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Euro Down Slightly After Weekend On Spain Worry
by admin
1 May 2012 at 4:41am
Yesterday the euro was down slightly compared to the U.S. dollar, 1.321 to 1.325 dollars compared to last Friday, particularly affected by the disturbing news growing on Spain. The Spanish economy has again contracted by 0.3% in real terms in the first quarter 2012 compared to the last of 2011, according to the National Statistics Institu Read more ...
Euro Stability Still A Concern On Forex Markets
by admin
24 Apr 2012 at 8:13am
Parity between the euro / dollar is now almost perfectly balanced on the currency market: at around 13:00 hours, the euro was trading at 1.3156 (- 0.01%). Slightly increased towards the yen to 106.9. Nothing to report in the forex market on the state of the euro / Swiss franc, which is stable at 1.2021. ‘We expect fu Read more ...
Euro Mixed Against All Other Majors
by admin
18 Apr 2012 at 7:53am
The single currency was losing again today, dropping below $1.31 (EUR/USD) on Wednesday afternoon, amid persistent doubts about the sovereign status of Europe. At this time, the euro yield is 0.42% against the greenback at 1.3073 dollars per euro. The IMF reviewed yesterday, downgrading its growth forecast for Spain in 2012, which shows a Read more ...
Fed Keeps Rates Low ? Euro Seems Without Trend
by admin
14 Mar 2012 at 6:40am
The single European currency remained without a major trend against the U.S. dollar in the wake of a highly anticipated meeting of the Monetary Policy Committee of the Fed, whose tone lately has been quite positive for the Dollar. The Euro dropped yesterday afternoon from 0.04% to 0 Read more ...
Bernanke comments causes sell off
by Tom
1 Mar 2012 at 4:55am
Market sentiment received a bit of a boost yesterday when the results of the ECB?s long-awaited second long-term liquidity operation (LTRO) showed strong demand for the cash from European banks. The ECB lent 800 banks ?529.5 billion, somewhat above the ?450 billion that the market had been anticipating and the ?489 billion lent to 523 fi Read more ...
Euro firm however downside risks remain
by Tom
28 Feb 2012 at 8:36am
Today the euro remains firm versus the dollar and sterling, trading in relatively tight ranges despite the announcement from ratings agency Standard & Poor?s that it is cutting Greece?s long term credit trading to selective default. Such a move was already expected and indeed factored in, though yesterday?s comments from EU Commission Read more ...
Euro upside following Greek deal
by Tom
22 Feb 2012 at 9:34am
Having retreated from near two-week highs as optimism over the long-awaited Greek bailout deal faded to be replaced by underlying concerns over growth and implementation risks, the euro has traded in a relatively tight range versus the dollar over the past 24 hours. Parliaments in three countries (Germany, the Netherlands and Finland) must now a Read more ...
Euro upside following Greek Deal
by Tom
21 Feb 2012 at 9:20am
The euro gained some ground in early morning trade briefly breaking through key resistance after eurozone finance ministers finally sealed the details of a second ?130 billion bailout package for Greece. There was also agreement on the details of Greek?s deal with private sector investors, who are now expected to take a haircut in excess of Read more ...
Euro sold as Greek Deal lingers
by Tom
16 Feb 2012 at 4:35am
The euro started yesterday with a firmer tone on the news that China would continue investing in euro debt and pledges from the Greek opposition Conservative Party to commit to tough austerity measures. This was before the latest twist in the on-going Greek debt saga saw renewed pressure on the single currency, which has fallen back to trade at Read more ...
UK on watch for credit downgrade
by Tom
14 Feb 2012 at 4:09am
The Bank of Japan surprised markets overnight, as it decided to expand its asset buying programme by Y10 trillion to Y65 trillion (the entire amount will be used for the purchase of long term government bonds) and set a price stability goal of 1%. In doing so it is abandoning its long used ?understanding of price stability? phrase. The conse Read more ...

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MF Global Clients Bash Fat Fees, Seek Quick Wind-Down
18 May 2012 at 5:33am
The legal team winding down MF Global's bankruptcy estate, led by former FBI director Louis Freeh, estimates the fees charged by the team and other professionals have reached nearly $25 million since the bankruptcy was filed in October.
Ex-ECB Head Unveils Bold Plan To Save The Euro
18 May 2012 at 5:33am
Europe could strengthen its monetary union by giving European politicians the power to declare a sovereign state bankrupt and take over its fiscal policy, the former head of the European Central Bank said on Thursday in unveiling a bold proposal to salvage the euro.
JPMorgan CEO Gets Crisis Marks But War Isn't Over
18 May 2012 at 5:33am
Shooting from the hip may have got Jamie Dimon into deep trouble -- shooting straight may help to get him out of it.
The iPhone5 Is Almost Here, And It’s Going To Be Big
18 May 2012 at 5:23am
A multitude of rumors about Apple's latest smartphone have been swirling around the web. Here is a low down of what it is expected to look like.
Wall Street's Top 3 Operational Concerns: Regulation, Cost Pressure, IT Talent
18 May 2012 at 2:25am
Roundtable of Wall Street c-level executives say that increasing cost pressures, a heavy regulatory burden and managing IT talent are three areas that leaders are focusing on as the industry pulls itself out of the financial crisis.
Big Insights Lacking at "Best Ideas" Hedge-Fund Event
17 May 2012 at 7:07am
A highly anticipated hedge-fund conference where managers are invited to share their "best ideas" with investors fell flat on that score.
Secure Your Docs, But the User Should Always Come First
17 May 2012 at 6:13am
Users have no patience for clunky document management systems, so it was refreshing to discover that Rosenblatt Securities and Blackstone Group are using Watchdox, a user-friendly way to secure documents.
Lone Pine Capital Taps SS&C's Form PF Solution
17 May 2012 at 4:27am
Hedge fund chooses SS&C's web-enabled Form PF application for compliance with a new rule that requires investment advisers and private funds to provide information to the Financial Stability Oversight Council for moniitoring systemic risk.
Nasdaq Data Center Launches Express Connect for Co-Location Clients
17 May 2012 at 4:26am
The network solution will offer customers low latency connections from a single liquidity hub.
JPMorgan Trade on Regulators' Radar in April
16 May 2012 at 5:57am
Regulators first raised concerns in April about trading positions that led to a $2 billion-plus loss at JPMorgan Chase.
JPMorgan Investment Unit Played by Different High-Risk Rules
16 May 2012 at 5:57am
The JPMorgan Chase unit that lost more than $2 billion through a failed hedging strategy had looser risk controls than the rest of the bank.
TradeKing and Zecco Merge To Challenge “Big 5” Brokerages
15 May 2012 at 7:19am
The merger of the two competing brokerages, which are leaders in the social media space, makes sense for several reasons.
Financial Firms Can't Ignore iPad and Android Tablet Apps
15 May 2012 at 6:10am
Brokerage firms are developing apps for the iPad and other Android-alternative tablets, but they should take advantage of the larger screen display and compute power to offer more than what's on a smartphone.
Anxious EU Ministers Edge Towards Bank Rules Deal
15 May 2012 at 3:40am
European finance ministers edged closer on Tuesday to breaking a deadlock on tougher capital standards for banks, a reform designed to prevent another financial crisis but which has exposed deep rifts between Britain and the rest of the EU.
Romney Campaign Defends JPMorgan Loss As Market Risk
15 May 2012 at 3:40am
U.S. Republican presidential candidate Mitt Romney's campaign said on Tuesday JPMorgan Chase & Co's huge trading losses were an unfortunate part of a free market economy.
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US dollar turnover of Baku Interbank Currency Exchange soared 6.74 fold - Aze...

18 May 2012 at 6:27am

Azerbaijan Business Center

US dollar turnover of Baku Interbank Currency Exchange soared 6.74 fold
Azerbaijan Business Center
The spot-turnover at the Bank Interbank Currency Exchange (BBVB) soared 6.74 fold during the 20th week of 2012 after a decline of 27.4% a week earlier. BBVB reports that for 14-18 May 2012 turnover of the BBVB Bourse E-System of Trades (BEST) on spot ...

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Exclusive: Myanmar's central bank aims for weaker currency - Reuters

18 May 2012 at 5:02am

Exclusive: Myanmar's central bank aims for weaker currency
Reuters
Asked if he would like to bring down the currency's value, Nay Aye said "yes", noting the central bank was developing a fund for carrying out open-market operations and stabilizing the currency. "In the near future there will be a massive inflow of ...

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'Armageddon' Scenarios Vanish From Currency Market? - CNBC.com

18 May 2012 at 12:58am

CNBC.com

'Armageddon' Scenarios Vanish From Currency Market?
CNBC.com
But volatility in foreign exchange markets is likely to stay high with the Japanese currency, the yen "The kind of Armageddon scenario where the euro won't exist has disappeared from the market. People are talking about Greece leaving but I don't think ...

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Moody?s downgrades Spanish banks
by alex
18 May 2012 at 1:41am
The potential ?Grexit? is killing the markets as they run for safety in the last day of the week. Uncertainty is all over, and regardless of the new elections being held in June 17, investors still don?t want to risk it. Not only Greece is in trouble. 16 Spanish banks have been downgraded by Moody?s last [...]
Lower inflation expectations not good for GBP
by alex
17 May 2012 at 12:53am
The UK inflation report released yesterday showed that the MPC now expect two-year�inflation to be lower despite raising the near term projection. Their central inflation�projection for two years ahead is 1.6%, about 0.2% lower than in February. The growth�forecasts were also lowered in the near term reflecting a poor Q1 2012 and on-going�concerns regarding the [...]
Focus on Eurozone Politics continues
by alex
16 May 2012 at 1:25am
Greece continues to capture the headlines with agreement expected today on formation of�an interim Government and likely announcement of new elections as soon as 10 June.�Meanwhile the first meeting between Merkel and Hollande resulted in a joint statement�pledging commitment from both to keep Greece in the euro with introduction of ?growth�measures? subject to adherence to [...]
Currencies do not like political uncertainty
by alex
15 May 2012 at 1:27am
Political risk events continue to dominate in Europe. The political deadlock continues in Greece although a Greek exit was not discussed at the Euro group meeting held yesterday, nonetheless, suggestions that Greece will leave the euro gained momentum leading to the EU Commission issuing a statement hoping that Greece would remain part of the euro [...]
What if Greece Exits?
by admin
14 May 2012 at 12:16am
From The Economist Online May 11th 2012, 0:22 by A.P. See original article As the Economist argues in our briefing�this week, a Greek exit from the euro zone would not just be chaotic for Greece itself but would also invite questions about the status of Portugal, Ireland and others. So what would policymakers have to [...]
BoE decision today
by alex
10 May 2012 at 1:08am
An event laden day lies ahead, kick started with the overnight releases of NZ Business PMI, Japanese Current Account, Trade Balance, China Trade Balance and Australian Employment data.�Markets continue to be steered by the European political and sovereign debt crises and in the wake of this bond yield?s continue to remain elevated, notably Spain where [...]
Political Pressure on EUR
by alex
9 May 2012 at 1:12am
EUR/USD broke below the 1.30 level yesterday as the Greek political crisis rolls on and in this context we expect the EUR to remain under pressure; with�French presidential election winner Hollande awaiting inauguration, his pledges to increase state spending and renegotiate the ECB?s independence is unlikely to instil confidence in the market and the longer [...]
Euro weakens further
by alex
8 May 2012 at 1:05am
There are 3 main reasons why we�begin�this short week with a weaker Euro; 1.Data suggests that the Eurozone could be heading for its third quarter of negative growth. 2.A change of government in France, one that is likely to be less Berlin friendly than its predecessor. 3.The Greek political parties who supported ongoing austerity�measures lost their majority rule, [...]
Focus on US jobs
by alex
4 May 2012 at 12:52am
As expected, ECB policy makers kept their benchmark interest rate at the record low of�1%. In the associated press conference, ECB President, Mario Draghi, said they still expect a gradual recovery this year but downside risks prevail and the outlook has�become ?more uncertain?. Spanish and French government debt sold well at auctions yesterday BUT�Spain?s yield on [...]
Confidence�in GBP and the UK
by alex
3 May 2012 at 12:38am
Overnight, Bank of England Governor King noted that rates would need to stay low for some time while suggesting that it would eventually return to normal levels. UK saw the release of PMI Construction which came in slightly above expectations at 55.8 while Credit lending and mortgage approvals were a welcome relief from disappointing data yesterday. [...]

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