- German Industrial Output Data Lifts Euro
May 09 2013 8:25 AM
German industrial output data lent strength to the euro on Wednesday and lifted the currency to nearly a one week high. Overnight the common currency maintained some of those gains and traded at 1.3149 on Thursday morning. Investors took comfort in unexpectedly positive German industrial output data which showed a marked increase in March. The BBC reported that the nation's industrial output grew 1.2 percent from the previous month and surprised analysts, who were expecting to see a decline. The figures came after a rise in factory orders was announced on Tuesday. With two days of solid data, many are optimistic about the state of the German economy and its ability to recover from its recent stint of poor data. As the largest economy in the eurozone, Germany has been under quite a lot of pressure to maintain a stable economy amidst a widespread financial crisis.
- New Banking Stress Tests Could Put Eurozone Closer to Unified Banking System
May 08 2013 8:36 AM
The eurozone took a step toward unifying its banking system on Tuesday as Jeroen Dijsselbloem, Dutch finance minister and President of the Eurogroup, discussed a new round of stress tests which would evaluate the current state of the region's banks before they are linked. The Wall Street Journal reported that Dijsselbloem said the type of in depth review the European Central Bank would conduct could produce worrying results for some banks. However, the region must have complete transparency and be ready to deal with any weaknesses as it moves forward to align regulations and unite banks under one common supervisor and create a resolution mechanism for ailing banks.
- CFTC Commissioner Bart Chilton Considers Regulating Bitcoin
May 07 2013 12:13 PM
Bart Chilton, Commodity Futures Trading Commission Commissioner, appeared on CNBC's Squawk Box Tuesday to discuss having his eye on the digital currency Bitcoin.
- Euro Slips on Draghi's Comments
May 07 2013 8:38 AM
The euro lost some ground on Tuesday morning after Mario Draghi reiterated the central bank's commitment to further easing on Monday. The common currency fell to $1.3052 overnight and steadied at $1.3088 in the early hours of Tuesday.
- Finland's Alexander Stubb Expresses Commitment to the Euro
May 06 2013 8:32 AM
The euro traded steadily at $1.31 on Monday morning following last Thursday's European Central Bank interest rate cut. The bank met expectations and cut its already record low interest rate to 0.5 percent. The cut itself put pressure on the euro, but bank President Mario Draghi's press conference following the meeting was the main driver in weakening the currency.
- ECB Considers Lowering Deposit Rate
May 03 2013 8:09 AM
The euro settled at $1.31 on Friday morning after taking a hit on Thursday following the European Central Bank's monthly meeting. The bank lowered interest rates by 0.25 percent on Thursday, causing the euro to waver, however it was Mario Draghi's press conference following the meeting that put the most pressure on the common currency.
- Euro Hanging on ECB Rate Cut Speculation
May 02 2013 8:11 AM
The euro steadied just below Wednesday's two week high ahead of the European Central Bank's meeting. The currency traded at $1.3162 on Thursday morning as investors waited for bank President Mario Draghi's press conference following the meeting for the bank's plan to help pull the region out of the prolonged financial crisis.
- ECB Rate Cut Could Boost Euro Value
May 01 2013 9:25 AM
With the European Central Bank's monthly meeting just a day away, the euro ticked up on rate cut expectations. The common currency neared a two week high on Wednesday and traded at $1.3191.
- 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.