- Dollar at 29-month high versus yen; may rise on U.S. payrolls
January 04 2013 9:35 AM
The dollar extended gains to hit its highest level in nearly 2-1/2 year against the yen and rose versus the euro on Friday after U.S. Federal Reserve minutes indicated growing unease about the impact of further stimulus.
- Euro Slips Further on Bleak Future
January 04 2013 8:59 AM
The euro slid on Friday morning as investors worried about the U.S. upcoming budget battle and approaching debt-ceiling. The common currency traded at 1.3013 on Friday. After a huge jump following the U.S. fiscal cliff deal, the markets calmed and the euro began to sink. It's no secret that the region is in for a difficult year, and although recent progress gave the currency a lift, the bloc still has quite a bit of work to do.
- 4/1/2013 - The Current Market Sentiment
January 04 2013 5:12 AM
The gold has come under pressure following the minutes of the Fed’s last 12 December meeting which has ended to new timely unlimited buying of US treasuries by $45b monthly as the minutes have shown that there is tendency of cutting the QE stance by 2013.
- Peter Schiff - Congress Avoids the Cliff by Selling Us Down the River
January 03 2013 1:09 PM
With the possible exception of the New York Times' editorial board (and the cast of The Jersey Shore), everyone on the planet understood that the United States Government needs to cut spending, increase taxes, or both. Instead, after months of political posturing and hand wringing, the Federal Government has just delivered the exact opposite, a deal that increases spending and decreases taxes. The move lays bare the emptiness of budget legislation, which can be dismantled far easier than it can be constructed.
- Euro Sinks On Manufacturing Data
January 03 2013 9:19 AM
The euro turned downward on Thursday morning, trading at 1.3140. The fall is attributed to new manufacturing data out on Monday that seemed to confirm sentiments that the eurozone was in for a troubling year.
- Peter Schiff - TREASURY'S LAST PILLAR CRUMBLES
January 03 2013 9:10 AM
With the return of Shinzo Abe and his Liberal Democratic Party to power in Japan, the market for US Treasuries may be losing its last external pillar of support. Re-elected on September 26th, Abe has quickly set a course for limitless inflation, saying Japan must "free itself from deflation and the strong yen." This is significant to the global economy as Japan is the largest foreign power left with a strong appetite for US Treasuries. If this demand falters, the Fed may be the only remaining buyer of new Treasury issuance.
- 3/1/2013 - The Current Market Sentiment
January 03 2013 5:59 AM
XAUUSD could add to its gains versus the greenback trying for heading to 1700$ per ounce as the reached deal for averting the fiscal cliff in US could put pressure on the US dollar as the investors looked again for risky assets pushing up the US blue ships in the first session of the year supporting the gold in the same time as there was no withdrawing liquidity out from the economy for restoring the financial position in US showing inflation upside risks offering defensive place for the greenback again.
- 2013 Expected to be a Difficult Year in the Eurozone
January 02 2013 8:58 AM
The euro soared on Wednesday morning, trading at 1.3270. When the US reached a fiscal cliff deal at the last minute, markets turned and risk appetite increased. The euro gained against the dollar as investors switched their money from the dollar to riskier currencies like the euro. The fiscal cliff drove prices up, but as the eurozone moved into 2013, many wondered whether the common currency's recent positive streak would continue. German Chancellor Angela Merkel advised in her New Years address that things would get worse in 2013 before they got better, a sentiment European Central Bank President Mario Draghi expressed earlier in 2012.
- Washington Squanders its Gift of Time
January 01 2013 5:18 PM
As the clock winds down on 2012, the Fiscal Cliff is all anyone seems capable of discussing. Right now it appears that some sort of narrow deal has just emerged that will include raising tax rates on family income over $450,000 a year, increasing the estate tax rate, extending unemployment benefits for one year, and delaying spending cuts. But the prospect of higher taxes and the great uncertainty that has surrounded this fiscal fiasco has been acting like sand in the gears of the complex but sputtering U.S. economy. If additional taxes are not matched by real cuts in government spending, the economically crippling tax increases will serve merely to increase the size and intrusive power of big government. In other words, the pain will yield no gain.
- Euro Holds Steady on U.S. Fiscal Cliff Talks
December 28 2012 9:51 AM
The euro traded at 1.3194 on Friday morning as investors waited for the outcome of a last minute meeting in Washington, where President Obama is set to meet with both democratic and republican lawmakers about the impending fiscal cliff. The uncertainty surrounding the US fiscal cliff has weighed on risky currencies and added to uncertainty about the common currency.
- Yen hits fresh two-year low and seen staying weak
December 28 2012 5:00 AM
The yen fell to its lowest in more than two years versus the dollar on Friday, weighed down by expectations the new Japanese government will push the Bank of Japan to ease monetary policy further. The Japanese currency's unabated slide, since Shinzo Abe took the helm as Japan's prime minister on Wednesday, has seen it hit fresh two-year lows for three days in succession. Abe has vowed to press for aggressive monetary stimulus to fight deflation.
- Euro Steady As Investors Eye Italian Elections
December 27 2012 8:54 AM
The euro traded at 1.3227 on Thursday morning as confidence in the eurozone continued to bolster the prices. The common currency has been trading above $1.30 consistently since the restructuring and approval of Greece's aid package.
- Dysfunctional D.C. Leans on Fed's Printing Press
December 26 2012 9:29 AM
It should now be clear to all Americans that our government is completely incapable of voluntarily reducing our fundamental problem of excess debt. The inability of Washington D.C. to address spending, even under the duress of a legal obligation to do so, is flagrantly obvious.
- Euro Saw Little Change After the Christmas Holiday
December 26 2012 9:05 AM
The euro traded at $1.3181 on Wednesday morning. The common currency saw little change after markets were closed on Tuesday for the holidays. The eurozone financial crisis seems to have settled since Greece's bailout was restructured and accepted by the region's lawmakers. However, the current political trouble in Italy and uncertainty in Spain have remained to remind investors that the region is far from being in the clear.
- The Fiscal Cliff: Don’t Panic, It’s Only Improbable
December 23 2012 4:30 PM
On Thursday evening, the House of Representatives cancelled their vote on Speaker John Boehner’s (R-Ohio) “Plan B” solution to the fiscal cliff. Boehner was unable to gather the necessary support from his party because of the tax rate increase on Americans earning over $1 million per year that was part of the proposal.
- Republican Sellout Invites Stagflation
December 21 2012 2:12 PM
While it may not be a surprise that the Republicans are preparing to yield on their vow to oppose tax hikes, it should raise investor concerns the world over that an upcoming budget agreement will likely involve a Congressional surrender of its authority to set the federal debt ceiling. In exchange for this, it appears that the Republicans have simply done nothing to halt, or even curb, the dangerous federal spending trajectories or the current drift towards greater state control of the economy. President Obama has politically outmaneuvered the Republicans, even going as far as evoking the Newtown massacre as a reason for quickly concluding a deal. As a result, it is likely that the GOP will bear the blame for any breakdown in fiscal cliff negotiations. They could wear such an outcome as a badge of honor, but nothing indicates that they have the political courage to do so.
- Currency Wars Expand Their Battlefield
December 20 2012 2:44 PM
The price of gold has been in decline over the past few weeks. Despite the Federal Reserve launching a fourth round of quantitative easing, the precious metal can not seem to stem the heavy selling pressure. However, long-term investors are not likely to be deterred by the short-term price action as central banks around the world continue to engage in currency wars.
- Euro Soars on Eurozone Recovery
December 20 2012 8:27 AM
The euro continued its upward climb on Thursday morning, trading at 1.3209. The common currency has been on a high ever since investor sentiment improved and confidence in the region was restored. Credit rating agency Standard & Poor's upgraded Greece's credit rating to B-minus status on Tuesday after the nation's peers and the International Monetary Fund made a solid commitment to help it stay in the eurozone and climb out of debt over the next few years. The eurozone and the IMF worked together to restructure Greece's bailout terms and create a realistic plan to help get Greece back on track financially.
- Bank of England sees flat output, above-target inflation in 2013: minutes
December 19 2012 10:31 AM
Britain's economy is likely to remain broadly flat in the near term but inflation would probably exceed 2 percent in the next year or so, minutes to the BoE's December 5-6 meeting showed on Wednesday.
- Euro Hits Seven Month High Against the Dollar
December 19 2012 8:20 AM
The euro traded at 1.32 on Wednesday morning after reaching a seven month high against the dollar on Tuesday. The common currency's strength was attributed to a higher risk appetite in the market as US lawmakers neared a deal on the impending ‘fiscal cliff'. The fiscal cliff negotiations coupled with increased confidence in the eurozone has given the euro a much needed boost over the past few weeks. The region has been battling a financial crisis for the past three years and many are predicting that 2013 will be the light at the end of the tunnel.