Currency Articles - January 27, 2011 18:16
Pending Sales of Existing homes in the US has risen for the 3rd month in a row for the month of December. This shows yet again that the sector that initially triggered the US recession is now stabilising moving forward into 2011.
Policy maker Andrew Weale decided today to join Andrew Sentence in calling for a quarter point rise in interest rates as officials start to accept that risks to inflation have moved upwards. The BoE minutes stated that most members accept that recent developments have shown that inflation risks in the medium term have augmented.
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 […]
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 […]
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 […]
Markets have opened the week consolidating on last weekâ€™s fundamentals, trading within and not exceeding recent technical ranges.
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 â‚¬20 billion to refinance their debt for 2011. Looking ahead the […]
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