Greek debt
Greece: Deal or No Deal?
February 6, 2012
A new week began Greek politicians still balking at the lending troika’s insistence on further austerity. Time is running out to get a deal. Stock market declines as of 18:00 GMT against this risk off backdrop have been comparatively mild. The German Dax is unchanged and the U.S. S&P 500, Dow Jones, and British Ftse [...] More
More Confusion about Where Greece Stands
November 3, 2011
News from Greece seems to change by the minute. Next week’s referendum has been put off until at least December 4. Other Europeans want it to be a simple vote on whether Greece keeps the euro or not, but specific wording remains undecided. A vote of confidence in Prime Minister Papandreou tomorrow is not a [...] More
Advent
November 2, 2011
The dollar slipped back 0.7% versus the euro, 0.5% against the Australian dollar, 0.4% relative to the yen and Swissie, 0.3% against sterling and 0.1% versus the loonie. The greenback is unchanged against the yuan and 0.2% firmer relative to the kiwi. Stocks in the Pacific Rim were widely mixed. Gains were posted of 1.9% [...] More
Remaining Focus on European Debt
September 14, 2011
Share prices recovered 1.5% in Germany, 1.4% in France, and 1.1% in Britain, aided by a smaller-than-expected one-notch downgrading of French banks by Moody’s. But regional news was not entirely good — Chinese Premier Wen scolded Europe for its fiscal difficulties and said the region shouldn’t count on a Chinese bail-out as the solution to [...] More
Greek Default Concerns
September 12, 2011
European and Asian markets experienced another extremely difficult session overnight, the focus of which was mounting speculation that aid to Greece will be halted and that Greece will then default and leave the euro zone, if not the EU. The euro got whacked, falling to its lowest yen value (JPY 103.89) since June 14, 2001 [...] More
Spotlight on Greece and China
July 4, 2011
Currency movements were limited overnight, reflecting a loss of leadership due to U.S. Independence Day closure. The dollar is 0.5% higher against the Aussie dollar and shows other gains of 0.2% relative to the Swiss franc and 0.1% versus the euro and Canadian dollar. The greenback is down 0.2% against the kiwi and sterling and [...] More
Greek Woes Depress Euro Against Dollar and Crosses
June 15, 2011
European Finance Ministers did not make progress finding a way to share the cost of a restructured Greek debt. Moody’s is reviewing the rating of three French banks that are vulnerable to such a restructuring. The dollar climbed 1.0% against the euro, 0.6% versus sterling, the kiwi, and Swiss franc, and 0.3% relative to the [...] More
Dollar Rises as Stocks Swoon to One-Month Low
May 23, 2011
The risk trade is off, boosting the dollar by 1.1% against the euro, 1.3% relative to the Australian dollar, 0.8% versus the kiwi, 0.6% against the Swiss franc, 0.5% versus sterling, 0.4% against the Canadian dollar, and 0.2% relative to the yen and yuan. The Swiss franc set a new record high of 1.2323 per [...] More
Focus Continues on Greece
May 10, 2011
Dollar movements overnight were moderately positive. The greenback advanced 0.6% against the Swiss franc, 0.4% relative to the kiwi and sterling, 0.3% versus the yen, 0.2% vis-a-vis the euro and 0.1% against the Australian dollar but fell by 0.2% against the Canadian dollar. The yuan is unchanged. Stocks have benefited from hopes that Greek debt [...] More
Euro Stabilizes
May 9, 2011
The euro had tumbled 4.2% against the dollar from its May 4 high to its May 6 low but is 0.6% above Friday’s low and 0.4% above Friday’s close. EU officials denied last week’s report in the German press that Greece may leave the common currency and are considering less stringent terms on the Greek [...] More
