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Euro Weakness Looking To Hold
by admin
21 May 2012 at 12:33pm
On the Forex markets this morning the Euro around was struggling to regain a foothold beyond the $1.27 area against the Dollar. Staying virtually unchanged from its level on Friday, the dollar at 1.2692 euro (+ 0,08%). A low of 1.2642 dollars was hit this morning, against a peak at 1.2708. No significant movements to report against the ye Read more ...
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 ...

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Final Glance: Silver companies
21 May 2012 at 4:06pm

Shares of some top silver companies were up at the close of trading:Hecla Mining Co. rose $.25 or 6.5 percent, to $4.12.Pan American Silver Corp. rose $.47 or 2.9 percent, to $16.42.Silver Standard Resources ...

Final Glance: Gold companies
21 May 2012 at 4:06pm

Shares of some top gold companies were up at the close of trading:Barrick Gold Corp. rose $1.04 or 2.8 percent, to $38.16.Gold Fields rose $.51 or 4.2 percent, to $12.73.GoldCorp. rose $.73 or 2.1 percent, ...

Final Glance: Coal companies
21 May 2012 at 4:06pm

Shares of some top coal companies were up at the close of trading:Arch Coal rose $.52 or 7.2 percent, to $7.72.Consol Energy Inc. rose $1.08 or 3.7 percent, to $30.44.Peabody Energy rose $.85 or 3.6 percent, ...

Analysis: U.S. pipeline reversal may challenge refiners
21 May 2012 at 3:17pm

Reversal of the Seaway pipeline will bring U.S. Gulf Coast refiners the cheaper Midcontinent crude oil that they have wanted for the last 18 months -- maybe too much of it. Cheaper light, sweet crude from ...

Oil prices up on expectations for improving demand
21 May 2012 at 2:07pm

Oil prices rose as encouraging signs about the economy in the United States and China tempered concerns about Greece's debt crisis.Benchmark oil rose $1.09 to finish at $92.57 per barrel Monday in New ...

Mont. endorses coal lease for Bull Mountain Mine
21 May 2012 at 11:34am

The Montana Land Board is endorsing plans to lease more state coal to the operators of the Bull Mountain Mine south of Roundup.The proposal received an initial voice of support Monday from a land board ...

Sector Snap: Coal
21 May 2012 at 11:23am

Shares of U.S. coal companies rose Monday as industry analysts concluded that an extended investor sell-off in the beleaguered industry has gone on for too long.The industry has been hammered by the worsening ...

Midday Glance: Silver companies
21 May 2012 at 11:18am

Shares of some top silver companies are up at 1 p.m.:Hecla Mining Co. rose $.18 or 4.7 percent, to $4.05.Pan American Silver Corp. rose $.41 or 2.6 percent, to $16.36.Silver Standard Resources Inc. rose ...

Midday Glance: Gold companies
21 May 2012 at 11:18am

Shares of some top gold companies are up at 1 p.m.:Barrick Gold Corp. rose $.92 or 2.5 percent, to $38.04.Gold Fields rose $.41 or 3.4 percent, to $12.63.GoldCorp. rose $.57 or 1.6 percent, to $35.36.Newmont ...

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Currency Exchange Conversions News

50% of the balances in EEFC a/c to be converted into rupee: RBI - zeenews.ind...

16 May 2012 at 5:59pm Exchange Earners' Foreign Currency Account (EEFC) is an account maintained in ... The balance 50 percent shall be surrendered for conversion to rupee balances, it added. As per the earlier rules, an exporter was allowed to retain 100 percent of their ...

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Eurozone debt crisis: how a Greek exit from the euro might unfold - Daily Tel...

15 May 2012 at 11:56am A: Greek euros would be converted into a new currency, probably the drachma. Euro notes would be stamped while drachmas were being printed. After setting an initial conversion rate for the new drachma, at say 1:1 to the euro, the exchange rate would be ...

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RBI steps in to shore up rupee - The Hindu

10 May 2012 at 10:57am The balance had to be surrendered for conversion into rupee balances ... As such, the RBI felt, the EEFC facility ?is not intended to enable exchange earners to maintain assets in foreign currency.? In this context, the RBI pointed out that India ...

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Currency Updates

CurrencyUK

Public Sector Net Borrowing
by admin
21 May 2012 at 8:45am
The Net Borrowing released by the National Statistics captures an amount of new debt held by the U.K. governments (the financial deficit in the UK national accounts). Generally speaking, if the Net Borrowing is negative, it means the UK Accounts are surplus, and that should be positive for the GBP. While a deficit is [...]
Euro claws back some losses
by alex
21 May 2012 at 12:43am
At the G8 summit this weekend, Greece’s political and economic upheaval, together with�the growing instability in Spain and Italy, were high on the agenda as leaders sought to�calm the situation. World leaders backed keeping Greece in the euro-zone and vowed to�take all steps necessary to combat financial turmoil while revitalising a global economy�increasingly threatened by [...]
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, [...]

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