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From Kimble Charting Solutions: CLICK ON CHART TO ENLARGE The Yen, Australian $ and the Euro have created pennant patterns over the past few years and each of these currencies is now breaking support of the pennant patterns. As the same time the US$ has been unable to “Close on a monthly” basis above line (1) in the chart above. Joe Friday….A close above line (1) would be bullish for the US$ and should cause further [...] Berlin. After initial reluctance, leaders of the major parties are now warning of the anti-euro party AFD. “This is very dangerous,” said SPD Chancellor candidate Peer Steinbrück “… the AFD play with prejudice and resentment in a time of further European integration was necessary.” Drastically also commented Foreign Minister Guido Westerwelle. “Are we really mad that we apply what has been built over decades, want to tear in a year?” http://www.handelsblatt.com/politik/deutschland/alternative-fuer-deutschland-anti-euro-partei-bringt-spitzenpolitiker-in-rage/8218226.html http://translate.google.de/translate?sl=de&tl=en&js=n&prev=_t&hl=de&ie=UTF-8&eotf=1&u=http://www.handelsblatt.com/politik/deutschland/alternative-fuer-deutschland-anti-euro-partei-bringt-spitzenpolitiker-in-rage/8218226.html http://www.telegraph.co.uk/finance/financialcrisis/10052268/Spanish-prelate-fears-mutual-hatred-over-euro-crisis.html The jobless rate in the Toledo region of Castilla-La Mancha is 31pc. The rate for youth has jumped to 64pc. … A new Metroscopia poll shows that 87pc of voters have lost confidence in premier Mariano Rajoy. … The Spanish government froze evictions for the most vulnerable families in November. A thousand people are still losing their homes each week, though this is less than often claimed . “They are just thrown onto the [...] The Euro Is Suddenly Diving After Mario Draghi Discusses Possibility Of Negative Rates And there goes the euro. After spiking earlier on the rate cut, the euro is diving.
FinViz
Euro tanks as*DRAGHI SAYS ECB HAS OPEN MIND ON NEGATIVE DEPOSIT RATE — Sara Eisen (@saraeisenFX) May 2, 2013 Read more: http://www.businessinsider.com/the-euro-is-suddenly-diving-after-mario-draghi-discusses-possibility-of-negative-rates-2013-5#ixzz2S8rvVuFa
9:00 AM: There was a very strong, prevailing consensus toward an interest rate cut, and within that, there was a prevailing consensus of a 25 basis-point cut. 9:02 AM: The [...] The latest employment numbers are in for Europe – and they aren’t encouraging. The 27-nation bloc is bleeding jobs, with the rate up across most of the European Union in March, according to Eurostat. In total, some 26 million people of working age, are unemployed. And youth joblessness is roughly double the overall rate for Europe. RT’s Tesa Arcilla reports it takes more than just numbers to see the true [...] armstrongeconomics.com / By Martin Armstrong / April 18, 2013 There will be no HYPERINFLATION. That assumes government sits on their hands and blindly just prints to try to please everyone. They are by NO MEANS nice people. This is about them maintaining power. They put the Euro to a vote, got it, the people will NEVER be allowed to ever vote again. The European Parliament is federalizing Europe from a power [...] by Christopher Quigley, Financial Sense: It is hard I am sure for Americans to fully comprehend the disaster that played out in the recent Cypriot Euro debacle. To get a feel for the panic that was swirling about in Europe the week before last I include a quote from the Irish Independent of 22nd March 2013: Irish property speculators fear for cash in Cypriot account. “A group of up to 30 Irish property speculators have [...] Enough is enough for the Cypriot finance minister – Michalis Sarris has handed in his notice, after securing the 10-billion-euro bailout that will see savers in two major banks pay the bill. The finger-pointing’s far from over though – as the island tries to establish who’s to blame for the country’s economic meltdown. by Jeff Berwick, Dollar Vigilante: News came out yesterday that all Cypriot banks will continue to be closed until at least next Tuesdayand may remain closed permanently. Last week, the European Central Bank threatened to cut the Emergency Liquidity Assistance which Cyprus had been receiving unless Cyprus’ major banks implemented legislation which would “tax” all investors who have accounts in Cypriot banks an amount up to 9.9 percent of their total deposits. The tax [...] from FT: Europe badly needs some good news to reverse the recent negative outlook revisions. Reports over the past few weeks have been rather bearish. The European Commission and lately the European Central Bank have downgraded their growth forecasts for the whole eurozone over the next two years. The Italian election results have made it even harder to govern the country for the coming weeks and months, which is likely to [...] British servicemembers stationed in Cyprus have been victims of the hit to local deposits. The British government has promised to reimburse them however. And now it gets even more dramatic. Euros are being airlifted to Cyprus! Read more: http://www.businessinsider.com/british-military-jet-takes-off-for-cyprus-with-1-million-euros-on-board-for-servicemembers-2013-3#ixzz2O1YPYlYY zerohedge‏@zerohedge Commerzbank’s Kinsella Says BOE Monetary Policy Is Near Limit 4 min zerohedge‏@zerohedge EURUSD oops 1.230 http://finviz.com/futures_charts.ashx?t=6E&p=m5 zerohedge‏@zerohedge Most shorted RUT stocks continue to be squeezed. Note BTH performance since this piece: http://www.zerohedge.com/news/2013-02-21/short-squeeze-hunting-presenting-most-hated-stocks-q1 Euro Crisis Is Coming Back…Again Of course there is no way of knowing how bad or deep the European recession will get, but already the European Central Bank has trimmed its forecasts and made an effort to reassure itself and the world, that ECB monetary policy “will remain accommodative [...] For all the groundless, starry-eyed optimism permeating Europe’s bureaucratic corridors of the fading oligarchy these days (because this time is not like every other time that, too, was different), there has always existed one sure, never-fail antidote: Germany, which without fail has managed to ground Europe any time its delusion of grandure hit escape velocity. Sure enough, while all the statist soothsayers who threatened with armageddon if the outcome of the [...] from Spiegel International: The euro crisis may have dropped out of the headlines recently, but Spain and Italy would seem to be doing their best to bring it back. Real estate giant Reyal Urbis’ bankrupcy has raised fresh concerns about Spanish banks and many fear that a Berlusconi election victory could drive Rome to seek emergency aid. It had become a trend among top European politicians to forecast that the worst of the [...] resourceinvestingnews.com Bloomberg reported that International Energy Agency’s chief economist, Fatih Birol, said the prices of oil are harming Europe, which will need to spend 500 billion euros on oil imports this year, over 200 billion euros more than average. As quoted in the market news: Prices are very high,” he said in a Bloomberg Television interview. The “current level of oil prices is a major impact on the global economy, but [...] tradearabia.com Last year was a year of pronounced economic uncertainty for many countries around the world and for most of them this trend will linger into 2013, according to the new report. In Europe, a fiscal crisis continues to kindle doubt about the survival of the Euro, creating uncertainty that is casting a shadow on real economic performance in 2013, said the first-quarter edition of Deloitte’s Global Economic Outlook. It also [...] the flight of capital from French banks and people are beginning to notice that actually, ultimately, the euro is not just doomed in the Mediterranean, but it is going to be impossible for France and Germany to stay together inside the same economic and monetary union. http://www.youtube.com/watch?v=zFJfSIpIbDg&feature=em-uploademail A ten-year project in Europe will use supercomputers to simulate the workings of an entire human brain for the first time. The research could lead to computers and robots that think like people. Scientists also claim that the research could unlock the secrets of memory, depression and Alzheimer’s. The European Commission announced that the Human Brain Project (HBP) will receive up to a billion euros over the next ten ten years. Read more: http://uk.news.yahoo.com/billion-euro-supercomputer-to–simulate-entire-human-brain—120811728.html ‘All hell will break loose when central bank sugar ends.’ from FT: Having solved its urgent problem, the eurozone needs to deal with a new dilemma: that of an appreciating currency. There is a growing number of countries seeking to weaken their own currencies. Indeed, in the last six months, the euro has appreciated by 11 per cent against the US dollar and by 8 per cent in nominal trade weighted terms. It has appreciated by a lot more against the [...] from Bullion Street: After doubling it’s gold reserves in the last five years, Russia said it will continue to add gold reserves to more diversify foreign reserves. According to Alexei Ulyukayev, First Deputy Chairman of country’s central bank, Bank Rossii, the share of gold has risen to nearly 10 percent, a target set in the middle of the past decade, raising market questions over whether the central bank will keep buying. Russia’s reserves, the [...] While the US continues to digest the details of the US Fiscal Cliff Deal (the only important item is that it does nothing to address our debt or deficit problems), the EU continues to proclaim the worst to be over… while its financial system crumbles from within. The latest EU official to sound the all clear is German Finance Minister Wolfgang Schauble. On Friday he told German newspaper Spiegel Online that [...] Today there was a short segment on Flemish public radio about a Flemish woman who has been living in Greece for about 15+ years. She is divorced and has 3 children and recently lost her job. With goverment child support and unemployment benefits she will now receive around 500 euro per month for 12 months after which she will no longer receive any unemployment benefits. Right now she has 200+ [...] AFP - The European Union looks set for fresh trouble this week as an extraordinary summit called to agree a long-term trillion-euro budget heads for an ugly showdown, possibly even failure. Already weakened by three years of economic crisis, the 27-nation bloc of half a billion people faces new trauma at the two-day summit starting Thursday after weeks of talks that have exposed stark divisions between pro- and anti-austerity nations, as well [...] |
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