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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.

EU members among most open trading nations: study
23 May 2012 at 6:49pm
GENEVA (Reuters) - European Union member countries and their close partners in north and central Europe make up 12 of the 20 nations that are most open to international trade, according to a report issued on Wednesday. The Geneva-based World Economic Forum, in the latest update of its Enabling Trade Index, which is compiled every two years, put the United States at No. 23, down from 19 in 2010. Fellow trade giant China dropped from 48th to 56th place, and would-be powerhouse Russia was way down the rankings at 112th place. ...
Comments after EU leaders' summit
23 May 2012 at 6:49pm
BRUSSELS (Reuters) - European leaders discussed ways to revive their economies on Wednesday night, with growth and jobs on the agenda along with the situation in Greece. Following are comments by EU leaders and officials after the talks ended early on Thursday: EU LEADERS' STATEMENT ON GREECE: "We discussed the political and economic situation in Greece. We want Greece to remain in the euro area while respecting its commitments. "We are fully aware of the significant efforts already made by the Greek citizens. ...
Mexico's PRI eyes jump-start to reforms if victorious-aide
23 May 2012 at 6:20pm
MEXICO CITY (Reuters) - Mexico's main opposition faction hopes to secure support for energy, fiscal and labor market reforms by December if its candidate who is well ahead in the polls wins the presidency, a senior official in the Institutional Revolutionary Party (PRI) said on Wednesday. Enrique Pena Nieto of the PRI is strong favorite to win the July 1 presidential election, and he has pledged to overhaul the Mexican economy in pursuit of annual growth of around 6 percent. ...
Amnesty accuses U.N. council of "failed leadership"
23 May 2012 at 5:14pm
LONDON (Reuters) - Rights group Amnesty International lambasted the United Nations Security Council on Thursday as "tired, out of step and increasingly unfit for purpose". In its annual report, Amnesty said the failure of world powers to take stronger action on Syria was evidence that a sclerotic security council was hamstrung by vested interests, and also warned of abuses arising from Europe's economic crisis. Permanent security council members Russia, a key arms supplier to Syria, and China have shielded Syrian President Bashar al-Assad from tough sanctions. ...

TSX ends up 1 percent as gold miners rally
23 May 2012 at 4:14pm

TORONTO (Reuters) - Canada's main stock index advanced for the second straight day on Wednesday, rallying with gold and base-metal mining shares to dig itself out of an early hole as mounting fears about the euro zone economy and China rattled markets. The index surged nearly 300 points, or 2.6 percent, after nearly hitting a 2012 low at 11,260.04 early on Wednesday as worries about Greece's possible exit from the euro zone sparked a broad sell-off in equities. The rebound was led by the gold mining subgroup, which jumped more than 4. ...

A look at recent tech-industry earnings
23 May 2012 at 4:00pm
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:

CP Rail strike stops freight; government may step in
23 May 2012 at 3:52pm

TORONTO (Reuters) - Locomotive engineers and conductors at Canadian Pacific Railway walked off the job on Wednesday after contract talks broke down, shutting down freight operations on Canada's second-biggest railroad. As some customers began seeking alternatives to move autos, grain, coal and other goods, the Canadian government said it may introduce back-to-work legislation as early as next Monday if the strike drags on and harms the economy. ...

NetApp's shares tumble on weak 1Q forecasts
23 May 2012 at 3:32pm
Shares of NetApp Inc. tumbled in aftermarket trading Wednesday after the data storage management system maker forecast a disappointing fiscal first quarter, citing "increasing uncertainty" in the global economy.

Housing market recovery gains traction
23 May 2012 at 2:57pm

WASHINGTON (Reuters) - The U.S. spring home-selling season got off to a strong start in April, with rising sales and prices providing evidence that a housing market recovery was gaining some traction. The housing sector has been the Achilles' heel of the economy ever since the home-price bubble burst. Data this week, however, has painted a relatively upbeat picture for the market and underscored the economy's resilience. ...

HP Is Firing A Whole Lot of People
23 May 2012 at 2:48pm

Hewlett-Packard�announced Wednesday�that they will cut about 27,000 jobs by the end of 2014 in order to save up to $3.5 billion, so that's obviously not great news for the economy.

Fed near limit on scope to help jobs: Kocherlakota
23 May 2012 at 1:58pm
RAPID CITY, South Dakota (Reuters) - A rise in U.S. inflation over the past year suggests the Federal Reserve has little firepower left to boost employment, a top Fed official said on Wednesday. The U.S. unemployment rate, at 8.1 percent, is still high by historical standards, and many economists say employment is still well below the maximum level the economy can handle before inflationary pressures are likely to build. ...

S&P drops Tunisia rating to speculative
23 May 2012 at 1:27pm

Standard & Poor's dropped its rating for Tunisia by one notch on Wednesday to a speculative 'BB/B' level due to political uncertainty and weaker economic outlook.

New York pension fund assets hit $150 billion, near peak
23 May 2012 at 12:56pm
NEW YORK (Reuters) - New York state's pension fund assets rose 5.96 percent to $150.3 billion in the 2012 fiscal year, not far from the $154 billion peak set in 2007, the state's comptroller said on Wednesday. Despite the improvement, the return remained below the assumed rate of return of 7.5 percent. "Over the last three years, the fund has experienced strong gains during a period of economic instability," Comptroller Thomas DiNapoli said in a statement. In 2009, the value of the pension fund fell to $108.9 billion in the midst of what DiNapoli called the "global economic meltdown". ...
Official: ailing Bankia needs at least $11BN
23 May 2012 at 11:52am
Spain's economy minister says the government will pump at least ?9 billion ($11.3 billion) of public money into nationalized lender Bankia so it can meet new capital requirements.
Global stocks, euro sink on Greece exit jitters
23 May 2012 at 11:47am
NEW YORK (Reuters) - World stocks skidded and the euro fell to a 21-month low on Wednesday on worries about Greece's possible exit from the euro zone, which would deepen the region's debt crisis and hurt an already fragile global economic recovery. Each euro zone country will have to prepare a contingency plan for the eventuality of Greece leaving the bloc's currency, three euro zone sources told Reuters, citing an agreement reached by officials. ...
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Britons enjoying up to 25% off summer holidays in the sun compared to last ye...

16 May 2012 at 2:15am Someone travelling to Brazil will get �86 more than last year for every �500 that is converted to the local currency, the real - an increase of 24.5 per cent.

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CurrencyUK

Euro at risk for major drop
by alex
23 May 2012 at 1:35am
The Consumer price inflation(CPI) in the UK fell to 3.0% in April, down from 3.5% in the previous month. Although this was only marginally faster than the markets had anticipated (consensus 3.1%), this will come as relief to the BOE following last month?s rise in inflation.�It is also of symbolic importance that Sir Mervyn King [...]
CONSUMER PRICE INDEX
by alex
22 May 2012 at 1:58am
The Consumer Price Index �is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of GBP is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is [...]
Inflation Data key for GBP
by alex
22 May 2012 at 12:48am
After the weekend G8 summit, sentiment on the markets was a little more upbeat�yesterday. Markets took some comfort from news out of China that indicated it would fast�track approvals for investment in infrastructure projects to combat a slowdown in the�economy. This supports recent calls from the Chinese premier for policies to maintain�growth after a series [...]
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 [...]

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