On the last business day of March, the EU Finance Ministers announced their latest attempts to stave off the eurozone debt crisis by boosting the eurozone’s firewall to €800 billion ($US1.07 billion) on the same day as the new Spanish government Mariano Rajoy unveiled a massive cut in its budget deficit together the news failed […]
The EU Firewall – A Lifeline For Spain Read More »
The EUR/USD extended the downward correction that started earlier this week. The move was to a large extent inspired by end of quarter repositioning. Negative headlines on the European economy and risk-off sentiment on the equity markets were no help. And of course, instigated by Fed Chairman Bernanke’s comments. A late session rebound on the
Weekly Review Of The EUR/USD Read More »
The Japanese currency rose, not just as a traditional destination for safe-haven seekers but potentially as Japanese companies and investors may be selling foreign investments and repatriating profits as the end of the nation’s fiscal year is at hand. The dollar pared losses to ¥82.45 compared with ¥82.78 late Wednesday. The euro followed suit, dropping to ¥109.36
A Quick Look At The Yen, The Aussie And The Kiwi As The Month Closes Read More »
The EU commission, which is warning that euro-zone governments shouldn’t get complacent, also favours a much bigger firewall. It argues one is needed to signal to the market in advance that other euro-zone governments stand ready to backstop our bigger member states under pressure, and calm contagion. By implication, if the firewall isn’t big enough, the market will doubt the
It’s Magic – Turning 80 Billion Euro Into 1 Trillion Read More »
Over the past few weeks, oil prices have continued to soar as speculators use the geopolitical stress from the Islamic Nations to drive prices up. Recently, the Saudi nation has been publicly making statements that they and OPEC have increased production and that there would be no supply disruption. There words did not quell the
European share markets have closed lower, with investors hesitant after recent gains on concerns over China and the eurozone and data showed the British economy in worse shape than first thought. The British economy contracted 0.3% in the final three months of 2011 compared to the previous quarter, the U.K. Office for National Statistics reported
US And EU Markets End The Day Down Read More »
A week ago, the US jobs report, showed a reduction in unemployment claims, earlier in the month, the jobs report showed consistent new hiring’s. The US economy has been on a slow recovery path. This past week, some negative housing data and consumer sentiment reports along with a downbeat speech by Fed Chairman Bernanke has
US Economic Recovery Supported By Durable Goods Report Read More »
The Reserve Bank of Australia released its Financial Stability Review, which is released twice per year and contains an assessment of conditions in the financial system and potential risks to financial stability. In the report just released this morning, the Reserve Bank of Australia wrote that international financial markets have stabilized since last year and
RBA Releases Positive Stability Review Read More »
This past weekend, Germany said it was willing to back a temporary increase in euro-zone funds to help prevent the debt crisis in the bloc’s periphery from jumping to other member states, according to a report Monday. According to Angel Gurria, secretary-general of the OECD: [quote]Euro-zone finance ministers meeting this week need to boost the
OECD Tells EU To Man Up Read More »
So which comes first? Jobs or home sales? Purchase contracts to purchase previously owned homes in America, unexpectedly dropped last month, suggesting a loss of momentum in the housing market after recent signs of improvement. The National Association of Realtors (NAR) reported its Pending Home Sales Index, based on contracts signed in the prior, dipped
It's The Chicken And Egg Story Read More »
