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(Reuters) - Wanted for the Treasury Department: a new boss who can fix trillion-dollar-plus budget deficits, overhaul the tax system and spur a reluctant Europe into fixing its debt crisis. It's a tall order, especially when the new Treasury chief also must deal with a fractious Congress - and all for a salary lower than that paid to many junior Wall Street bankers. Economists, investors and veterans of past administrations are appraising potential successors to Treasury Secretary Timothy Geithner, either in a new Obama administration, if President Barack Obama is re-elected, or under Mitt Romney. Geithner has made it clear that he is leaving the post he has held since January 2009 even if Obama, a Democrat, beats Romney, the presumptive Republican presidential nominee, in the November ...

Dukascopy Fundamental Analysis EUR Germany and the European Commission welcomed Greek approval of the austerity steps demanded for a financial lifeline, suggesting euro finance chiefs will pull Greece back from the brink when they meet in two days. USD US customer confidence fell more than predicted in early February as improving employment data did not manage to offset worries about steady wages. GBP After a sharp decline on Friday, British FTSE 100 index rebounded on Monday, climbing 1%, helped by financial and resource shares as investors digested news about parliamentary approval of Greece austerity plan. CHF Swiss producer and import prices fell in January as appreciating Switzerland's currency and weaker demand from Euro Zone drove costs down, said Swiss Federal Statistics ...

U.S traders are growing extremely cautious overnight as the latest development in debt-choked Greece took the stage amid lack of first-tier economic data from the world's largest economy. Still, markets are waiting for Greece's politicians to pass spending cuts to receive a vital financial aid and for the Fed chairman to testify before a Senate Committee. Stock-index futures were barely changed ahead of the opening bill on Tuesday. Futures on the Dow Jones Industrial Average were nearly flat, adding 0.03 percent to 12772, while Standard & Poor's Futures gained no more than 0.1 percent to 1337.80. Positive data will likely lift up the equities today, otherwise, the rout will probably be resumed. Yesterday, U.S equities joined declines in eurioean shares, trimming a five-week rally for ...

(Reuters) - The new head of the IMF on Saturday called on global policymakers to pursue urgent action, including forcing European banks to bulk up their capital, to prevent a descent into a renewed world recession. "Developments this summer have indicated we are in a dangerous new phase," International Monetary Fund Managing Director Christine Lagarde said at a conference for top officials and leading economists from around the globe. "The stakes are clear; we risk seeing the fragile recovery derailed. So we must act now," she said. Two years after the end of the worst of the financial crisis, growth in the United States and Europe is sputtering as government debt burdens surge. Borrowing costs for European banks are rising as lenders balk at providing any but the shortest maturity ...

Weekly Economic and Financial Commentary U.S. Review Subpar Economic Growth Defines the Second Quarter The economy grew at a sluggish 1.3 percent in the second quarter after growing a mere 0.4 percent in the first quarter. Stagnation in personal consumption expenditures in the second quarter suggests that higher prices played a role in restraining consumer spending. Consumer confidence unexpectedly rose in July as the number of people expecting conditions to improve six months from now climbed on the month. Data on the housing market this week continued to reflect the weakness in the housing sector. Subpar Economic Growth Defines the Second Quarter This week we learned that the U.S. economy grew a sluggish 1.3 percent in the second quarter of the year after expanding only 0. ...

The Week Ahead Highlights Markets consolidate before The End of the World Greek problems get worse before they get better? The euro hinges on Spain Japan's economy still in a 'very severe' state The Loonie may see weakness ahead Key data and events to watch next week Markets consolidate before The End of the World This past week saw most major asset markets and currencies essentially consolidate around recent lows following the sell-off in the first half of May. Incoming data, however, continues to suggest increasing sluggishness in the major economies. In the US, housing data weakened further, both the Philadelphia and Empire manufacturing indexes declined, industrial production flattened, and the index of leading indicators dropped for the first time in 10 ...

The dollar was up versus the major currencies following disappointing non-farm payrolls numbers, highlighting the difficulties the Federal Reserve faces in reducing US unemployment. Economic News USD - Non-Farm Payrolls Sends Dollar Higher Disappointing employment data released on Friday sent the dollar higher versus the major currencies as the report from the Labor Department showed a significantly less than expected number of jobs were added to the US economy in the month of January. Traders were buying dollars as the less than forecasted job numbers did not support expectations of an improving US economy and employment picture. The Bureau of Labor Statistics reported US added 36K new jobs in the month of January. However, economists forecasted payrolls to come in at 138K. ...

Yesterday's most significant economic news was clearly the S&P's announcement that Japan's credit ratings will be downgraded from AA- to AA. The Japanese yen saw sharp falls against all the major currencies in response. In addition, disappointing U.S. economic data have weakened the dollar against the euro and the British pound. Economic News USD - Dollar Weakens Following Disappointing Economic Data The U.S. Dollar fell against most of its major currency rivals on Thursday's trading session. The dollar fell about 60 pips vs. the euro, and the EUR/USD pair reached a daily high of 1.3757. The greenback also dropped about 60 pips vs. the British. The dollar fell yesterday after a report showed that the number of Americans that filed for the first time for unemployment benefits rose by ...

Previous session overview The euro fell modestly against the dollar Monday, giving up earlier gains that had come in the wake of Ireland's formal request for aid as investors once again focused on other stressed euro-zone countries waiting in the wings. Ireland's formal request for aid propelled the common currency within striking distance of USD1.38, but worry whether the festering euro-zone sovereign debt crisis would engulf its next victim possibly Portugal or Spain sent investors soon fleeing the euro, sinking it to flirt with a drop below USD1.36. A call by Ireland's Green Party for new general elections in January added political uncertainty to the mix, also weighing on the common currency. The ICE Dollar Index, which tracks the U.S. currency against a trade-weighted basket ...