unclenna: even Nolly042.

naijaobi: [size=14pt]PLZ GUYS HELP ME OUT ON THIS[/size]: PLZ IS THERE ANY WEBSITE WHERE I CAN GET THE PRE-MARKET ANALYSIS..LIKE SAY GET THE MARKET ANALYSIS OF 7TH JUNE TODAY BEING 6TH JUNE...
BY MARKET ANALYSIS I MEAN IF EUR/USD ETC WILL BE ON THE UPWARD OR DOWNTREND LEVELS...
THANKS

FXKing2012: hahahahha...where have the traders gone? Hope they've not blown their accounts (lol). Novice traders run here to make noise about their profits cos they made some money not knowing the market always has a surprise awaiting them. This takes years of experience to know and understand though.

WINNINGWAYZ: They also serve green pips to them that waiteth. Thank you rsi 7 and obedient EU on 4hr chart. The journey has started.

tobinson: Hi big bros in da house am new here but not new on nairaland, it time i get ur advice i jst wana start fx dis mnth,bt i av not really started cos i nid info and directions to go abt it,,,,, i got my lap-top a domi acct.....so i nid to trade on Demo sha.... Though am planning to get connection(modem). Pls advice me and teach me

ItGeek:



lol

As European FinMins Discuss Giving Spain €100 Billion, Spain Has Yet To Request A Bailout


The European financial ministers' meeting started at 4:00 pm CET. What are they discussing? According to the WSJ, nothing short of "a commitment to provide as much as €100 billion ($125 billion) in support for Spain's ailing banking sector." At least we now know that that Spanish bank trot so widely avoided by the mainstream media was just a little more kinetically-charged than previously expected, because for Spain to actually demand the money, even if implicitly, it means it has a capital shortfall, which can only arise from an outflow of liquidity, as mere real estate impairments do not have any impact on liquidity. So far so good. There is only one problem: Spain has yet to formally request the money! According to newspaper ABC, "Spain wants to convince European partners that IMF shouldn’t participate in aid for country’s banks because of potential stigma. Aim of talks taking place today is to agree legal framework and conditions for a potential rescue, newspaper says." Potential rescue you see: not an actual one. Just because, as we explained patiently to the 5 year old algos out there, Spain will have none of this "conditionality" that would be imposed on it by Germany, and the IMF, should it actually be formally a bail out target. Which of course would also have the unpleasant side effect of pushing its spreads tighter for a few hours, then blowing them out parabolically once carbon-based investors out there realize what has just happened. As for the ultimate question: just where will €1 of money come from in this broke continent, let alone €100 billion... why, better not to bother with details.

To summarize: Europe is desperate to force Spain to accept a bail out, which the US will pay for.

And so look forward to headlines in 3-4 hours which promise much, but say nothing. Something along the lines of: "European FinMins are committed to providing Spain with financial assistance should it request it."

In other words nothing new.

More from the WSJ:

Spain, which is reeling from a real-estate meltdown, has not requested aid for its financial companies yet, the official said, adding that no disbursements are likely to come before the end of the month, when two independent consulting firms have finished their assessment of the country's banking sector.



However, the euro zone agrees that "quick and radical action" targeted at Spain's banking sector is necessary, the official said.



He said the draft statement mentions €100 billion as the "top figure" of support that Spain could get, but that the exact size, form and time frame of a bailout for the banks wasn't yet decided.



"That figure is mostly for the markets and doesn't mean that the actual disbursements have to be that much," he said.



The draft statement focuses on conditions linked to Spain's banking sector, but also requires Spain to resolve macroeconomic imbalances that the European Union has previously revealed, the official said.

nolly042:
my brother i dey jare. just that my hard disk crashed and i lost my trading account details. just got back online yesterdy but hope to join u guys soonest.

FXKing2012: hahahahha...where have the traders gone? Hope they've not blown their accounts (lol). Novice traders run here to make noise about their profits cos they made some money not knowing the market always has a surprise awaiting them. This takes years of experience to know and understand though.

unclenna: Please where is Odiaero my man and Tonjoan too.

tobinson: Hi big bros in da house am new here but not new on nairaland, it time i get ur advice i jst wana start fx dis mnth,bt i av not really started cos i nid info and directions to go abt it,,,,, i got my lap-top a domi acct.....so i nid to trade on Demo sha.... Though am planning to get connection(modem). Pls advice me and teach me

bros when did you know about forex 2) how long have you gathered knowledge 3) do you have any trading system at all? have you used demo to test it? 4) do you have a trading rules and plan? if all your answers to this questions is NO. then get ready to blow your account. You better not go live until you get all these.

tonjoan:

Like I told u on Facebook bro, pretty very busy lately. When I shed off some loads will make it back here.

tobinson:
i blive u guys will help a fellow broda lik me,and pls advice me on Apari cos its my broker..... Help me ooo

unclenna: IMF, US praise 100 bn euro bank deal for Spain

The IMF and US both praised a Eurogroup deal giving Spain a lifeline of up to €100 bn ($125 billion) to save its stricken banks, with International Monetary Fund Managing Director Christine Lagarde calling it a "credible back stop" for the banking system.

"I strongly welcome the statement by the Eurogroup, which complements the measures taken by the Spanish authorities in recent weeks to strengthen the banking system," said Lagarde.

"Providing a credible back stop to recapitalize weaker segments of the banking system has been a key recommendation of the IMF's recent Financial Sector Assessment Program (FSAP) conducted in Spain," she said.

Lagarde also had words of praise for the operation's scope.

"The willingness of Spain's Euro Area partners to financially support the Fund for Orderly Bank Restructuring (FROB) with up to EUR 100 billion is a crucial step for the success of the Spanish authorities' strategy," she said.

"This scale of proposed financing, which is consistent with the capital needs identified in the FSAP, gives assurance that the financing needs of Spain's banking system will be fully met.

"The IMF stands ready," said Lagarde, "at the invitation of the Eurogroup members, to support the implementation and monitoring of this financial assistance through regular reporting."

US Treasury Secretary Timothy Geithner also welcomed the moves, saying: "These are important for the health of Spain's economy and as concrete steps on the path to financial union, which is vital to the resilience of the euro area."

German Finance Minister Wolfgang Schaeuble also hailed the deal for Spain, saying he and his colleagues welcomed Madrid's "determination" to recapitalise the banks with "rescue funds".

His French counterpart Pierre Moscovici called it a good agreement which gives "a very strong signal of solidarity" among Spain's eurozone partners.

Japanese Finance Minister Jun Azumi joined in praising the lifeline Sunday, calling it a "major first step" toward stabilising the European and global economy.

"The confirmation of the scheme worth 10 trillion yen (100 billion euros or $125 billion) should greatly contribute to stabilisation," Azumi told local reporters, referring to both the global economy and Spain's troubled banking system.

"I hope that such actions will continue to be taken flexibly with a sense of speed. In that respect, I think this is a major first step," he said.

After the hastily organised video conference, lasting more than two hours on Saturday, the 17 eurozone finance ministers issued a statement saying they were "willing to respond favourably" to a Spanish plea for help.

The deal marks a dramatic climbdown for Spain, where successive governments have hotly denied any need for outside aid.

Prime Minister Mariano Rajoy's conservative government finally bowed to pressure from world leaders and, more importantly, the markets, which have sent Spanish borrowing costs soaring.

"The Spanish government declares its intention to solicit European financial help for the recapitalisation of those banks that need it," a visibly tense Economy Minister Luis de Guindos told a news conference.

De Guindos refused to describe the aid as a rescue deal, which his government had categorically ruled out right up to the last moment.

"This has nothing to do with a rescue," he insisted, arguing that the aid would be directed to the 30 percent of banks with the greatest exposure to the 2008 property market crash.

The deal imposed no conditions on the overall Spanish economy, and no new austerity measures, de Guindos stressed.

"The only conditions are for the banks," the finance minister said, conceding however that the deal will further increase Spain's mushrooming public debt.

Nevertheless, the eurozone ministers said they were confident Spain would honour commitments to cut the deficit and restructure the economy. "Progress in these areas will be closely and regularly reviewed," they said in the statement.

Spain, which will become the fourth eurozone state to receive financial help since the sovereign debt crisis erupted two years ago, finally sought aid as the cost of buttressing the banks spiralled in past weeks.

Recently nationalised Bankia, which has the largest exposure to the real estate sector, needs 19 billion euros to repair its books.

Under Saturday's deal, up to 100 billion euros would be provided by the European rescue mechanisms to recapitalise Spanish banks, the eurozone ministers said, providing an "effective backstop" for all possible requirements.

"So we have a new concept. A 'lite' bailout with no material conditions on the sovereign and instead merely the banks that apply," Lloyds Banking Group economist Charles Diebel said in a report.

"This is the latest in the long list of euro measures to stem the crisis. Will it be enough? That's questionable as it is still prevention rather than cure and again only keeps the banking sector alive rather than really supporting growth."

The scale of the aid depends on an external audit being carried out for Madrid by consultants Roland Berger and Oliver Wyman. The audit is due by June 21 but de Guindos said it would ready within a few days.

De Guindos stressed that the 100 billion euros included a big safety margin.

"This announcement is good news for the Spanish economy and for the future of the eurozone," he said.

International Monetary Fund bank stress tests, unveiled Friday three days ahead of schedule, determined that Spanish banks need about 40 billion euros in new capital.

But an IMF official noted that the banks would probably need more than that to build a "credible firewall".

The assistance is to be channelled through Spain's state-backed bank Fund for Orderly Bank Restructuring, eurozone policymakers said.

Policymakers hope the rescue will satisfy financial markets and put Spain in a safe harbour ahead of the Greek elections on June 17, which risk leading to a destabilising exit from the eurozone.

unclenna: IMF, US praise 100 bn euro bank deal for Spain

The IMF and US both praised a Eurogroup deal giving Spain a lifeline of up to €100 bn ($125 billion) to save its stricken banks, with International Monetary Fund Managing Director Christine Lagarde calling it a "credible back stop" for the banking system.

"I strongly welcome the statement by the Eurogroup, which complements the measures taken by the Spanish authorities in recent weeks to strengthen the banking system," said Lagarde.

"Providing a credible back stop to recapitalize weaker segments of the banking system has been a key recommendation of the IMF's recent Financial Sector Assessment Program (FSAP) conducted in Spain," she said.

Lagarde also had words of praise for the operation's scope.

"The willingness of Spain's Euro Area partners to financially support the Fund for Orderly Bank Restructuring (FROB) with up to EUR 100 billion is a crucial step for the success of the Spanish authorities' strategy," she said.

"This scale of proposed financing, which is consistent with the capital needs identified in the FSAP, gives assurance that the financing needs of Spain's banking system will be fully met.

"The IMF stands ready," said Lagarde, "at the invitation of the Eurogroup members, to support the implementation and monitoring of this financial assistance through regular reporting."

US Treasury Secretary Timothy Geithner also welcomed the moves, saying: "These are important for the health of Spain's economy and as concrete steps on the path to financial union, which is vital to the resilience of the euro area."

German Finance Minister Wolfgang Schaeuble also hailed the deal for Spain, saying he and his colleagues welcomed Madrid's "determination" to recapitalise the banks with "rescue funds".

His French counterpart Pierre Moscovici called it a good agreement which gives "a very strong signal of solidarity" among Spain's eurozone partners.

Japanese Finance Minister Jun Azumi joined in praising the lifeline Sunday, calling it a "major first step" toward stabilising the European and global economy.

"The confirmation of the scheme worth 10 trillion yen (100 billion euros or $125 billion) should greatly contribute to stabilisation," Azumi told local reporters, referring to both the global economy and Spain's troubled banking system.

"I hope that such actions will continue to be taken flexibly with a sense of speed. In that respect, I think this is a major first step," he said.

After the hastily organised video conference, lasting more than two hours on Saturday, the 17 eurozone finance ministers issued a statement saying they were "willing to respond favourably" to a Spanish plea for help.

The deal marks a dramatic climbdown for Spain, where successive governments have hotly denied any need for outside aid.

Prime Minister Mariano Rajoy's conservative government finally bowed to pressure from world leaders and, more importantly, the markets, which have sent Spanish borrowing costs soaring.

"The Spanish government declares its intention to solicit European financial help for the recapitalisation of those banks that need it," a visibly tense Economy Minister Luis de Guindos told a news conference.

De Guindos refused to describe the aid as a rescue deal, which his government had categorically ruled out right up to the last moment.

"This has nothing to do with a rescue," he insisted, arguing that the aid would be directed to the 30 percent of banks with the greatest exposure to the 2008 property market crash.

The deal imposed no conditions on the overall Spanish economy, and no new austerity measures, de Guindos stressed.

"The only conditions are for the banks," the finance minister said, conceding however that the deal will further increase Spain's mushrooming public debt.

Nevertheless, the eurozone ministers said they were confident Spain would honour commitments to cut the deficit and restructure the economy. "Progress in these areas will be closely and regularly reviewed," they said in the statement.

Spain, which will become the fourth eurozone state to receive financial help since the sovereign debt crisis erupted two years ago, finally sought aid as the cost of buttressing the banks spiralled in past weeks.

Recently nationalised Bankia, which has the largest exposure to the real estate sector, needs 19 billion euros to repair its books.

Under Saturday's deal, up to 100 billion euros would be provided by the European rescue mechanisms to recapitalise Spanish banks, the eurozone ministers said, providing an "effective backstop" for all possible requirements.

"So we have a new concept. A 'lite' bailout with no material conditions on the sovereign and instead merely the banks that apply," Lloyds Banking Group economist Charles Diebel said in a report.

"This is the latest in the long list of euro measures to stem the crisis. Will it be enough? That's questionable as it is still prevention rather than cure and again only keeps the banking sector alive rather than really supporting growth."

The scale of the aid depends on an external audit being carried out for Madrid by consultants Roland Berger and Oliver Wyman. The audit is due by June 21 but de Guindos said it would ready within a few days.

De Guindos stressed that the 100 billion euros included a big safety margin.

"This announcement is good news for the Spanish economy and for the future of the eurozone," he said.

International Monetary Fund bank stress tests, unveiled Friday three days ahead of schedule, determined that Spanish banks need about 40 billion euros in new capital.

But an IMF official noted that the banks would probably need more than that to build a "credible firewall".

The assistance is to be channelled through Spain's state-backed bank Fund for Orderly Bank Restructuring, eurozone policymakers said.

Policymakers hope the rescue will satisfy financial markets and put Spain in a safe harbour ahead of the Greek elections on June 17, which risk leading to a destabilising exit from the eurozone.

nolly042:
@honeric HBD from me

unclenna: with this success i assume a bullish EU and GU bias this week.

tonjoan: It always is amazing how sentiments and fundamentals line up with the charts. Sentimentally, I knew the British economy will be bouyed from june through to july due to the summer olympics. This naturally will spill over to the european bloc. Amazingly, the reversal was seen on the charts 1st june. Enjoy ur bulls bro.

pipmaster77: Serious gap o. EU has already reached 1.261 as a result of the Spain lifeline. Happy are you if you have long position opened last week like me

aguiyi:
lies, i can only see gap on GU (presently trading at 1.5510 while EU is still at 1.2518

bond777:

Bros de current price shows dere 'll b over 120 pips gap on EU http://www.forexdirectory.net/quotesfx.html

cheers