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Daily Archives: May 5, 2011
Europe’s Debt Dissected
Public deficit data for 2010 indicates that if growth in the European Union returns to trend, the deficit will be 2.5ppt too high to stabilise the debt-to-GDP ratio, meaning public finances are unsustainable without fiscal tightening. While countries such as Finland and Germany are on relatively safe ground, France, Greece, Portugal, Spain and the UK require a severe adjustment that could hurt growth for years. Then there’s Ireland, which is 23.5ppt away from stabilising its debt-to-GDP ratio. Continue reading
Posted in Market Snapshot
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EUR/USD: Portugal bailout details boost Euro
For the 24 hours to 23:00 GMT, EUR rose 0.03% against the USD and closed at 1.4829. The EUR gained, as investors welcomed the €78 billion (£70 billion) bailout agreed for Portugal on Tuesday night, with hope that the deal … Continue reading
Posted in EUR/USD
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GBP/USD: GBP/USD rises further, approaches 1.6520
For the 24 hours to 23:00 GMT, GBP rose 0.07% against the USD and closed at 1.6496. In the UK, the M4 money supply declined by 1.1% (Y-o-Y) in March, compared to a revised 1.4% decline posted in February. The … Continue reading
Posted in GBP/USD
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USD/JPY: Yen Continues to trade higher in Asian session
For the 24 hours to 23:00 GMT, USD weakened 0.48% against the JPY and closed at 80.63, following release of weaker-than-expected employment data in the US and an unexpected fall in the US non-manufacturing PMI. In the US, Automatic Data … Continue reading
Posted in USD/JPY
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USD/CHF: Swissy trading higher this morning
For the 24 hours to 23:00 GMT, USD declined 0.07% against the CHF and closed at 0.8611, amid ongoing speculation that Switzerland’s central bank might raise interest rates to maintain price stability. In the Asian session, at 3:00GMT, the pair … Continue reading
Posted in USD/CHF
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USD/CAD: Loonie trading lower, as commodity prices retreated
For the 24 hours to 23:00 GMT, USD rose 0.58% against the CAD to close at 0.9581, as commodity prices declined. In the US, the Dallas Federal Reserve Bank President Richard Fisher stated that he expects to argue for a … Continue reading
Posted in USD/CAD
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AUD/USD: Aussie trading lower on economic data
For the 24 hours to 23:00 GMT, AUD weakened 0.88% against the USD to close at 1.0752. Australian dollar remained under pressure, on speculation that the Australian policy makers would maintain their interest rates till the end of third quarter, … Continue reading
Posted in AUD/USD
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Gold: Yellow metal extended losses
Gold prices traded lower by 1.17% against the USD in the 24 hour period ending 23:00GMT, at 1,517.95 per ounce. In the Asian session at 3:00GMT, gold is trading at USD 1,517.13 per ounce, 0.05% lower from 23:00GMT. The pair … Continue reading
Posted in Gold
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Silver: Tracking overnight losses in New York session
Silver prices declined 4.60% to USD 39.24 per ounce during the 24 hours ending 23:00GMT, as speculators continued to leave long positions following hike in trading requirements by CME Group, the Comex operator, early this week. In the Asian session … Continue reading
Posted in Silver
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Crude Oil: Oil slides as US crude reserves jump
Oil prices declined 1.81% against the USD for the 24 hour period ending 23:00GMT, closing at 108.63. In the US, the Energy Information Administration, reported that the crude oil inventories increased by 3.40 million barrels to 366.50 million barrels last … Continue reading
Posted in Crude Oil
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