Commodity prices are sinking in European trade amid broad-based risk aversion following comments from Standard & Poor’s analyst Moritz Kraemer warned that Greece may have to undergo another debt restructuring. A disappointing set of Eurozone confidence indicators compounded the dour mood across exchanges, renewing worries about the impact of a now widely expected recession in [...]
Euro: Fitch Sees Greek Default, ECB Rate Decision On Tap The Euro slipped to a low of 1.4133 as Fitch Ratings said a 50% haircut on Greek debt would be considered a ‘default event,’ and the single-currency may continue trade heavy in the week ahead as investor confidence remains frail. Meanwhile, China’s Vice-Finance Minister, Zhu [...]
The main theme from this past week was a combination of worse than expected employment data out of the US and the tightening of European interest rates despite the back up in interest rates in the periphery of Europe and now Italy. The Euro moved lower after pushing above the 1.45 level, despite generally hawkish [...]
* Euro falls on doubts Greek austerity vote will pass * Initial gains from strong German IFO quickly fizzle * Signs of dollar funding strains may support dollar NEW YORK, June 24 The euro dropped against the dollar for a third straight session on Friday and hit a record low against the Swiss franc, with [...]
By John Mauldin May 20, 2011 Economic versus Political TheoryTrichet Says “Non!” AgainWhat Will the EU Do?All for One Euro and One Euro for All?We’re Off to Europe I have been doing a lot of reading this week, and today we look at some of the thoughts that keep coming to my mind. We’ll think [...]