-
23-05-2005, 08:12 PM
#141
@#$%^$%$#@$ power cuts
-
24-05-2005, 12:55 PM
#142
NEW YORK (AFX) -- The dollar was lower late Monday afternoon, as it gave
back a small potion of its recent sharp gain and currency markets reviewed
several political developments which could imperil the euro.
In recent trades the euro was up 0.2% at $1.2581, after earlier falling to
$1.2533, its weakest standing since October. The dollar was down 0.5% at 107.60
yen.
With no U.S. economic reports Monday, currency market players turned their
attention to events overseas.
The French daily Liberation Monday reported that 52% of French voters are
expected to reject the referendum on the European constitution to be held next
Sunday.
Currency markets also tracked reports from Holland indicating that an even
larger number of Dutch voters may reject a similar referendum on the
constitution on June 1.
The eurozone also was surprised by a call from Chancellor Gerhard Schroeder
for early general elections in Germany, following the defeat of his Social
Democratic Party in a key regional election in North Rhine-Westphalia.
Italy too is in trouble with rising debt levels at a time when its
manufacturing sector is nearing a recession, according to Boris Schlossberg,
senior currency strategist at Forex Capital Markets.
Although some observers are asking whether the eurozone is on the verge of a
breakup, Schlossberg said some of the new developments could actually support
the union and the euro.
For instance, a defeat of the German Social Democratic Party "may be a
blessing in disguise as it could allow the more market-oriented opposition to
more easily implement structural reforms already started by Gerhard Schroeder,"
according to Schlossberg.
"Finally, with the euro fully 10 cents lower against the dollar since the
beginning of the year, the exact same dynamic that drove Italian industry into a
steep slowdown may provide it with some much needed competitive edge,"
Schlossberg said.
Lara Rhame, global currency strategist at Credit Suisse First Boston, noted
that, although the new political and economic developments were euro-negative,
the euro itself was higher against the dollar Monday.
"There is a general long-term assessment of euro-zone politics, so you don't
have surprise intraday movement," Rhame. "It's more sort of long-term view of
the euro zone that the politics there are counterproductive for the euro."
David Solin, a partner in Foreign Exchange Analytics, predicted that the
euro could drop to $1.2450 overnight and said it should remain under pressure
for the rest of the month.
Focus on U.S. revised GDP
Later this week, investors will be watching revisions to first-quarter U.S.
gross domestic product data due out Thursday, for clues to the strength of the
U.S. economy.
Markets were spooked in late April when the preliminary estimate of GDP
showed the growth pace for the largest global economy slowing to 3.1% in the
first quarter from 3.8% in the fourth quarter.
However, a number of strong economic reports released in May have stoked
hopes for a strong upward revision in the GDP data. The MarketWatch forecast,
based on a poll of economists, is for an upward revision to 3.5% and other polls
indicate an even higher reading.
Japanese yen
Overnight the dollar drew support from remarks Monday made by Chinese Vice
Premier Wu Yi, who said the country has no timetable for lifting the dollar-peg
on its yuan and will not do so unless conditions are right.
"As for when we will conduct the yuan rate reform, there is no timetable,"
Wu told a forum in Tokyo. "If the conditions are right, we will conduct reform
voluntarily, even without pressure from foreign countries."
"If the conditions are not right, we will not carry out the reforms, no
matter how much pressure foreign countries exert," she said. "In a word, we will
abide by market rules, but we will not succumb to external pressure."
This story was supplied by MarketWatch. For further information see
www.marketwatch.com.
___________________
___________________
-
24-05-2005, 01:08 PM
#143
cheers arco
interesting reading
slam
-
24-05-2005, 06:15 PM
#144
i'm actually finding thats its difficult to keep track of the profit/loss of my positions esp now that i am holding them for more than one day.
my platform rolls over my positions and sets my trade price to a new level. so i dont know where I stand anymore. kinda sux in my opinion. Seems so naff that I have to keep manual records.
(Of course I can run reports etc - but thats too much trouble)
-
24-05-2005, 06:22 PM
#145
-
24-05-2005, 06:55 PM
#146
-
24-05-2005, 07:10 PM
#147
Usually try and eat something after 5 as 6 can be a good time to watch,Murphy made dinner tonight[V].
-
24-05-2005, 09:02 PM
#148
Xerof just set up your eur/jpy on a screen,see how goes with my other 3.
-
25-05-2005, 09:15 AM
#149
Peat, it won't be long before they'll pay us for being long USD - another hike or two, and Euroland rates will be lower than US, but agree - holding short GBP, AUD and NZD for too long does add up in terms of cost
-
25-05-2005, 09:20 AM
#150
Has anybody got or trialled Esignal for charts - they seem to have a very extensive tool-kit and some nice add-on packages from various 'experts'
TIA
Xerof
Posting Permissions
- You may not post new threads
- You may not post replies
- You may not post attachments
- You may not edit your posts
-
Forum Rules
|
|
Bookmarks