- Peter Schiff - Animated Oprah Interviews Bernanke
January 29 2013 1:50 PM
Earlier this month Oprah Winfrey grabbed headlines with her blockbuster interview with serial doper and international pariah Lance Armstrong. Now, an animated Oprah keeps the momentum going with a harrowing interview with Federal Reserve Chairman Ben Bernanke, another major figure who is equally dependent on artificial stimulus to juice his job performance.
- Eurozone Lending Drops and Opens the Door for ECB Rate Cut
January 29 2013 9:04 AM
The euro was strong on Tuesday morning, trading steadily below $1.35. The currency has been on a high since Friday's announcement that eurozone banks will repay their European Central Bank loans earlier than expected. On Friday, eurozone banks showed their growing strength as they announced they would repay 137.16 billion euros worth of three year loans that they borrowed from the ECB. The money, which was lent in both December of 2011 and February of 2012 will be returned on January 30th.
- Resource Investors: Why You Can Expect Sunnier Days Ahead
January 28 2013 7:26 PM
During the current commodity supercycle, there have been occasions—too many to count—when investor psyche has been damaged by reports about slowing U.S. growth, a hard landing in China or a debt crisis in Europe. Yet just behind the gloom, significant and positive trends are taking hold, causing the storms to start dissipating.
- How Will Euro Banks Be Restructured?
January 28 2013 11:12 AM
Various proposals for banking regulation changes in Europe are currently under consideration and could result in the drastic restructuring of EU banks. Liikanen One of the proposals comes from an EU-mandated group which is led by Erkki Liikanen, the governor of Bank of Finland. Liikanen’s group offered non-binding suggestions that would have EU banks move trading activities, such as market-making, into a unit that’s separate from deposit collecting and that’s capitalized separately. The EU banks would also face extra rules on bonuses.
- Eurozone Recovery Hasn't Erased Social Costs of Last Year's Recession
January 28 2013 9:50 AM
The euro seemed to be well on its way to recovery on Monday morning as it vaulted toward an 11 month high against the dollar. The common currency, buoyed by renewed investor confidence in the region, traded at 1.3435 on Monday. The currency rocketed after news on Friday confirmed predictions that eurozone banks would repay more than expected of their European Central Bank loans.
- Spot USD/JPY Forecast for 01/27 January by Daytradeideas.com
January 27 2013 5:38 PM
The USDJPY broke 90.13/25 highs and continued through the next target of 90.79 reaching 91.19. This week we are looking for 91.48 as the next target. This may trigger some profit taking so watch for a pull back but if we break higher again in this powerful run look for 92.08/12. A drift lower should find support at 90.46 then 90.00. Unlikely we fall any further for today but look for 89.63 then 89.26 as further support.
- Currency Wars And The European Central Bank's Shrinking Balance Sheet
January 25 2013 2:12 PM
Are the euro's gains just starting as the ECB balance sheet shrinks further from LTRO repayment? 278 European banks have repaid €137 bn in the first LTRO operation, which raised € 489 bn in December 2012. LTRO-2 from February 2012 now receive a repayment of about €250 bn.On today's announcement, Spanish 10-year yield saw its biggest decline of all Eurozone bonds, losing 15 bps versus a mere 3 bps for its Italian counterpart. This is partly explained by the fact that Spanish banks were the biggest borrowers in LTRO-1 lending, accounting for 41% of total take-up, compared to 25% from Italian banks.
- Merkel Considers Cameron's Proposal to Renegotiate British Membership with the EU
January 25 2013 11:09 AM
The euro traded steadily on Friday morning even after UK Prime Minister David Cameron gave a worrying speech on Wednesday; in which he promised to but Britain's membership to the EU to a vote if his Conservative party won the upcoming election. Following his speech, the common currency was little changed and traded at $1.3446 on Friday morning.
- Fed Balance Sheet Crosses $3 Trillion for First Time in History
January 25 2013 9:08 AM
January 23 marked a historic event for the Federal Reserve, the monetary institution which has seen its share of historic events since the onset of the financial crisis in 2007. However, as of the week ended January 23, the Fed's balance sheet grew to $3 trillion for the first time ever, the largest in the Fed's nearly 100 year history.
- Weekly analysis EUR/JPY
January 25 2013 8:55 AM
The currency markets have exploded to life in 2013 after an extremely quiet final quarter of 2012. The current climate is dominated by the continued strengthening of the euro and the hastening decline of the yen. The eurozone has seen the beginnings of stability, and even signs of recovery. Large institutions such as Goldman Sachs have issued large buy notes on the currency, targeting highs of up to 1.4000 on the EUR/USD.
- Investors Tentatively Return To The Eurozone
January 24 2013 9:27 AM
The euro ticked up steadily on Thursday morning as Portugal took its first steps toward financial freedom on Wednesday afternoon and held a successful bond auction. Following in the footsteps of Ireland, Portugal sold longer term debt for the first time since April 2011 when it was forced into bailout.
- Will the Next Leg of the European Crisis Begin on January 30?
January 23 2013 3:56 PM
January 30 is an important date for European banks and for the euro system as a whole. The day could end up passing like any other day, but it could also spark a reversal of months of improvement in credit markets, sending the continent back into the depths of the crisis. Why you may ask? The answer is four short letters...
- Euro zone's debt stabilizes as north-south split emerges
January 23 2013 10:27 AM
Public debt levels in the euro zone neared their projected peak last year after more than a decade of huge borrowing, but data also highlighted a divide between the richer north and Mediterranean countries where the burden is still growing. Government debt stabilized at 90 percent of economic output in the 17 nations sharing the euro in the third quarter, barely changed from 89.9 percent in the second, the EU's statistics office Eurostat said on Wednesday.
- Dutch Finance Minister Jeroen Dijsselbloem Elected Eurogroup Chair, Raising North-South Tensions
January 22 2013 12:31 PM
Dutch Finance Minister Jeroen Dijsselbloem this morning was formally elected to the position of president of the Eurogroup and is tasked with succeeding outgoing Chief Jean-Claude Juncker, the Prime Minister of Luxembourg, in the key crisis fighting role. The election came with great contest from Spain, paving the way for future conflicts over bailouts, austerity, and fixing the banking system.
- Dijsselbloem Replaces Juncker as Eurogroup Chair
January 22 2013 10:39 AM
The euro remained strong on Tuesday morning after investors sized up the newest chairman of the Eurogroup Monday afternoon. The common currency traded at 1.3362. Dutch Finance Minister Jeroen Dijsselbloem became the new chairman of the 17 eurozone finance ministers on Monday after being elected by his peers. He replaced Luxembourg's Jean-Claude Juncker as leader of the Eurogroup, allowing him powerful influence over the region's policies, as he will chair the Finance Ministers' monthly meetings for the next two and a half years.
- A Peek At Economy Of Japan
January 20 2013 7:38 PM
The year 2012 proved to be another tough year for Japanese economy resulting from a strong Japanese Yen and the dispute with China over the inhabited islands in the East China Sea. This negatively affected the country’s exports resulting in the decline of Japanese exports.
- Light At The End Of The Tunnel For Eurozone
January 18 2013 1:04 PM
The euro has shown signs of strength over the last two days, after further evidence that the eurozone could be past the worst of the crisis. The eurozone is still in recession, the GDP for the region contracted by 0.1% in the last quarter. However, there are signs that the fundamentals are in a position to support a return to growth. Reports on Tuesday showed that the trade balance for the euro-region increased from 8.2B to 11.0B and the unemployment rate as a whole remained steady.
- German Economy Down, But Not Out
January 17 2013 8:57 AM
The euro held steadily below $1.34 on Thursday morning, even as Europe's largest economy showed signs of slowing. The commodity traded at 1.3342 on Thursday morning.
- 17/1/2013 - The Current Market Sentiment
January 17 2013 8:54 AM
While the markets are stepping cautiously towards the negations of having a deal to raise the debt ceiling in US from the current $16.4b, the worries about the deficit financing in US are rising up as with no deal there can be another financial crisis as the government which pays 2 million bills a day cannot issue new bonds and it will be forced to wait for liquidity and also cut spending by a way can cause turmoil can lead to default.
- Outlook for Current Forex Action
January 17 2013 8:44 AM
After going as high as 1.3404, EUR/USD could not sustain the psychological resistance of 1.3500 ranges. The currency pair remained in sideways mode below 1.3400 for over 15 hours but then fell strongly to 1.3263 before recovering slightly.