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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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US Market Update: Investors begin the week hopeful amid signs that growth wil...
21 May 2012 at 10:08am
- (PL) Poland Apr Sold Industrial Output M/M: -7.5% v -7.2%e; Y/Y: 2.9% v 2.8%e - (PL) Poland Apr Producer Prices M/M: 0.6% v 0.5%e; Y/Y: 4.3% v 4.3%e v 4.5% prior - (RU) Russia Apr Real Retail Sales M/M: 0.1% v 0.8%e; Y/Y: 6.4% v 7.0%e - (RU) ......
EU Market Update: Markets exhibit some calm following weekend G8 Summit
21 May 2012 at 4:55am
Equity indices opened the session mostly lower, but indices have since pared losses as most banks are now trading in positive territory. Additionally, most resource related companies are gaining, amid the move higher in commodity prices. In Asian trading,...
KBC: Polish macro-figures should confirm flat-rate scenario
21 May 2012 at 4:19am
CEE currencies calmed down on Friday and clearly outperformed other EMEA markets. Certain stabilisation on the EUR/USD par could have helped the zloty and the koruna. In the case of the koruna#8217;s - its nearly 1% gain move was helped by a huge ......
Asian Market Update: Equities and risky FX bounce after G8 commitment to Gree...
21 May 2012 at 4:18am
Asian equity markets, commodities, and risk-on FX opened the new week on a stronger note, boosted by G8 sentiment bent on keeping the eurozone together as well as some veiled signals of further accommodation out of China. In its statement, the G8 indicate...
DAILY FOREX AND DOW JONES RECOMMENDED LEVELS
21 May 2012 at 4:17am
Today#8217;s support: 1.2720, 1.2677, 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 ......
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...
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...
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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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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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Argentina: Black market grows with currency - Atlanta Journal Constitution

19 May 2012 at 9:20am

Atlanta Journal Constitution

Argentina: Black market grows with currency
Atlanta Journal Constitution
A sign shows the official government-set exchange rate of 4.47 Argentine pesos per 1 US dollar at a money exchange house in Buenos Aires, Argentina, Wednesday, May 16, 2012. The AFIP tax collection agency recent measure to control and approve every ...
Argentina Foreign Currency Bank Deposits Resume Their DeclineWall Street Journal
Argentine peso dives amid black market controlsReuters

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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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