Treasury yields hit their lowest in hundreds of years and global stocks dropped towards 2012 lows on Friday, as investors scrambled for lifelines on worries about Spain’s parlous finances and China’s growth outlook. US stock index futures fell sharply as job growth in May was the weakest in a year and employers added far fewer […]
Monday Morning Around the Globe Read More »
Yesterday, trading in the EUR/GBP pair was confined to a very tight sideways trading range in the low 0.8000 area. This relative calm occurred even as there were quite some headlines both from EU and the UK. The euro was under slight pressure at the start of trading in Europe as investors were disappointed on
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On Tuesday, sterling traders initially didn’t really know which way to go. Sentiment on the single currency remained fragile, but the news flow from the UK was also not really supportive for sterling. The EUR/GBP cross rate hovered in a tight range roughly between 0.8100 and 0.8080, early in Europe. There was some volatility after
Is There Life For The GBP After The IMF? Read More »
Singapore’s stock exchange approved Formula One’s plan to raise as much as USD3 bn in an initial public offering in the city-state. The people asked not to be identified because the information is private. Loh Wei Ling. Formula One’s IPO may be Singapore’s largest since February 2011, according to data compiled by Bloomberg, helping it
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This week’s main US economic data release will be durable goods orders for April on May 24. The report will shed light on the extent of the auto rebound in the US — and whether it has sustained itself going into Q2. Economic activity surrounding cars was the saving grace for Q1 GDP, responsible for
Economic Data To Watch For The Week Read More »
Sentiment on risk remained fragile and EUR/GBP tested offers just in 0.8000 areas in thin Asian trading conditions. Nevertheless, as was the case several times of late the euro tried to move away from the lows and EUR/GBP joined this move. Usually the UK PPI is not a market mover. Produces price came out below
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The euro dollar recovered from yesterday’s low of $1.2955, its lowest price since January 25, hit after an anti-austerity backlash by voters in Greece and France caused worries across markets as the defeat of incumbents raised fears that Europe’s collective efforts to resolve the euro zone’s debt crisis may falter. The euro eased 0.2 percent
A Change from Austerity to Growth Read More »
Treasury Secretary Timothy Geithner was speaking at the annual Strategic and Economic Dialogue, which has been upstaged by the case of blind Chinese activist Chen Guangcheng who on Wednesday left the US embassy where he had sought refuge after fleeing house arrest last week. The Obama Administration had hoped to showcase small signs of progress
Treasury Secretary Geithner Speaks About the Chinese Yuan Read More »
In a market surprise this morning, the little country of New Zealand was shocked by a report showing that kiwi unemployment skyrocketed. New Zealand’s unemployment rate unexpectedly rose to 6.7 per cent in the first quarter after the labour force swelled to a three-year high. The unemployment rate rose 0.3 percentage points in the three
Where Did All The Jobs Go? Read More »
The April FOMC statement differed only in a few, mostly unimportant details from the March one and contained no hint whatsoever of a change in policy. The Committee was slightly more optimistic on the economic outlook and was marginally more attentive to inflation, but at the same time upped its guard about the downside risks
Interpreting Fed Speak Read More »
