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Facing Facts: Greek Default Inevitable
From Market Pulse FX, 4 month ago, Read 0 times. Similar articles
Publically, Eurozone officials continue to pledge their full support for Greece and refuse to acknowledge the possibility that Greece may never be in a position to repay its debt obligations. Private conversations, however, likely take on a much different tone.
The markets certainly have little faith in Greece's ability to survive as a solvent entity. The current yield on 2-year Greek bonds is rapidly approaching 50 percent which is hardly a vote of confidence. For many, the focus at this point...
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Bernanke Calls Unemployment ?National Crisis'
From Market Pulse FX, 4 month ago, Read 0 times. Similar articles
Federal Reserve Chairman Ben Bernanke referred to the U.S. unemployment situation as a “national crisis” in a speech in Cleveland yesterday.
?This unemployment situation we have, the jobs situation, is really a national crisis,? Bernanke said in response to questions after a speech yesterday in Cleveland. ?We've had close to 10 percent unemployment now for a number of years and, of the people who are unemployed, about 45 percent have been unemployed for six months or more. This is...
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German Parliament Approves Bailout Fund
From Market Pulse FX, 4 month ago, Read 0 times. Similar articles
The tight vote expected in the German Parliament over the question of supporting an expansion of the European Union bailout fund never materialized. A large majority voted in favor of the bill which was also seen as a strong endorsement of Chancellor Angela Merkel’s continued influence on the ruling coalition. The next test will take place Friday when Germany’s Upper House must register its approval but it is expected to pass without issue.
All 17 countries that use the euro must...
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Forget EURO EFSF Issues, It's Quarter-End Pricing
From Market Pulse FX, 4 month ago, Read 0 times. Similar articles
Despite the toing and froing of austerity ideas and Greek sovereign debt solution suggestions, the market remains in a defined range as dealers execute month and quarter end-demand requirements. It can be the silly season for price action, and trying to complete it in this politically and economically charged environment may come at a price. Liquidity remains a premium, as dealers try to end this exhausting month above water.
Now that Germany has handily passed the EFSF ratification (523 vs....
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Canadian Home Prices Higher in July
From Market Pulse FX, 4 month ago, Read 0 times. Similar articles
Canada's housing market continued to expand in July marking the eighth straight monthly price increase. According to the Teranet-National Bank House Price Index, across the country prices rose 1.3 percent for the month to reach a new high on the index.
The Teranet-National Bank House Index measures monthly price changes on single-family homes based on data from Vancouver, Calgary, Toronto, Ottawa, Montreal, and Halifax. Taking into consideration the latest property sales data from these six...
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U.S. Business Spending Higher in August
From Market Pulse FX, 4 month ago, Read 0 times. Similar articles
It is estimated that American businesses continue to maintain $2 trillion in reserve cash but remain reluctant to use this money to expand operations and hire more workers on fears that another recession is looming. In July, business expenditures as tracked by non-defense capital goods orders, declined 0.2 percent – for August, this category recorded a 1.1 percent increase in spending.
This increase is seen as an indication that businesses feel the likelihood of another recession in the...
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EURO's Left Hand Side the Most Vulnerable'
From Market Pulse FX, 4 month ago, Read 0 times. Similar articles
Risk sentiment remains vulnerable to headlines out of Europe. EC President Barroso ?State of the Union' has done little to garner stronger EUR support this morning. European policy makers continue to find it difficult to agree and remain split over the terms of Greece’s second bailout, with about 7 members arguing for greater private sector write-downs.
Month-end and quarter-end trading has seen the JPY benefit outright and against the EUR as Japanese exports go about repatriating some...
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U.S. Home Prices Likely Declined in July
From Market Pulse FX, 4 month ago, Read 0 times. Similar articles
The S&P/Case-Shiller index of property values in 20 cities fell 4.4 percent from July 2010 suggesting that property prices likely fell during the month. This would be the 10th consecutive year-to-year drop demonstrating the continuing weakness in the U.S. economy.
?The risks are on the downside for U.S. home prices given the overhang of unsold homes and the weakness in the labor market,? said Sal Guatieri, a senior economist at BMO Capital Markets in Toronto. ?Foreclosure rates remain...
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Global Stock Exchanges on Track for 2nd Day of Gains
From Market Pulse FX, 4 month ago, Read 0 times. Similar articles
Stock markets are poised for another day of gains as Eurozone officials close in on a deal to protect European banks in the ongoing debt crisis. Gold prices also rose following a two-day sell-off that saw the gold drop below $1,600 an ounce.
Despite the optimism that a comprehensive arrangement is close to completion for the Eurozone, markets are expected to remain volatile in the short-term.
Source: Reuters
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Traders know leverage. Do EURO Policy makers'
From Market Pulse FX, 4 month ago, Read 0 times. Similar articles
It no wonder investor confidence is at such low levels when you have to interpret irresponsible politicking as well. It seems that Euro finance ministers cannot whistle to the same tune. There has been talk about leveraging EFSF monies to significantly boost the programs firepower. That reality would be opening a new debate on a new expansion without the previous EFSF program being completed.
Policymakers are believed to be working on a three-pronged plan to ?ring fence the euro crisis around...
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