Despite disappointing auction results in France, the downgrade hangovers (sell the rumor, buy the news?), and increasingly likely Greek PSI talk epic-fail, most European sovereigns are rallying modestly on the day. Given the expected shift in the AAA benchmark used for margining (dropping higher… read full news Published: Tue, 17 Jan 2012 00:49
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Daily Archives: January 16, 2012
Oil minister: Saudi Arabia can make up for Iranian crude
Saudi Arabia can make up for any loss of crude oil production if sanctions are placed on Iran, the country’s oil minister told CNN in an exclusive interview set to air Monday. “I believe we can easily get up to 11.4, 11.8 (million barrels a day) almost immediately, in a few days, because all...
Greece dispatches officials to U.S., default fears grow
Greece sent senior officials to Washington on Monday for meetings with the International Monetary Fund as it raced against the clock to break a deadlock in debt swap talks that has prompted new fears of an unruly default. Barely a month after an injection of bailout funds helped avert bankruptcy,… read full news Published:...
From now on, in Europe, everything gets worse
A nightmare for France, Italy and Spain. A godsend for far-right nationalist parties across Europe. As the result of the Friday the 13th downgrades, everything gets much more difficult. The slow-motion train crash of economic and monetary union (EMU) has suddenly speeded up. The place in the film… read full news Published: Mon, 16...
Tadawul FX Closes Record Year for 2011
In a climate of financial turmoil, the Forex trading industry has continued to grow both in size and volume and at the end of 2011, Tadawul FX is looking at the results of what was a very productive and exciting year for the company. The record year saw an 81% increase in trader numbers,...
Canadian New Motor Vehicle Sales
The number of new motor vehicles sold in November decreased 1.0% to 137,640 units, partially offsetting gains registered in September and October. Sales fell for both trucks and passenger cars. Preliminary industry data indicate that the number of new motor vehicles sold in December decreased 3%. … read full news Published: Mon, 16 Jan...
EUR move Exaggerated?
The market needs an extended break to digest what was dumped on her late Friday and Martin Luther King Day in the US gives us that opportunity. The decision by S&P to downgrade the sovereign ratings of nine euro-zone nations continues to weight on risk sentiment across all asset classes. Thus far,… read full...
EUR/JPY To Extend Downtrend To 88.93
The powerful EUR/JPY downtrend remains on course for the 88.93/89.50 support cluster, as the 100.00 level has been decisively broken. Friday’s bearish outside day reversal has extended into fresh eleven-year lows, and the bear wave from the April 2011 lower reaction high at 123.33 is sub-dividing… read full news Published: Mon, 16 Jan 2012...
Italy-France-Germany summit in Rome postponed-German embassy
A meeting between Italian Prime Minister Mario Monti, French President Nicolas Sarkozy and German Chancellor Angela Merkel planned on January 20 in Rome has been postponed and will probably be held at the end of February, the German embassy in Rome said on Monday. “The planned three-way summit o… read full news Published: Mon,...