. The euro is currently rising on hope for some kind of solution. A positive statement can boost the euro and provide a better ending after

EUR/USD June 17 – Falling Back to Support on Greek Uncertainty

Posted: 16 Jun 2011 11:31 PM PDT

Euro dollar falls back to the pivotal support line after some correction of the big falls. It’s unclear whether Greece will get the necessary aid to survive as we enter the weekend. We have a few US events to wrap up the week, and possibly some fresh news from Greece, which has rocked the currency

Back to the Greenback As Greece Burns

Posted: 16 Jun 2011 02:53 PM PDT

As Greece burns, we’re back to the greenback. With the Greek situation exacerbating in severity, investors are running for the safe-haven of the U.S. dollar. The U.S. dollar index rose roughly 0.20% on Thursday, approaching $76. Nearly all currencies declined against the dollar, as investors fearing Greece may have shifted their assets to the U.S.

Forex Daily Outlook – June 17 2011

Posted: 16 Jun 2011 02:00 PM PDT

Prelim UoM Consumer Sentiment and Wholesale Sales in Canada are the major events this day. Here is an outlook on the market-movers awaiting us.  In the US, Prelim UoM Consumer Sentiment, survey of 500 consumers by the University of Michigan to show consumer spending, on May raised to 74.3% and a further rise to 74.4

USD/JPY Rises on Positive US Figures

Posted: 16 Jun 2011 05:48 AM PDT

A big bulk of US figures, led by jobless claims that dropped to 414K, push USD/JPY higher. In other pairs, the dollar also gains, but these rises are limited, as the Greek crisis is in the limelight US unemployment claims were expected to drop to 421K and dropped to 414K, 16K less than last week’s
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