US Dollar, Japanese Yen Up Sharply as Disappointing US NFPs Stoke Flight-to-Safety (Daily FX via Yahoo! Finance)
- Euro Down as ECB Leaves Door Open to Further Rate Cuts - Swiss Franc Gain vs. Euro Presents SNB Intervention Risks Through Friday - British Pound Falls Against US Dollar, Yen as UK Construction PMI Slips Continue Reading »
Vatican runs deficit amid economic crisis
The Vatican said Saturday it ran a deficit in 2008 as its finances and donations from across the world were hit by the global economic crisis. The Vatican posted a budget deficit for a second straight year, though the figures improved strongly from … Continue Reading »
German banks under fire for not passing on credit
Banks currently prefer to use that money to invest in foreign exchange, government bonds and shares instead of passing it on as credit,” said Finance Minister Peer Steinbrueck, a member of the centre-left Social Democrats (SPD), in an advanced … Continue Reading »
Bank of China announces yuan trade deal with HK’s HSBC (The Malaysian Insider)
BEIJING, July 4 ‘” China’s largest foreign exchange bank, the Bank of China, has reached a yuan trade settlement agreement with HSBC bank in Hong Kong, taking advantage of new rules allowing such deals. Under rules announced this week, foreign banks will be able to buy or borrow yuan from Chinese mainland lenders to settle trade in Hong Kong and Macau under a pilot scheme. The central bank chiefs … Continue Reading »
For Australian Winemakers, More Turns Out to Be Less
SYDNEY, Australia ‘” Just a few years ago, Australia was being hailed as the great international success story of the wine business, challenging the dominance of France, Italy and Spain. From 1999 to 2007, foreign sales grew more than threefold … Continue Reading »
Murray mania causes 120 m pounds worth of work loss in UK
Edinburgh (Scotland), July 4 (ANI): With around eight million viewers watching the Wimbledon semi-final between British tennis hope Andy Murray and American Andy Roddick, experts have estimated that 120 million pounds worth of man hours were lost at … Continue Reading »
US Dollar Range to Yield to Bullish Momentum Against Major Currencies (Daily FX)
The US Dollar has been consolidating in narrow ranges against the major currencies, but positioning is favoring a stronger greenback as the breakout materializes. Continue Reading »
Canada, U.S. unemployment expected to rise
OTTAWA (Reuters) - The jobless rate in Canada and the United States will continue to rise, Finance Minister Jim Flaherty said on Friday. “The unemployment rate in the United States is well over 9 percent now and it’s likely to go higher into 2010. We … Continue Reading »
Tradency Inc. Introduces ‘Mirror Trading’ Concept, Putting Leading …
NEW YORK , June 30 /PRNewswire/ — Tradency, a leader in Forex technology, today publically revealed the first-of-its kind “Mirror Trading” concept that allows traders to adopt strategies of leading Forex traders, in real time. Traders and brokers … Continue Reading »
European Stocks Decline for Third Week as Volkswagen Retreats
July 4 (Bloomberg) — European stocks dropped for a third straight week, the longest stretch of losses since March, as concern mounted that the economy won’t recover soon. Volkswagen AG slumped 6.3 percent, leading declines in automakers, after U.S … Continue Reading »