The Austrian member of the European Central Bank, Ewald Nowotny, has spoken out about the situation in Portugal, and says that he recommends it. Over the weekend, Nowotny said: From a purely economic point of view one could probably recommend it. The domestic political situation in Portugal has clearly worsened … the head of the government … “Ewald Nowotny Wants Portugal Bailout”
Author: admin_mm
QE3 – Chances of Very Slim
Over the weekend, FOMC member James Bullard joined other Federal Reserve officials by saying that when QE2 will end its course in June, no new scheme will be offered – no QE3. Bullard even said that QE2 might end sooner than expected: “If the economy is as strong as I think it is then I think … “QE3 – Chances of Very Slim”
USD/CAD Set to Fall as Carney Sees More Rises in
Mark Carney, the governor of the Bank of Canada, pointed out that the rise in commodity prices isn’t just part of the economic cycle, but a significant change that has a good basis. He sees the boom in commodity prices lasting for years. Carney also said: One challenge for Canada, a major producer of oil, … “USD/CAD Set to Fall as Carney Sees More Rises in”
The yen conundrum
Japan is predicted to see significant recovery flows. It that the driver behind the recent moves? Looking to previous major disaster in the land of the rising sun, it is quite hard to draw any conclusions at the moment. Guest post by FXPro Now, as back then, Japan is still the world’s largest creditor nation, … “The yen conundrum”
Week of EUR/USD Weakness
The euro declined versus the US dollar this week as the summit of the European Union leaders brought the disappointing results, making market participants question the ability of the EU to resolve the debt crisis. Still, against some currencies the euro managed to post gains. On Monday the euro retained its upward momentum from the previous week. The currency reversed its trend on the next day and started a decline. The EU summit began on Thursday, helping the euro to rise. … “Week of EUR/USD Weakness”
Stronger US Economy Brings Dollar Higher
The US strengthened on the speculation that the solid growth of the US economy will make the Federal Reserve to remove the stimulus and increase the interest rates. The US gross domestic product grew 3.1 percent in the last quarter of 2010. That’s compared to the previous estimate of 2.8 percent and the forecast of 3.0 percent. The claims for unemployment benefits decreased to 382,000 from 387,000 last week. Analysts suggested a decrease to 388,000. Federal Reserve Bank of Philadelphia President Charles … “Stronger US Economy Brings Dollar Higher”
Canadian Dollar Gains vs. Euro, Loses vs. Dollar
The Canadian dollar dropped versus its US counterpart as the economy of the US continued to show a robust economic growth. The loonie gained against the euro as the European Union summit hasn’t eased the concern about Europe’s debt problem. The US gross domestic product increased at the annual rate of 3.1 percent in the fourth quarter of the last year, according to the final estimate released by the Bureau of Economic Analysis. In the third quarter of 2010, the US economy expanded 2.6 … “Canadian Dollar Gains vs. Euro, Loses vs. Dollar”
Saif Al-Islam Wants to Leave Libya?
Saif Al-Islam Gaddafi, one of the sons of Libyan ruler Mummar Gaddafi reportedly wants to leave Libya and end the war. Gaddafi is part of big group of senior Libyan who are trying to negotiate a safe exit through several European channels, and countries such as Austria, Britain and France. Saif Al-Islam has been of … “Saif Al-Islam Wants to Leave Libya?”
Euro Slips as Bailout Funds are Cut
The euro dropped today from the highest level in four months after the European Union leaders decreased the startup capital for future bailouts. The decrease of the startup capital for a future aid fueled worries that the EU won’t be able to resolve its sovereign-debt problems. German Chancellor Angela Merkel expects that it’ll take years for the shared European currency to recover from the “sins of the past”. EUR/USD fell from 1.4171 to 1.4137 as of 13:36 … “Euro Slips as Bailout Funds are Cut”
Swiss Franc Depreciates as Global Economy Looks Good
The Swiss franc dropped today on the speculation that the global economic growth will offset the influence of the European sovereign-debt issues and the crisis in Japan. The two-daysummit of the European Union leaders is nearing to conclusion today and is expected to bring some relief to the troubles of the EU smaller economies. The resolution of the debt crisis will be much welcomed after Standard & Poorâs downgraded Portugal’s credit rating yesterday. USD/CHF advanced from 0.9081 to 0.9136 … “Swiss Franc Depreciates as Global Economy Looks Good”