Posts Tagged ‘USD’
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.
Euro dips on concern that economic problems will spread
The Euro has started to lose ground against the USD and the GBP amidst concerns that Ireland’s financial bailout has not assured markets that this crisis will not spread. First it was Greece at €110 billion, now Ireland at €90 billion. These are vast sums of money and are being banded around in the press […]
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 […]
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 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 15th October 2010
US monetary policy is proving to be the key focus in the markets at the moment. Most Traders are paying particular attention to Wednesday’s release of the Fed’s latest beige book. This will provide the basis for discussion at the November FOMC meeting when markets expect fresh quantitative easing measures.
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