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Strong Germany GDP supports fragile eur
The euro held above a four-month low on Tuesday after German economic growth beat expectations, although gains could prove fleeting as the political stalemate in Greece stokes fears that Athens may renege on bailout pledges and exit the currency bloc.
European powerhouse Germany saw its economy expand in the first quarter at a robust clip of 0.5 percent, shaking off any fears of a recession. But a survey of German analyst and investor sentiment fell sharply in May, while GDP in France flatlined and Italy contracted sharply.
Overall, much of the euro zone was still struggling with a slowdown, putting pressure on the European Central Bank to loosen monetary policy to support the economy.
That is likely to see bears take a stronger grip of the euro. Also, concerns about slowing Chinese and ...
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Anti-austerity votes press euro lower
The euro fell heavily across the board on Monday after Greek and French elections cast doubt on politicians' commitment to austerity plans aimed at tackling the euro zone debt crisis.
Traders said the euro, which hit a three-month low against the dollar, its lowest in 3-1/2 years against the British pound and a 2-1/2 month trough versus the yen, was likely to suffer further losses in coming days.
In the biggest blow to the common currency, the failure of Greece's two main parties supporting the country's international bailout to secure a parliamentary majority threw into question the future of the program and potentially the country's membership of the euro.
In France, Socialist Francois Hollande, who has pledged to balance the budget but more slowly than his opponent, ousted centre- ...
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Euro tumbles as Greek vote threatens austerity
The euro fell heavily across the board on Monday after Greek and French elections cast doubt on politicians' commitment to austerity plans aimed at tackling the euro zone debt crisis.
Traders said losses, which saw the common currency hit a three-month low against the dollar, its lowest in 3-1/2 years against the British pound and a 2-1/2 month trough versus the yen, were likely to be extended in coming days.
In Greece the failure of the two main parties supporting the country's international bailout to secure a parliamentary majority threw into question the future of the program and potentially Greece's membership of the euro.
In France Socialist Francois Hollande, who has championed a longer time-frame for eliminating the deficit, ousted centre-right incumbent Nicolas Sarkozy in a ...
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The Weekly Bottom Line : 04/05/2012
The Weekly Bottom Line
HIGHLIGHTS OF THE WEEK
United States
- U.S. job creation may have weakened in the last few months, but the grounds for sustaining stronger employment growth are more fertile now than have been since the economic recovery began. Europe's labor market, by contrast, is likely to deteriorate further before it gets better.
- Europe's (nonfinancial) corporate sector is highly leveraged. As balance sheet adjustments are made, Europe risks further decreases in investment, higher layoffs, and lower economic growth. These effects are compounded by deleveraging in the public sector.
- U.S. corporations, by contrast, are more profitable and liquid than they have ever been. At some point some of these funds will be unleashed towards new investment, creating a positive ...
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Euro falls for third day, pressured by Europe data
(Reuters) - The euro fell for a third straight session against the dollar on Wednesday after soft European data fueled fears about a deep and broader slowdown in the region ahead of key elections in France and Greece.
The euro, however, briefly trimmed losses after a report showed the U.S. economy created fewer private-sector jobs than expected last month. It also came off its lows after speculation the European Central Bank could provide euro-zone banks with more liquidity in another long-term refinancing operation.
Wednesday's weaker euro zone data, not just in indebted smaller regional economies but in core nations too, raised speculation over possible policy signals at Thursday's ECB monetary policy meeting.
Italy's manufacturing sector shrank more than expected, with new orders ...
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Euro falls for 3rd day, hurt by Europe data
(Reuters) - The euro fell for a third straight session against the dollar on Wednesday after soft European data rekindled fears about a deep and broader slowdown in the region ahead of key elections in France and Greece.
The euro, however, briefly trimmed losses after a report showed the U.S. economy created fewer private-sector jobs than expected last month. It also came off its lows after speculation the European Central Bank could infuse euro-zone banks with more liquidity in another long-term refinancing operation.
Wednesday's weaker euro zone data, not just in indebted smaller regional economies but in core nations, too, raised speculation over possible policy signals at Thursday's ECB monetary policy meeting.
Italy's manufacturing sector shrank far more than expected, with new ...
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YouTradeFX Daily Market Analysis : 01/05/2012
Fundamental News
Today's highlight;
- Interest Rate Decision. (AUD, 5:30, GMT)
- RBA Rate Statement. (AUD, 5:30, GMT)
- ISM Manufacturing Index. (USD, 15:00, GMT)
- Unemployment Rate. (NZD, 23:45, GMT)
The EUR/USD is trading at 1.3233 having retraced Friday’s gains, at the close of the European session down 0.2%, but still trading above 1.32. European bond yields are generally stable and EUR volatility is trading near its lows at 8.4. News flow has generally been negative, with Spain entering a recession (GDP came in at ‐0.3% in Q1), S&P downgrading 11 banks and the March central bank data revealing a lack of foreign demand for Spanish debt.
As expected, S&P has downgraded 11 Spanish banks and put a further 6 on watch; while taking the opposite tact, Moody’s has announced that ...
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Weekly Economic and Financial Commentary : 27/04/2012
Weekly Economic and Financial Commentary
U.S. Review
First-Quarter GDP Growth Slows
The U.S. economy grew at a 2.2 percent annual rate in the first quarter, somewhat slower than the consensus had expected. Consumption remained the primary driver of growth as business spending slowed and the government sector continued to scale back spending.
In our U.S. review section this week, we discuss the GDP report in the context of the big miss in durables and consider what it means for business spending going forward. We also look at a very small change in the Fed statement this week that reflects an improving view on the troubled housing sector.
Business Spending Poised for a Slowdown?
Durable goods orders for March were ugly. The 4.2 percent drop was the largest decline since the U.S. ...
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Fed stays policy course, outlook a touch brighter
The Federal Reserve on Wednesday offered a modestly brighter assessment of the economy's prospects and few clues on the path of monetary policy, as it reiterated that interest rates likely will not rise until at least late 2014.
The central bank described the economy as expanding moderately, just as it did in March, and said the unemployment rate had declined but remains elevated. In March, it had said the jobless rate had declined "notably."
But its statement after a two-day meeting was slightly more upbeat than its March announcement.
Fed policymakers nodded to "some signs of improvement" in the housing sector and, while repeating that they expect moderate economic growth in coming quarters, said the recovery should then "pick up gradually."
"To support a stronger economic recovery ...
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