Friday 19 Mar 2010
Splits in Europe over an aid package for Greece are continuing to weigh on the Euro, as the markets misplaced optimism about some sort of bail-out package for Greece starts to ebb away. The reality is that any sort of bail-out for Greece, under present EU rules would probably be illegal, not withstanding the fact that political and legal considerations in Germany make any sort of support for any sort of cash bailout political suicide for Angela Merkel.
Friday 19 Mar 2010
Heightened concerns over the deal being thrashed out to rescue Greece sent the dollar sharply higher Thursday.
Thursday 18 Mar 2010
The Euro continues to be weighed down by uncertainty about whether there will be an EU bail-out of Greece, or whether the EU will back-stop any problems Greece has in meeting the austerity measures that it has promised to undertake to bring its budget back into balance. Rumours of a discount rate hike by the Federal Reserve have also been sweeping the market and this could well happen as early as this week.
Thursday 18 Mar 2010
Greece was back in focus again on Thursday amid press reports that the troubled country will turn to the International Monetary Fund for financial help.
Thursday 18 Mar 2010
Tuesday’s dovish statement by the FOMC put the US dollar under pressure yesterday with sterling being one of the main beneficiaries. The pound was also helped by better than expected employment data with the unemployment rate showing its biggest fall since November 1997 to 4.9%.
Thursday 18 Mar 2010
The dollar came under pressure as the Federal Reserve and Bank of Japan’s decision to maintain ultra low interest rates sparked interest in higher risk, higher yielding currencies.
Wednesday 17 Mar 2010
After last nights dovish statement by the FOMC the US dollar has continued to come under pressure with sterling being one of the main beneficiaries. The pound was also helped by better than expected employment data with the unemployment rate showing its biggest fall since November 1997 to 4.9%. Economists had been expecting a rate of 5.0%. The claimant count unemployment total also fell 23,300, confounding economists' expectations of an 8,000 rise.
Wednesday 17 Mar 2010
Japan has boosted its stimulus efforts in an attempt to invigorate its stagnating economy after growth figures for the last quarter of 2009 were revised downwards.
Wednesday 17 Mar 2010
The dollar fell back last night after the Federal Reserve signalled no change on interest policy for an “extended period”. The lone dissenter to the Fed’s dovish stance, Kansas Fed President Thomas Hoenig remained in a minority of one.
Wednesday 17 Mar 2010
The dollar fell to a five week low against the euro on Tuesday as the Federal Reserve maintained its tone on keeping interest rates close to zero for an extended period.
Tuesday 16 Mar 2010
The US dollar has slid back ahead of the FOMC in a couple of hours, while soon afterwards Monetary policy committee member Charles Bean is scheduled to talk and he is unlikely to talk sterling up too much.
Tuesday 16 Mar 2010
European countries have made yet more vague promises to help debt laden Greece if needed.
Tuesday 16 Mar 2010
The ZEW Indicator of Economic Sentiment for Germany declined for the sixth straight month in March.
Tuesday 16 Mar 2010
Consumer prices in the euro zone rose 0.3% from January, figures published by the European Union statistics office Eurostat showed on Tuesday.
Tuesday 16 Mar 2010
The US dollar reversed some of Friday's losses ahead of today’s FOMC meeting while sterling lost ground after monetary policy committee member, Kate Barker suggested that the UK could see a return to a quarter of negative growth, but she thought it unlikely that the UK would suffer a "double dip".
Tuesday 16 Mar 2010
The dollar rose against the euro on Monday supported by better than expected data on the US manufacturing sector.
Monday 15 Mar 2010
The US dollar reversed some of Friday's losses ahead of tomorrows FOMC meeting while sterling lost ground after monetary policy committee member, Kate Barker suggested that the UK could see a return to a quarter of negative growth, but she thought it unlikely that the UK would suffer a "double dip".
Monday 15 Mar 2010
European Union leaders look set to propose a 'framework' to help Greece overcome its debt crisis.
Monday 15 Mar 2010
Euro zone employment fell by 0.2% in the fourth quarter, new figures showed on Monday, better than expectations of a 0.5% drop.
Monday 15 Mar 2010
Euro zone finance ministers are today gathering for a two-day meeting in Brussels to discuss to seek a way of helping Greece overcome its debt crisis.
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