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Archive for February, 2012

Irish Set to Vote on EU Treaty

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It was announced today that in the coming weeks the Irish Parliament will take a critical vote regarding the new European Union budget-discipline treaty. As is law in Ireland, the countries constitution requires a national referendum before the parliament can ratify any treaty with potentially far reaching effects.   In early polls and surveys, it is expected that the majority of Irish voters will vote against the new treaty. The primary reason for the no-vote is the clause in the treaty calling for increased integration of fiscal p... ( read more )

Greece slapped with another downgrade

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Greece continued it's hits from economic credit rating agencies yesterday after it received another downgrade following the debt bailout package agreed in Brussels last week. Greece is facing tougher times as each day arrives with consumer and market confidence waning. Even recently passed austerity measures and debt restructuring appears to be failing in its mission to allay the fears of investors.   Yesterdays downgrade to ‘selective default’ arrives after the markets learned of a request by the Greek government for debt credit... ( read more )

Dow Jones Hits 4 Year High

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In America the Dow Jones hit a record high for the last 4 years. Not only the Dow Jones but also the S&P 500 hit highs not seen since before the stock market collapse of 2008. The Dow closed over the perception threshold of 13,000.   Analysts report that the most significant reason for strong buying positions taken by the market was the Consumer Confidence report released in the morning that highlighted that Americans are increasingly confidence that the economy is on the right path. In Asia, stocks also showed impressive gains ... ( read more )

Gold Prices Continue to Rise

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  Gold inched higher on Tuesday after two sessions of straight losses, ahead of a major cash injection by the European Central Bank expected later this week, and a weaker dollar lent support.   Gold prices climbed about 3 percent last week, as the Greece bailout deal and expectations of more monetary easing by key economies inspired gold bugs, but the momentum fizzled after gold hit a three-month high and failed to breach a key technical level.   The expectations of another batch of three-year, ultra-cheap loans o... ( read more )

Crude Oil Weakens Slightly Abating Few Fears

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Brent crude oil prices continued to fall back slightly today to a price slightly below the recent high of $124 The fallback was welcomed by traders and political leaders alike as the recent surge in prices not only threatens to damage chances of a strong global economic recovery but also has significant political repercussions in a tense middle east.   With Crude Oil having risen by over 11% in February alone the strains on all financial markets has become reality with growing fears of a more damaging recession than that experienced... ( read more )