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  • Posts Tagged with ‘Mario Draghi’

    July 9, 2012 - Forex Market Review – Monday 9th July

    Forex Trading TV Blog
    In Europe last week, we saw the European Central Bank cut its Interest Rates to all time lows of 0.75% (from 1.00%). This may be seen as a positive step in the right direction for EUR, although comments made by ECB President, Mario Draghi, last week revealed that he is unimpressed with the euro’s condition. This means EUR is sitting at a three and a half year low against GBP, and a two and a half year low against USD. It appears as if resolutions on joint debt liability and pro-growth strategies are the only way forward for the Common Currenc... ( read more )

    EUR Weakness Returning with Spain to Blame

    Forex Trading TV Blog
    The most-accurate foreign-exchange forecasters say the euro will slide as austerity-driven spending cuts from Spain to Italy reignite debt turmoil and drag the region into recession.   Nick Bennenbroek, head of currency strategy at Wells Fargo & Co., who topped the list for the fourth time out of the past six quarters according to data compiled by Bloomberg, expects the euro to drop more than 5 percent to $1.24 at the end of 2012. Westpac Banking Corp., which had the second-lowest margin of error, predicts $1.26.   ... ( read more )

    Lloyds Bank Borrows €13.5bn from the ECB (European Cen...

    Forex Trading TV Blog
    UK Banks yesterday registered interest in purchasing over £800 billion in low cost loans from the ECB (European Central Bank) in order to secure a protective risk measure for European financial institutions.   This is the second round of low cost 3 year loans issued by the ECB in the last 3 months with over €489bn lent to over 500 European banks in December last year. This taking the total lent to over 1 Trillion Euros. Whilst the amount somewhat shocked analysts the offer was immediately taken up by some of the UK's leading banks... ( read more )