Forex Fundamental Analysis
Figures just released have shown that growth in the UK economy slowed in the second quarter of the year to just 0.2%, down from 0.5% in Q1.
The Reserve Bank of India has stated that controlling inflation is its top priority. With many of India’s population on the wrong side of the poverty line, rising prices can be an incendiary problem.
We remain bearish on the US Dollar and bullish on the Euro, and we've taken a look at all the major currencies for the week ahead. Take a quick look at USD, EUR, GBP, JPY and more here.
All of the world’s major indices closed higher last week despite continuing sovereign debt concerns in Europe and the USA. In Europe over the course of the week, the FTSE gained 1.6% and closed at 5935; the Dax climbed by 1.5% to close at 7326.4; the CAC strengthened by 3.1% to end the session at 3842.7.
Next year, the American people will elect their next President. The people are often fickle and have relatively short memories in many cases. When President Obama came in to office, he had control of both US houses, the Senate and Congress, but his party lost control of the House in mid-term elections. This means that his government cannot pass legislation without the support of the Republicans.
The International Monetary Fund and the Eurozone members provided Greece with a staged €110 billion loan to help the nation meet obligations stemming from its huge public debt when financing it through the market became prohibitively expensive.
The European Banking Authority (EBA) has released the results of a second round of banking stress tests which are designed to verify if Europe’s banks could withstand a further major economic calamity.
The two nations voted most likely to need the next IMF/EU bailout are Italy and Spain. Predatory investors have their eagle eyes trained on Italy and as a consequence, the bond market is jittery.
The USD finished sharply lower on Friday against its key counterparts on Bernanke congressional testimony & U.S. government credit rating fears. The Fed is weighing its next step, but the US debt problem is already affecting the global Forex market.
All of the world’s major indices closed lower last week on sovereign debt concerns in Europe and the USA. In Europe over the course of the week, the FTSE fell, shedding 2.5% of its value and closing at 5843.7.
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