Rating agency Fitch became aware of a court case in which the judge denied the bank of its will to continue getting the mortgage after getting the house. If the appeal won’t reverse this ruling, it could be a precedent that could hurt the Spanish banking system. Tracy Alloway reports: In a Friday statement, the … “Fitch Warns About Spanish Mortgage Ruling”
Author: admin_mm
Egyptian Army Against Mubarak
The Egyptian army seems to side with the protesters. They don’t seem to have any will to break the demonstrations, and they are held aloft the masses. The demonstration in Tahrir square in Cairo came out about alongside US-made tanks. The army just made sure no weapons were brought into the square. Also in Alexandria, … “Egyptian Army Against Mubarak”
US Dollar Declined This Week on Poor Macroeconomic Reports
This week was rather bad for the US currency even as the US economy demonstrated a moderate growth, which nevertheless wasn’t as good as the economists anticipated. The economic reports were for the most part worse than the forecasts promised, even though the data showed growth. One example of such reports was the report about the gross domestic product. Even as GDP expanded 3.2 percent in the fourth quarter of 2010, compared to the 2.6 percent growth … “US Dollar Declined This Week on Poor Macroeconomic Reports”
When Everybody’s Short, Who’s Left to Sell?
Speculators increased their bets against the dollar to the highest level since the beginning of November. Remember what happened then? Are the tables about to turn in favor of the dollar and against the Euro? The weekly report by the CFTC showed that the net short positions against the greenback jumped from 15.06 to 18.2 … “When Everybody’s Short, Who’s Left to Sell?”
US Dollar Rises vs. Euro, Falls vs. Yen on GDP Report
The US dollar strengthened versus the euro as the GDP report showed that pace of economic growth in the US increased. The currency dropped against the Japanese yen as the growth was slower than the analysts predicted. The US gross domestic product expanded at an annual rate of 3.2 percent in the fourth quarter of the last year, compared to the 2.6 percent growth in the third quarter. Even as the growth accelerated, it hasn’t met up the economists’ expectations of the 3.5 percent … “US Dollar Rises vs. Euro, Falls vs. Yen on GDP Report”
Tension in Egypt Spurs Demand for Safety, Helps Swiss Franc
The Swiss franc rallied today as the political unrest in Egypt increased demand for safety as it threatens oil supply and may cause of wave of riots in Africa. Egyptians went on demonstrations with demands to end the 30-year rule of President Hosni Mubarak. Mubarak imposed a curfew in an attempt to prevent clashes between police and the protesters. Police detained senior leaders of the Muslim Brotherhood and were firing tear gas as demonstrators were throwing rocks at police trucks. … “Tension in Egypt Spurs Demand for Safety, Helps Swiss Franc”
Britain’s Pound Goes Down as Consumer Confidence Slumps
The Great Britain pound were attempting to advance on the previous two days, but the potential rally was cut short as the consumer UK confidence experienced a significant decline. The GfK NOP Consumer Confidence Index has dropped eight points this month to -29, the lowest figure since March 2009, when it was -30. Nick Moon, MD of GfK NOP Social Research, commented on this reading: Januaryâs eight point … “Britain’s Pound Goes Down as Consumer Confidence Slumps”
Malaysian Ringgit Decline with Asian Stocks
The Malaysian ringgit dropped today after the Asian stocks declined as the Standard & Poor’s downgraded Japan’s credit rating and commodities went down. The MSCI Asia Pacific Index dropped 0.7 percent to 137.30 as of 17:17 in Tokyo. Last week the index posted its first weekly drop in a year and a half on the concerns that China would continue its attempts to stem the economic growth. USD/MYR went up from 3.0540 to 3.0555 as of 09:52 … “Malaysian Ringgit Decline with Asian Stocks”
AUD Down as Flood Levy May Cause Pause for Rates Hikes
The Australian dollar took a beating today on the speculation that the interest rates may be put on hold for an extended period as the government proposed a levy to support the economy, hurt by the catastrophic floods. Rains in Queensland state of Australia continue for almost two months, harming crops, mines, infrastructure, damaging economy and taking human lives. Australia’s Prime Minister Julia Gillard said that the flooding will cost the nation about A$5.6 billion ($5.6 … “AUD Down as Flood Levy May Cause Pause for Rates Hikes”
Canadian Dollar Falls with Crude Oil Prices After Rally
The Canadian dollar declined today versus its US counterpart as crude oil prices dropped and the reports from the US showed some poor macroeconomic data after it rallied with stronger stocks and rising copper prices. March delivery for crude oil, the main Canadian export dropped 1.9 percent to $85.68 per barrel on the New York Mercantile Exchange. That was the lowest level in eight weeks. The bad reports about … “Canadian Dollar Falls with Crude Oil Prices After Rally”