posted by Admin on Feb 9
The Euro’s dramatic slump slowed down last night, with some commentators fearing that the currency may be oversold, however data suggests that we could be in for a rocky period. The Chicago Mercantile Exchange showed that net short positions against the Euro rose from 39,500 contracts to 43,700. The Greek Prime Minister has denounced speculators.
Market News
Jean Claude Trichet is reportedly leaving a Sydney meeting of central bankers early to attend the European Council meeting on Thursday
Greek civil servants threatened to strike on Monday in response to the government cutbacks
Global stock markets have pulled back in reaction to the Greek fiscal crisis, with the Dow now trading below the 10,000 level for the first time since November 4th
Goldman Sachs have cut their view on Greek and Italian banks to Sell
In the UK, traders await the Bank of England’s Inflation report, scheduled for release on Wednesday.
Major Economic News
TIME MARKET DATA
1500 US Wholesale Inventories
posted by Admin on Jan 27
The US Dollar rallied against most of its major rivals ahead of today’s Interest rate decision. It is widely believed that rates will remain unchanged, but focus will be on the accompanying statement that may give clues to the economic outlook and future rate policy. The Dollar Index rose to trade at its best levels since September 2009.
Market News
US consumer confidence jumped in January
UK Q4 GDP came in at 0.1%, lower than analysts expectations (0.4%)
US Interest Rates are widely expected to remain unchanged, but traders will be looking to the statement to eye the potential winding down of the asset purchase programme
Ben Bernanke’s term as FED Chairman ends on Sunday, as the Senate continue to debate whether or not he should be granted a second term
Reports suggest that the Chinese Central Bank have made fresh moves to curb lending. China’s central bank asked several lenders to raise their reserve ratios according to reports, in an attempt to cool down the nation’s loan growth.
Major Economic News
TIME MARKET DATA
1915 US INTEREST RATE DECISION
posted by Admin on Dec 15
The dollar strengthened against the Euro and the Japanese Yen ahead of tomorrow’s Interest Rate decision, albeit it has fallen back in early trade. Relief that the Dubai and Greek debt situations have been clarified has in part added to confidence levels.
Market News
The Dubai loan has tempered fears over further sovereign debt defaults
Commenting on sovereign debt, Moody’s stated this morning that they feel that AAA rated countries should look to reduce debt as opposed to waiting for the economies to improve
Fitch commented this morning that China avoided recession, but risks remain in place
Major Economic News
TIME MARKET DATA
1330 Core PPI
