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Oct 31, 13 •
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Comments Off on Greece credit rating is downgraded by Standard & Poor’s, as Japan’s central bank commits to more monetary stimulus.
One of the most respected credit agencies in the USA, Standard & Poor’s, has downgraded Greece’s credit rating this morning to that of an emerging market. S&P Dow Jones states that Greece no longer classifies as a developed market....
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Oct 30, 13 •
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Comments Off on Euro-zone Retail sales fall at faster rate in October, as German unemployment rises marginally whilst the markets await the FOMC decisions this evening
Eurozone retail PMI data from Markit showed a steeper drop in sales at the start of the final quarter of 2013. The Markit Eurozone Retail PMI remained below neutrality and declined to 47.7, from 48.6, indicating the fastest monthly rate of decline since May....
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Oct 29, 13 •
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Comments Off on Japanese data improves markedly as investors ponder if the BOJ’s monetary stimulus package is now working
Japan’s government authorities published several reports in the overnight/early morning session. All came in positive and ahead of economists’ expectations. Retail sales improved by 3.1% year on year, household spending increased by 3.7% and...
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Oct 28, 13 •
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Comments Off on Sterling rises to a four week high as UK house prices rise for the ninth month in succession
Hot on the heels of the UK chancellor’s decision to provide 15% deposits for home buyers, to buy any property up to the value of £600K, last week the UK saw asking prices rise 10% in a single month, way beyond the house price hysteria experienced in...
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Oct 25, 13 •
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Comments Off on UK preliminary GDP figures for third quarter show 0.8% growth. Annual growth at 1.5%
The UK’s latest GDP figure came in as predicted by many of the economists polled, but growth at 1.5% annual is still lower than the 1.6% Q2 2010 figure the coalition government. in the UK inherited from the previous government. Despite the 0.8% rise in...
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Oct 24, 13 •
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Comments Off on Europe’s PMIs fall marginally as does Spanish unemployment, investors eyes turn to focus on the USA PMI and unemployment claims
Despite the optimistic forecasts for improved service and manufacturing PMIs across the Euro area many of the prints published in the early part of the trading session have disappointed. However, this hasn’t deterred the European markets from rallying....
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Oct 23, 13 •
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Comments Off on ECB unveils bank stress test plans as China’s bank write downs spooks the markets
The timing couldn’t be more coincidental or ironic, just as Chinese banks announce significant write downs due to bad debts, The European Central Bank has announced details of a new ‘stress test’ assessment of the region’s key banks,...
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Oct 22, 13 •
2355 Views •
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Comments Off on All eyes on NFP numbers this afternoon, as UK’s net sector debt shrinks due to increased tax receipts
We’ve mentioned several times that the NFP numbers will be published lunch time UK time today, 8:30 eastern time in the USA, as opposed to the usual Friday. The 18 day delay is due to the temporary govt. shutdown. We’ve also mentioned that the...
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Oct 21, 13 •
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Sentiment improved across Asian markets in the overnight/early morning trading session, extending the relief rallies that began late last week on the belief that the US Federal Reserve will continue its monetary stimulus until past December into the New Year,...
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Oct 18, 13 •
4433 Views •
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Comments Off on China’s growth in line with expectations but exports fall sharply
Despite the figures for China’s growth coming in line with expectations the data published by the national bureau of statistics wasn’t all good. The GDP readings keep China on track to achieve the government’s 2013 growth target of 7.5%,...