EU summit

A Hopeful Investor Mood

March 14, 2013

European equities rose to their best levels since June 2008, emboldened ahead of a two-day summit of EU leaders in Brussels and by evidence of U.S. economic resilience in the face of fiscal spending cuts. There have been a slew of central bank interest rate announcements. The Reserve Bank of New Zealand retained a record […] More

Anxiety Surrounding Summit of EU Leaders in Brussels

October 18, 2012

The dollar strengthened 0.4% against the yen but weakened 0.2% relative to the yuan.  Otherwise, the greenback is unchanged from the close on Wednesday against the Swiss franc, kiwi, sterling and loonie.  It is up 0.1% against the euro but down 0.1% versus the Australian dollar. As EU leaders gather for a two-day summit in […] More

Newfound Hope from the Brussels EU Summit

June 29, 2012

Markets responded positively to verbal progress on a number of fronts such as an EU growth pact of EUR 120 billion, ECB involvement in EU bank supervision, and better terms for recapitalizing Spanish banks.  We’ve seen this before, that is a pretense of greater cohesion at a big meeting, followed by a market rally, followed […] More

Investors Worried about Europe and China

June 25, 2012

The last week of June started on a down note, with softer share prices, bond yields, European currencies and oil prices.  There have been few data releases so far this Monday, but three U.S. indicators are scheduled. Press reports over the weekend claim that China’s economy has slowed more abruptly than official data imply.  According […] More

Firmer Dollar as EU Leaders Meet in Brussels

March 2, 2012

The dollar strengthened overnight by 0.6% against the kiwi, 0.5% relative to the yen and euro, 0.4% against the Swiss franc, 0.3% versus the Aussie dollar, 0.2% against sterling and 0.1% versus the Canadian dollar.  The yuan is steady.  Dollar/yen has advanced for four straight weeks. Stocks rose in Asia but are marginally softer in […] More

Firmer Yen Ahead of ECB and Bank of England Decisions

December 8, 2011

Analysts are projecting a likely ECB rate cut at 12:45 GMT.  Just in from the Bank of England is confirmation of no change in its monetary policy settings of a 0.5% Bank Rate and a GBP 275 billion ceiling on asset buying. There have been some bad vibrations out of Brussels, suggesting continuing disagreement over […] More

Hoping for Strong Action at EU Summit

December 5, 2011

Markets for now are giving the benefit of the doubt to an agreement at week’s end by European politicians to take stronger action to save the euro. Equities are 1.1% firmer in Paris and show gains of 0.5% in Germany and Great Britain.  In the Pacific Rim, share prices were mixed, with declines of 1.4% […] More

E-Day

October 26, 2011

Results from today’s summit in Brussels of Euroland leaders are not expected until very late.  The summit is seen as a do-or-die moment for the common currency.  Even if officials managed to agree to more than investors anticipate, cynicism remains high that things will still fall apart in the future. The dollar rose 1.1% against […] More

Expecting EU Leaders to Present Another Fudge

July 21, 2011

Markets had been hopeful earlier this week that EU leaders might find a way to stop the prolonged euro debt crisis.  On this D-day, it seems that investors are braced for disappointment. The German Dax and Paris Cac are down 0.9%, and the British Ftse has lost 0.8%. The euro has lost 0.4% against the […] More

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