Greek debt
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
Greek Debt Fear Receding As EU Seen Moving Toward a Bail-Out
February 10, 2010
The dollar is narrowly mixed, with gains of 0.4% against sterling and 0.2% relative to the Australian and New Zealand dollars but drops of 0.3% against the Canadian dollar and 0.1% versus the Swiss franc. Dollar/yen and Euro/dollar are steady. Bini Smaghi of the ECB said the euro has weathered the crisis. Stocks in the […] More
Market Contagion
February 9, 2010
Although Greece constitutes just 2.65% of the euro area economy, it is understandable why the Greek debt crisis rattled the region’s other markets. One element of Greece’s problems, the unreliability of reported data and past gimmicks used by Greek authorities to meet standards for joining the European Monetary Union, naturally raise suspicions about other members […] More
Greece Default Fears Send Euro Lower
January 15, 2010
Trichet’s unbending remarks that Greece will not get special policy favors to address its huge government deficit has weighed sharply on the euro, which, along with the Swiss franc, fell 0.8% against the dollar. One wonders if one intent of Trichet’s stance on Greece was in fact to temper the euro. The dollar also gained […] More
Dollar and Yen Sharply Higher
December 17, 2009
The dollar shows similar advances of 1.3% against the Australian dollar, 1.2% against sterling, the kiwi, and euro, and 1.0% relative to the Swiss franc and Canadian dollar. The greenback is only 0.1% firmer against the yen, however. Lots of short dollar positions getting stopped out. FOMC statement seen as mostly dollar-supportive. Senate Banking Committee […] More
Focus on Fed and Other Central Banks
December 16, 2009
The dollar is mixed as markets await the FOMC statement around 19:15 GMT today. No rate change is expected. A change in language on future rate guidance also seems unlikely, but modifications will be made in economic assessment and possibly comments about unconventional stimulus. The dollar is up 0.7% against the Australian dollar and 0.4% […] More
