Results for 'Italy'
11 articles with this tag name
Updated Apr 23, 2013 7:40:00 PM
Several weeks ago we highlighted that if November low around $3.40 gives way, “it would confirm the resumption of the downtrend, as it would see lower highs and lower lows. If this is the case, the next key levels of support are $3.20/25 (2012 low), $3.00 (2011 low) and $2.50/55 – Triangle measure move projection. That being said, this triangular consolidation pattern took years to develop, thus it could take several weeks/months/quarters to fully play
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Updated Mar 27, 2013 6:00:00 AM
The FX space is fairly uninspiring today as Europe gears up for the Easter holiday later this week. The EUR weakened below 1.28 to its lowest level since November, while the yen also faltered after a newspaper article suggested that the BOJ will discuss merging its two asset purchase programmes into one when it meets next week. The key fundamental focus today is Cyprus and the anticipation of the re-opening of its banks, which
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Updated Mar 22, 2013 5:00:00 PM
All the talk this week was dominated by a small island country in the EU which a little over a week ago most people would struggle to even locate on a map – Cyprus. While the sheer size of the potential bailout is rather minimal, the Troika appears set in principle that they will not continue to lend to insolvent institutions. This was reinforced earlier today when the Troika decided to hike Cyprus’s bailout contribution
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Updated Feb 26, 2013 11:30:06 PM
Encouraging economic data out of the US and Bernanke’s reassurance that the Fed’s quantitative easing program is doing more good than harm is helping to lift investor sentiment after risk assets took a hammering on the back of Italy’s disappointing election result. The market was worried, and still is to some extent, that the Fed would stop its asset purchases, currently amounting to $85 billion a month, but Bernanke has signalled his commitment to QE3.
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Updated Feb 26, 2013 8:40:00 AM
Risk sentiment remained under pressure as political uncertainty in Europe weighed on markets. Political deadlock in Italy may persist for weeks as leaders began discussions to form a coalition government. Other options would be for President Napolitano to install an interim government or for the country to hold elections again. According to the final figures, Bersani won the Chamber of Deputies (lower house) by less than half a percent while Berlusconi won a blocking minority
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Updated Feb 25, 2013 11:06:10 PM
Investors flocked out of the euro and into the safe haven status of the yen, with EURJPY falling over 600 pips in less than a day. The pair has since retraced around 200 pips but is finding some sticky ground around 121.00. The sell-off was sparked by a general election in Italy which resulted in a deadlock in the legislature’s upper house. Investors were looking for a sign that Italy was going to continue along
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Updated Feb 25, 2013 4:30:00 PM
Risk sentiment was markedly lower today as the results of Italy’s elections showed no clear winner at time of writing. Italy has the largest amount of debt outstanding in the Euro zone, and political instability threatens both economic and financial stability which is already quite fragile. Equities tumbled on the uncertainty, Italian yields rose, US yields declined and in FX, the EUR plunged while the JPY outperformed. EUR/JPY was hit hard with the pair falling
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Updated Feb 24, 2013 10:50:34 PM
An election in Italy, political wrangling in the US and mounting tension over BoJ nominations is keeping investors on their toes. The outcome of each event has the ability to significantly impact price action. Consequently, EUR is looking very nervous ahead of tonight’s final day of voting in Italy, while JPY looks to be banking on a very dovish nominee for BoJ Governor from PM Abe. Commodity currencies didn’t escape unharmed, with AUD and NZD
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Updated Dec 27, 2012 12:29:37 AM
The connection between the yen and the power handover in Japan continues to dominate sentiment in Asia, with the latter causing ongoing weakness in the former. Since Abe and his cabinet were officially sworn in earlier this week, the yen has been on the back foot. Yen traders are clearly concerned that Abe will live up to his pre and post-election promises. Abe continues to drive the yen lower The promises made by the LDP
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Updated Dec 10, 2012 7:00:00 AM
The markets are in risk-off mode today after news at the weekend that Italian PM Monti plans to resign after the next Budget. This means that elections are now likely to take place sooner than planned, and could happen as early as February. This is a concern to the markets for a couple of reasons: 1, since Monti isn’t going to run, will the new government support economic reform and fiscal consolidation efforts demanded by
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