Spain is officially back in Recession
Spain is officially in a state of recession according to today’s released GDP figures; the figures for the last quarter came in at -0.3 prompting fears that the country will need another bailout in the region of €120 billion.
The news came [...]
Doom and Gloom in the World Economy – The week of April 23rd-27th 2012
In recent times business headlines have been dominated by distress, chaos, and disaster. Terms such as ‘Eurozone debt crisis’, ‘Financial Meltdown’, and ‘Global Financial Crisis Two’ – yes we are currently playing out the sequel [...]
Sterling to Euro Exchange Rate and Pound to US Dollar Exchange Rate Reach New 2012 Highs
Sterling managed to force the Euro exchange rate up even higher last night, and the elusive 1.2300 was almost breached. The Pound also stretched the upper limit of the GBP/USD exchange rate a little further as Consumer Confidence achieved its [...]
European Leaders Finally Turn to Growth as Austerity Measures Prove Crippling
Italian Prime Minister Mario Monti joined the European Central Bank in a call to arms aimed at promoting growth in order to kick-start a revival movement in the Eurozone. EU leaders have woken up to the fact that budget savings alone are prolonging [...]
UK Economy falls into double-dip recession during the beginning of 2012 | Strong Sterling currency forecasts put on hold | Pound exchange rate slides back down
Following the news that the UK economy contracted by -0.2% in the first 3 months of 2012, strong Sterling currency forecasts were halted and the Pound lost out to its major rivals, as investors were spooked by the headline of a double-dip recession [...]
Britain enters double dip recession
News released earlier today has shown that the UK is officially in a state of recession sparking a sharp decline in the Pound.
The news means that Britain is facing its first double dip recession since the 1970’s.
The shock news comes after [...]
Sterling exchange rate remains high against many currencies
The Pound has risen to a 20-month high against the Euro and reached a six month high versus the US dollar. The pound remains a popular alternative to the troubled Euro and is expected to receive more gains.
The rise comes after a week of positive [...]
EU fiscal plan claims another political victim
The Dutch Prime Minister Mark Rutte has formally offered his cabinet’s resignation to Queen Beatrix sparking political uncertainty in the Netherlands and uncertainty throughout the Eurozone.
The resignation comes after a disagreement between [...]
Sterling Exchange Rate Forecasts Boosted By Strong Retail Sales
Strong Retail Sales figures have helped Sterling in its ascendency this week. UK Retail sales grew by the most in over a year in March as the unusually warm weather boosted clothing and gardening sales. The oil price hikes that gave rise to [...]
Spanish Debt Auction Goes Smoothly
Spain managed to sell 2.54 billion Euros worth of 2-year and 10-year debt certificates this morning. The auction has been viewed as a success seeing as yields remained below the crucial 6% level and the bid-to-cover ratio increased from last [...]
