Europe Is The Minimum Bid

Fundamental market overview EUR Yields of two-year Greek bonds exceeded 102% today due to panic in financial markets. European leaders consider voting for exclusion of Greece out of Eurozone. European Central Bank reduced minimal bid rate to 1.25%, regardless of 1.50% expectations. This became first significant decision of Mario Draghi as Head of ECB. USD Unemployment claims declined below 400K, and stood at 397K last week, Department of labor reported today. Unemployment claims had not fallen below 400K for five consecutive weeks. Non-Manufacturing PMI was at 52.9 points in October - slightly lower than 53.7 points forecast. GBP Services PMI indicator almost reached analyst expectations of 51.9 points, and was at 51.3 points in October, Markit reports. FTSE 100 has gained 66.31 ...

The Dow rose 102 points yesterday. Gold rose $21. Nothing to get excited about…so let’s move on. “Ireland is the only country that has been able to pull off any significant amount of austerity,” said Chris Hunter, an analyst with the Bonner Family Office here at its Irish headquarters. “And it seems to be working. The Irish are remarkably passive about it. We haven’t had any riots. Not even a lot of complaining. “I guess we realized it was a bit of a lark all along. I mean, building big houses all over the country. There was a time when property in Dublin was more expensive than property in London. We knew it couldn’t last. We knew we’d have to pay for it someday. So, here we are…and we all seem to accept the fact that it’s going to be difficult.” We drove up to Kilkenny to have lunch ...

The euro was indeed seen gaining a foothold against the USD following the European Central Bank's (ECB) latest announcement regarding interest rates, known as the Minimum Bid Rate. Stuttering mildly ahead of the decision, there was an atmosphere of EUR stability in the market prior to the statement by ECB President Jean-Claude Trichet. Economic News USD - USD Stable ahead of Friday's NFP Data The EUR/USD was seen moving somewhat bullish late yesterday as investors anticipate a return to risk aversion, but also optimism towards today's Non-Farm Payroll report. An uptick in US private sector employment Wednesday added to risk-taking sentiment by many investors, but fears of European debt contagion are overshadowing the rise. Should today's Non-Farm Payroll (NFP) data continue this trend ...

he euro rose today, rebounding from the earlier decline after the European Central Bank kept the key interest rates unchanged, but expanded its bond purchasing program. The ECB left its target Minimum Bid Rate at 1.50 percent as was expected by most analysts (though some anticipated a cut of the rates). The bank announced its version of quantitative easing: The Governing Council of the European Central Bank (ECB) has today decided to launch a new covered bond purchase programme (CBPP2). The programme will have the following modalities: purchases will be for an intended amount of €40 billion; purchases will have the capacity to be conducted in the primary and secondary markets and will be carried out by means of direct purchases; purchases will begin in November ...

Fundamental market overview EUR European Central Bank decided to leave minimal bid rate at 1.50% during a meeting today. This decision was in line with investor expectations; the current rate has been effective since July 13. Investor sentiment declined after Trichet announced that Euro-area is facing intensified downside risks. USD Unemployment claims slid to 401K previous week, surprising analysts who had expected 411K. Last week 6K more people applied for jobless benefits than the week before. Federal Reserve is urging 25 largest banks to control employee remuneration practices, which could potentially putting company at risk. JPY Nikkei 225 gained 139.04 points or 1.66%, closing at 8 552.02 points today. World Travel & Tourism Council reported today on significant improvements of ...

U.S Non-Farm Data release is set to dominate the trading between the Dollar and its major currency pairs this week. A number of other factors are also likely to impact the forex market today, such as the US Manufacturing PMI and minimum Bid Rate. Traders may find good opportunities to enter the market following these vital announcements. Economic News USD - Dollar Gains on Euro Losses The dollar saw a very volatile session during last week's trading. The dollar began last week's session with a falling trend against the euro and the British pound. The EUR/USD pair reached as high as the 1.3680 level and the GBP/USD reached as high as the 1.5715 level. Yet eventually both pairs reversed trends, the EUR/USD is now trading near the 1.3320 level, and the GBP/USD near the 1.5500 level. The ...

The euro weakened today, falling for the second day against the dollar and the yen, after the European Central Bank maintained its key interest rate unchanged yesterday. The ECB left its target minimum bid rate at 1.5 percent. Central bank’s President Jean-Claude Trichet said on the press conference after the monetary policy decision: Looking ahead, we expect the euro area economy to grow moderately, subject to particularly high uncertainty and intensified downside risks. Trichet stated that Eurozone gross domestic product is expected to grow “very moderately in the second half of this year” and the ECB revised its projections for GDP growth downwardly. EUR/USD slipped from 1.3808 to 1.3810 today as of 11:42 GMT after rising to 1.3939 earlier. EUR/JPY went down from 107.58 to 107. ...

The euro was indeed seen dropping against the USD following the European Central Bank's (ECB) latest announcement regarding interest rates, known as the Minimum Bid Rate. Stuttering mildly ahead of the decision, there was an atmosphere of EUR avoidance in the market even prior to the statement by ECB President Jean-Claude Trichet. Economic News CAD - Canadian Dollar Falls as Investors Seek Safety The Canadian dollar (CAD) was seen moving lightly bearish late Thursday as investors fled the higher yielding assets from speculation on a market downturn following recent releases on interest rates. A weaker-than-forecast uptick in US private sector employment Wednesday added to risk sensitivity for many investors, leading some to await today's news before entering more strongly. The Bank of ...

(Reuters) - Brent crude oil rose above $111 per barrel on Tuesday as expectations of a new stimulus for the U.S. economy outweighed fears of recession and worries over the euro zone debt crisis. A surprise move by the Swiss National Bank (SNB) to set a minimum exchange rate target of 1.20 francs to the euro also helped support oil as it boosted the European currency. Gold fell sharply after the SNB move, after hitting a new record above $1,900 an ounce. Brent futures for October climbed $1.39 to a high of $111.47 a barrel before easing back to around $111.20 by 9:55 a.m. EDT. U.S. crude traded around $84.65 a barrel, down from Friday's close at $86.45. The U.S. crude contract had no settlement on Monday due to the Labor Day holiday. "Prices are being supported by hopes of another ...