TOKYO (Reuters) - Asian shares, the euro and oil prices fell on Thursday as surging borrowing costs in troubled Spainheightened fears that more countries in the euro zone will be hit hard by the region's debt crisis.
Japan's Nikkei average (.N225) (.T) slid 2 percent while MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> looked set to revisit its 2012 low with...
EURUSD: Trading Germany’s Unemployment Report
Trading the News: German Unemployment Change
What’s Expected:
Time of release:05/31/2012 7:55 GMT, 3:55 EDT
Primary Pair Impact: EURUSD
Expected: -7K
Previous: 19K
DailyFX Forecast: -10K to 10K
Why Is This Event Important:
Unemployment in Europe’s largest economy is projected to contract 7K after unexpectedly increasing 19K in April, and the improvement in the labor market may prop up...
Elliott Wave Trade Ideas Performance Update
The long position in EUR/GBP entered in week before was stopped at 0.8035 as the currency pair has remained under pressure last week, price dropped to as low as 0.7964 today and looks set to extend further weakness after breaking the psychological support at 0.8000.
No position was entered in the other currency pairs.
In short, 1 position was squared among the 4 currency pairs last week with a...
Cut in interest rate also required
THE latest cut in the bank reserve requirement ratio is insufficient to stave off an economic headwind in China and more stimulus policies, including an interest rate cut, are needed to boost the economy, economists said yesterday.They were responding to the announcement by the People's Bank of China on Saturday that more money will be made available for lending effective from Friday as it cut the...
RBA Sees Cut Interest Rate By 50 Basis Points Is A Must To Rebound Growth
Reserve Bank of Australia announced on its 1 st May meeting minutes that cutting the interest rate by 50 basis points is a must during the current environment in order to rebound the underestimated economy's growth.
From another side, Reserve Bank of Australia sees that inflation rates will be between 2% and 3% during the coming...
Gold continues falling as Greek deadlock drags on
Gold prices fell in Asian trading on Tuesday as a Greek deadlock over appointing a coalition government entered a new day with no end sight, fanning fears Greece is growing dangerously close to leaving the eurozone. Fears sent investors favoring the safety of the greenback, which sent gold falling, tracking an embattled euro. On...
Forex: EUR/USD getting flogged lower; 1.2815 low retested
Price action still looks extremely heavy on the EUR/USD, which has been taken down to recent lows. The short-lived bounces suggests the pair still faces prospects of fresher bearish legs ahead after the first attempt to bursts through this week's descending trendline at 1.2835 has been a crashing failure. The spot rate saw a very timid consolidation at intra-day highs followed by a retest of earlier lows at 1.2815. ...
USD/CAD - Key Resistance Continues To Hold
The USD/CAD formed a double top on Friday after better-than-expected employment data gave the CAD a boost. However, as risk aversion from the Eurozone pushed up the USD, as well as pressured oil prices, which is correlated to the loonie.
The USD/CAD therefore invalidated the double top patter and rallied back toward last week's high. Last week, the market cracked a key resistance at about 1.0050 and reached 1.0060. To start this week,...
Forex - EUR/SGD, EUR/USD Flows: Eye Greece EUR430m bond payment, EUR/SGD 10-yr lows
Traders talking about reports of key EUR430mln Greek bond payment on international law bond that matures today, May 15 - for those owners who opted out of the Greek-PSI plan. Some talks that a Scandinavian SWF is one of the owners of the bond and a non payment to the non-PSI bond holders could trigger default fears, despite the small amount. Though more likely than not - it could likely be paid. But in event of non-payment - could trigger...
