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| ECB Praises Greek Plans, Not Bailout
March 4, 2010 at 11:53 AM
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| | European Central Bank policy makers are expected to begin unwinding some liquidity measures, launched during the financial crisis, at their monthly policy meeting on Thursday, economists said. ECB President Jean-Claude Trichet is expected to stick firmly to his view that there won't be an ECB bai... | | |
| BOE MPC expected to hold fire on monetary policy
March 4, 2010 at 11:50 AM
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| | The Bank of England's £200bn quantitative easing programme is unlikely to be extended today when its Monetary Policy Committee (MPC) discloses the result of its monthly meeting. The Governor, Mervyn King, told the Commons Treasury Select Committee last week that the MPC was ready to inject more... | | |
| Greece's Financial Aid Plea Snubbed by Merkel in 'Historic Moment' for EU
March 4, 2010 at 11:44 AM
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| | Greece's pledge to ramp up planned budget-deficit cuts by half failed to yield commitments of financial assistance from Germany, Europe's biggest economy, to help solve its financial crisis. German Chancellor Angela Merkel said a meeting tomorrow with Greek Prime Minister George Papandreou won't... | | |
| EURUSD, GBPUSD & USDJPY Daily Technical Analysis
March 4, 2010 at 10:44 AM
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| | Levels for March 4th 2010 - Methodologies including Fibonacci, Calculated Pivots, Market Profile and Volume data. The key data described in the sheets are the PowerZones and the PowerZones confluence matrix. | | |
| BOJ's Noda Says 'No Guarantee' Yields Will Stay Low
March 4, 2010 at 10:36 AM
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| | Bank of Japan board member Tadao Noda said there's no assurance that long-term interest rates will remain low unless the government develops a plan to contain the world's largest public debt. "Maintaining fiscal discipline, in other words showing a road map and implementing it decisively in a tim... | | |
| BOJ Noda: Must avoid BOJ appearing to monetise debt
March 4, 2010 at 10:34 AM
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| | Bank of Japan policy board member Tadao Noda said on Thursday that the central bank's buying of government bonds, if mistaken for debt monetisation, would push up long-term interest rates. "The BOJ will continue to buy long-term government bonds to provide long-term funds while avoiding its buyin... | | |
| Weak Pound: So What?
March 4, 2010 at 10:27 AM
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| | Can it really only be a couple of years since plucky little sterling was number three on the list of international reserve favorites? Well, yes. It was a distant third, perhaps, far behind the dollar and euro, but, still, ahead of the yen. More recently economic weakness, born of particular natio... | | |
| China Commerce Minister Cites Wen, Says Yuan To Remain Stable
March 4, 2010 at 10:23 AM
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| | Chinese Minister of Commerce Chen Deming said Wednesday that the yuan exchange rate will remain "basically stable", citing comments from Premier Wen Jiabao. Chen didn't specify which comments of Wen's comments he was referring to but the Chinese premier most recently stated that the government's ... | | |
| USD/JPY Forex Market Moving News by Acetrader
March 4, 2010 at 10:16 AM
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| | USD/JPY - 88.45..http://www.acetraderfx.com The fact that dlr's morning fixing is lower than the previous day's in last several days is a bearish signal - today's fixing is 88.52 vs 88.68 (y'day). Despite recent massive issue of toushin, dlr has been sold after Tokyo market is closed n today in no... | | |
| Recent Recommended Trades by AceTrader
March 4, 2010 at 10:13 AM
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| | ********************************************* Update Time: 03 Mar 2010 11:37GMT INTRA-DAY EUR/USD OUTLOOK - 1.3667 Present anticipated rise after finding renewed buying at 1.3614 suggests upmove fm y'day's 9-1/2 month low of 1.3433 to retrace recent decline has resumed n further gain twd... | | |
| Geithner Adviser Sachs to Resign This Year as Emergency Programs Wind Down
March 4, 2010 at 9:20 AM
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| | Lee Sachs, a counselor to Treasury Secretary Timothy F. Geithner, plans to step down this year as the government's emergency programs give way to exit strategies amid the economic recovery. As an adviser on domestic finance, Sachs helped the Obama administration conduct stress tests on the bigge... | | |
| Bank of England to decide on interest rates
March 4, 2010 at 8:15 AM
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| | The Bank of England will announce later whether it will raise interest rates, but is expected to keep the cost of borrowing at a record low of 0.5%. The Bank is also expected to say it will not pump any more money into the economy under its quantitative easing (QE) programme, for now at least. ... | | |
| Australia's January Trade Deficit Narrows on Iron Ore
March 4, 2010 at 7:56 AM
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| | Australia's trade deficit narrowed more than economists expected in January as exports of iron ore rose and imports of fuel declined. The shortfall shrank to A$1.18 billion ($1.07 billion) from a revised A$2.17 billion in December, the Bureau of Statistics said in Sydney today. The median estima... | | |
| Japan Capital Spending Falls 18.5%, 11th Decline
March 4, 2010 at 7:44 AM
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| | Japanese businesses cut spending for an 11th quarter, signaling a revival in exports remains insufficient to prompt investment that would spur the recovery. Capital spending excluding software fell 18.5 percent in the three months ended Dec. 31 from a year earlier, after dropping a record 25.7 p... | | |
| Fed Beige Book Triggers Late Session Equity Market Break
March 4, 2010 at 7:38 AM
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| | U.S. stock indices finished lower with the exception of the March E-mini S&P after failing to hold on to earlier gains. The break late in the session coincided with the release of Fed's Beige book. At first trader reaction to the report was non-committal as it offered no new bullish economic news.... | | |
| U.S. Dollar Index Changes Trend to Down
March 4, 2010 at 7:37 AM
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| | On Wednesday, the U.S. Dollar lost ground to every major currency except the New Zealand Dollar. Early selling pressure triggered a change in trend when this index took out the last main top at 80.14. In the process a new lower top was formed at 81.34. The charts are indicating a break to 77.86 is... | | |
| Japan Q4 corporate capex down 17.3 pct yr/yr
March 4, 2010 at 7:25 AM
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| | Japanese companies cut spending on plant and equipment in October-December by 17.3 pct from the same period in the previous year, Ministry of Finance data showed on Thursday. The pace of decline narrowed from a 24.8 percent annual fall in the July-September period last year. Following is a table... | | |
| ECB to unveil next small steps in stimulus withdrawal
March 4, 2010 at 5:37 AM
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| | The European Central Bank is set to hold interest rates at a record low level of 1.0 percent and detail the next steps in its gradual withdrawal from emergency lending measures at its monthly meeting on Thursday. With Greece's debt troubles unsettled and concerns growing about the fragility of Eu... | | |
| Bank set to keep interest rate low
March 4, 2010 at 5:35 AM
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| | Rate-setters will mark a year of rock-bottom interest rates and efforts to boost the money supply by maintaining their support for a fragile UK recovery. The Bank of England's Monetary Policy Committee (MPC) is set to keep its quantitative easing (QE) programme unchanged at £200 billion at its la... | | |
| US economic growth modest, says Fed's Beige Book
March 4, 2010 at 5:20 AM
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| The US economy has continued to grow this year, but only at a "modest" pace, according to the Federal Reserve's influential Beige Book. Despite a "slight improvement" in consumer spending, growth was hampered by "severe snowstorms" in many parts of the country, it found. The book also reporte... | | |
| Stocks Rally on Better ADP, ISM Services Growth
March 4, 2010 at 5:16 AM
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| | U.S. equity markets surged to the upside after the release of a better than expected ADP jobs report and a much improved ISM Services Index. The ADP figure came out at the low end of the range which gave investors a reason to believe that Friday's Non-Farm Payroll figure may also show an improvement... | | |
| Euro Rises after Greece Makes Move in Right Direction
March 4, 2010 at 5:15 AM
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| | The EUR USD rose this morning to its highest level since February 17th as shorts covered positions after Greece announced additional budget cuts and tax increases in an attempt to shore up its budget and gain favors from the European Union. | | |
| Daily Forex Report: The Danger of Distractions
March 4, 2010 at 4:33 AM
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| | Daily Forex Report for 3/3/10 Click here to view Jay's Daily Forex Report for 3/3 where he covers 13 live markets and talks about the dangers of distractions. http://www.forextv.com/Forex/Video/Video.jsp?channel=41,276,1241,249,1314,1418,1423,1424,1445&movieid=62489 www.trading-u.com ... | | |
| US Dollar at Risk of Further Declines On One-Sided Positioning
March 4, 2010 at 4:22 AM
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| | Forex market positioning shows traders very heavily long the US Dollar against the Euro, warning of short-term pullbacks in the context of a broader rally. Indeed, it has become increasingly difficult to bet on further US dollar strength given months of strong gains. | | |
| ForexLive US wrap-up: Euro tries to forge a bottom
March 4, 2010 at 4:19 AM
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| | * ADP employment report: US lost 20,000 private sector jobs; as expected * ISM non-manufacturing index 53.0 in Feb from 50.5 in Jan; strong * No aid for Greece at Friday meeting between Papandreou and Merkel * Juncker: Eurogroup stands ready to take to take determined and coordinated ... | | |
| Daily Forex Report with Jay Norris
March 4, 2010 at 3:26 AM
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| | Daily Forex Report for 3/2/10 Click here to view Jay's Daily Forex Report for 3/2 where he covers 13 live markets. http://www.forextv.com/Forex/Video/Video.jsp?channel=41&movieid=62473 www.trading-u.com DISCLAIMER: Forex (off-exchange foreign currency futures and options or FX) tradin... | | |
| Fed Says Economy Improved at 'Modest' Pace in Regions
March 4, 2010 at 3:11 AM
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| | The U.S. economy improved in nine of the Federal Reserve's 12 regions in January and February while being hampered by snowstorms in the eastern U.S., the central bank said today. "In most cases the increases were modest," the Fed said in its Beige Book business survey, published two weeks before ... | | |
| Technical Summary: EURUSD Bulls In Control
March 4, 2010 at 1:23 AM
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| | Technical Summary: EURUSD Bulls In Control EURUSD's hammer triggered recovery has extended powering through the 1.3681/91 level and targeting the 1.3787 level where a break will put the pair on the path to further upside gains towards the 1.3838 level. | | |
| Canada's Dollar Climbs for Fourth Day as Oil, Equities Rise
March 4, 2010 at 1:22 AM
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| | Canada's currency advanced for a fourth day, the longest consecutive gains in two months, as higher crude oil and gold burnished the appeal of currencies tied to growth. The currency touched a more than one-month high after the central bank dropped a phrase that slow inflation is a threat in the ... | | |
| Won Leads Gain in Asian Currencies on Recovery, Greece Plan
March 4, 2010 at 1:18 AM
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| | March 3 (Bloomberg) -- Asian currencies rose, led by South Korea's won, on optimism a regional economic recovery is gathering pace and Greece's efforts to repair its finances will revive demand for higher-yielding assets. A government report today showed South Korea's industrial production increa... | | |
| World Banking Sector Still In Big Trouble
March 4, 2010 at 12:11 AM
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| | VIDEO: Banks Must Discriminate — For those of you wondering why banks still aren't lending this is a must see video. Despite all the recent talk about massive bank profits it would appear there are still serious concerns over banks beating their cost of capital. | | |
| Dollar Falls vs Euro on Greece Budget Plan
March 3, 2010 at 11:35 PM
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| | The dollar fell against the euro Wednesday after Greece pledged $6.5 billion in pay cuts and tax increases to reduce its deficit, easing worries about the country's debt crisis. The euro gained roughly half a U.S. cent after Greece's cabinet approved a sweeping new austerity program on Wednesday... | | |
| Plosser Says Removing Fed Regulatory Powers Would Be 'Unwise'
March 3, 2010 at 11:15 PM
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| | Federal Reserve Bank of Philadelphia President Charles Plosser said stripping the central bank of regulatory powers would be "unwise" and make another financial crisis more likely. "The proposals for regulatory reshuffling, at best, miss the point of what is required for meaningful reform and, a... | | |
| Chart of the Day - 3/03/2010 – GOLD
March 3, 2010 at 11:02 PM
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| Price action on spot gold, a daily chart of which is shown, has made a significant bullish move in breaking out above the key 1130 price region, establishing a new 6-week high. This occurs within the context of a long-term uptrend. Despite a false breakdown of the longstanding uptrend support line... | | |
| Consumer Agency Within Fed Seen as Victory for Banking Industry
March 3, 2010 at 10:42 PM
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| | For consumer advocates, housing a new agency to protect Americans from financial-product abuse within the Federal Reserve would be a defeat after lobbying for an independent body. For banks, it would represent a victory. Barney Frank, Chairman of the House Financial Services Committee, called a ... | | |
| ABC News on the Chopping Block
March 3, 2010 at 10:26 PM
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| | Despite earlier talks of a recovery the U.S. job market continues to suffer. The latest and somewhat unlikely victim is Disney's ABC TV Group which will shed nearly 5% of it's workforce. ... | | |
| Stocks Trading Flat Ahead of ADP Jobs Report
March 3, 2010 at 10:25 PM
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| | Besides news regarding the debt crisis in Europe, futures and Forex traders will be focusing on today's Challenger jobs report and the ADP private sector jobs report for direction. Traders expect the ADP report to show a loss of 20,000 jobs. An amount greater than 20,000 should support the Dollar as... | | |
| Euro Firms after Greece Announces More Budget Cuts
March 3, 2010 at 10:24 PM
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| | The Euro is firming overnight after Greece announced more budget cuts in an effort to sway the European Union into approving its bailout package. The new plan includes higher taxes and pay cuts for government officials. Greece has been making an effort to shore up its fiscal deficit in order to... | | |
| Fed's Rosengren: Low Rates Right Now Totally Appropriate
March 3, 2010 at 10:24 PM
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| | Boston Federal Reserve President Eric Rosengren Wednesday said that although it is "totally" appropriate that interest rates are low right now and the risk of asset bubbles means monetary and supervisory policy should be used together in preventing future threats to the financial system. In rema... | | |
| US Services sectors show best growth in two years
March 3, 2010 at 10:18 PM
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| | The services sectors of the U.S. economy grew at the fastest pace in two years in February, according to a survey of companies released Wednesday by the Institute for Supply Management. The ISM non-manufacturing index rose to 53% in February from 50.5% in January, the best since December 2007. ... | | |
| Euro Advances as Greece Announces Additional Measures to Curb Deficit...
March 3, 2010 at 10:17 PM
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| | The EUR/USD bounced back during the early European trade and crossed above the 20-Day SMA (1.3632) to reach a high of 1.3665, and the pair is likely to maintain the narrow range carried over from the previous week going into the North American as the European Central Bank is scheduled to announce... | | |
| Fed's Rosengren defends near-zero interest rates
March 3, 2010 at 9:59 PM
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| | Interest rates at current very low levels are "totally appropriate" given the slow recovery from the very severe recession, said Eric Rosengren, the president of the Boston Federal Reserve Bank on Wednesday. Rosengren suggested he did not think today's low rates would fuel another asset bubble. He... | | |
| Rosengren: Don't blame Fed for housing crisis
March 3, 2010 at 9:45 PM
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| | Critics who claim the Federal Reserve caused the U.S. housing bubble by keeping interest rates artificially low are wrong, Boston Fed chief Eric Rosengren says. "Was (the bubble) mainly due to the Fed keeping rates too low for too long after the 2001 recession?" Rosengren asked in remarks set for... | | |
| Stiglitz Says Euro Nations Need 'New Framework' to Aid Countries in Crises
March 3, 2010 at 9:44 PM
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| | Nobel laureate Joseph Stiglitz said the euro-area needs a "new framework" to assist countries when they suffer from crises such as Greece's current budget turmoil. "I hope that what comes out of this is a resolution, a new framework, for addressing these kinds of problems," Stiglitz said in an i... | | |
| ADP Says U.S. Companies Cut 20,000 Jobs in February
March 3, 2010 at 9:05 PM
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| | U.S. companies in February cut the fewest jobs in two years, according to data from a private report based on payrolls. The 20,000 decline followed a revised 60,000 drop the prior month, data from ADP Employer Services showed today. ADP figures overstated the Labor Department's estimate of priva... | | |
| A World United Against "To Big To Fail"?
March 3, 2010 at 9:05 PM
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| | In a recent article out of Bloomberg, Dallas Fed President Richard Fisher called for an international pact to break up banks whose collapse would threaten the financial system, a position that goes beyond other Fed officials. | | |
| Oanda Now Supported On Currensee
March 3, 2010 at 8:51 PM
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| | Oanda, probably the biggest forex broker, is now supported on Currensee. Oanda traders can now share their trades and use Currensee's social network for free. Hopefully all forex brokers will adopt a transparent policy with social sites such as Currensee. | | |
| Dollar briefly rises vs yen after US ADP report
March 3, 2010 at 8:50 PM
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| | NEW YORK, Mar 3 (Reuters) - The dollar briefly gained versus the yen on Wednesday after a report showed the U.S. private-sector shed 20,000 jobs in February, in line with expectations. | | |
| Fed's Fisher Calls for Accord to Break Up 'Too Big to Fail' Finance Firms
March 3, 2010 at 8:47 PM
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| | Federal Reserve Bank of Dallas President Richard Fisher called for an international pact to break up banks whose collapse would threaten the financial system, a position that goes beyond other Fed officials. "The disagreeable but sound thing to do" for firms regarded as "too big to fail" would b... | | |
| Interview with Todd Crossland – Interbank FX's Chairman and President
March 3, 2010 at 8:26 PM
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| | Interbank FX, is a major US broker, and it is lately growing very nicely outside of the US as well. What I find in particularly appealing in this broker is its emphasis on transparency and social elements in Forex – such as the performance page which shows Interbank FX's real time performance... | | |
| Private sector sheds 20,000 jobs in Feb., ADP says
March 3, 2010 at 8:25 PM
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| | Private-sector firms in the U.S. eliminated 20,000 jobs in February, the 25th decline in a row, according to the ADP employment report released Wednesday. It was the fewest jobs lost since 22,000 jobs were added in January 2008. In January, a revised 60,000 jobs were lost, compared with the 22,000... | | |
| Forexlive European Morning Wrap: Funny old morning, precious little change
March 3, 2010 at 8:08 PM
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| | ForexLive Morning Wrap: Funny old morning, precious little change By Gerry Davies || March 3, 2010 at 12:41 GMT || 4 comments || Add comment Greek cabinet decided on extra austerity measures of 4.8 bln euros Greek PM: We now justifiably expecting EU support Greek PM to visit Paris, meet Sa... | | |
| Bootle Says U.K. Risks Market 'Mayhem' Morning After Election
March 3, 2010 at 8:07 PM
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| | The U.K. risks "mayhem" in its currency and bond markets if voters don't elect a government with a majority in Parliament to curb the record budget deficit, according to former Treasury adviser Roger Bootle. "The morning after an election of that sort, then there would be mayhem in the markets,"... | | |
| US Challenger: 42,090 Layoffs in February vs 71,482 January
March 3, 2010 at 7:59 PM
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| | There were 42,090 layoff intentions announced in February, down sharply from 71,482 in January and from the 186,350 job cuts announced in February 2009, job placement firm Challenger, Gray and Christmas, Inc. said in a report released Wednesday. The data are not seasonally adjusted. Layoffs in F... | | |
| End of TALF Spurs CIT, Sallie Mae Bond Sales: Credit Markets
March 3, 2010 at 7:44 PM
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| | CIT Group Inc., the commercial lender that emerged from bankruptcy, and SLM Corp., the student lender, are leading the most asset-backed bond sales in six months under an expiring U.S. program that helped unlock credit markets. CIT is selling $667 million of bonds backed by equipment leases this... | | |
| Daily Technical Strategist: EURUSD
March 3, 2010 at 7:44 PM
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| | EURUSD: Correction Eyes The 1.3682/92 Levels. EURUSD: As a build up on its Tuesday hammer formation continues to shape up, we are seeing upside risk towards the 1.3682 level, its Feb 26'10 high and its Feb 23'10 | | |
| Fed Vacancies Clear Path for Obama
March 3, 2010 at 7:41 PM
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| Donald Kohn, who helped steer the Federal Reserve through the financial crisis, said he would retire as Fed vice chairman in June, giving President Barack Obama a chance to reshape the Fed by filling the resulting vacancy and two others on its seven-member board. The opportunity comes at a delica... | | |
| Greece on the Brink: Anatomy of a Debt Crisis
March 3, 2010 at 7:19 PM
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| | VIDEO -- Greece on the Brink: Anatomy of a Debt Crisis ATHENS -- Greek Prime Minister George Papandreou said Wednesday the time has come for the European Union to show its support to Greece as it struggles to face its worst economic crisis in recent times, a cabinet member said. Papandreou made ... | | |
| Will the Greek austerity 'haircut' appease the market?
March 3, 2010 at 6:54 PM
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| | Is it enough? Thus far, the proverbial handshake agreement has Greece committed to cutting its budget deficit to +8.7% of GDP this year from +12.7% last year. Will Capital Markets be reassured about Greece potential $6b 'austerity haircut' announced this morning? Will the 'new precise measures'... | | |
| Euro-zone Jan. retail sales fall 0.3%
March 3, 2010 at 6:16 PM
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| | Retail trade volume in the 16-nation euro zone fell by 0.3% in January and was down 1.3% compared to the same month last year, the European Union statistics agency Eurostat reported Wednesday. Economists had forecast a 0.5% monthly fall. December sales were revised up to show a 0.5% rise compared to... | | |
| FOREX, COMMODITIES, STOCKS QUICK OUTLOOK March 3rd : Cliff's Two Minute Drill
March 3, 2010 at 6:13 PM
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| | NB: THE FOLLOWING IS AN ABRIDGED VERSION FOR A FAST OVERVIEW OF ALL MAJOR GLOBAL STOCK, FOREX, AND COMMODITY MARKETS -- FULL ANALYSIS AND CHART ILLUSTRATIONS OF RECOMMENDED TRADES GO TO http://fxmarketanalysis.wordpress.com/ AND SELECT "DAILY OUTLOOK" FOR TODAY Stocks: Prior Day: Asia mixed, Euro... | | |
| Greek cabinet backs sweeping austerity plan: source
March 3, 2010 at 5:38 PM
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| | Greece's cabinet approved a sweeping new austerity program on Wednesday, the third in as many months, in a drive to rein in a bulging budget deficit and secure European financial support, a government source said. BONDS | GLOBAL MARKETS "Measures which will yield 4.8 billion euros ($6.5 bill... | | |
| Analysis: EMU Retail Sales Declined As Expected In January
March 3, 2010 at 5:29 PM
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| | Eurozone retail sales fell as much as expected in January, but from a higher level in December than initially estimated, Eurostat said Wednesday. The 0.3% monthly downturn left seasonally adjusted sales volumes 1.3% below the previous-year level and 0.2% below the 4Q average, which had dipped 0.... | | |
| Greek Cabinet Passes Additional EU4.8 Billion in Deficit Cuts
March 3, 2010 at 5:29 PM
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| | Greece's government passed measures today to cut spending by an additional 2.4 billion euros and raise an extra 2.4 billion euros in revenue, Deputy Citizen Protection Minister Spyros Vougias said. The Cabinet also decided at a meeting today in Athens to cut civil servants' bonus-salary payments... | | |
| EUR/GBP Enjoys Pound Collapse
March 3, 2010 at 5:26 PM
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| | EUR/GBP enjoyed the Pound's collapse to break one technical barrier and bounce off the next one. Update on this interesting cross. | | |
| UK Data: Feb Services Activity Highest Since Jan 2007 - CIPS
March 3, 2010 at 5:01 PM
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| | UK service sector growth accelerated in February, hitting its highest level since January 2007, according to the Markit/Chartered Institute of Purchasing and Supply's latest survey. The headline UK February services activity index came in at 58.4, surpassing analysts' expectations for a 55.5 out... | | |
| U.K. Feb. services PMI jumps more than expected
March 3, 2010 at 4:58 PM
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| | Activity in Britain's dominant services sector expanded at a stronger-than-expected pace in February, according to purchasing managers. The CIPS/Markit purchasing managers index rose to 58.4 for the month, up from 54.5 in January and topping forecasts for a more modest increase to 55.5. A reading of... | | |
| Eurozone Services PMI Drops In February
March 3, 2010 at 4:49 PM
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| | The final Eurozone Services Purchasing Managers' Index dropped to 51.8 in February from 52.5 in January, the latest report from Markit Economics showed Wednesday. The flash estimate for February was 52. A reading above 50 suggests an expansion in the service sector activity. Markit Chief Economi... | | |
| USDCHF: Price Failure To Target 1.0692/45 Levels.
March 3, 2010 at 4:09 PM
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| | USDCHF: Price Failure To Target The 1.0692/45 Level. USDCHF: While we retain our medium term upside outlook on the pair, we are beginning to see some signs of price exhaustion at higher level prices. With a failure to maintain above 1.0896 level seeing USDCHF | | |
| Crude Oil Trades Near $80 on Economic Optimism, Distillate Draw
March 3, 2010 at 4:07 PM
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| | Crude oil traded near $80 a barrel after rising on a possible resolution to Greece's budget problems and as an industry report showed a decline in distillate supplies in the U.S., the world's biggest energy user. Oil gained 1.3 percent yesterday as equity markets gained on speculation that the Eu... | | |
| Services in U.S. Probably Expanded at Faster Pace in February
March 3, 2010 at 3:46 PM
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| | Service industries in the U.S. probably expanded at a faster pace in February, a sign the pickup in manufacturing is trickling to the rest of the economy, economists said before reports today. The Institute for Supply Management's index of non- manufacturing businesses, which make up almost 90 p... | | |
| Spain Campa: Low Debt Level Make Spain Not Greece
March 3, 2010 at 3:35 PM
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| | Spain's "very, very reasonable debt levels" distinguish it from Greece, Jose Manuel Campa, Spain's Secretary of State for the Economy, told CNBC Wednesday. Furthermore, "Spain has shown fiscal discipline over the last ten years," Campa pointed out. Still, he conceded that Spain's 11.4%-of-GD... | | |
| Britain's lack of credibility hurts sterling
March 3, 2010 at 3:21 PM
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| | Sterling has been weak and jittery recently, falling below $1.50 on Monday. Even with the euro weakening amid the sovereign debt tsunami about to engulf Greece – barring a rescue – the pound has dropped against the single currency. There are good reasons for the weakness and volatility of sterlin... | | |
| ECB Said to Consider Lending Covered Bonds to Banks to Increase Collateral
March 3, 2010 at 3:16 PM
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| | The European Central Bank may lend covered bonds back to financial institutions for a fee as part of a strategy that would ease banks' access to funds. ECB policy makers will discuss the plan at their meeting in Frankfurt tomorrow, said three people familiar with the deliberations. No decision h... | | |
| Australia's economic growth picks up pace
March 3, 2010 at 3:16 PM
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| | Australia's economic growth accelerated in the last quarter, according to data published Wednesday, with analysts saying the results look likely to fuel more interest-rate hikes. Australia's gross domestic product grew a seasonally adjusted 0.9% in the October-December quarter, increasing from t... | | |
| China Economic Growth May Slow, Billionaire Zong Says
March 3, 2010 at 3:08 PM
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| | China's economic growth will probably slow in the second quarter alongside a decline in housing prices, said billionaire Zong Qinghou, the nation's third-richest man. The property market will probably weaken because the government has signaled it wants prices to fall, Zong, the billionaire found... | | |
| Forex Daily Outlook – March 3rd 2010
March 3, 2010 at 2:30 PM
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| | Today's highlights are the Australian GDP and American ADP Non-Farm Payrolls, which will raise the tension towards Friday's big event. Let's see what's up for today. | | |
| EUR/USD Forex Market Moving News by AceTrader
March 3, 2010 at 2:28 PM
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| | EUR/USD - 1.3646..http://www.acetraderfx.com Euro bears succeeded in pushing euro below 1.3443 sup briefly y'day to a fresh 2010 low of 1.3433, however, too many shorts were out there to take profit at this cheap lvl n price was bidded up swiftly n sharply. Today's report of hedge funds buying on... | | |
| Greece to Detail $6.5 Bln in Budget Cuts to Avoid 'Catastrophe'
March 3, 2010 at 2:27 PM
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| | Greek Prime Minister George Papandreou said his government is discovering "new holes" in the budget on a daily basis as it prepares to announce as much as 4.8 billion euros ($6.5 billion) in extra deficit cuts. Bowing to pressure from the European Union and investors to do more to tame the EU's ... | | |
| Analysis: Germany's Retail Sales Unexpectedly Flat in January
March 3, 2010 at 2:17 PM
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| | FRANKFURT (MNI) - Retail sales in Germany were unexpectedly stable in January in real terms, while December's gain was modestly revised upwards, feeding hopes that a consumer supported recovery may emerge early this year, the Federal Statistical Office reported on Wednesday. A majority of analyst... | | |
| Dollar slips broadly, euro firmer on Greece hopes
March 3, 2010 at 2:15 PM
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| | TOKYO, March 3 (Reuters) - The dollar touched its lowest in more than two months against the yen on Wednesday as investors dumped long positions against other currencies that had built up to levels not seen in more than a year. Investors have been picking up dollars in recent months as Greece's c... | | |
| UK Food inflation drops to three-year low
March 3, 2010 at 1:57 PM
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| The fall in food inflation, from 2.9pc in January, was driven by 0.3pc deflation in fresh food, as the price of vegetables and fish fell. It was the first time that any part of the food category had fallen into deflation since the series began in December 2006, the BRC and Nielsen said. The repo... | | | | 
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