ZuluTrade Blog

Sentiment in EUR/USD and on equity markets remained risk on...

Market View | Friday, November 23, 2012 3:33 AM GMT

 Good Morning  ,

 

- Low volume trading due to Thanksgiving day in US  but  Sentiment in EUR/USD and on equity markets on the other hand remained risk on .  Overnight, Asian equities generally trade stronger. EUR/USD also trades with a positive bias

- EU President Van Rompuy had bilateral meetings with all 27 EU countries on the EU budget and afterwards he presented a new proposal. Today, the EU summit will continue

- German Chancellor Merkel and French president Hollande raised doubts that an agreement on the EU budget would be hard to reach today, but this didn’t upset markets. Around midnight EU’s Van Rompuy made a new proposal to break the deadlock but a delay of an agreement remains likely. “Positions remain too far apart,” Merkel told reporters early today after the first session of a summit in Brussels. “Probably there will be no result at the end of this summit. There may be some progress but it is probable that we will need to meet again at a second stage.”

- According to a Greek official Debt buyback funded by EFSF is an option

- Schaeuble says 'no point in talking about haircuts' for Greece

- German Q3 GDP grew by 0.2% .  Private consumption picked up and also net-exports remained strong in the July till September .  Despite the European recession, the German economy continues its growth, although at a slightly slower pace . During the first half of the year, GDP growth had been somewhat larger, that is, + 0.5% in the first quarter and + 0.3% in the second quarter.

- S&P Affirms Ratings On France At 'aa+/a-1+'; Outlook Negative

- A Spanish bond auction went well and Spain started prefunding for next year

- Cyprus is close to agreeing a bailout package with the EU and IMF,  President Demetris Christofias said yesterday after the latest round of talks with international lenders. Two EU sources confirmed that  the agreement was nearly done but would be completed on

Friday.

 

- Today, Japan is closed and US trading flows will be very low and markets will close early due to ‘Black Friday’. In Europe

-  Billionaire Gina Rinehart, Asia’s richest woman, said Australia risked facing a debt crisis similar to European nations because of overspending and a loss of competitiveness. “We need to focus on earning, not spending and we need to have a good environment for investment,” said Rinehart, who has a fortune of $18.6 billion through her ownership of iron ore assets in the country. Australia is moving “towards being another Greece, Spain or Portugal.” 

 

Have a nice day !

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