Greek debt
Japan, Spain and Greece in Spotlight
November 26, 2012
Minutes from the Bank of Japan’s October 30 Policy Board meeting accentuated the difficulty of overcoming deflation, with two of the nine members believing more stimulus is needed to boost inflation to the 1% target. In a speech today, Governor Shirakawa acknowledged that the economy has weakened but deflected responsibility for ultimately overcoming deflation to […] More
No Breakthrough at EU Summit on Greece
May 24, 2012
EU leaders in Brussels produced no fresh ideas on Greece. Germany still is resisting euro bonds, yet uncertainty over the status of Greece and the risk of contagion is hurting Germany’s economy more discernibly. Stocks are higher in Europe, nonetheless. The British Ftse, Paris Cac, and German Dax have so far rebounded by 1.2%, 1.0% […] More
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
