Tag Archive
Consumers Trade Down – US-FOREX.US
Cash-strapped consumers are looking to get the most bang for their buck, forcing retailers to adapt to new spending habits, says Claire Gruppo, co-founder and managing director of investment bank and M&A firm Gruppo, Levey.”People aren’t comfortable paying for brands or an experience if they don’t feel it’s worth it,” Gruppo said, “and the trend… »
The Euro Strikes Back – US-FOREX.US
The euro-zone has hit back at the dollar’s recent gains with the out-of-left-field announcement that its economy barely contracted between April and June.On Thursday the 16-member euro zone reported its gross domestic product fell by only 0.1% during the second quarter, a significant improvement from the 2.5% drop it recorded in the first. The… »
Auf Wiedersehen Recession – US-FOREX.US
It seems like exceptionally good news. Germany, Europe’s biggest economy, has just confounded expectations and emerged from its recession, thanks to reporting a quarter-on-quarter growth rate of 0.3% for the second quarter, instead of the contraction of 0.2% that was expected. A margin of five basis points is quite a difference-but don’t get too excited…. »
France Out Of Recession Into Uncertainty – US-FOREX.US
U.S. Senator Jim Bunning famously thought he had “woken up in France” when the United States government took control of mortgage finance lenders Fannie Mae and Freddie Mac last year. On Thursday, waking up in France didn’t seem like such a bad idea: The home of fine wines and luxury goods reported a surprise exit… »
Exports Rise But Trade Deficit Widens – US-FOREX.US
U.S. exports are on the rebound, but rising oil prices widened the trade deficit in June.”The global business cycle is in a state of repair and that involves trade building itself back up, even if it means a modest widening of the deficit,” said Steven Wieting, chief U.S. economist at Citigroup. The trade deficit widened… »
Chinas Recession Isnt Over July Statistics Show – US-FOREX.US
TOKYO -
The green shoots that some economists see peeking up through the recession may not be bamboo just yet. China’s economy continues to suffer, a raft of economic figures released for July reveal, but Beijing’s enormous 585 billion stimulus program seems to be catalyzing spending at home. “With the global recovery unlikely to be smooth,… »
All Quiet On The FOMC Front – US-FOREX.US
Economic improvement, nonthreatening inflation and successful quantitative easing projects should make for an uneventful Federal Open Market Committee meeting on Tuesday and Wednesday.On Tuesday, the branch of the Fed that determines policy will meet for the sixth time this year to assess the effect of its initiatives and map out the future. The central bank… »
Reality Check From The Bank Of – US-FOREX.US
Britain has recently been reveling in positive economic data that gave the impression its economy was suddenly and inexplicably on the mend. But the Bank of England smartly put a stop to all that on Thursday. The British central bank is expanding its quantitative easing program by a larger-than-expected 50 billion pounds , to further… »
Fresh Writedowns For SocGen – US-FOREX.US
Can nothing dent confidence in the banking sector? French lender Societe Generale, in stark contrast to rival BNP Paribas, said on Wednesday its second-quarter profits had halved over the year, thanks to pre-announced losses on credit default swaps and derivatives. But the balance was tipped in favor of strong investment banking results, continuing the industry… »
Savings And Income Decline – US-FOREX.US
Americans are strapped for cash, as personal income flattened in June while gas prices rose, further tightening the grip many individuals and families feel from mortgage payments, credit card bills and a weak labor market.The lift in May income from the one-time Social Security stimulus payments has long past and personal income fell to 1.3%… »