Archive for August, 2006
Loans calculators consider US growth
US data yesterday afternoon showing an upward revision to second quarter economic growth to 2.9 percent from 2.5 percent was broadly viewed as negative for the dollar, given that it was slightly below the consensus forecast for an upgrade to 3 percent. A string of recent weak US data and dovish comments from the Federal [...]
August 31, 2006
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FOMC Signals there is no rush to resume rate hikes
News of a sharp pick-up in US inflation expectations shortened the odds of another rate hike in the USA. The Conference Board reported a pick-up in inflation expectations in August, to reach 5.5 percent from 5.1 percent in July. The rise came despite a slump in overall confidence, with the headline index dropping to 99.6 [...]
August 30, 2006
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Consumer Confidence in the US expected to show a decline today
The day’s trading is slow, with the UK shut for a public holiday yesterday and the lack of any economic news out of the US. The consensus is that the euro will remain well-bid in the near term despite some soft data yesterday. In data out yesterday afternoon, it was revealed that M3 money growth [...]
August 29, 2006
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Bernanke speaks. will the market listen?
Following what was the busiest day of the week in terms of economic data releases we are opening up this Monday morning with GBPUSD over 1 cent lower and a 75 point move witnessed in GBPEUR. First up yesterday was German business sentiment which came better than expected and provided immediate strength for the Euro. [...]
August 28, 2006
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Euro refinancing loans worries
The euro came under pressure in late trade as investors braced for yet another weak confidence survey out of the region today, leading some investors to scale back somewhat aggressive expectations of rate hikes in the 12-nation area. The euro fell under the key 1.28 usd level before finding some support from some smaller European [...]
August 24, 2006
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Home loans worries dampens markets
The appreciation of the euro, high oil prices, the threat of higher European Central Bank interest rates and concerns about the VAT rate hike have all taken their toll on economic confidence. There was some comfort however with the current conditions index picking up sharply to +33.6 points in August from +23.3 in July. The [...]
August 23, 2006
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Loans market focuses on Oil…
In a week of few economic releases Oil remains a key focus for many market observers. The price steadied overnight at over $72 a barrel after a two day rally as Iran vowed to press ahead with its current nuclear programme raising the prospect of sanctions against the world’s fourth largest oil exporter. Iran is [...]
August 22, 2006
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Home loans rates still on the up
The loans markets is currently still pricing in a more than 50 percent chance that inflationary pressures will force the Fed to raise interest rates again by the end of the year. The pound was particularly weak, falling to 15 day lows against both the dollar and the euro. The UK currency has been on [...]
August 21, 2006
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Home loans rates hit by currency worries
The British pound was on the back foot after economic data suggested that consumer spending may be faltering in the UK. The news drove the pound to a 2-week low against the euro. The UK currency had previously found support from the Bank of England’s surprise rate hike in early August and speculation of more [...]
August 18, 2006
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Surprise at 6-1 BOE decision to raise loans rates
Intra market loans rates came back after an initial dip on the back of news that the Bank of England decision to hike interest rates earlier this month was not unanimous and that jobless levels in the country have risen. Partly offsetting the impact on the early drop, however, was the fact that wage pressures [...]
August 17, 2006
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