Daily Archives: February 13, 2012
Behavioral Finance: Daily Forex Outlook: No closure yet for Greece
EUR USD (1.3250) The Greek Parliament approved the austerity package aimed at averting default on the March 20th bond repayment deadline. The backdrop of continuing street violence and several cabinet-level resignations, of course, is unlikely to instil confidence in the market that the Greek travails are heading for a closure.
Bond Analysis
German government bonds trading lower Monday amid-risk-on trades following news that the Greek parliament late Sunday approved an extremely unpopular package of extra austerity measures.
Technical Analysis – FX Daily Majors
Today’s highlights: · EURUSD: Friday erosion hints at a top, but close through the 13-day EMA, now 1.3125, needed to confirm. Otherwise, risks remain higher this week
UBS Morning Adviser America
Greek Progress Rewarded The dollar was soft overnight as investors rewarded the positive developments in Greece to move back into risk assets. Last night the Greek parliament voted in favour of a new package of austerity measures early on Monday morning, by 199 votes to 74.
Bond Analysis
German government bonds opening lower Monday after Greece’s parliament late Sunday approved an extremely unpopular package of extra austerity measures. Greek lawmakers approved the new measures by an overwhelming majority: 199 voted in favor of it, versus 74 who voted against it and 5 who cast “present votes.
FX Daily Strategist: Europe
Greek Parliament approves austerity bill Greece’s parliament early Monday ratified austerity measures of EUR 3.3 billion in wage, pension and job cuts this year, which should now give way to the release of the second EU/IMF loan package at Wednesday’s Ecofin meeting.
European FX Daily – Risk rally after Greek lawmakers pass austerity plans
– The AUD and SGD lead rally vs the USD, Asian equities up 0.2-0.7% – Greek parliament approves austerity measures – Greek PSI in focus – Firmer US data is supportive of the risk complex
Gold Analysis
Spot gold prices have recovered marginally this morning Asia after dipping on Friday to $1704.65 in NY. The pair did however manage to close at $1722(above the $1710 level which analysts point to as pivotal for the uptrend to continue) and has risen again this morning on the back of an higher EUR/USD and oil […]
Technical Analysis
Euro to decline? NOK/SEK to take off! EUR/USD – spiked above the neckline…GBP/USD – potential top formation…EUR/JPY – correction in its latter stage…EUR/SEK – still stuck in the doldrums…EUR/NOK – low end of parallel channel…USD/CAD – bullish print to take note of.
Crude Oil Analysis
Nymex WTI crude prices are edging higher this morning in tandem with the rise in the EUR/USD following the passing of the Greek austerity measures in parliament overnight. The March contract closed in NY on Friday at $98.67 after lows of $97.32 and has risen to $99.65 in Asia this morning.
UBS Morning Adviser Europe
Greek Austerity Approved The Greek parliament voted in favour of a new package of austerity measures early on Monday morning, by 199 votes to 74. There were 27 abstentions. The euro got a moderate boost once the count got underway, but we saw no follow through after the result was announced.
AUD/USD Analysis
Opened at $1.0670 in Asia after lows in NY of Friday of $1.0640. The pair slipped to $1.0666 in early trade this morning before heading up with the EUR/USD on optimism that the Greek vote would pass.