Archive for June, 2010
« Previous EntriesLess Money Needed!
Wednesday, June 30th, 2010There was encouraging news overnight as the ECB said it would lend banks less than analysts had predicted, showing signs that the European banking system may not be in as weak a state as the market thinks. In addition, German unemployment changed less than expected and the unemployment rate remained steady showing signs of economic [...]
The Party’s Over!
Tuesday, June 29th, 2010This morning we are seeing a slew of consumer confidence figures coming out around the globe which are lower but largely in line with expectations. The Euro zone debt crisis is continuing to weigh heavily on the markets, and a leading economic index in China had its smallest gain in nearly 5 months, signaling that [...]
Much Ado About Nothing!
Monday, June 28th, 2010This weekend, the G-20 met to discuss global economic conditions but it looked as though they spent most of that time watching soccer. President Obama was unsuccessful in getting other nations to spend more, and the big take-away was that governments plan of reducing deficits rather than adding to them. This has given world markets [...]
Be Careful What You Wish For!
Friday, June 25th, 2010Overnight, the US Congress unexpectedly came to a deal and has agreed on bill regarding financial reform and regulation. The uncertainty surrounding this bill has been weighing on the markets, as it was unclear what the outcome might be. As news trickles out of the 2000+ page document and what it means for the banks [...]
Moderate Growth Ahead!
Thursday, June 24th, 2010Yesterday’s FOMC meeting came and went as expected, and Bernanke acknowledged that the pace of growth is going to be moderate going forward, backing off from last meeting’s stance that recovery was accelerating. Bernanke cited European debt conditions as being not supportive of growth, and of course he left interest rates unchanged as expected and [...]
Interview with a Forex Master
Wednesday, June 23rd, 2010Every once in a while, my status as a blogger gives me access to resources that otherwise might not be available to me. One such “perk” of the job is that I get to meet experts in the forex field and have an opportunity to pick their brain. One such opportunity just came about with [...]
BOE Not Unanimous!
Wednesday, June 23rd, 2010Minutes released from the Bank of England’s rate policy meeting showed that the vote was not unanimous to keep rates unchanged at .5%, for the first time in nearly 7 months. Inflation concerns were the cause of the dissenting vote, as CPI figures in the UK have been above targets. While the BOE expects inflation [...]
Budget Cuts!
Tuesday, June 22nd, 2010The British pound is lower this morning as the UK budget showed a commitment to a balanced budget and a reduction in spending of close to 30 billion pounds annually. This should come as no surprise to the market, yet the Pound is lower as the UK attempts to cut its deficit. This coincides with [...]
Yuan Gone!
Monday, June 21st, 2010In a move that the market was anticipating and hoping for, the Chinese government announced that they would loosen the peg on its currency and allowing it to float more freely. This hopefully will allow for greater balance in the global economy and help China curb inflation. However, expectations for Yuan gains fall anywhere in [...]
Scared of the Weekend?
Friday, June 18th, 2010In what has become a familiar pattern, Friday selling of risk assets heading into the weekend is taking place as the risk posed by the Euro zone debt crisis is still prevalent. In fact, various policy makers around the globe have expressed concern about the Euro zone, even as the market has been in risk-taking [...]
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