Forex News
Jul 17 2007, 23:00 - 0 Comments
Jean-Claude Trichet, the European Central Bank President has stand up to the independence of ECB last Friday, this has been under the attacks at the current days in France.
According to Trichet, “We are remaining in the agreement.
Jul 17 2007, 22:00 - 0 Comments
The Australian dollar’s strong performance over recent weeks could be further boosted when the Consumer Price Index report, a key indicator of consumer price movements, is released on Tuesday.
After eight weeks on the up, the Aussie dollar reached 18-year highs against the struggling US dollar last week.
The coming days will be telling for the short-term performance of the Australian dollar as the continued strong performance of the currency will hinge not only on the upcoming release of CPI data, but the confidence of the Japanese market.
Continued lack of confidence in the Hang Seng could have a detrimental affect on Australian currency and markets.
Possibly more important is the CPI which is expected to show 1.0 inflation for the quarter and 1.9 percent for the year.
While a yearly rate of 1.9 percent would be positive news, the expected quarterly rate of 1.0 would indicate an inflation rate for the full year of around 4 percent, which would be well above the Australian Government’s target of 2-3 percent.
However, the projected results remain far from certain at this point and any deviation could negatively impact the Australian dollar’s performance against other major currencies.
If it is to build on the gains of the last eight weeks, Tuesday’s data will need to consolidate current interest expectations to maintain confidence in the markets and prevent a major sell-off.
The CPI rose 0.1% in the March quarter 2007, a slight increase from the fall of 0.1% in the December quarter.
Jul 17 2007, 03:00 - 0 Comments
The market spending index last May increase to 1.2% from the previous year, increasing to 2% last April, this was the data told by the central Bureau of Statistics.
The expenses in CBS was moderately lowered last April as compared to the previous year.
The consumption in the durable goods rise to 0.5%, this is the lowest since 2005, as told by CBS.
Jul 16 2007, 22:00 - 0 Comments
Romano Prodi, he is the prime minister of Italy told last Friday that the deal already reach the labor union scraping law increasing the retirement age in Italy from 57 then 60, this saved the government billions of money, measuring the sharp division in the coalition.
The new plan of the prime minister that jars the legislator’s momentum in all Italy co-venture in the European Union thus offering an increase in the retirement age that will begin next year.
Jul 16 2007, 14:00 - 0 Comments
Janos Koka, he is the economy and transport minister of Hungary, has announced that the resignation will be today, as told by the spokesperson, Gabor Horn in the party for Koka, this was confirmed by the Alliance of Free Democrats, in their press reports.
The spokesperson, Horn stated that Koka will be remaining in the post up to the end of this year, he wants to aim in his work as a leader in the liberal party, this junior co-venture has been governing coalition, this runs up to Europe and the international parliamentary elections.
The comments by Horn was followed in the press reports had announced his resignation just this morning by the officials in the Economy and Transport Ministry.
Jul 16 2007, 11:00 - 0 Comments
The Bank of Greece stated that the deficit in the trading will widen into EUR3.15 billion last May up to EUR2.73 billion the previous year.
Jul 16 2007, 09:00 - 0 Comments
The statistical office releases official data on June unemployment next week.
Jul 16 2007, 06:00 - 0 Comments
The central bank in the Czech Republic will be increasing their main interest rats in the meeting at July 26 up to 25 bps then 3% it was not likely to the rise in the interest rates as further this year because of the strong crown as told by the analyst Raiffeisenbank, Ales Michl.
According to Michl, “We think that the crown will be beginning to appreciate in the end of summer, this will be an offset to the rising interest rates for the next 3 to 5 months.
The consumers will be expecting another increase rates this year in offset to the pressure of inflation that resulted to the buoyant expenses and the weak crown as told by Michl and another rise is not expected to Q1, next year.
