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 »
European markets traded higher today after Alcoa (AA), the country’s largest aluminium Producer, posted an unexpected first quarter profit after orders increased. Alcoa climbed 6.2 percent in pre-market New York trading as aluminium climbed 1 percent from a three-month low. Italy and Germany are among six countries in Europe selling debt today, while in the
Forex And Commodity Roundup Read More »
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 »
Citigroup economist Willem Buiter, warned that Spain may be forced to follow the lead of the Greeks as it is crippled by debt burden. “Spain is the key country about which I’m most worried,” Buiter said in a report in Bloomberg. “It’s really moved to the wrong side of the spectrum and is now at
Get Out Of The Way Greece, Its Spain's Turn In The Spotlight Read More »
Monday saw a variety of fundamental events that will shape the markets over coming weeks. Most notably Spain went on record with an admission that its deficit soared above target last year. At 8.5% of GDP, Madrid’s government was quite a distance from its target of 6%. These poor figures arguably prove its case for
Spain Misses Deficit Target Read More »
Edmund Burke, a British statesman and philosopher who lived from 1729-1797, once described Spain as “a whale stranded upon the coast of Europe”. That quote seems apt on the morning that desperately poor Spanish unemployment figures have been published. Spain already has the highest unemployment level in the EU, where youth unemployment is close to
A Whale Stranded Upon The Coast Of Europe Read More »
