Compare Money Transfer News - November 2010
Marginal EU Date Continues To Be Under Pressure
(November 9, 2010)The concentration of global investment community remained on Europe yesterday with yields on marginal EU countries’ debt again increasing. The extent of Irish and Portuguese over Germany both striked fresh record highs as further indecision entered the market. Matters were not assisted by a meager industrial production figure from Germany that showed a significant decline. While we recognize that this data series is characteristically, pretty volatile a figure of -0.8% against an anticipation of 0.4% is a poor figure.
Eyes Switch To EU Debt Concerns
(November 8, 2010)Doubts over the health of certain EU member states’ economies are putting strain on the single currency as we shift into this week. While the majority of the focus has correctly been on the US with the midterm elections and the latest Fed pronouncement noteworthy development is seen in the EU debt picture.
Bank of England Holds Course
(November 5, 2010)Yesterday’s Bank of England discharge was as we and the consensus view hoped with the MPC deciding to persist their ‘wait and see’ strategy and not follow the Fed’s lead to initiate further quantitative easing. We suppose that this month’s voting record will be the same to the last i.e. Adam Posen voting for a £50bn blob of QE while Andrew Sentance plumping for a 25bps rate swells. We were spot on with our evaluation that the consequence would drive GBP higher and it jumped above 1.62 against the dollar and into the mid 1.14s versus the euro.
Fed Goes For $600bn
(November 4, 2010)The financial war has now overindulged! The previous night the Federal Reserve elected to thrust a further $600bn into the US economy in a final resort to maintain the healing from reducing back into recession and the deflation.
Judgement Day For Helicopter Ben
(November 3, 2010)Finally, it is the judgment time for the Fed. Ever since the Fed Chair Ben Bernanke’s speech at the Jackson Hole conference about 8 weeks ago the market has been shooting in numerous amounts of extra spur. At 18.15 GMT tonight we will come to know precisely how much is required. The market anticipation is approximately $500bn: anything lesser than that would lead to the strengthening of the dollar with equity and gold markets dipping and vice versa.
US Manufacturing Is Unable To Do The Required For Preventing QE
(November 2, 2010)Sterling had a very fine day yesterday. It was improved over the 1.154 level behind of some positive Manufacturing data which came out at 54.9 which was more than the assumed 53.3. The hopeless news came from Home track discharging their review showing that house prices have dripped and will likely persist to descend.
A Major Week For The Economy Worldwide
(November 1, 2010)This week is likely to keep our economists occupied. By the conclusion of this week, we are expected to be acquainted with the destiny of the G4 currencies (USD, EUR, GBP and JPY) as we move towards the close of 2011.