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Economy Getting WorseTitle:
Global Markets Weekahead: Euro zone policy action becoming critical
(Reuters) - The now familiar European cycle of crisis followed by political action, temporary respite, then another crisis enters that crucial second stage next week when leaders of the 27-member European Union seek solutions in Brussels.
Investors will also be concerned with how hard the crisis is hitting the euro economy, with flash estimates of business activity due from the latest purchasing managers' surveys, and with the view from Bank of Japan policymakers meeting in Tokyo.
The potential for a Greek euro exit and the deteriorating health of the Spanish banking system have fueled a growing sense among investors that the crisis in the 17-member currency bloc is nearing new heights.
"This whole European situation has been managed via crisis," said Didier Saint-Georges, a member of ...
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Main Focus to Remain On Spain and Greece As Well As U.K. Fundamentals
Worries are expected to continue this week in the European continent amid the fiscal and economic woes in Spain in addition to the political upheavals in Greece.
The situation seems to be getting worse which may provoke the need for further measures by European officials to prevent the escalation of the European debt crisis.
Fears soared last week after the downgrade of Spain`s Banco Santander, the country`s largest lender, and BBVA by Moody`s amid the government`s efforts to reform the ailing banking sector, and the rise in borrowing cost at a bond selling auction.
On the other hand, fundamentals showed that the euro area`s fourth largest economy recorded 0.3% contraction in the first quarter, following the 0.3% contraction in the last quarter of 2011; therefore, the country is ...
Title:
Global Markets Weekahead: Euro zone policy action becoming critical
The now familiar European cycle of crisis followed by political action, temporary respite, then another crisis enters that crucial second stage next week when leaders of the 27-member European Union seek solutions in Brussels.
Investors will also be concerned with how hard the crisis is hitting the euro economy, with flash estimates of business activity due from the latest purchasing managers' surveys, and with the view from Bank of Japan policymakers meeting in Tokyo.
The potential for a Greek euro exit and the deteriorating health of the Spanish banking system have fueled a growing sense among investors that the crisis in the 17-member currency bloc is nearing new heights.
"This whole European situation has been managed via crisis," said Didier Saint-Georges, a member of the ...
Title:
Wall Street down for 4th day of five, breaks support
Stocks fell on Monday as investors dealt with the one-two punch of worsening political upheaval in the euro zone and the possibility that China's economy may be softening more than previously thought.
The S&P 500 finished lower for the fourth day of five to close at its lowest level since February, adding fuel to worries of a coming market correction.
Economically sensitive shares, including banks and energy companies, paced the decline. Exxon Mobil Corp (XOM.N) lost 1.2 percent to $82.12. The NYSEArca oil index .XOI fell 1.8 percent.
State television in Greece reported the president of the fiscally beleaguered country will continue talks on forming a coalition government, although Socialist leader Evangelos Venizelos said on Monday he was not optimistic that a government could be ...
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Another mixed week for the superpower…
Ahead of the U.S elections we watch another mixed week be drown regarding the current economical conjuncture of the world`s leading economy with a worsened and widened trade deficit along with better labor and confidence data, yet the recovery is on a slow gradual pace and accordingly a full efficient healing is still far from being witnessed.
In fact throughout the week we watched mixed sentiments getting spread as on one hand the superpower`s trade gap widened more than forecasted on higher imports and on the other hand the country`s jobless claims cheerfully and unexpectedly declined faintly to confirm once again that the labor conditions are improving gradually but remain far from a full recovery and that the gap between imports and exports continue on being immense.
Actually the U.S ...
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Volatility Extends in Markets after the European Commission Fresh Forecasts
The European Commission supported volatility to extend in the market amid the current deteriorating sentiment in the market, where the Commission revised growth forecast lower for the euro-area region adding concerns the current austerity-linked solution is weighing sharply on growth, forcing more pressures on lawmakers to find another way around to hammer that debt crisis as well as boosting growth, but without adopting further austerity.
The critical economic situation in Europe is worsening and getting more complicated, where lawmakers cannot find a way to fight the debt crisis without affecting growth aspects, where the sharp austerity adopted across Europe has brought a technical recession confirmed in most of the nations in the euro zone, fueling the debt crisis to expand further ...
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Dukascopy Morning Forex Overview : 11/05/2012
Fundamental Analysis
EUR
"The overall manufacturing trend remains weak."
- Pierre-Olivier Beffy, chief economist at Exane BNP Paribas
French industrial production fell in March, said the national statistics office Insee on Thursday. Output contracted 0.9 per cent from February, when it gained 0.2 per cent.
USD
"It’s hard to get nervous that imports are rising."
- Dean Maki, chief U.S. economist at Barclays Capital Inc.
The number of Americans claiming for unemployment benefits fell to 367,000 in the week ended May 5 from 368,000 the week before, said the Department of Labor on Thursday.
GBP
"Our forecast is that they are done with QE, but you can’t rule out more later this year."
- Ross Walker, an economist at Royal Bank of Scotland Group Plc
The Bank of England kept rates on hold ...
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BoE keeps monetary stance on hold, adopting wait and see strategy
Bank of England (BoE) policy makers opted to hold their monetary stance this month to bolster growth while keeping an eye lid on inflation.
The bank left both interest rate and APF at 0.50% and 325 billion pounds as now the BoE is watching carefully the latest developments internally and worldwide to have the optimal deal with the current difficult situation.
Internally, fundamentals released recently raised concerns that the economic situation is getting worse.
Meanwhile, the British economy is experiencing a technical recession after recording 0.2% contraction in the first quarter, following the 0.3% contraction recorded in the last quarter of 2011 and may face the threat of facing more deepening recession.
U.K. PMI manufacturing slowed down to 50.5, the lowest since December, ...
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Investors fret after Greek, French votes
Greek and French election results rattled global investors on Monday by undermining confidence in the region's plans to cut spending and tackle its debt crisis, sending the euro to a three-month low.
European shares also initially traded lower, with Greek stocks down 6.4 percent .ATG, but reaction was muted with the UK market closed for a holiday. Wall Street stocks were expected to reflect the weaker tone when they being trading .N.
Investors sold bonds of other weaker euro zone member states after the two pro-bailout parties in Greece failed to win a parliamentary majority, rekindling fears over the country's future in the single currency.
"The Greek election outcome is the ultimate Greek tragedy. Not having a cohesive government means the IMF will not release further funds. Without ...
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