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UK Inflation Jumps to 4.4%
From Market Pulse FX, 9 month ago, Read 0 times. Similar articles
The Consumer Prices Index (CPI) used by the UK to measure inflation, rose from 4.2 percent in June to 4.4 percent in July. This forced Bank of England Governor Mervyn King to once again provide a letter to the Chancellor of the Exchequer to explain why inflation continues to exceed the 2 percent target. In the letter, King referenced an increase in the value-added tax as well as higher energy costs as the underlying reasons.
Source: BBC News
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JPMorgan Records $3.3 Billion 4th Quarter Profit
From Market Pulse FX, 2 year ago, Read 0 times. Similar articles
JPMorgan released its year-end results showing that the investment firm earned a profit of $3.28 billion in the final quarter of 2009. For the full year, JPMorgan registered $11.7 billion in operating profit.
Associated Press
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US Inflation Registers Slight Increase
From Market Pulse FX, 2 year ago, Read 0 times. Similar articles
The US Labor Department said today that the Consumer Price Index (CPI) rose only 0.1 percent in December. Despite the slight increase in CPI, spending still remains muted as many families continue to struggle with unemployment and rising energy costs and this has had a dampening effect on the recovery.
Associated Press
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PIIGS hurt EUR
From Market Pulse FX, 2 year ago, Read 0 times. Similar articles
Are we missing the big picture' How come markets seem to be trading as if the global risks to economic recovery have been dealt with' Our savior, China is even taking steps to slow things down by hiking Bill rates and increasing reserve requirements. Europe is a mess. A dovish Trichet yesterday said that Greece would not receive any special treatment. German Chancellor Merkel said Greece's deficit ?may hurt the EUR'. In reality, the ?PIIGS' (Portugal, Ireland, Italy Greece and Spain) fiasco...
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CFTC Wants to Reduce Energy Speculation
From Market Pulse FX, 2 year ago, Read 0 times. Similar articles
The Commodity Futures Trading Commission (CFTC) announced a plan that would see limits placed on those speculating in energy futures including oil, natural gas, and heating fuels. The proposal would allow exemptions for commodity-dependent business such as airlines and transit companies that use futures contracts to hedge costs.
Bloomberg
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Obama Proposes Financial Crisis Responsibility Fee
From Market Pulse FX, 2 year ago, Read 0 times. Similar articles
The cat is out of the bag on the worst-kept secret on Wall Street as US President Barack Obama announced his proposal calling for the imposition of a tax on America's fifty largest banks. The Financial Crisis Responsibility Fee is intended to recover taxpayer money provided to the nation's largest banks and if approved by Congress, is expected to be in place by the end of June.
Full details will not be available until the next budget update for Congress due in February, but the goal of the...
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US Retail Sales Fall 3% in December
From Market Pulse FX, 2 year ago, Read 0 times. Similar articles
Despite predictions of a 0.5 percent increase in retail sales for December, actual results indicate a 0.3 percent decline from November and is especially disappointing as the holiday season usually marks the strongest sales period of the year.
“Retail sales unexpectedly fell in December on broad-based weakness, suggesting holiday spending did not live up to early reports,” said Scott Hoyt at Moody’s Economy.com.
AFP News
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New US Jobless Claims More than Estimated
From Market Pulse FX, 2 year ago, Read 0 times. Similar articles
The US Labor Department announced today that a total of 444,000 new jobless claims were made last week. This is an increase of 11,000 over the previous week and is far more than the 3,000 increase expected by analysts.
The increase was partially due to the laying-off of seasonal workers in the retails, manufacturing, and construction sectors and is typically one of the worst employment weeks of the year.
Associated Press
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Property Prices in China Continue to Rise
From Market Pulse FX, 2 year ago, Read 0 times. Similar articles
Property prices in China rose at an annual rate of 7.8 percent in December compared to 5.7 percent in November. This is the fastest rate of growth in 18 months, adding further to fears that a housing bubble-fueled state of inflation is inevitable.
Fitch Ratings addressed this concern in a recent evaluation of China’s economy:
“Fitch is concerned about an eventual deterioration in banks’ asset quality, amid the loan growth acceleration in 2009. High investment spending,...
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US Bank Tax Details Expected Today
From Market Pulse FX, 2 year ago, Read 0 times. Similar articles
President Barack Obama will reveal details later today for a new tax to be charged to banks that received bail-out money from US taxpayers. The tax, described by officials as a “financial crisis responsibility fee”, would be imposed over 10 years and is expected to generate $90 billion,
BBC News
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Trichet and ECB remain predictable
From Market Pulse FX, 2 year ago, Read 0 times. Similar articles
European Central Bank
A plethora of data this morning as the market waits for the expected rate announcement from Trichet (+1%). ?They are to remain at a record low to boost the economy', a parrot could be more interesting, but that is the nature of the ECB. Their currency had a wild ride yesterday. Initially, with the dollar under pressure, technical analysts were salivating as the EUR threatened to breach that 1.4580/90 benchmark. However, the Greeks saved the dollars day. Again, and an old...
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