Category Archives: Currency

Elections May Rattle Currency Markets –

Elections in France and Greece may impact the Euro in the near term.  France elected Francois Hollande of the Socialist party by a slim margin over President Nicholas Sarkozy.  Hollande is not expected to support austerity measures.  Hollande is the first … Continue reading

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Euro Falls –

The Euro fell to almost $1.31 after indications that the economy for the Euro region contracted.  The Australian and Canadien dollars both declined against the U.S. Dollar.  In addition, the Norwegian Krone dropped 1.6 percent to 5.706. To read a related … Continue reading

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Gold & Silver Rally –

Gold hit a three month high rising $13.50 and settled at $1,788.40 an ounce.  Silver also rallied to settle at $37.14 an ounce which was an increase of 4.6%.  In addition, copper and platinum  increased with copper rising .8% to $3.91 a pound and … Continue reading

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Germany Votes For Greek Bailout –

Germany voted to support a second Greek bailout of approximately $174 billion.  The Finland parliament is expected to vote on the Greek bailout this week.  Also, European leaders will discuss the Euro zone bailout fund at their next meeting in … Continue reading

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Greece Agrees To Bailout –

Greek leaders agreed to terms for a second bailout of approximately $172 billion dollars.  The Greek parliament stills need to ratify the agreement as well as major reductions in spending.  European Union finance ministers would than have to provide final approval for … Continue reading

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Euro Trades Lower –

The European debt crisis has forced the Euro lower in trading over the last few months.  Recent weeks have shown a steeper decline as recessionary concerns mounted and the debt crisis remained unresolved.  The Euro fell below $1.27 in Friday trading before … Continue reading

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Treasuries Fall –

Treasuries fell as prospects improved for the U.S. economy in 2012.  This marked the first decline for Treasuries in four days.  Ten year yields rose dlightly in trading to 1.91%.  Ten year yields fell to as low as 1.67% on September 23rd. … Continue reading

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Fitch May Downgrade France –

Fitch Ratings indicated that they may downgrade the sovereign debt of seven European nations.  France is one of the European nations facing a downgrade from Fitch.  The six other nations are Belgium, Cyprus, Ireland, Italy, Slovenia, and Spain. To read a related … Continue reading

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Bernanke Meets With Republican Senators –

On Wednesday, Federal Reserve Chairman Ben Bernanke met with Republican Senators to discuss the European Union sovereign debt crisis.  According to GOP Senators, Bernanke indicated that the European debt crisis could significantly impact the American economy.  The Euro fell below $1.30 in … Continue reading

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Euro Trades Lower –

 The Euro fell on news that Moody’s is considering a downgrade of European Union sovereign debt.  The inability to end the debt crisis is one factor in the Moody’s decision.  In currency trading, the Euro fell to $1.3184 which is the lowest mark … Continue reading

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Eurozone Leaders Reach Agreement –

European leaders reached an agreement on centralized fiscal policy.  The agreement is supported by all 17 euro zone countries as well as the 9 countries seeking to join the union.  England did not approve the fiscal plan.  Stock markets reacted positively … Continue reading

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Asia Markets Fall; Gold Rises –

Stock markets across Asia fell with Japan’s Nikkei dropping 1.6% and Korea’s Kospi Composite falling 1.9%.  New Zealand and Australian markets were also lower in trading.  European debt crisis concerns were the driving force in the markets.  The Euro fell to $1.3345 … Continue reading

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Data Sends Crude Oil Lower –

European and Chinese manufacturing numbers came in weak and that helped to send crude oil lower.  Crude oil settled at slightly higher than $100 dollars a barrel on Thursday.  This is the first time since February 2009 that Chinese manufacturing has … Continue reading

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Euro Falls On Debt Yields –

Yields for European sovereign debt continue to drive the Euro lower in trading.  The Euro fell against most major currencies and settled at $1.3525.  In trading against the Yen, the Euro fell to 104 Yen and had the biggest weekly drop since late … Continue reading

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Oil Climbs Over $100 –

Oil climbed over $100 a barrel in early trading on Wednesday for the first time since July 26th.  Oil has risen on positive economic figures such as industrial production and October retail sales.  However, the strength of the Dollar may … Continue reading

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