Sterling has been resilient over the past 24 hours and gains could extend slightly further on a covering of short positions. Nevertheless, there is a clear risk to the UK credit rating, possibly within the next few weeks, and Sterling will be much more vulnerable if market confidence deteriorates given…
Debt And Recovery Concerns Are Surrounding The Euro Zone
April - 30 - 2010
Threats are coming from everywhere to surround the 16-nation region that is now suffering to recover and reduce budget deficit that soared to almost double the EU’s 3% ceiling. The ECB is now facing a double jeopardy to lose recovery and face non-stoppable rise in sovereign debt.
Debt And Recovery Concerns Are Surrounding The Euro Zone
April - 30 - 2010
Threats are coming from everywhere to surround the 16-nation region that is now suffering to recover and reduce budget deficit that soared to almost double the EU’s 3% ceiling. The ECB is now facing a double jeopardy to lose recovery and face non-stoppable rise in sovereign debt.
London Session Recap
April - 30 - 2010
EUR/USD has been squeezed higher back above the 1.3300 area this morning. The market is likely covering a few shorts given that the talks between the IMF/EU and ECB regarding the Greek support package are scheduled to be completed over the weekend. Given indications that the size of the loans…
London Session Recap
April - 30 - 2010
EUR/USD has been squeezed higher back above the 1.3300 area this morning. The market is likely covering a few shorts given that the talks between the IMF/EU and ECB regarding the Greek support package are scheduled to be completed over the weekend. Given indications that the size of the loans…
Agreement On Greek Bailout Package Could Spur Relief Rally
April - 30 - 2010
Greece has agreed to the outline of a 24 bln. EUR austerity package including a wage freeze for all public employees for the next 3 years, public sector employees will now only receive 12 months of pays and an added VAT will be introduced. This should slash budget deficits by…
Agreement On Greek Bailout Package Could Spur Relief Rally
April - 30 - 2010
Greece has agreed to the outline of a 24 bln. EUR austerity package including a wage freeze for all public employees for the next 3 years, public sector employees will now only receive 12 months of pays and an added VAT will be introduced. This should slash budget deficits by…
Euro Performed Only A Tepid Rebound On Easing Inta-EMU Tensions
April - 30 - 2010
Yesterday, a short-squeeze helped the euro to move away from the year lows, set after the S&P downgrade of Spain on Wednesday. However, the gains were far from spectacular. At least for now, there is no indication that the Greek rescue package will mark a U-turn for the better in…