Monthly Archives: September 2011
UK Independent: Meltdown fears for euro as G20 makes plans for Athens to default on debt
Meltdown fears for euro as G20 makes plans for Athens to default on debt Finance Minister signals Greece may opt for 50 per cent writedown on bonds as top economist warns Spain and Italy could be forced out of single currency The world’s leading economic powers are moving towards an acceptance that Greece will default […]
Technical Analysis: Technical Alert: Euro approaching support levels
Entering the week with a small sour undertone but it is also worth to note that at least some positive signs are emerging with some equitiy markets ending last week on a positive footing (OMX spring bottom) and that some EM’s like EURPLN came off in both size and volume, Bond yields moved up a […]
HSBC – Top Research from the weekend
Please find below a few key pieces of research over the weekend: 1) EFSF Vote in German Parliament {http://bit.ly/qiLuz7} 2) EZ Sovereign Debt Crisis – Who, What, Where and When {http://bit.ly/rsunKS} 3) Asian FX: CNH unsettled by contagion {http://bit.ly/pDjPSY} 4) HSBC Essentials {http://bit.ly/qDLhNI} 5) HSBC forecast changes {http://bit.ly/n5OPxo}
The European crisis continues to hit the euro and higher-beta currencies hard
The FT’s Alan beattie and Tom Braithwaite summed up where the weekend ended for the euro-crisis rather well ‘The International Monetary Fund annual meetings wrapped up in Washington on Sunday with widespread concern over the eurozone sovereign debt crisis but no immediate consensus on the solution.
Spotlight/Trade Idea: Sell EUR/GBP for .8300
‘Double top’ completion signals beginning of next leg lower through .8528/.8456 to .8300. Only back above .8809 would ease bearish risk. A recovery above .8844/87 resistance zone is required to see a better tone resurface, for a re-test of .9085.
Russia: Political uncertainty removed
As expected, the announcement of the candidate for Russia’s March 2012 presidential elections was made on Saturday at the United Russia party congress. This candidate, we were told by current president Medvedev, will be PM Putin.
Technical Analysis – FX Daily Majors
Today’s highlights: EUR/USD: A new correction low through key 1.3428/10 area reinforces bearish “outside” Wednesday. Next downside target is 1.3305 with late Q3 risk to 1.3050 AUD/USD: Plunge through critical .9933/27 for a more important top for .9574/37
Behavioral Finance: Daily Forex Outlook: Universal pessimism descends on the market
EUR/USD (1.3530) David Cameron told Canada’s parliament last night that ‘the problems in the eurozone are now so big that they have begun to threaten the stability of the world economy’. The UK prime minister said that eurozone leaders must quickly implement what they have agreed upon.
UniCredit EEMEA Daily
News CZ: Neutral – CNB left the repo rate unchanged at 0.75% (p2) RO: Negative – MinFin sold RON 0.1bn 10Y ROMGB: yield 7.65% (p2) SA: Negative – SARB leaves repo rate unchanged, discussed rate cut SI: Negative – Moody’s cuts rating by one notch to Aa3 with negative outlook citing economic slowdown and banking […]
FX Techtonics Daily – EUR/USD: pressure on 1.3410/30 support zone
EUR/USD EUR/USD should clearly break below the 1.3420/95 support zone, which has come under pressure, and target the January low of 1.2860, with steps at 1.3245 and 1.3050.
O/n Wrap, Orderbook & Flow, $Asia, G20
1) Overnight Asia Wrap G20 Headlines dominate the day… Asian equities trashed to start the day, keeping pace with their counterparts on the other side of the globe. Kospi down over 5% the biggest mover. Rumors then began to circulate of a emergency press release from the G20, ” JIJI SAYS G20 TO CONFIRM COOPERATION […]
What matters today (Asia edition)
Developed macro 1. Risk-off sessions were seen with intensifying worry about double-dip recession 2. No first-tier data in Europe, but key European speakers in Washington.