Monday, January 16, 2012

Forex Market Updates & Commentary

Forex Market Updates & Commentary

Link to Forex News and Commentary by FXDD

EURUSD in non trending trading mode

Posted: 16 Jan 2012 07:22 AM PST

The 1.2682 was the close from Friday and has been a high for today. The 1.2623 was the low from Friday and near the low for the day. The 1.2661/65 were Monday and Wednesday lows. That sits in between the resistance above and support below.  Being below the close keeps the bears in charge for the EURUSD. The burden of proof is on the bulls or buyers to overtake the sellers and push the market higher. So far today they have won a battle off the lows, but they have not won any wars.

Post S&P quiet. Week off to a slow start.

Posted: 16 Jan 2012 04:38 AM PST

German Finance Ministry spokesman sees no need to act on ESM.

Posted: 16 Jan 2012 03:01 AM PST

  • Expect FINMINs to be able to conclude discussions on bringing forward ESM next week.
  • Germany maintains 50% Greek debt write-down goal.
  • Germany has no reason to believe that it needs to boost EFSF funding.

Italy’s Monti

Posted: 16 Jan 2012 02:42 AM PST

  • S&P highlighted italy’s fiscal efforts.
  • Must reduce divergence between UK and Euro areas.
  • Vows liberalization, infrastructure plans this week.

Moody’s says France’s AAA rating could come under pressure if debt/GDP ratio continues to rise, and if Euro debt crisis worsens.

Posted: 16 Jan 2012 02:17 AM PST

  • Still assessing its stable outlook on France, will update in Q1.
  • French government has less room to manoeuvre on public finances that it had in 2008.

 

EU’s Corbett

Posted: 16 Jan 2012 02:14 AM PST

  • Democratic processes move more slowly than markets.
  • EU has made “remarkable changes” in the crisis fight.
  • Next EU summit will focus on economic growth.
  • ECB has been playing its role in the crisis “as it sees fit”.
  • Downgrade may focus leaders minds in the crisis fight.

 

Fitch revises Russia’s long term rating from positive to stable, the likelihook of an upgrade has receded.

Posted: 16 Jan 2012 02:02 AM PST

Merkel, Sarkozy, and Monti are due to meet in Rome on Jan. 20th.

Posted: 16 Jan 2012 02:00 AM PST

Senior Greek Finance Ministry official is travelling to Washington Monday for talks with the IMF on a debt swap plan, according to Greek debt agency Chief.

Posted: 16 Jan 2012 01:39 AM PST

Greece’s Papademos makes comments on CNBC

Posted: 16 Jan 2012 12:59 AM PST

  • Greece is close to an agreement with creditors.
  • “Some further reflection” is necessary.
  • He is “confident” talks will continue.
  • “Confident” an agreement will be reached.
  • IMF must accept in order to avoid more austerity.

German fin. minister says the guarantees for the EFSF are sufficient.

Posted: 16 Jan 2012 12:42 AM PST

Swiss PPI rises 0.3% in December, a 0.3% decline was expected

Posted: 16 Jan 2012 12:23 AM PST

Usd/Chf trades at .9525, unaffected by number.

German wholesale price index (m/m) 0.0%; worse than expected.

Posted: 15 Jan 2012 11:05 PM PST

1-16 Calender

Posted: 15 Jan 2012 09:39 PM PST

The Forex Week Ahead Report (pdf). Webinar at 9:30 AM ET Monday

Posted: 15 Jan 2012 09:01 PM PST

The Forex Week Ahead with Greg Michalowski webinar will take place at 9:30 AM ET. To Register, please go to:

https://www1.gotomeeting.com/register/993385424
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