The civil war in Libya is still far from over. Ras Lanuf, a coastal town between the big cities of Tripoli and Benghazi is one of the focal points of fighting at the moment. This port town sends a significant amount of Libya’s oil to the world. Currently the rebels are still in control of … “Ras Lanuf Battles Boost Oil Prices”
Author: admin_mm
Double Dip Recession in the UK? The King Warns
Mervyn King, governor of the BoE warned that Britain may face another financial crisis. King expressed his concerns over the banking system. He gave a rather rare interview to the Telegraph. Here are some quotes: “We’ve not yet solved the ‘too big to fail’ or, as I prefer to call it, the ‘too important to … “Double Dip Recession in the UK? The King Warns”
Euro Rises This Week as ECB May Increase Interest Rates
The euro advanced this week despite risk aversion sentiment, caused by the unrest in Middle East, as the European Central Bank signaled that an increase of the interest rates isn’t out of question. ECB President Jean-Claude Trichet said on the press-conference in Frankfurt after the central bank kept its benchmark rate unchanged at 1 percent that “increase of interest rates in the next meeting is possible” as the inflation accelerates. This statement caught analysts by surprise … “Euro Rises This Week as ECB May Increase Interest Rates”
Swiss Franc Pushed Up by Demand for Safety
The Swiss franc gained as the unrest in Middle East and the surging oil prices increased appeal of safer assets, including Switzerland’s currency. The rebels in Libya advanced towards Ras Lanuf, the oil port town about halfway to the capital of the country. Meanwhile, the government forces used the tear gas and the gunfire to stop the protesters in Tripoli. The opposition claimed that the conflict already has caused 6,000 deaths. April delivery for crude oil advanced as much as 3.2 … “Swiss Franc Pushed Up by Demand for Safety”
Dollar Falls Despite Good Employment Numbers
The positive reports about the employment in the US weren’t been able to boost the dollar strong enough to help it to appreciate against other currencies. The good US economic data slowed the rally of the euro, but didn’t manage to reverse the upward momentum of the European currency. The non-farm payrolls grew by 192,000 in February, much better number compared with the previous month’s reading of 63,000 (revised up from 36,000). The payrolls were in line … “Dollar Falls Despite Good Employment Numbers”
Sterling Drops on Falling House Price
The Great Britain pound extended its losses versus the US dollar and the euro today after the report showed that the house prices in Britain decline more than forecast last month. The House Price Index of the Halifax Bank of Scotland declined 0.9 percent in February, offsetting the January’s gain by 0.8 percent. Some economists, including Chris Huddleston, the trader at Investec Bank Plc, think that this downward move of the sterling was … “Sterling Drops on Falling House Price”
South Korean Won Rally with Other Asian Currencies
The Asian currencies, including the South Korean won, jumped today on the speculation that the policy makers won’t intervene to prevent gains. The Bloomberg-JPMorgan Asia Dollar Index rose 0.5 percent this week. The policy makers in Malaysia, Thailand and South Korea will make the decision about the interest rates next week. USD/KRW dropped from 1,116.00 to 1,113.95 as of 11:56 GMT today, following advance to 1,117.85. If you have any questions, comments … “South Korean Won Rally with Other Asian Currencies”
Saudi Day of Rage Pushes Oil Prices Higher
This Friday is expected to see a fresh wave of protests in Saudi Arabia. A “day of rage” is planned in the Al-Ihsaa province an area which is rich in oil and also populated by the Shiite minority. Also in Al-Hufuf, close to Bahrain, demonstrations against the Saudi monarchy are expected. These aren’t the first … “Saudi Day of Rage Pushes Oil Prices Higher”
Aussie Declines vs. Greenback & Euro
The Australian dollar fell against its US counterpart as the employment in the US improved. The currency also slipped versus the euro on the speculation that the European Central Bank will increase the interest rates before the Reserve Bank of Australia. ECB President Jean-Claude Trichet signaled that the central bank is ready to raise the interest rates. At the same time it doesn’t look like the RBA is ready to do the same. The International Monetary Fund … “Aussie Declines vs. Greenback & Euro”
Dollar Rises vs. Pound & Yen on Improving Labor Market
The US dollar strengthened versus the Great Britain pound and the Japanese yen as the macroeconomic reports showed that the US jobs market improved, causing optimism about the future of the US economy. The currency retreated against the euro. The non-farm employment change, according to the estimate of Automatic Data Processing Inc. released on March 2, posted the increase by 217,000 from January to February on a seasonally adjusted basis. The estimated change of employment from December to January was … “Dollar Rises vs. Pound & Yen on Improving Labor Market”