Posts Tagged ‘US Dollar’
Currency Articles - November 24, 2010 18:23
Ireland Faces Severe Austerity
Ireland’s government has said today that spending will be cut by 20% and taxes will rise over the next 4 years as the ongoing bailout talks approach a conclusion. Welfare will be cut by €2.8 bn and income tax will rise to €1.9 billion. The plan is to rapidly narrow the budget deficit reigning in […]
Stock Declines on Fears of War
The Dow is down 1.2% and the FTSE is down 1.75% in trade today. The markets continue to decline due to nervousness in the markets caused by the clash between North and South Korea earlier today and the continued fear of the debt drisis spreading throughout Europe.
Irish Bailout Speculation Drives Markets
Ireland has finally admitted today that it may ask for a bailout as ECB President Jean-Claude Trichet signaled debt ridden nations can’t rely on him to keep their financial systems afloat forever. Lehinan has said that he would welcome contingency capital from the EU’s rescue fund. There is however now a growing concern that banks […]
US Stocks Climb on CPI figures
The S&P has rebounded from its largest drop since August as slower than expected inflation has helped to quash critics arguments against the Fed’s recent stimulus. This is a form of a relief bounce that has been caused by the lack of news and data coming from Europe and China and the slower than expected […]
UK Exposed to Irish Bailout?
This afternoon we have heard that the UK has a 13% exposure to the Irish debt situation and has therefore been called upon to help in a bailout package that could total upto €100 billion Euro’s. Mervyn King has stated that the UK’s exposure is by no means trivial which is in most traders eyes […]
US Retail Sales Climbs 1.2% and ECB sees Aid Necessary for Irish Banks
Retail sales figures in the worlds largest economy rose 1.2% today after climbing 0.7% last month. Stock markets have surged on this good news up 0.45% on the close as investors gain confidence in the US markets. The rise in retail sales was led by car sales and non-store retailers, both indicate that consumer demand […]
BoE Inflation Report Unexpectedly Hawkish
The BoE inflation report led to a significant Sterling rally accross the board due Hawkish comments stating that consumer prices are around target in the medium term. The report went on to say that there was a high probability that the BoE Chancellor Mervyn King would have to write an inflation letter to the Chancellor […]
FX Market Update 27th October 2010
Sterling has continued to outperform most of its rivals in trading today, the notable exception is the USD, which now appears to be gaining some form of momentum for a reversal on cable and the EUR/USD pair. This can be attributed to today’s durable goods orders in the world’s largest economy jumping 3.3% in September […]
FX Market Update 19th October 2010
Today we have seen some respite for the USD. The Dollar has made gains against most currencies today as US Treasury Secretary, Timothy Geithner has said that the US will work to preserve confidence in a strong currency and will not work to devalue their currency.
FX Market Update 8th October 2010
Employers in the US have cut considerably more jobs than expected, cutting 95,000 jobs leaving the current unemployment rate in the US at 9.6%. Following this announcement the global stock markets have declined pulling back some of the gains gathered this week so far.
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