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Currency Articles - January 25, 2011 19:03
Sterling Declines on Shocking Q4 GDP Figures
The UK economy has unexpectedly shrank dramatically in Q4 of 2010 as construction slumped. The December Snow did little to help things yet negative growth in the UK now signals that the UK could be set for a double dip recession. GDP fell 0.5% after rising 0.7% in the previous quarter, the office for National […]
US Dollar Gains on Positive News
News Traders will have benefited this afternoon from better than expected existing home sales in the US. Home sales have reached a 7 month high helped by record low interest rates. House purchases increased 12% to an annualised 5.28 million. The US markets have also benefited from a positive Phily Fed Index result and fairly […]
UK Inflation Problems Mount
Inflation in the UK is now becoming a major concern and the market expectation is that the BoE will need to raise interest rates to combat mounting consumer prices. Consumer prices rose to 3.7% vs an expected 3.4% in the UK and now stand at the highest level since April last year. The forecast is […]
Interest Rate Focus Key to Market Direction
Markets have opened the week consolidating on last week’s fundamentals, trading within and not exceeding recent technical ranges.
Portuguese Bond Auction Success Story
Portugal has managed to successfully survive their bond auctions today as demand for both 3yr and 10yr bonds sold at above the initial offered price. This is a positive sign for the Portuguese economy despite the fact that they will still need to raise €20 billion to refinance their debt for 2011. Looking ahead the […]
Global Stocks Decline on Debt Fears
The cost of insuring European sovereign debt against default has risen today to a record high as Portugal, Spain and Italy prepare to borrow $43 billion this year. The fallout of the concern caused by this is a marked decline in risk appetite and subsequent decline in global stock markets
Euro continues to suffer from significant selling pressures
The Euro has been the key loser today, losing 1.6 cents in trade today. Eurozone unemployment figures and GDP figures announced this morning have failed to support the flailing euro. the ECB Chancellor Jean Claude Trichet has said this afternoon that governments should not rely on the ECB for bail outs and that they should […]
Euro Suffers over Sovereign Debt Fears
The Euro has come under pressure in the last few days as fears mount over sovereign debt contagion. The Euro has fallen against most of the world’s most actively traded currencies with the key EUR/USD pair making new lows at 1.3170 and GBP/EUR testing the 1.19 mark towards the end of the UK session today.
US Recovery Gathers Momentum with Service Sector Expansion
The US Economic recovery seems to be gathering momentum moving into 2011 as service sector expansion reaches the fastest pace since May 2006.
Bernanke maintains $600Bn still required
The federal reserve are adamant , that despite recent economic indicators pointing towards a strengthening US economy, the stimulus package designed to keep the recovery underway is still necessary moving forward into 2011. Policy makers have indicated that recent signs of economic strength will not deter them from pumping more money into the financial system […]
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