Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

EUR/USD downtrending but short term oversold. Could bounce higher before heading back down. We'll have to see.

Also, most of the action should be over for the day.

Yes that is true, the party seems to be over. Thankyou very much.

Originally Posted by rickos

I didn't quote you, in order to save space.
Yes, France IS one of the countries that is standing by Greece. Greek TV is constantly pointing this out. In fact, it keeps showing the member of the French Parliament (or French member of the EU parliament-not sure since I am in the US) that was screaming that Greece SHOULD be helped, and that although Greece is in a bad situation, the failure of the EU to stand by Greece all these years, forcing her into exhorbitant defense expenditures has brought her to the brink. One thing is for sure, Greece does NOT forget.
Thank you.

BTW, congradulations on being the only major with a positive GDP number for the fourth quarter.

Official figures out of Europe show that the Eurozone barely had a pulse — growing only .1%; a mere one-fourth as fast as predicted in the last three months of 2009.

The German and Portuguese economies failed to grow at all ... Spain’s economy contracted .1% and Greece’s economy shriveled by.8%.

That brings total economic growth in the European Union to a MINUS 2.3% for the year!

Meanwhile, the news from our side of the pond wasn’t much better: Foreign investors are recoiling in horror from Washington’s spending and borrowing spree: Yesterday’s auction of 30-year treasuries was a huge disappointment — only about 28.5% of the issues were sold to indirect bidders.

Nevertheless, even as the likelihood of a double-dip recession increases in Europe and the U.S., Washington and Wall Street are continuing to tout their Pollyanna propaganda.

Just yesterday, for instance, president Obama announced that the U.S. will ADD an average of 95,900 new jobs every month this year, while Wall Street’s talking heads continued urging investors to get off of the sidelines and risk getting skinned yet again!

No wonder so many Americans are FED UP with Washington and Wall Street

Adding on to Cody's post ...here's an article from the Economist:

Feeble growth in the euro zone: The sick men of Europe | The Economist

Originally Posted by CodyB

Official figures out of Europe show that the Eurozone barely had a pulse — growing only .1%; a mere one-fourth as fast as predicted in the last three months of 2009.

The German and Portuguese economies failed to grow at all ... Spain’s economy contracted .1% and Greece’s economy shriveled by.8%.

That brings total economic growth in the European Union to a MINUS 2.3% for the year!

Meanwhile, the news from our side of the pond wasn’t much better: Foreign investors are recoiling in horror from Washington’s spending and borrowing spree: Yesterday’s auction of 30-year treasuries was a huge disappointment — only about 28.5% of the issues were sold to indirect bidders.

Nevertheless, even as the likelihood of a double-dip recession increases in Europe and the U.S., Washington and Wall Street are continuing to tout their Pollyanna propaganda.

Just yesterday, for instance, president Obama announced that the U.S. will ADD an average of 95,900 new jobs every month this year, while Wall Street’s talking heads continued urging investors to get off of the sidelines and risk getting skinned yet again!

No wonder so many Americans are FED UP with Washington and Wall Street

Yeah, 6 of 8 nations still have a negative GDP readings on a year over year basis. America is hanging on by a thread. Australia is the only one notably susstaining their GDP right now, and it's nothing massive.

I agree. There's a huge chance of a double dip recession.

Originally Posted by arnab

Adding on to Cody's post ...here's an article from the Economist:

Feeble growth in the euro zone: The sick men of Europe | The Economist

even more reasons to short the rallies

America is not out of the woods yet, far from it, housing has not hit bottom and commercial real estate has not yet either.

There are many loans written in 2006 and 2007 that are ARM's that come out this year and next.
A planet does not recover from near disaster this quickly and JOBS are not being brought back nor created regardless of what the administration says

Times are tough in the Eurozone as well as the US. There may end up being minimal or no financial assistance for Greece. the financial markets freak out at the idea of sovereign default, but it is actually not much different from corporate bankruptcy. I would still short the euro rallies for the time being

Originally Posted by CodyB

even more reasons to short the rallies

America is not out of the woods yet, far from it, housing has not hit bottom and commercial real estate has not yet either.

There are many loans written in 2006 and 2007 that are ARM's that come out this year and next.
A planet does not recover from near disaster this quickly and JOBS are not being brought back nor created regardless of what the administration says

Yeah, if banks aren't lending like they should...and corporations aren't flourishing...I don't see how there can be a meaningful recovery in the job market either. Not yet.

politicians are hypocritical in their speeches ... Not new

I just filed my taxes yesterday and judging buy the return I received I would say the equity market will show good profit this quarter.That and the fact that the government seems to want to pull the banks and retail traders from forex market by insane leverage limitations. And Obama wants to double exports this year as stated in his state of the union address. All these things make me doubt the continuing gain for dollar for the long term.Of course Im not a professional trader so I may be very wrong. Just my opinion trade at your own risk.

Originally Posted by sandpipper

Wow...there's so much going on in that chart...where's the price? haha!

It's probably gonna settle around 1.3610 at closing time. Question: will there be a big gap Sunday night at the Asian open? I think I'm getting out with a small profiit. short at 1.3630

Bill

Originally Posted by bill2759

It's probably gonna settle around 1.3610 at closing time. Question: will there be a big gap Sunday night at the Asian open? I think I'm getting out with a small profiit. short at 1.3630

Bill

We'll see.

Originally Posted by Sean Hyman

We'll see.

Of course we'll see Big Guy! I want you to get out your Crystal Ball and give a Prediction

Bill