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FX Daily
September 26, 2014 Posted by
Greek Prime Minister Antonis Samaras is working to convince German Prime Minister Angela Merkel that Greece can now handle an early exit from their bailout program. Earlier in April, Greece issued debt for the first time in 4 years and yields on the nation’s ten year note have fallen from a record high of 44.21% to 5.47%, which is less than yields of similar debt issued by Iceland and Mexico.
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FX Daily
September 24, 2014 Posted by
Japanese Prime Minister Abe said that weakness in the JPY could have both positive and negative consequences and noted that he would be cautious about impacts on the local economy. Abe’s comments followed those of Economic Minister Amari and Finance Minister Aso who stated that too rapid a decline in the JPY was not desirable.
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FX Daily
August 28, 2014 Posted by

Geopolitical tensions are negatively impacting the markets this morning. Global equities dropped, gold is higher, the USD is stronger, and the RUB sold off to a six month low on evidence that Russia has sent over 1,000 troops to fight in the Ukraine with the separatists.

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FX Daily
August 27, 2014 Posted by
The Euro strengthened from its lowest levels in nearly a year after Germany’s Finance Minister Wolfgang Schaeuble stated that ECB president Draghis’ comments regarding fiscal policy were “over –interpreted.” The currency’s modest advance comes ahead of tomorrow’s schedule release of German consumer price inflation, which is predicted to bolster the case for added ECB stimulus.
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FX Daily
August 26, 2014 Posted by

French President Hollande’s firing of industry minister Arnaud Montebourg for publicly criticizing austerity measures underscores the political crisis confronting the President as he tries to strike a balance between demands at home to revive a struggling economy and pressure from the EU to reduce deficits. Hollande’s approval rating is just 17% and unemployment is at a record high of 10.1%. It is under this backdrop that Hollande’s pledged EUR 50 billion in spending cuts over 3 years has been met with resistance. Montebourg’s critique of austerity referred Hollande’s measures as “slavish” and “dogmatic.”

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FX Daily
August 25, 2014 Posted by
ECB President Mario Draghi moved the markets, with bonds and stocks rallying and the EUR weakening, following comments he made at the central-banking conference in Jackson Hole on August 22nd that imply the ECB is contemplating quantitative easing as a means to avoid deflation. Draghi warned that bets by investors on prices have “exhibited significant declines”.
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FX Daily
July 10, 2014 Posted by
Global equity markets are under pressure on concerns that Portugal is experiencing financial stress, with Portuguese 10 year notes yielding 20 basis points more than yesterday. U.S. treasuries, gold, and the JPY are rallying as safe havens.
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FX Daily
July 09, 2014 Posted by

The markets are awaiting the release of the FOMC minutes today for insights into the Fed’s sentiment on the economy and the timing of the first rate hike. In June the FOMC updated forecasts for unemployment, inflation, and the Fed Funds rate that indicated members were becoming more optimistic about the U.S. economic outlook.

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