euro debt crisis
Considerable Quantity of New Data to Absorb
December 15, 2011
At the quarterly monetary policy review, the Swiss National Bank did not adopt a weaker franc/euro ceiling rate but instead retained the 1.2000 level, which has been policy since September 6. The franc as a result is today’s strongest currency, rising 1.0% against the dollar. SNB officials also retained a zero-0.25% target range for three-month […] More
A Sense of No Hope for the Euro
November 25, 2011
Investors are betting that European and U.S. politicians have no more tricks up their sleeve. Fitch downgraded Portuguese debt, and Moody’s did the same for Hungarian debt. ECB officials aren’t budging on their insistence that fiscal policymakers, not they, must solve the euro crisis. Portuguese street protests against budget cuts persist. The euro lost another […] More
Europe Burning… and Draghi No Help
November 18, 2011
Although the dollar has given back some gains, stock markets in Asia and Europe tell the story of a euro debt crisis that’s still raging and threatening to drag the rest of the world down with it. The dollar fell overnight by 0.7% against the Swissie, 0.5% versus sterling, 0.4% relative to the euro, 0.3% […] More
Conflicting Headlines Out of Europe Have Dollar and Stocks Both Weaker
October 20, 2011
Usually, but not so far today, the dollar and equities have moved inversely. Headlines covering euro debt crisis talks have been all over the map. German Chancellor Merkel and French President Sarkozy still cannot agree on how to lever the EFSF bailout fund upward to more than EUR 1 billion. Sarkozy left talks abruptly without […] More
