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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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Economy News Headlines - Yahoo! News
Get the latest economy news headlines from Yahoo! News. Find breaking economy news, including analysis and opinion on top economy stories, photos and more.

Economists more upbeat about job growth, housing
21 May 2012 at 7:19pm
A new survey shows economists are growing slightly more optimistic about recovery in the job and housing markets but expect other pillars of the economy to remain weak.
U.S. Senate approves tougher Iran sanctions
21 May 2012 at 5:57pm
WASHINGTON (Reuters) - The U.S. Senate unanimously approved on Monday a package of new economic sanctions on Iran's oil sector just days ahead of a meeting in Baghdad between major world powers and Tehran. The West suspects Iran is working to build a nuclear bomb and the sanctions are meant to strip Tehran of revenue by shutting down financial deals with Iran's powerful state oil and tanker enterprises. Iran has said its nuclear program is for civilian purposes. ...

Lowe's 1Q profit up, but cuts 2012 profit outlook
21 May 2012 at 3:50pm

Lowe's Cos.' first-quarter profit climbed 14 percent as warmer weather helped boost sales earlier in the quarter. But the world's second-biggest home-improvement company lowered its full-year earnings forecast on Monday, saying it's still cautious because of the weak housing market and other economic conditions.

RI economic agency meeting with Schilling
21 May 2012 at 3:47pm
Former Red Sox pitcher Curt Schilling and Rhode Island's economic development agency met Monday to discuss the finances of his troubled video game company.
Wheat rises again, other grains settle mixed
21 May 2012 at 3:10pm
Wheat futures rose again Monday as traders remained worried about hot weather. Energy and copper prices rose on positive economic signals from the U.S. and China.
A look at recent tech-industry earnings
21 May 2012 at 2:50pm
Here is a summary of recent earnings and reports for selected technology companies and what they reveal about the state of spending and the overall economy:

Comic Grillo shakes up Italian politics with shock win
21 May 2012 at 2:40pm

ROME (Reuters) - Italy's political parties had hoped Beppe Grillo would fade away, but the comic who rails against their corruption and ineptitude and says Italy should default on its debt and quit the euro is going from strength to strength. In local elections on Monday, Grillo's Five-Star Movement shook Italian politics by winning control of the northern city of Parma and several smaller towns, capitalizing on voter discontent with economic stagnation and austerity. ...

Benchmark oil tops $92 a barrel
21 May 2012 at 2:33pm
Oil prices rose Monday as encouraging signs about the economy in the United States and China tempered concerns about Greece's debt crisis. Here's how energy contracts traded.

Oil rises on China calls for growth, Iran
21 May 2012 at 2:24pm

NEW YORK (Reuters) - Oil prices rose on Monday after China's premier called for more efforts to stimulate growth and as investors cautiously awaited results of Iran's second round of revived talks with major powers over Tehran's nuclear program. Chinese Premier Wen Jiabao's call for "giving more priority to maintaining growth" signaled Beijing's willingness to take action after several recent economic indicators suggested that the economy could continue to slow. ...

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.
RI economic agency to meet on Schilling's company
21 May 2012 at 12:53pm
The board of Rhode Island's economic development agency will meet Monday night to discuss the finances of former Red Sox pitcher Curt Schilling's troubled video gaming company, whose failure would likely force the state to step in and pay its debts as part of a $75 million loan guarantee.

Putin tightens grip with new government
21 May 2012 at 12:38pm

MOSCOW (Reuters) - Russian President Vladimir Putin unveiled a government dominated by loyalists on Monday, tightening his grip on the economy and national security after protests and limiting Prime Minister Dmitry Medvedev's ability to pursue market reforms. Putin, 59, opted for continuity by retaining his ally Igor Shuvalov as first deputy prime minister in charge of economic policy, while Igor Sechin will remain his energy chief in a role outside the government. ...

News Summary: Germany nixes eurobond rescue
21 May 2012 at 12:16pm
NO EUROBOND RESCUE: Germany repeated its opposition to French proposals for jointly-issued bonds from the 17-nation eurozone as a way to create economic growth and ease the region's financial crisis.
Splinter party rejoins Greek conservatives before vote
21 May 2012 at 11:59am
ATHENS (Reuters) - Greece's conservative New Democracy party said on Monday that a small splinter party led by former foreign minister Dora Bakoyannis had agreed to rejoin it for the June 17 election, crucial for the country's future in the euro zone. Political deadlock after the inconclusive May 6 election and the inability of warring parties to forge a coalition government have forced Greece to hold a second election as the threat of economic collapse grows. Bakoyannis's small liberal Democratic Alliance party won 2. ...
A look at economic developments around the globe
21 May 2012 at 11:29am
A look at economic developments and activity in major stock markets around the world Monday:
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Money Market Stresses Ease After Group of Eight's Discussions - BusinessWeek

21 May 2012 at 4:57pm

Money Market Stresses Ease After Group of Eight's Discussions
BusinessWeek
By Daniel Kruger on May 21, 2012 Money-market indicators signaled the ability of banks to borrow and lend short term funds increased after leaders of the Group of Eight met and urged Greece stay in the Euro and China said it would focus on boosting ...

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Dollar and precious metals at a glance

21 May 2012 at 2:32pm Key currency exchange rates Monday, compared with late Friday in New York:

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Poland Sold 11 Billion Euros for Zloty on Market Last Year - Bloomberg

21 May 2012 at 9:39am

Poland Sold 11 Billion Euros for Zloty on Market Last Year
Bloomberg
Poland's government sold the equivalent of 11 billion euros ($14 billion) in transactions on the currency market last year, as the zloty tumbled the most in four years. The Finance Ministry started ?regularly? converting funds from the European Union ...

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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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