Dallara: No agreement with the banks for the amount of the haircut

By admin | Published: October 25, 2011

There is no agreement yet between the European Union and banks have to hold Greek bonds, according to the statements of the head of the Institute of International Finance (IIF) Charles Dallara, CNBC news agency. “It is not clear whether an agreement until tomorrow (Wednesday), “noted Mr. Dallara, who leads the negotiations between creditor banks and the EU noted that officials of the IMF and the eurozone unveiled today at Dow Jones Newswires that Germany is pushing hard for banks to accept a haircut 60% on Greek bonds they hold, but France insisted that the “cut” should not be higher than 40%, a view which is also supported by banks. On Monday, the Dallara warned that a non-voluntary agreement on the contribution of private sector debt of Greece would have significant risks of contagion, penalizing growth and employment in Europe as the high rate of euro returned in the forex market. “There are limits to what can be considered voluntary agreement,” he said Monday the head of the IIF.

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UK: At 14 months high the mortgage approvals

By admin | Published: August 30, 2011

At the highest level in more than one year was the number of mortgage approvals in Britain, as current data showed the Bank of England. The BOE announced that in July approved 49,239 home loans, compared with 48,500 in June. This is the highest reading since May 2010. ‘s net mortgage lending, which takes into account repayments, rose by 700 million pounds in July, rising 0.1% monthly and 0.8% on an annual basis. At the same time the British Pound continues in forex trading to be in high levels. The EURGBP is trading at 0.8841 while against the USD the GBPUSD is at $1.6350.

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Japan: We are ready to intervene in foreign exchange markets

By admin | Published: August 22, 2011

Japan would take decisive action against any speculation in the forex market, said Monday the Minister of Finance of Japan Yoshihiko Noda, signaling the readiness of Tokyo to intervene to curb any new rise of the yen, after record high last week. The Japanese finance minister said the recently observed sharp strengthening of the currency and that will hold close discussions with the G7 countries around the foreign exchange market, while continuously monitoring the progress of the yen. “We will monitor more closely the markets to see if there is a speculative move. We do not exclude any measure and will take decisive action if necessary “, said the Noda.

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Returns over $80 the crude on Globex

By admin | Published: August 10, 2011

The upward trend of oil trading maintained in Asian session as it remained in line with the broad rebound in stock markets in Asia. The Commodity Exchange of New York The contract of crude, September delivery traded above $ 81 a barrel with gains above 2% in electronic transactions. Brent crude type rises 2.2% to $ 104.86 a barrel. recalled that yesterday the price of NYMEX closed at lowest level since September and below $ 80, the climate challenge for the global economic outlook posed the depressing stock markets around the world. Analysts estimate that the current upturn in the price of crude comes from regular short covering. The goal of $ 85 a barrel on the NYMEX is “on paper”.

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Stabilizing moves for the spreads of the European region

By admin | Published: July 1, 2011

Small fluctuations are making Friday the spreads of bonds of the European region. In particular, upward moves in today’s trading the spread of the decade and a mild decline recorded by the rest of the region. Further, the premium demanded by investors for holding ten-year Greek bonds over German bund formed at 1,333 bps this time by 1.16 bps higher than the close Thursday. Instead, a small decline in record Friday the spreads Ireland, Portugal, Spain and Italy customizable to 763 bps, 783 bps, 233 bps and 181 bp, respectively. The Greek five-year CDS are at 2,100 bps this time. On the forex trading market the EURUSD is trading above 1.4500 heading towards 1.4700 while the EURJPY is trading at 117.50 and the USDJPY at 80.72.

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New significant losses in the Southern European Stock Exchanges

By admin | Published: June 20, 2011

With nervous movements and loss of more than 1% European markets react to the new slow Europeans to reach a definitive solution to the Greek crisis.Serious losses in Madrid and Milan, and restored the problem in Paris, Lisbon, Brussels and Amsterdam. The Eurozone finance ministers have indicated that reduced their differences over the participation of private creditors to the financing of Greece in the coming years, but the final plan should … wait until early July.

After the meeting in Luxembourg on Sunday, officials left unresolved important details, most important how to involve private creditors without lead Greece into “bankruptcy.”In their announcement, pledged to prevent any form of bankruptcy, which many fear could cause chaos in the financial system of the eurozone. “The markets just do not want the uncertainty is therefore estimated that the traders will continue to avoid risks, thereby leading stocks and the euro to fall,” says Cameron Peacock of IG Markets. Involve to the high volatility forex market and trade currencies online now with leverage up 1:500.

Earlier, it was known that the Paris, Lisbon, Brussels and Amsterdam did not start normal trading due to technical problem, as announced by the company NYSE Euronext. On the dashboard, the estimator of the state of the stock markets of member countries of the Eurozone, the Euro Stoxx 50 lost 1.51% record. In London the FTSE 100 falling 1.05% record.The German DAX declining at a rate of 1.19%, while in Paris the CAC-40 moved to -1.38%. Losses of 1.99% notes IBEX in Spain, a 2.45% decline in the Italian MIB, while the Swiss SMI moves downward by 0.95%.In Portugal, the index PSI records falling 1.55%. Negative signs have indices in Russia, the RTS to -1.23% and -0.65% in Micex.In Turkey, the ISE index falls at a rate of 1.97%.

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USA: New growth in import prices in May

By admin | Published: June 10, 2011

Unexpected increase for the eighth consecutive month in May showed that import prices in the U.S.. In particular, according to data from the Ministry of Employment, import prices increased by 0.2% on a monthly basis, after 2.1% growth in April. Noted that a poll of Dow Jones Newswires, economists have developed estimates for monthly fall of 0.7%. Trade currencies and other products such as Metals, Indices and Futures with the best forex platform of the online forex world – the MT4. Furthermore, on an annual basis, import prices increased by 12.5% ​​the biggest annual rise since September 2008. The petroleum import prices fell by 0.4% while overall the last twelve months have increased 44.6%. Excluding oil import prices rose 0.4%.

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Restructuring ask for Greece the “Greens” of Germany

By admin | Published: June 8, 2011

The German Greens seek restructuring involving private creditors in order to address the debt crisis in Greece. “This is required to restore debt sustainability in Greece,” said the spokesman of the Greens Gkerchart Sic on German radio Deutschlandfunk. “The debt burden is so large that there is no prospect, if not reduce this level of debt through a restructuring,” he said. The “green” politician criticized the German government, why did not advance the goal of restructuring. At the same time praised the efforts of the Greek government to clean up the budget. No other European country has not progressed as improvements in such a short time, said k.Sik and proposes the establishment of a European bank rescue fund, which will support those banks will face problems due to the restructuring of the Greek debt, “so not to cause further turmoil in financial forex markets.

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Britain: 103,000 fewer jobs in the banking sector

By admin | Published: June 3, 2011

The five biggest British banks, including the Royal Bank of Scotland and Lloyds Banking Group, from 2008 until today have cut more than 103,000 jobs and is expected to proceed and to more cuts. It highlights the agency Bloomberg, the figure corresponds to 11% of the total workforce are the UK banks worldwide. At least 34,500 of those who lost their jobs, working in Britain. However, the forex departments of the banks will not be affected much.

Banking analyst at PricewaterhouseCoopers in London, Andrew Gray, points out that banks have plans to aggressively reduce costs, “which suggests that further cuts.” He adds that in many cases, the cost savings will be made in global operations and will expand in the international cost base. The British banks cut jobs and sell assets shrinking their balance sheets by 1.5 trillion pounds from the 2008 crisis, as banks reduce their leverage and are subject to stricter rules in regard to their capital from the beginning. Companies in the financial industry worldwide, plans to cut more than 16,000 positions in the first half of 2011, according to the Confederation of British Industry. The biggest cuts were executives of RBS and Lloyds, which have received state support.

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Moodys: Warns Great Britain of bank downgrade

By admin | Published: May 24, 2011

A warning for degration the evaluation of the five largest UK banks sent to an analysis the Moodys, because of concerns about what might happen if the government stop its support to them. The Royal Bank of Scotland and Lloyds TSB, which are controlled by majority share from the British government are among the 14 financial institutions, whose assessments might be lowered by Moodys.

However, the CNBC news agency notes that despite recent problems, both banks are still receive an Aa3 assessment from Moodys, which is one of the highest ratings. Moodys began to examine the financial institutions who are directly supported by the government, such as RBS and Lloyds, or had accepted a change in long-term evaluations of the credit crisis. The 14 banks that are affected are Bank of Ireland, Co-Operative Bank, Coventry Building Society, Norwich & Peterboough Building Society, Nottingham Building Society, Principality Building Society, Santander, Skipton Building Society, West Bromwich Building Society and Yorkshire Building Society. As many forex brokers indicate, if Moody’s eventually proceed to the downgrade the EURGBP and GBPUSD rates will significantly affected.

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