British Economic Outlook Bleak
British economic growth figures so far this year have been revised lower and 2011 may see a sharper slowdown due to government spending cuts, with the Bank of England also increasingly worried about high levels of inflation due to higher fuel [...]
Euro Plunges to All Time Exchange Rate Low
The euro has dropped to an all-time low against the Swiss franc this morning as traders looked for more aggressive solutions from European leaders to the euro zone’s debt problems. Irish debt was downgraded 5 points last week by the credit [...]
UK Unemployment Higher than Expected – Pound Slumps
Jobless claims in Britain rose for the first time in six months surprising analysts and raising doubts about the economy’s resilience before big public spending cuts next year.
The Office for National Statistics said the number of people [...]
Bank of England Hold Rates, Irish Debt Downgraded
The dollar edged up again today benefitting from the resurgence in risk aversion, U.S. Treasury yields have jumped considerably this week, the euro has continued to slip after ratings agency Fitch downgraded Ireland’s sovereign debt again.
Fitch [...]
Euro Continues to Weaken
European finance ministers will be meeting this week to announce the gravity of an Irish bailout and decide upon a long term strategy to re-assure the foreign exchange markets and provoke long term stability.
The euro dropped below support yesterday [...]
Non Farm Friday Volatility Expected
Non farm payrolls released later today will promote additional volatility. The global economy relies on North American growth and the state of the American economy can be gauged by the number of payrolls issued.
The pound has managed a slight [...]
Support Holds On Cable
Sterling held near two-month highs on the euro during Asian trade as concerns about euro zone peripheral debt continued to worry investors while it made modest gains on the dollar ahead of key manufacturing sector data. Support has held after [...]
