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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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US Market Update: DJIA -29 S&P500 +3.2 NASDAQ -15
18 May 2012 at 10:54am
***Economic Data*** - (ES) Spain Mar Trade Balance: -#8364;3.3B v -#8364;3.8B prior - (BR) Brazil Mar Economic Activity M/M: -0.4% v +0.5%e; Y/Y: 0.9% v 2.4%e - (IN) India Forex Reserves w/e May11th: $291.8B v $293.2B prior...
EU Market Update: Spain's banking sector said to be calling on market regulat...
18 May 2012 at 4:54am
European equity indices opened lower, but have since moved off of the worst levels for the session. Spanish banks have rebounded from the prior session's losses, as shares of Bankia [BKIA.ES] have traded higher by over 20%, amid speculation that ......
Asian Market Update: Risk-aversion at a boil after Moody's cut of Spanish ban...
18 May 2012 at 1:29am
Asian equity markets are sliding ever lower in the final trading session of the week, giving little reverence to the G8 summit taking place this weekend in Camp David. Regional indices are off by over 2% just about across the board, SP500 futures have re...
DAILY FOREX AND DOW JONES RECOMMENDED LEVELS
18 May 2012 at 1:15am
Today#8217;s support: 1.2643 and 1.2600(main), where correction is possible. Break would give 1.2582, where correction also may be. Then follows 1.2540. Break of the latter would result in 1.2524. If a strong impulse, we would see 1.2508. ......
US Market Update: DJIA -50 S&P500 -4.0 NASDAQ -25
17 May 2012 at 10:38am
***Economic Data*** - (BR) Brazil May FGV Inflation IGP-10 M/M: 1.0% v 1.0%e - (BR) Brazil Mar Retail Sales M/M: 0.2% v 0.3%e; Y/Y: 12.5% v 11.7%e; Broad Retail Sales Y/Y: 10.2% v 7.9%e...
EU Market Update: 3-month Euribor rises for the first time in the post-LTRO e...
17 May 2012 at 4:52am
European equity markets opened the session slightly higher, but indices have since pared gains as most banks are in negative territory. Banks have traded with a negative tone, amid reports that JP Morgan's previously reported $2B trading loss may ......
Asian Market Update: Markets given a boost on US commitment to easing; Japan ...
17 May 2012 at 1:34am
Markets were less cautious today becoming accustomed to Greece's new instability, with a fresh election date and a caretaker government put in place confirmed today. Some of the positive sentiment can also be attributed to the US Fed's willingness ......
US Market Update: DJIA +23 S&P500 +3.8 NASDAQ +1.5
16 May 2012 at 11:04am
***Economic Data*** - (US) MBA Mortgage Applications w/e May 11th: 9.2% v 1.7% prior - (ZA) South Africa Mar Retail Sales M/M: 2.1% v 2.7%e; Y/Y: 6.8% v 6.6%e...
EU Market Update: Risk Aversion remains heightened in session; GBP slumps fol...
16 May 2012 at 5:00am
European equity indices opened the session broadly lower, as indices have been pressured by banks. Additionally, resource-related companies opened lower following cautious comments out of BHP about the outlook for commodity prices. Concerns about Greece h...
KBC: As contagion intensifies sell-off in Central Europe too
16 May 2012 at 4:53am
Broad sell-off intensified in Central Europe as markets got to know that Greeks to head back to polls after talks fail. While the biggest currency looser has been the Polish zloty as the EUR/PLN hit 4.40 level, on the fixed-income side it was the Hungaria...
Asian Market Update: Asian equities continued their decent with the focus rem...
16 May 2012 at 1:22am
Asian equities continued their slide for the 6th consecutive day as the global economic outlook becomes more clouded. Greece failed again for another day to form a new government and there is chatter that fresh elections will be held on June 17th. Germany...
US Market Update:DJIA -20 S&P500 +1.9 NASDAQ +4
15 May 2012 at 11:02am
***Economic Data*** - (PT) Portugal Q1 Labour Costs: +1.4% v -1.7% prior - (US) ICSC/GS weekly chain store sales w/e May 12th: -0.8% w/w; +4.5% y/y - (PL) Poland Apr CPI M/M: 0.6% v 0.5%e; Y/Y: 4.0% v 3.9%e...
European Market Update: Greec said to make €430M bond payment today; European...
15 May 2012 at 5:00am
European equity indices opened the session slightly higher, following the losses seen on Monday's session. Additionally, banks opened higher, but are currently trading in negative territory, as peripheral government bond yields have moved higher. ......
KBC: CEE currencies still under pressure on Greece
15 May 2012 at 3:45am
CEE currencies have continued to be under selling pressure on the Greek fear. The Polish zloty lost more than 1.5% and came above 4.3 EUR/PLN. On the other hand the most resilient currency continues to be the Czech koruna, losing #8216;jus#8217; ......
Asian Market Update: Markets continue to wallow in European concerns; China F...
15 May 2012 at 1:25am
Risk off ahead of EU GDP release later in the European session. After the close Moody's cut ratings on 26 Italian banks from 1-4 notches. Greece continues to struggle with putting together a unity Govt, leaders will meet again this evening. Greece ......
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INSIDE ASIA; A Change in the Asian Equation

31 Jan 2012 at 12:00am SINGAPORE -- Central bankers in Asia have yet another reason to hesitate now that the U.S. Federal Reserve looks likely to keep interest rates low for longer. Indonesia, Thailand, Australia and the Philippines have all cut interest rates at least once in the past three months to try to shore up economic growth, and many economists predict that...

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LETTER FROM EUROPE; The Move by Scotland to Go It Alone

17 Jan 2012 at 12:00am LONDON -- You are driving north. The highway skims by major cities -- Birmingham, Manchester -- until a barrier brings progress to a halt. A new international frontier straddles the road. There are passport checks, barbed wire revetments, currency exchange booths, customs controls, a gate reminiscent of Checkpoint Charlie in Cold War Berlin,...

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Afghanistan Widens Effort to Recoup Bank's Assets

4 Jan 2012 at 12:00am KABUL, Afghanistan -- The Afghan Central Bank said Tuesday that the government was stepping up efforts to recoup public money lost more than a year ago in the collapse of Kabul Bank, the nation's largest private financial institution. The development may hearten the Afghan government's international backers, like the United States, by showing that...

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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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