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Saturday 4 September 2010 |
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Euro Economy & Financial Markets
There are 43 articles available in this category. Please select the required article from those listed below:
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Focus on Central Bank Meetings
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| Central bank meetings dominate this week, with markets betting on a wave of rate cuts from the Fed, Bank of England and ECB.
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Further Euro Appreciation against US Dollar Limited
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| Despite the improvement in equity markets and the flow of economic data, the major currencies have remained in tight ranges in recent months. Since the dollar’s recovery from its mid-year low of $1.02, movement in the dollar/euro rate has been confined to a $0.95-$1.00 range.
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Prodi Stuns Markets With “Stupid” Remark on EU Stability Pact
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| There was a great deal of surprise and indeed shock around the capitals of the EU and in the European Commission over the remarks on Thursday by the President of the EU Commission, Romano Prodi, that the Stability and Growth Pact (SGP) was “stupid”. This article appeared in last Saturday's Irish Times.
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Markets Believe ECB will Deliver on Rates
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| The European Central Bank’s Governing Council meets again on Thursday for its monthly review of interest rate policy. The markets do not expect that the ECB will cut the official refinancing rate of 3.25% this week
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Room for ECB Rate Cut
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| Financial markets are still clinging to the view that the ECB will be forced to cut official eurozone interest rates before the end of the year. The euro economy needs a cut and the ECB may oblige.
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Europe Unlikely to Follow any US Action on Interest Rates
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| With the focus on today’s US Federal Reserve’s interest rate policy meeting, markets are also wondering about the scope for interest rate cuts in Europe in the months ahead. It is very unlikely that the Fed will cut official interest rates today......
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EURO ON THE ROPES
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| The euro is under pressure, having fallen below key chart points. However, more fundamental factors are at work, many of which are not new
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ECB STICKS TO HARD LINE ON RATES
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| Despitre the surprise cut in US interest rates on 18April, the ECB is in no mood to concede to market pressure to follow the Fed's lead.
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ECB NOT IN FORM TO LISTEN
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| The ECB left interest rates unchanged last week. However, a rate cut before the end of the current quarter is still possible.
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EURO WEAKENS AS ECB LEAVES RATES UNCHANGED
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| The decision by the European Central Bank to leave official rates unchanged last week lacked credibility with the financial markets. The odds are turning against a rate cut on 11 April.
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ECB TO TAKE LESSONS FROM THE FED
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| The ECB Governing Council meets on Thursday to consider interest rate policy. It may be too early for a cut this week but one should come by 11 April.
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MORE REQUIRED TO LIFT EURO HIGHER
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| The euro has been supported by intervention and by the slowdown in the US economy. However, a strong growth performance in the eurozone will be required if the currency is to make further progress.
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ECB INTERVENES UNILATERALLY ON EURO
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| The ECB intervened through the day to support the euro. In the short term, the action had little effect on rates. However, it does demonstrate that the ECB intends to put a floor under the euro.
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ECB GAINS FED SUPPORT FOR EURO INTERVENTION
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| The ECB gained the support of the US Fed and the Bank of Japan for concerted intervention to support the euro. Text of article which appeared in Irish Times, Saturday 23 September.
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EURO UNDER PRESSURE BUT RECOVERY IS IN THE WIND
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| The euro remains under pressure with the growing risk that it could fall below $0.80. However, a euro in free-fall is bad news for the US and Japan so that concerted support could be around the corner.
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EURO FACES TOUGH TEST IN SEPTEMBER
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| The euro faces a tough test in September as the markets shake off the summer holidays. Danish referendum at end-month will be crucial for euro.
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EURO ON THE SLIDE
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| The euro has hit new lows against the yen and is set to fall further against the US dollar.
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US GDP DATA HURT EURO
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| The latest US real GDP data for Q2'00 were stronger than expected and pushed the euro lower. The ECB meets this week and may have to lift rates.
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ECB TURNS NASTY BUT GOOD NEWS FOR IRISH ECONOMY
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| The ECB surprised the markets with a rise of 0.5% in the refi rate today. It also moved to a variable rate tender. We see little economic justification for the move but it will be good news for Irish inflation if the euro holds on to its recent gains.
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EURO OUT OF THE WOODS
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| The euro appears to have turned the corner as sentiment improves about the prospects for the euro economy and as economic risk increases in the US.
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ECB Statement On The Euro
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| In a somewhat unusual move, the ECB President, Wim Duisenberg, issued a press release commenting on the performance of the euro. This press release aims at reassuring the public of the euroarea over the current weakness of the euro.
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Euro Faces A Bleak Outlook
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| Unnecessary ECB rate hike yesterday pushed euro lower. More falls are in prospect, implying a fall in the sterling/Irish pound rate to below 70p.
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Euro Fails to Gain from US Equity Market Turmoil
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| The euro failed to gain from the weakness of US equities and is now under pressure as US equities recover. However, lack of market credibility in the ECB is another factor which weighs on the euro.
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ECB remains in hawkish mood on rates
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| The European Central Bank left its key interest rates unchanged yesterday but it is only a matter of time before the official refinancing rate is raised to 3.75%
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ECB Hardens Stance on Euro Interest Rates
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| The European Central Bank left official interest rates unchanged at its Governing Council meeting on 2nd March. However, the ECB President Wim Duisenberg left the markets in little doubt as to the next move in rates. The Bank’s Governing Council concluded that the balance of risk to price stability in the euro area in the medium term remains on the upside. The President stated that these upside risks will need to be monitored and assessed continuously in order to ensure that timely action can be taken, if and when required.
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