Concerns Over UK Economy Send Sterling To A 9 Month Low Against The Dollar
Friday, February 26, 2010 GMT
The current relative strength of the Dollar against Sterling and the Euro has as much to do with concerns over the European currencies rather than confidence in the Greenback; US economic performance data has hardly been stunning of late. The Euro is under pressure because of worries over the Greek debt position and to a lesser extent over the debt levels in Spain and Portugal.
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Bernanke Warns That Government Borrowing May Become Pricier
Thursday, February 25, 2010 GMT
Speaking before the US Congress, Federal Reserve Chairman, Ben Bernanke, warned that the US may have to pay more money to service its budget deficit. According to predictions made by President Obama, the US budget deficit is set to rise to $1.56tn in 2010.
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Double Dip Recession for Europe
Thursday, February 25, 2010 GMT
Earlier today, the 2-year note yields traded around 0.85% and German 2s are down to record lows of 0.89%, below the ECB’s 1% overnight rate, possibly signaling that Europe may be in for a double dip recession.
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Japan Wants Inflation To Rise
Wednesday, February 24, 2010 GMT
Anybody who grew up in the developed world learned from an early age that inflation was a bad thing; an evil beast to be kept at bay with swingeing cuts in public expenditure and hikes in the cost of borrowing.
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US Consumer Confidence Dips Sharply To 10 Month Low
Wednesday, February 24, 2010 GMT
With some 70% of American GDP tied to domestic demand for goods and services, the news that consumer confidence has fallen to a 10 month low has come as a major blow as he world’s largest economy tries to put clear water between it and the global financial crisis. The news was credited with wiping 1% off the Dow Jones at yesterday’s close as the market digested a confidence index fall from 55.6 in January to 46 for February.
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FOREX: The Last Week’s Trading Activities In Perspective
Monday, February 22, 2010 GMT
All of the major stock markets closed higher for a second week at the end of last week’s trading session. In Europe over the course of last week, the FTSE put on 4.2%, closing at 5358.2; the CAC was up by almost 4.7% closing at 3769.5; the Dax made 4.0%, ending the week at 5722.1.
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UK Debt Problem Worsens
Friday, February 19, 2010 GMT
2010 will see a general election in the UK and from the current opinion poll predictions there may well be a change of government as a result. For that reason, one must take Alistair Darling’s (Chancellor of the Exchequer) prediction that he will cut the UK public debt in half over the next four year from its current level of about 9% of GDP. It is easy to sound confident about measures that one may never need to bring to fruition.
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UK Jobless Eases (Just) For The Second Straight Month
Thursday, February 18, 2010 GMT
Meanwhile, on the other side of the Atlantic, a little joy was to be found in the official unemployment statistics which revealed that the jobless total had dropped by a further 3000 people to 2.46 million or 7.8% of the workforce. UK unemployment statistics can provide a complex and confusing picture as they are collated in various different ways to show the data.
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Foreign Demand For US Debt Weakens
Wednesday, February 17, 2010 GMT
US Treasury bonds are a mechanism for the country to raise financing from foreign and domestic sources. The bonds promise that the holder can redeem the bonds at maturity for a given level of interest.
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