ad news out of Europe, Germany in particular, makes two potentially profitable outcomes significantly more likely. Firstly, the European Central Bank will be more flexible in its efforts to keep Greece in the Eurozone.
The AIIB has drawn a cool response from the United States, despite which European US allies including Britain, France, Germany and Italy have already announced they would join the bank.
The euro settled below $1.27 on Friday morning after jumping to a seven-month high on Thursday following the European Central Bank’s policy meeting. The common currency traded at $1.2646 at 7:30 GMT after the bank did not suggest that any type of quantitative easing program was on the horizon.
The euro remained below $1.32 on Tuesday morning as the European Central Bank’s (ECB) September policy meeting approached.
Signs of an economic revival in China have raised hopes that Beijing’s targeted measures to bolster growth are having an impact but a slowdown in the euro zone will increase expectations of policy easing there.
This week market participants are getting a flurry of global economic data that has been and continues to have the potential to move the currency markets.
A clarion is a medieval trumpet that had clear, shrill tones. Trumpets were often uses to get people’s attention when making announcements. We are using “clarion” in the context of making announcements, as well as being thought-provoking when sharing our information and opinions with those who are interested in new investment ideas. Topic: Country Indexes The first chart, below, shows the weekly closes of the major bourses since
Traders start out the week with the U.S. dollar broadly lower against the major currency pairs. The moves comes on the hope the U.S. policymakers can reach a deal before the fiscal cliff deadline which in turn pushed sentiment toward risk appetite assets and away from the safety of the U.S. dollar.
A portion of this post was published also in the public section Traders start out the week with the U.S. dollar broadly lower against the major currency pairs. The moves comes on the hope the U.S. policymakers can reach a deal before the fiscal cliff deadline which in turn pushed sentiment toward risk appetite assets and away from the safety of the U.S. dollar.
The weak tone of yesterday’s session indicates that oil prices may move toward the lower end of the two-week consolidation near $89.00 in the near-term. Focus will be on DOE inventories and ADP payrolls today, which may offer modest pressure. Pressure could also come from a lack of investment moving into energy markets at the start of Q4, concerns over global growth, and a slow pace of reform in Spain and Greece. Support may be found from favorable car sales reported yesterday, and relative strength in the euro. We’d look for prices to test support at $88.95 (Sep 26th low) over the next few days.
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