The Greek parliament prepared to adopt a harsh austerity plan on Thursday in the face of violent unrest, as markets looked to the European Central Bank to prevent a debt crisis engulfing the euro zone.
* Fears of dollar squeeze seen in Thai, Indian markets
* Worries grow that Greek debt crisis will spread
* New Zealand swaps curve shifts upwards, rate hike seen
Greece's economic crisis sent shivers of fear through global markets on Thursday over concern it could spread like wildfire through Europe and beyond.
The Australian Dollar fell again overnight, trading to a low of USD0.9025 due to ongoing risk aversion.
Stocks sagged on Wednesday as more signs emerged that the fallout from the Greek debt crisis could spread to bigger European economies.
European leaders warned on Wednesday that the euro zone debt crisis could spread like a bushfire beyond Greece, and investors sold stocks and the euro as Greek anti-austerity unrest claimed its first lives.
U.S. stocks slipped on Wednesday on worries that Greece's debt crisis could spread to other euro zone nations, but losses were pared as some investors looked for bargains a day after a hefty sell-off.
U.S. stocks slipped on Wednesday on worries that Greece's debt crisis could spread to other euro zone nations, but losses were pared as some investors looked for bargains a day after a hefty sell-off.
U.S. stocks slipped on Wednesday on worries that Greece's debt crisis could spread to other euro zone nations, but losses were capped as investors looked for bargains a day after a hefty sell-off.
U.S. stocks fell for a second day on Wednesday as Greece's sovereign debt crisis spread and Moody's Investors Service warned Portugal could be next to have its debt downgraded.
Even as gold is set to cash in on the European economic crisis, other metals like steel and copper are set to witness a fall following the debt crisis in Greece, Spain and Portugal. The debt crisis has hit several nations in the Europe and the Euro is also struggling. This will help gold because panicked investors will rush to park their money in gold as a safe haven.
Wall Street was set for a lower open on Wednesday as continued jitters about Greece's sovereign debt crisis and its potential to spread overshadowed data showing jobs growth in the U.S. private sector.
U.S. stock index futures fell on Wednesday as investors continued to anxiously eye the Greek sovereign debt crisis and its potential contagion.
French bank Societe Generale pegged its exposure to Greek sovereign debt at 3 billion euros ($4 billion) for the first time on Wednesday after weeks of market fears over the debt-stricken country.
Euro zone policymakers and the head of the IMF warned of looming financial contagion on Wednesday unless a euro zone debt crisis is stopped in Greece, as nervous investors fled to the safe haven of the dollar.
U.S. stock index futures fell on Wednesday as investors continued to anxiously eye the Greek sovereign debt crisis and its potential contagion.
Global commodity prices dropped Tuesday as new doubts about Europe's ability to resolve the Greek debt crisis sparked a global flight from risky investments. Crude oil and other energy contracts tumbled, a day after oil hit an 18-month high. Prices for copper and other industrial metals also fell sharply. The declines in commodities were made worse by a spike in the dollar as investors sought safe places for their money. The rising dollar tends to sap demand from foreign investors for commoditie...
A tumble in global stocks spread to Asia on Wednesday as fears heightened that Greece's debt woes could spread to other countries, which pushed the euro down to one-year lows against the dollar.
Swiss bank UBS' top managers reported a sea change in client confidence that should stem outflows of client cash by the end of this year.
Greece has signed up to a package of austerity measures designed to cut its deficit by 11 percentage points between 2009 and 2014, an aim that will deepen the recession and could spark a social backlash. The measures agreed this weekend with the EU and IMF include more tax hikes and steeper cuts in wages and bonuses, in return for a record 110 billion euro ($146.5 billion) bailout. [ID:nLDE64107I] According to the aid plan, Greece will have to save an extra 30 billion euros on top of tough measu...
With bullion analysts predicting a rise in gold prices following the European crisis and the Chinese crackdown on realty, scrap gold sales are set to shoot up. Scarp gold sales are normally up at a time when the gold prices go up as several people rush in to book profits. In April, India witnessed a surge in sales of old gold jewellery after remaining more or less tepid since the beginning of the new year. A consumer who wishes to sell old jewellery to a scrap trader is a contributor to recycled...
UBS boss Oswald Gruebel predicted moderate asset withdrawals in the short term as the Swiss bank's forecast-beating quarterly results gradually start to boost client confidence and wealth advisors' morale.