Market Analysis

2013-04-25 05:00 GMT Enrico Letta named Italian PM Italian President Giorgio Napolitano, who was reelected to the post last weekend, has given the mandate to form a government to center-left deputy leader Enrico Letta on Wednesday.After accepting the nomination the new Italian Prime Minister said that he would form "a government of service to the

2013-04-22 03:52 GMT Japan escapes censure on the G-20 meeting he G-20 communiqué provied little fresh headlines to market participants, with the main take away on FX-relate news being the permissive stance towards Japan's monetary policies to beat deflation. The G20 communiqué is basically echoing the same position by the G7 back in February. As

2013-04-18 05:50 GMT Weidmann opens the door to an ECB rate cut and foresees a lost decade in Europe Jens Weidmann, the Bundesbank’s president, has affirmed that the European Central Bank could cut its interest rates if economic data continues worsening, according to an interview published by WSJ. Market has been speculating about the possibilities

2013-04-17 05:45 GMT IMF cuts global growth for fourth consecutive time, European recession likelihood 50% International Monetary Fund (IMF) trimmed its global growth forecast and urged European policy makers to use “aggressive” monetary policy as a second year of contraction leaves the euro area’s recovery lagging behind the rest of the world. The global economy

2013-04-16 03:28 GMT Portugal unveils new austerity measures to appease the Troika Troika inspectors arrived in Lisbon on Monday in order to carry out the seventh review of the country’s bailout program, since it had received 78 billion euros of aid in 2011. Portugal had to come up with new austerity measures to meet the

2013-04-15 03:50 GMT Eurogroup releases statement on Cyprus Eurozone finance ministers, who are holding talks in Dublin today, have released a statement on Cyprus in which they assure that the country has met all the requirements, allowing for the bailout deal to be completed. According to the document: The Eurogroup notes with satisfaction that the

2013-04-08 04:20 GMT Portugal to slash spending after court ruling setback Following the Portuguese constitutional court decision last Friday, in which certain austerity measures from the 2013 budget were rejected, Portugal's Prime Minister Pedro Passos Coelho said on Sunday the government will implement further cuts to compensate the unexpected budgetary setback, so that it can