The euro is hovering against the dollar as the market grew nervous whether the U.S. Federal Reserve chief will indicate the possibility of imminent monetary stimulus later in the day. Currency moves were limited as investors were reluctant to place bets ahead of key events, which also include a European Central Bank policy meeting, U.S. August jobs report and Fed [...]
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German Unemployment figures headline the economic calendar in European hours. A rise in the number of unemployed would confirm a slowdown in growth. More closely watched however will be the Italian 5-year and 10-year bond auction today at around 10:00am as it is a key test for the recent trend of lower yields due to [...]
Americans are feeling worse about the economy than they have in a long time. Despite the improved US housing market, which was seen as the trigger for the recession, registered its first gain in house prices for almost two years in June. The confidence among US consumers fell to the lowest level in August this [...]
Business in Britain’s service sector shrank between June and August and confidence dwindled as firms reported a lack of demand, the Confederation of British Industry (CBI) reported, suggesting that any recovery from recession will be long and arduous. Furthermore revised economic data on Friday revealed worrying underlying trends with a large [...]
Eurozone services and manufacturing output contracted for the seventh consecutive month adding to signs of a deepening economic slump across the region. Though the pace of contraction in manufacturing eased, mostly driven by improvements in Germany and France, there was a noticeable deterioration across the rest of the eurozone. This release is consistent with the eurozone [...]
Despite recent signs of progress in the US economy the Federal Reserve’s August meeting showed that the U.S. central bank was willing to launch further monetary stimulus fairly soon to support the economy. The news pushed the dollar to a two month low versus a broader basket of currencies.
The release comes after a dramatic selloff [...]
After months of political deadlock and two general elections earlier this year, Greece is struggling to meet the economic targets it has accepted as a condition of its bailouts. As Greece’s Prime Minister, Antonis Samaras, has called for more time to implement tough spending cuts and reforms, ahead of talks on its bailout.
Jean-Claude Junker, the [...]
The focus today will be on the UK public sector debt figures for July due this morning. The public finances have not gone to plan so far in this fiscal year with the level of debt being higher every month compared to the previous year. July is a key month for corporation tax receipts [...]
The euro rose against the dollar, extending a gain from last week, demonstrating an optimism that the European leaders meeting this week will signal support for Greece and outline fresh measures to combat the region’s debt crisis.
Further, positive news for the eurozone came as exports rose for the second month in June, driven by [...]
German Chancellor Angela Merkel added to the public support seen recently from other EU leaders as she backed ECB moves to help reduce the borrowing costs for indebted eurozone countries. She called for swift fiscal policy integration, stating that time was running short. Merkel has been under growing pressure to ease bailout terms to stop [...]