Online Forex Trading: 2012

Saturday, 10 March 2012

Action Forex

ISDA declares Credit event in Greece; Default is official

Posted: 09 Mar 2012 01:48 PM PST

The International Swaps and Derivatives Association (ISDA) has decided unanimously today to declare that Greek’s bond swap constitutes a “credit event” and that “the right of all holders of the affected Bonds to receive payments has been reduced,” according to release published by the ASDA late Friday. Investors that bought Credit Default Swaps (CDS) on Greek debt will get paid. Nev

Friday, 9 March 2012

Action Forex

Greek debt swap sees 85.8% take-up, ISDA’s decision on CACs looms
Greece PSI deal completed: €172 bln bonds swaped, will enact CACs
USDCAD’s fall extends to 0.9892
Greece to get above 85% on bond acceptance

Greek debt swap sees 85.8% take-up, ISDA’s decision on CACs looms

Posted: 09 Mar 2012 07:49 AM PST

Various officials have been expressing their satisfaction with the outcome of the Greek debt swap deal which was made known on Friday at 6:00 GMT. The Greek ministry of finance announced it had completed a debt swap with participation at 85.8% vs expectations running as high as 90/95%. “This is an important step that will dramatically reduce Greece's medium-term financing needs and contribute to debt sust

Greece PSI deal completed: €172 bln bonds swaped, will enact CACs

Posted: 08 Mar 2012 10:47 PM PST

Euro is going through a buy the rumour sell the fact after Greek govt announced it had completed a debt swap with participation at 85.8% vs expectations running as high as 90/95%, although the number stays very much in line with the first initial pre-announcement by Greek offcials at the NY close. Holders of 172 bln euros worth of bonds in total have consented to bond offer vs €206 eligible with Greek official

USDCAD’s fall extends to 0.9892

Posted: 08 Mar 2012 08:52 PM PST

USDCAD's fall from 1.0028 extends to as low as 0.9892. Lengthier sideways movement in a range between 0.9841 and 1.0050 is expected in a couple of days. As long as 1.0050 key resistance holds, the price action in the trading range is treated as consolidation of the downtrend from 1.0422 (Dec 14, 2011 high), and another fall towards 0.9700-0.9800 area is still possible. On the upside, a break above 1.0050 will in

Greece to get above 85% on bond acceptance

Posted: 08 Mar 2012 01:51 PM PST

According to Greek official, Greece would get above 85% Greek bond acceptance. Official said despite the information, they must to check all information and official announcement will be release Friday at 6:00 GMT. The above 85% Bonds acceptance is under Greek law and represents 177 billion euros. "Whoever gives percentage rates now is naive," a Greek government official said in a recent interview with Reute

Thursday, 8 March 2012

Action Forex

Markets buzz in anticipation of the Greek swap deal

Posted: 08 Mar 2012 05:53 AM PST

European stock markets and the euro are extending gains on Thursday, on the hopes that the Greek debt writedown deal, which is supposed to be finalized by 20:00 GMT, will have a positive outcome. Greek authorities informed that the release of debt swap results is scheduled for 6:00 GMT on Friday, but Greek Finance Minister Evangelos Venizelos might also make an official statement sometime earlier. Although at

USDJPY remains in uptrend from 76.02

Posted: 07 Mar 2012 07:43 PM PST

USDJPY remains in uptrend from 76.02, the price action in the trading range between 80.01 and 81.86 is treated as consolidation of the uptrend. Lengthier sideways movement in the range would likely be seen over the next several days. As long as 80.01 support holds, we'd expect uptrend to resume, and another rise towards 85.00 is still possible after consolidation, and a break above 81.86 could signal resumption

Wednesday, 7 March 2012

Action Forex

Greek debt swap approaches amid renewed market optimism

Posted: 07 Mar 2012 07:52 AM PST

European markets were trading in the positive territory on Wednesday, as doubts about the Greek debt swap, which is supposed to be finalized by March 8, are slowly dispelling. European Commissioner for Economic and Financial Affairs Olli Rehn expressed his faith today that a sufficient amount of Greece’s creditors would take part in the debt swap. The news caused Spanish and Italian bond yields to decline.

AUDUSD breaks below 1.0596 key support

Posted: 06 Mar 2012 05:44 PM PST

AUDUSD breaks below 1.0596 key support and reaches as low as 1.0507, suggesting that the uptrend form 0.9861 (Dec 15, 2011 low) has completed at 1.0855 already. Further decline is expected after a minor consolidation, and next target would be at 1.0450. Resistance is at 1.0600, as long as this level holds, the downtrend from 1.0855 will continue. Posts Related to AUDUSD breaks below 1.0596 key supportAUDUSD is

Tuesday, 6 March 2012

Action Forex

IIF warns Greek default might cost Eurozone 1 trillion euros
AUDUSD traded in a range between 1.0596 and 1.0855
Greece debt swap deadline nears as Spain sets alarming deficit target

IIF warns Greek default might cost Eurozone 1 trillion euros

Posted: 06 Mar 2012 07:45 AM PST

According to a report obtained by Reuters, the Institute of International Finance considers a possible Greek disorderly default as extremely harmful for the Eurozone. In a document from 18 February the banking trade group warned that such an event would result in Italy and Spain seeking external aid in the face of the threat of contagion. They estimated that the damage to the Eurozone would amount to 1 trillion eu

AUDUSD traded in a range between 1.0596 and 1.0855

Posted: 05 Mar 2012 07:41 PM PST

AUDUSD traded in a range between 1.0596 and 1.0855 for several days. As long as 1.0596 key support holds, the price action in the range is treated as consolidation of the uptrend from 0.9861, and one more rise towards 1.1080 previous high is still possible. One the downside, a breakdown below 1.0596 will indicate that the rise from 0.9861 has completed at 1.0855 already, then the following downward movement could

Greece debt swap deadline nears as Spain sets alarming deficit target

Posted: 05 Mar 2012 02:45 PM PST

The European commission was gutted to learn earlier today that Spain budget deficit deviation will be much greater than initially pledged. Brussels sees the deficit target of 5.8% rather than 4.4% agreed as a “serious deviation.” PM Rajoy revealed the stunner target of 5.8% for this year after that last year’s deficit of 8.5%. The stand-off between the European authorities and Spain came just day

Monday, 5 March 2012

Action Forex

Markets concerned with Chinese growth forecast reduction, Greek debt swap complications

Posted: 05 Mar 2012 07:46 AM PST

Investor optimism deteriorated on Monday, following Chinese PM Wen Jiabao ‘s announcement that the growth forecast for China for 2012 had been cut to 7.5%, in comparison with the previously estimated 8.5%. The Premier attributed the reduction to high inflation as well as grim global economic prospects. “Internationally, the road to global economic recovery will be tortuous,” said Wen Jiabao at t

AUDUSD had formed a cycle top at 1.0855

Posted: 04 Mar 2012 06:40 PM PST

AUDUSD had formed a cycle top at 1.0855 on 4-hour chart. Further decline to test 1.0596 key support would likely be seen, a breakdown below this level will indicate that the longer term uptrend from 0.9861 had completed, then the following downward movement could bring price to 0.9500 area. Resistance is at 1.0855, only break above this level could trigger another rise towards 1.1080 previous high. Posts Relat

Friday, 2 March 2012

Action Forex

EU fiscal pact signed by 25 Member States
AUDUSD stays above a upward trend line
Greek bailout to be approved after debt swap

EU fiscal pact signed by 25 Member States

Posted: 02 Mar 2012 07:47 AM PST

During the second day of the summit EU officials discussed mainly the way to reconcile budget cuts with the need to boost economic growth in the area. The decision on increasing the European rescue fund however was postponed until the end of March. All EU nations except for the UK and the Czech Republic signed the fiscal pact on Friday. The treaty imposes stricter rules on debts and deficits, which need to be ens

AUDUSD stays above a upward trend line

Posted: 01 Mar 2012 06:42 PM PST

AUDUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.0596, the fall from 1.0855 is treated as consolidation of the uptrend. As long as the trend line support holds, uptrend could be expected to resume, and one more rise towards 1.1080 previous high is still possible. Support is at 1.0714, a breakdown below this level will indicate that the rise from 1.0596 is complete, then deeper

Greek bailout to be approved after debt swap

Posted: 01 Mar 2012 12:50 PM PST

Following a meeting with euro zone finance ministers in Brussels, Eurogroup President Jean-Claude Juncker said that Greece has taken all the legal action required to secure a second bailout from the euro zone countries, paving the way for the first tranche to be paid out by March 20. However, the Eurogroup said in a statement that the disbursement of the EFSF bonds and final approval of the second bailout package

Thursday, 1 March 2012

Action Forex

Eurogropup to make final decision on Greek bailout

Posted: 01 Mar 2012 06:45 AM PST

European markets rose on Wednesday buoyed by the ECB’s refinancing operation, conducted the previous day, which provided 800 European banks with 529.5 billion euros at 1% interest. Now investors are awaiting the Eurogroup meeting which will be held in the afternoon in Brussels. The main topic to be discussed is the Greek rescue plan. Initially, the increase of the ESM, the EU permanent rescue fund, was also

Wednesday, 29 February 2012

Action Forex

ECB loan operation spurs markets
Durable Goods Orders – Too Soon to Declare Soft 2012:Q1
Ireland calls for a referendum on EU’s new fiscal compact

ECB loan operation spurs markets

Posted: 29 Feb 2012 07:46 AM PST

The European Central Bank released the second round of its long-term refinancing operation with a maturity of three years on Wednesday. The liquidity injection amounted to €529.53 billion in comparison with the €489 billion at the first take-up. The volume exceeded forecasts of €450 billion. The ECB reported that 800 banks took advantage of the second round of 3-year LTRO loans in comparison with 523 in case

Durable Goods Orders – Too Soon to Declare Soft 2012:Q1

Posted: 29 Feb 2012 12:16 AM PST

Orders of durable goods fell 4.0% in January following strong gains in November (+4.2%) and December (+3.2%). A decline in bookings of commercial aircraft (-19%) and machinery (-10.4%) brought down the headline. Defense orders moved up 17.7% to provide a partial offset. Excluding defense and aircraft, orders of capital goods dropped 4.5% in January. Orders of durable goods tend to decline in January, partly due to

Ireland calls for a referendum on EU’s new fiscal compact

Posted: 28 Feb 2012 11:45 PM PST

The Irish Prime minister Enda Kenny has announced that Ireland will hold a referendum on the EU new fiscal treaty. “Irish people will be asked for their authorization in a referendum to ratify the European stability treaty,” said the Taoiseach to Bloomberg. “Referendum is required,” but government “will push the Yes vote”. “Risk off, as Ireland puts the new European fisca

Saturday, 25 February 2012

Action Forex

Rightmove House Price Index (February)
The ‘revision drift’ remains upwards
Public Sector Finances (January)
Recent U.S. Oil and Gas Extraction Activity – Facts vs. Popular Opinions
Intelligent Investor Monitor

Rightmove House Price Index (February)

Posted: 25 Feb 2012 05:49 AM PST

INSIDE THE REPORT Stock recommendations and price targets from top brokerage firms Analysis and views on More Powers for Scotland and UK-France Nuclear Energy Deal List of companies earnings which hit and miss the analysts‟ expectations Economic Indicators Rightmove House Price Index (February) BoE Capital Issuance (January) CML Mortgage Lending (January) Corporate Events AFC Energy pr

The ‘revision drift’ remains upwards

Posted: 24 Feb 2012 09:21 PM PST

In the eurozone, national data released so far shift the balance of risks towards a 0.1pp downward revision to the January flash estimate (reported at 2.7%). Although this is a very close call, we have now penciled in this revision in our projections. The first half of February saw ongoing upward pressure on the price of oil-related products, which came on top of the likely adverse impact of unusually cold w

Public Sector Finances (January)

Posted: 24 Feb 2012 02:55 PM PST

INSIDE THE REPORT Stock recommendations and price targets from top brokerage firms Analysis and views on Lloyds Bank Bonus Packages, Sun on Sunday and Iran's Suspension on Oil Exports List of companies earnings which hit and miss the analysts' expectations Economic Events Scheduled on 21 February, 2012 Economic Indicators Public Sector Finances (January) Corporate Events Devro, Primary H

Recent U.S. Oil and Gas Extraction Activity – Facts vs. Popular Opinions

Posted: 24 Feb 2012 04:15 AM PST

Posts Related to Recent U.S. Oil and Gas Extraction Activity – Facts vs. Popular OpinionsTrading Forex To Advance Your Financial PositionBack to Forex Article List Everyday, currencies are traded in an international foreign exchange market, otherwise known as the forex market, with the main marketplaces ...Interested in FOREX Trading?Back to Forex Article List The Foreign Exchange Market (Forex) has no central ex

Intelligent Investor Monitor

Posted: 23 Feb 2012 11:48 PM PST

THE NEXT TRADING DAY Economic Events No major economic events scheduled on 23 February 2012. Corporate Events Stagecoach Theatre Arts, the performing arts company is scheduled to release its interim 2011 results on 24 February, 2012. Whilst the economic downturn has impeded growth and resulted in some consolidation in its core UK business, and this may continue in the financial year ahead, over 90% of all

Thursday, 23 February 2012

Action Forex

BBA Main High Street Banking Groups Statistics (January)
BoE MPC Meeting Minutes (February)
EURUSD is facing 1.3320 resistance

BBA Main High Street Banking Groups Statistics (January)

Posted: 22 Feb 2012 11:50 PM PST

INSIDE THE REPORT Stock recommendations and price targets from top brokerage firms Analysis and views on FTSE 100, U.K. Cancer Research and Anti-Muslim Attacks List of companies earnings which hit and miss the analysts' expectations Economic Events Scheduled on 23 February, 2012 Economic Indicators BBA Main High Street Banking Groups Statistics (January) Corporate Events Ashmore Group, Ce

BoE MPC Meeting Minutes (February)

Posted: 22 Feb 2012 07:53 PM PST

INSIDE THE REPORT Stock recommendations and price targets from top brokerage firms Analysis and views on Caution Over Iran, NHS Reforms and Sun on Sunday List of companies earnings which hit and miss the analysts' expectations Economic Events Scheduled on 22 February, 2012 Economic Indicators BoE MPC Meeting Minutes (February) Agents’ Summary of Business Conditions (February) Corpor

EURUSD is facing 1.3320 resistance

Posted: 22 Feb 2012 06:41 PM PST

EURUSD is facing 1.3320 resistance, a break above this level could trigger another rise to 1.3500 zone. On the downside, as long as 1.3320 resistance holds, the rise from 1.2975 is treated as correction of the downtrend from 1.3320, and another fall towards 1.2800 could be expected. Support is at 1.3185, a breakdown below this level could signal resumption of the downtrend. Posts Related to EURUSD is facing 1.

Wednesday, 22 February 2012

Action Forex

AUDUSD is facing the key support of 1.0628

Posted: 22 Feb 2012 10:40 AM PST

AUDUSD is facing the key support of 1.0628, a breakdown below this level will indicate that the uptrend from 0.9861 (Dec 15, 2011 low) has completed at 1.0844 already, then the following downward movement could bring price to 1.0400 area. On the upside, as long as 1.0628 level holds, the price action in the range between 1.0628 and 1.0844 could possibly be consolidation of the uptrend, and one more rise to 1.0900

Tuesday, 21 February 2012

Action Forex

EZ FinMin strike deal on Greek bailout

Posted: 20 Feb 2012 10:45 PM PST

After Euro zone finance ministers exchanged their views on how to resolve the lockout between Greece and the size of haircuts to be taken by its private creditors, at almost 3 am in Brussels they appear to have reached a deal that will see Greece being financed by 130 billion euros as they plan to reduce its debt to GDP ratio to 121%. More details coming soon. EUR/USD had a spike towards 1.3290 from session lows

AUDUSD continues its sideways movement

Posted: 20 Feb 2012 06:40 PM PST

AUDUSD continues its sideways movement between 1.0628 and 1.0844. As long as 1.0628 key support holds, the price action in the range is treated as consolidation of the uptrend from 0.9861 (Dec 15, 2011 low), and one more rise to 1.0900 is still possible after consolidation. On the downside, a breakdown below 1.0628 will indicate that the uptrend from 0.9861 has completed at 1.0844 already, then the following downw

Monday, 20 February 2012

Action Forex

Markets optimistic on a Greek deal

Posted: 19 Feb 2012 08:48 PM PST

Saving Greece from declaring bankruptcy and provide the ‘broken’ country with a fresh EUR 130 bln fresh bailout may just be hours away, an outcome that may be decided on the Finance Ministers meet this Monday. Financial markets in Asia opened feeling ‘risk-on’; helping to underpin the bid tone was the approval by Greece’s cabinet on Saturday of a final set of spending cuts reque

EURUSD is facing 1.3026 support

Posted: 19 Feb 2012 07:40 PM PST

EURUSD is facing 1.3026 support, a breakdown below this level will confirm that the rise from 1.2624 had completed at 1.3320 already, then deeper decline towards 1.2624 previous low could be seen. On the other side, as long as 1.3026 key support holds, the price action in the trading range between 1.3026 and 1.3320 is treated as consolidation of the uptrend, and one more rise towards 1.3500 is still possible.

Sunday, 19 February 2012

Action Forex

EURUSD is facing 1.3026 support
EURUSD is facing 1.3026 support
EURUSD is facing 1.3026 support
Hopes for Monday Greek bailout deal lift markets
Minutes January 24-25 FOMC Meeting: Divided House about Additional Quantitative Easing
EURUSD is facing 1.3026 support
Minutes January 24-25 FOMC Meeting: Divided House about Additional Quantitative Easing

EURUSD is facing 1.3026 support

Posted: 19 Feb 2012 11:42 AM PST

EURUSD is facing 1.3026 support

Posted: 19 Feb 2012 08:44 AM PST

EURUSD is facing 1.3026 support

Posted: 19 Feb 2012 01:40 AM PST

Hopes for Monday Greek bailout deal lift markets

Posted: 18 Feb 2012 11:47 PM PST

EU officials seem to be very determined to finalize the agreement on the second Greek bailout at the upcoming Eurozone finance ministers meeting scheduled for Monday. Germany is not pushing for a delay of the payment anymore and throughout Friday conference calls were held between various EU officials in order to discuss the details of the deal. The idea to of a two-step bailout procedure, proposed during a Euroz

Minutes January 24-25 FOMC Meeting: Divided House about Additional Quantitative Easing

Posted: 18 Feb 2012 07:16 PM PST

The minutes of the FOMC meeting of January 24-25 presented a range of opinions about whether further monetary accommodation through asset purchases (QE3) is necessary. At one end of the spectrum, "a few members observed that, in their judgment, current and prospective economic conditions – including elevated unemployment and inflation at or below the Committee's objective – could initiate the purchases of

EURUSD is facing 1.3026 support

Posted: 18 Feb 2012 04:44 PM PST

Minutes January 24-25 FOMC Meeting: Divided House about Additional Quantitative Easing

Posted: 18 Feb 2012 12:19 PM PST