Mar 16
Daily Market Updates
Market Highlights July 5, 2011: Standard & Poor's Rating Cut Threatens Greek, Euro corrected
Tuesday, 05 July 2011 06:23

The euro slid in trading Monday (4/7) triggered by Standard & Poor's statement on Greece's debt. Standard & Poor's yesterday said that if Greece accepted the French proposal to voluntarily change the way of raising funds by involving private sector, Greece's credit rating will be downgraded to "selective default" under the criteria of the rating agencies.

Standard & Poor's considers that the Greek bond rollover plan would be tantamount to default (default). Banking France, Greece's largest holder of debt securities, which have been proposed bonds maturing reinvested in new bonds with longer durations. This proposal is supported by Germany, holder of debt securities to the two largest Greek and European Central Bank (ECB).

Statement of Standard & Poor's is shaking the market fairly thin trading volume due to the Independence Day holiday commemorates U.S. and disperse the positive momentum established since the Euro zone finance ministers mensepakati bailout package worth 12 billion euros last week. 12 billion euro bailout is a continuation of the scheme first aid fund worth 110 billion, which until last March, a new 53 billion euros disbursed.

Market Highlights July 4, 2011: Risk-appetite Risen, Currency Safe-haven sunk
Monday, 04 July 2011 05:41

Along with the passage of the debt crisis of the Greek theme, though only temporarily, bring back the risk-appetite of market participants and the reason for the weakening of safe-haven currencies like the Japanese yen and Swiss francs on Friday trading session (seventh) ago.

As is known, the Greek parliament last week through the process of voting proposal finally passed the austerity measures proposed PM George Papandreou. The austerity measures is one of the main conditions to Greece to get the next package of aid funds from the EU and the IMF, Greece much needed funds in order to avoid the threat of default (default).

Also add to the positive sentiment for the dollar is strong U.S. manufacturing sector data released last Friday. The U.S. ISM index for manufacturing sector reportedly rose to 55.3 in June. Figure was better than expectations of economists who previously precisely estimate the index number will drop to about 51.9 from 53.5 in May.

Market Highlights, June 30, 2011: Greece Approve Austerity Package, Any Further rebound in the Euro
Thursday, 30 June 2011 06:34

One of the two events are important to Greece this week achieve positive results. Prime Minister George Was able to get a majority of Parliament, 155 to 138, the austerity policies 5 years worth 28 billion euros, generating a lot of protest action to trigger civil unrest.

Positive results were delete some worries about the threat of default (default) Greece over hutang-hutangnya. Greece must implement austerity measures as a condition of decline eventually comes through the grant worth 12 billion euro from the EU and the IMF. Parliament, however, still have to go through one more important agenda today, to discuss a law that spells out the details of the implementation of the austerity package.

Chancellor of Germany Angela Merkel in Berlin said that the austerity package is a critical step for Greece and the stability of the euro as a whole.

Market Highlights June 20, 2011: Positive Situation Greece Push Stronger Euro
Monday, 20 June 2011 05:24

market-highlightsThe optimism helped the improving situation of the Greek crisis continued euro rose for two consecutive days against the dollar trading session on Friday (17 / 6) ago. The hope that Greece will survive without sticking merestruksturisasi debt along with the indications of softening of the attitude of Germany.

As is known, the Germans before arguing with the European Central Bank (ECB) about how the role of the bondholders in terms of helping Greece.

ECB's willingness to support the French expect the creditors to rollover the bond that had matured. With a rollover, the payment is derived from the old bonds are reinvested in new bonds. This will provide additional time for Greece to show the results or the savings program until a permanent relief fund disbursed in mid-2013.

Market Highlights June 10, 2011: ECB Inflation Pressure Predict Decline, Euro Advanced corrected


Appropriate market expectations, the European Central Bank (ECB) on Thursday (9 / 6) decided to hold interest rates at 1.25 percent level. And in accordance with market expectations as well, ECB governor Jean-Claude Trichet signaled that the ECB will raise interest rates at the next scheduled monetary policy meeting, in July.

However, precisely because that's in accordance with market expectations, the euro to strengthen space is limited. There is no element of surprise at the decision and the ECB statement this time, unlike what happened last March when a surprising Trichet indicated that rising interest rates. Euro even end up having closed lower against the dollar in late trading session Thursday.

Euro really had climbed higher after Trichet said shortly spells strong vigilance (extra vigilant.) The phrase is known as a way of ECB Trichet to express concerns about inflation and an indication that interest rates will rise in the near future. Only once, namely in September 2007, the use of the phrase strong vigilance is not followed by higher interest rates on the following months.

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