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  • Posts Tagged with ‘European Union’

    August 22, 2012 - Forex Market Report 22 August

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    It was a tough start to the week for the British pound with a double dose of bad news taking its toll on GBP. The release of Public Sector Net borrowing figures indicated that the borrowing figure for July was up to £600m. While market analysts had predicted some over-spending to occur, it was not as high as this final figure which, while not having a immediately negative effect on GBP, did see the pound drop off steadily through the day, particularly against EUR. With the European Central Bank also seen to be putting a plan in place to drasti... ( read more )

    August 13, 2012 - UK trade deficit at 15-year high

    Forex Trading TV Blog
    The UK's trade gap widened sharply in June, to its worst level since comparable records began in 1997.  The deficit, which measures how much imported goods and services exceed exports, rose to £4.3bn in June from £2.7bn in May.   The rise was driven by a 4.6% month-on-month fall in the value of UK exports to eurozone and non-European Union countries.  The deficit with non-EU nations rose to £5.2bn in June from £3.9bn in May.   Economists and analysts greeted the figures with dismay.  BNP Paribas analyst David Tinsley ... ( read more )

    Europe’s Economic Crunch: A New Golden Age?

    Forex Trading TV Blog
    Much of the economic news since 2009 has been dominated by the ongoing financial crisis in Europe. With Ireland, Italy, Spain, Portugal, and especially Greece sinking under public debt, the Eurozone is struggling, to say the least.   The Bright Side   As Greece’s debt (currently almost 170% of their gross domestic product) rises, so do the values of certain commodities, such as gold. The precious metal market has been on a steady rise all year, with prices now hitting about $1,620 per ounce (as of this writing). While the public m... ( read more )

    July 17, 2012 - IMF slashes UK economic growth forecast

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    International Monetary Fund downgrades its forecast for UK growth this year by more than any other developed nation.   The International Monetary Fund has downgraded its forecast for UK growth this year by more than any other developed nation and warned that the world economy is weakening.  The Washington-based organisation predicted on Monday that growth in the UK will all but evaporate in 2012 with a rise in GDP of just 0.2%, compared with a previous forecast of 0.8%.   The IMF said in its latest World Economic Outl... ( read more )

    July 3, 2012 - Forex Market Review – Tuesday 3rd July

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    Pressure is mounting on the Bank of England to implement further Quantitative Easing, as housing prices stagnate, and figures show that manufacturing output has contracted for the second month in a row. GBP has weakened against most of its major competitors, and with the threat of QE looming, won’t be as appealing to investors as a consequence of would be the pound’s dilution. Expectations are that easing will be increased by £50Bn to £375Bn this Thursday.   As has been commonplace over the last few months, the uncertainty in... ( read more )

    June 28, 2012 - What the Euro Zone Crisis Means for Commodities

    Forex Trading TV Blog
    With Greece’s financial devastation (with a public debt of 166% of total GDP) followed by Spain, Italy, Portugal, and Ireland’s (with debts totaling over 100% of GDP), the European Union is on the brink of an economic collapse. While fiscal organizations have instituted bailouts and rescue packages, crisis has already hit the streets. Of course, with the collapse of standard currency, many are looking to their commodity investments for hope. But which investments will hold up come economic doomsday?   Your Best Commodity Bets ... ( read more )

    June 28, 2012 - Daily FX Review :

    Forex Trading TV Blog
    The US Dollar and S&P 500 are trading around familiar ranges as financial markets wait for the outcome of the EU leaders’ summit for direction cues.   S&P 500 – Prices are retesting resistance in the 1334.40-1341.90 area after bouncing from support above 1305.90, the 38.2% Fibonacci expansion. A break higher exposes 1363.90. Alternatively, a turn through support targets the 1300 figure followed by the 50% Fib at 1288.10.   CRUDE OIL – Prices completed a bullish Piercing Line candlestick pattern above support ... ( read more )

    June 26, 2012 - Forex Market Review – Monday 26th June

    Forex Trading TV Blog
    The markets were quiet on the numbers front yesterday with little seen in the way of data releases. This didn’t, however, mean that things weren’t looking a bit volatile, thanks, as usual, to the problematic Eurozone.   Adding to Europe’s foreign currency woes yesterday, Spain officially came forward with its request for a bailout, and Cyprus appears to have gone into Red Alert, too. Whilst last night we also saw Moody’s downgrade 28 Spanish banks, Cyprus has now had its credit rating downgraded to ‘junk’ status with a ... ( read more )

    Greece Likely To Exit the EuroZone

    BERLIN (MNI) – German Finance Minister Wolfgang Schaeuble in a newspaper interview published Tuesday reaffirmed the government’s stance that joint eurobonds in the Eurozone are conceivable only once fiscal union has been achieved.   Schaeuble told the German business daily Handelsblatt that “a real fiscal union” is necessary before the idea of a joint debt management in the currency zone can be approached, stressing that such a fiscal union is a medium-term project.  On Monday, government spokesman Steffen Seibert had ... ( read more )

    EUROZONE: Cyprus To Request EU Bailout Package

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    Cyprus appears to be edging closer to a bailout, with the central bank governor saying that the country will seek European Union aid if necessary. The comments by Panicos Demetriades, made in an interview with the Financial Times, echo remarks on Friday by president Demetris Christofias.   Cyprus had previously firmly rejected suggestions of a bailout, but its banking system is exposed to Greece.  Mr Demetriades told the FT that Cyprus was at "an important crunch time".  At the end of June, the Cyprus Popular Bank faces a deadline to... ( read more )