The Greek government made its re-negotiation platform (for talks with the Troika) public. They ask to extend the deadline for meeting the fiscal criteria by 2 years. They also want to scrap plans to cut 150K public sector jobs, repeal the 22% cut in the minimum wage and raise the income tax threshold. They apparently […]
Before the EU Summit Greece Makes its Demands Public Read More »
The Greek election results make a near-term exit of Greece unlikely, but the longer term outlook regarding euro participation is still uncertain. No party won an absolute majority, but the New Democracy came out first with about 30% of the popular vote and 129 seats (including the 50 seats extra the winner secures according to
The Battle Might Have Ended in Greece but the War Continues Read More »
Today Gold futures prices have seen little changed from the prior closing and Asian stocks dropped after Spain’s credit rating was cut which has renewed the concern of European crisis contagion to the global growth. The Euro however is showing slight strength against the dollar amid anticipation of a win of new democracy which would
Gold and Silver in the Shadow of Spain and Greece Read More »
Rumors are that the ECB is going to step in an assist the Spanish Banks. Greece is considering replacing the euro and Europe cannot decide between austerity and growth on the back of a stimulus injection. There are many casualties in this European confusion, mostly investors nerves, and global confidence in the leadership of the
Rumors Innuendo and Worries Emanate from the EU Read More »
Gold has dropped for a third day as worries about the fallout from a potential Greek exit of the euro zone pushed investors to pile into the US dollar. With little action announced from the EU Summit in Brussels yesterday, investor’s worries continue to escalate. This week the markets have had warning from the OECD,
Gold Continues To Tarnish Read More »
Greece’s woes may continue to weigh on metal prices but, slight improvement in investor sentiments post G-8 has provided the “Euro” currency to gain 0.12 percent early morning and may continue in today’s session. The Dollar index has also weakened 0.11 percent on Friday after gaining consecutively for the last 13 days may continue to
Greece Woes Weigh On Gold And Silver Read More »
A Little Of This And A Little Of That From Financial Markets Around The Globe Commodities and equities took a breather and were seen recuperating from the recent slump though persistent worries over euro zone debt crisis and political uncertainty in Greece made investors remain guarded. Rebound in euro from a four month low levels
A Little Of This And A Little Of That Read More »
As the week starts, commodity markets continue to remain in despair and lingering in the broader weakness. Continuing political unrest in Greece, concerns over Spain’s banking sector and news of US bank giant JP Morgan’s $2bn losses reignited weak sentiments in all commodities. Increasing the possibility of a new election in Greece worsened the crisis
Negative Market Sentiment Grows Read More »
Today, the economic calendar is rather thin with only the euro zone industrial production data and final figure of Italian CPI inflation. Euro area Finance Ministers meet in Brussels and Spain (12/18 month T-Bills), Germany (Bubills) and Italy (BTPs) will tap the market. In the euro area, industrial production is forecast to have risen for
Economic Calendar Events And Bond Auctions May 14 2012 Read More »
The US trade deficit widened in March to $51.8 billion, the Commerce Department reported. The trade deficit was above the consensus forecast of Wall Street economists of a deficit of $50 billion. Economists had expected the deficit to snap back, believing that imports were held down in February due to the timing of the Chinese
A Look At The Global Markets Read More »
