News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Cyclical and non-cyclical stocks can help diversify a trader’s equity portfolio. Get your guide to understanding these stocks here: https://t.co/h7BKTd2J8N https://t.co/ukOW0dWJxf
  • Beautifully put. https://t.co/0fBsmUH6Pb
  • Gold prices could claw back lost ground ahead of the non-farm payrolls report for November, buoyed by a dovish FOMC, falling real yields and rising inflation expectations. Get your $XAUUSD market update from @DanielGMoss here:https://t.co/3mqut0yQIQ https://t.co/nfyycibwKM
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/UWnLJHVPN4
  • Rather than focusing on earning a specific number of pips per day, traders need to focus on what can be controlled. In trading terms this relates to following a strategy perfectly, with no emotion or hesitation. Learn more here: https://t.co/6ZH026QLRN https://t.co/JJIyKh8r1l
  • That if you’re offended by what someone says on Twitter and that ruins your day, you live an extremely lucky life to be able to have that be your biggest problem for the day. https://t.co/H9KQjR3ViK
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here: https://t.co/EDvQdHfIPm https://t.co/tl54v6sKkX
  • Moving averages are extremely popular due to its easy-to-use nature and multitude of uses when trading. What are some popular moving averages and how can you use them? Find out: https://t.co/ik0wQ3MLGE https://t.co/heAYoTMDeR
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:https://t.co/ZNs4Qi8ieG https://t.co/UqZBBPZiOl
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/rChAkNqPL2
Market Vibrations: News and Commentary from the Europe Desk

Market Vibrations: News and Commentary from the Europe Desk

2012-01-24 05:00:00
Research, Research Team
Share:

US EQUITIY FUTURES: Tracking lower

COMMODITIES: Bearish

CURRENCY WINNER/LOSER: +GBP, -AUD

LATEST REPORT: "Morning Slices"

1230 GMT: The ILO annual global employment trends report has come out throwing a further damper onto global market sentiment, stating that the global labor market faces an "urgent challenge" of creating 600mln jobs over the next decade. Meanwhile, the Europeansession is set to close out with no Greek debt deal, which keeps market forcus on European developments notwithstanding today's Fed meeting (stay posted). German FinMin Schaeuble weighing in right now with a speech, in which he has reiterated the urgent need for all Greek parties to accept EU and IMF reform packages. He also added that Greek debt sustainability at 120% of GDP must be guaranteed. European equitiy markets are reflecting the credit cruch with DAX, CAC, and FTSE all down on the day by some 1%.

1110 GMT: Fitch has weighed in on the Aussie ban of Iranian oil, saying the ban by the EU and US and now Australia will support high oil prices. Iran has again threatened to close the Hormuz Straits, but oil thus far today remains largely unaffected. Battle lines on austerity measures continue to be drawn in Europe with France and Italy moving closer together amid demands that Germany contrinute more to relief efforts. From the UK, BoE's King is scheduled to give a speech soon, fuleing speculation that the UK may engage in further QE.

0952 GMT: French, German, and Eurozone PMIs coming in pretty strong across the board, highlighted by Eurozone PMI composite breaking the barrier into expansion at 50.5 (expectation was 48.5). The Euro rallied strongly before stalling out by ket resistence at 1.3070.

Solid data for UK debt also, with PSNB falling to GBP 13.7B from the revised prior 17.9B. Expectation was 14.9B. Eleswhere, the Greek FinMin reponded to statements from his Swedish and Dutch counterparts by saying that Greece wants to complete debt restructuring talks this week. The conservative Greek opposition leader Samaras followed up say the bond swap deal should be completed by March 5, "at the latest." Iran creeping into the news as well with the Aussie Foriegn Minister saying his country will follow the EU in banning Iranian oil.

0844 GMT Negative and positive remarks coming out of Europe over the past hour regarding the Greek debt issue, with the Dutch and Swedish FinMins voicing concen over the current situation's "failure." The German FinMin has said that negotiation for a jumpstarted launching for the ESM have been completed (more to follow). Meanwhile, German and French PMI came out better than expected. Stay tuned for EC PMIs within the hour.

0730 GMT Greek PSI developments are expected to continue today after EU and Greek officials brawled with creditors yesterday. IMF's Lagarde weighing in over the past hour stating that the Euro needs EUR 1trl in financing over the next two years, putting her at odds with ESM and AFSF paymaster Germany.

0620 GMT A day of risk consolidation seems to be in the making with markets barely moving thus far in the European session. Headlines from the Asian session included the EU FinMin meeting aftermath which saw the focus shift back to Greece. Juncker (EU) and Regling (EFSF) were cautious, making it clear that Greece must hammer out an agreement with the Troika immediately. Juncker this morning also pushed for lower rates on Greek PSI, while dismissing talk of Greece leaving the Eurozone. Meanwhile, the Bank of Japan last night left interest rates at current levels, as was widely expected.

Market Vibrations is a new DailyFX feature which follows the European trading session with real-time updates and breaking news and analysis. It is updated regularly, so check back for the latest FX developments.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES