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 in U.S. government bonds over the past month, as improving economic data released after the Fed's August meeting led investors to reduce bets that the Fed will announce a new bond purchase program when it meets in September.
Meetings between Greece and key euro zone leaders will continue, with Greece's prime minister heading to Berlin to see German Chancellor Angela Merkel on Friday and French President Francois Hollande on Saturday. The PMI data release today showed that the eurozone manufacturing and service sectors contracted again in August indicating a steep slow down.
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Posted in Daily Market News on May 30 2014
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...VIEW FULL ARTICLE
Posted in Daily Market News on Aug 22 2012 by alex