- GDP Bag of Tricks
April 30 2013 8:52 AM
If you're not happy with the stumbling U.S. economy all you have to do is just wait a few more months. It seems the Bureau of Economic Analysis (BEA) will perform a little hocus pocus on the GDP numbers starting in July 2013. According to the Financial Times, U.S. GDP would become 3% bigger due to the new change in its growth calculations.
- Decline in Eurozone Economic Confidence Adds to Growing Rate Cut Speculation
April 30 2013 8:31 AM
The euro improved on Tuesday morning following positive news that Italy had finally formed a government in the wake of February's inconclusive elections which left the nation without leadership. The common currency ticked up to $1.31 on Tuesday morning after Italian stocks rocketed on Monday in response to the new Italian Prime Minister Enrico Letta's naming of a coalition on Saturday.
- Greece Cuts Nearly 15,000 Jobs to Receive Next Bailout Installment
April 29 2013 8:15 AM
The euro traded at $1.30 on Monday morning as the eurozone headed into the week facing several pressures. Growing speculation about the European Central Bank's meeting, scheduled for Thursday, is weighing on the common currency. Most are expecting the bank to cut its record low 0.75 percent interest rate at Thursday's meeting following a string of poor data that showed the eurozone's powerhouse economy, Germany, was being dragged down by the current economic climate.
- Eurozone to Focus on Structural Reforms
April 26 2013 8:26 AM
Rumblings that the euro may have found the light at the end of the tunnel kept the common currency trading steadily at $1.30 on Friday morning as eurozone officials optimistically concluded that no more major problems were foreseen in the near future. Reuters reported that European Central Bank policymaker Yves Mersch said on Wednesday that the botched Cyprus bailout was the lowest he expected any country to fall. His comments reflect the bank's latest promises to slow down fiscal tightening now that the region has resolved immediate issues.
- Tanzania's Cashew Nut Farmers Riot Over Poor Prices
April 25 2013 10:03 AM
Cashew nuts are one of Tanzania’s principal cash crops.
- ECB Rate Cut Possible, But Not Definite
April 25 2013 8:11 AM
The euro ticked up on Thursday morning, reaching $1.3031 despite a disappointing purchasing managers' survey out on Tuesday. The purchasing managers' index remained unchanged from last month's figure, but the steep decline in new orders was worrying for May's results. Most investors were more concerned with Germany's PMI, which indicated that business activity dropped sharply in April.
- ECB Meeting Preview: Economists Expect Rate Cut, Markets Less So
April 24 2013 3:27 PM
The European Central Bank is set to release its interest rate decision next week on Thursday, May 2. However, economists are already talking about a potential rate cut. No less than 10 banks have released notes in the past 24 hours calling for a rate cut, following the weaker than expected German IFO Business confidence survey and PMI release over the past two days.
- Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD
April 24 2013 2:19 PM
USD falls with negative durable goods data - Euro trades lower on a combination of German data and possible ECB rate cuts - Sterling edged higher as BoE announces credit stimulus
- LTRO payback calm suggests unconventional ECB steps ahead
April 24 2013 9:40 AM
The relaxed view of money markets to the quicker-than-expected repayment of the ECB's LTRO crisis loans suggests many players expect the central bank to delve back into its unconventional policy toolbox before the end of the year.
- Eurozone PMI Fuels ECB Rate Cut Speculation
April 24 2013 8:58 AM
The euro declined on Wednesday in the aftermath of several reports of economic weakness the day before. The common currency was trading at $1.2975 at 8:43 GMT on Wednesday morning, at nearly a two week low. A purchasing manager' survey showed that private sector activity was declining, and Markit Economics announced the region's composite index was 46.5, unchanged from the previous reading.
- Barroso Suggests that a Policy Shift is on the Eurozone's Horizon
April 23 2013 8:17 AM
The euro traded steadily at $1.30 on Tuesday morning as investors waited for the Spain's latest budget plan, set to be released later this week. The nation's Finance Minister Luis de Guindos said the plan for the next few years will be focused on economic growth rather than deficit reduction.
- The Euro Begins the Week Among Rate Cut Rumors
April 22 2013 8:18 AM
The euro kicked off the week trading at $1.30 on Monday morning as investors prepared for the results of a preliminary purchasing executive survey which could force the European Central Bank to cut interest rates at their next meeting in May.
- Eurozone Policy Makers Pledge to Slow Down Fiscal Tightening
April 19 2013 8:52 AM
The euro received a much needed boost on Friday morning after US data showed that the number of unemployment benefit claims in the nation rose last week. Also weighing on the greenback was a dip in the country's April Mid-Atlantic factory activity. The euro traded at 1.3091 at 9:12 GMT on Friday morning. The euro has been under a lot of pressure recently as one by one struggling members of the bloc began to resist the region's austerity centered recovery efforts. In Italy, an inconclusive election highlighted the country's frustration with the ongoing tax hikes and spending cuts. Protests in Spain and Greece have flooded the streets and at times turned violent.
- China Poised To Loosen Grip On The Yuan: Report
April 18 2013 8:33 AM
China’s control over the value of its currency could soon be a little less strict, according to a top central bank official.
- Euro Slides on Possible ECB Rate Cut
April 18 2013 8:19 AM
The euro traded at $1.3053 on Thursday morning after falling more than one percent on Wednesday because of rumors that the European Central Bank was planning to cut interest rates in May. According to Reuters, an ECB Governing Council member, Jens Weidmann, made statements indicating that if economic conditions in the eurozone worsen, the bank may cut rates again. Weidmann's insights were a massive blow to the common currency, and European shares also fell to their lowest this year.
- German Debt Rises to Dangerous Highs
April 17 2013 8:57 AM
The euro traded above $1.30 on Wednesday morning, but faced pressure as German concerns threatened to derail the region's progress toward a unified banking system. The common currency traded at 1.3155 at 8:00 GMT on Wednesday. When European Union leaders agreed to create a unified banking system back in December, Germany was always hesitant about accepting the new union with open arms.
- Greece to Cut 15,000 Jobs as Part of Bailout Terms
April 16 2013 8:00 AM
The euro traded steadily at $1.30 on Tuesday morning after news that an anti-euro political party in Germany was gaining popularity. The radical movement is the latest in a series of public outcries from both northern and southern European nations that are getting tired of the ongoing eurozone bailouts and reforms.
- Weekly Summary on USD, EUR, JPY, GBP, AUD, CAD and RMB
April 15 2013 2:04 PM
USD slid lower against most majors, with recent negative economic data - Commodities dropped with disappointing data from China - GBP near two-month highs following a boost in home prices
- German Anti-Euro Party Making Waves
April 15 2013 9:32 AM
The euro began the week trading evenly at $1.30 after the region's policy makers backed a 10 billion euro aid package for Cyprus on Friday. However, Cyprus will need to find 13 billion euros on its own, a sum twice as large as the original estimate. The bailout remains uncertain as many analysts believe the tiny island nation won't be able to raise that kind of capital, and will eventually need more funding.
- Cyprus' Fundraising Needs Nearly Double
April 12 2013 8:38 AM
The euro traded just below $1.31 on Friday morning as eurozone finance ministers gathered in Dublin for an informal meeting to discuss, among other things, the Cypriot bailout. The bailout, which has caused outrage in Cyprus and many of its eurozone peers, originally required the tiny island nation to raise 7 billion euros on its own, and the European Union and International Monetary Fund would offer 10 billion.