Archive for September, 2006
G7 meeting dominates interst rates thinking
The dollar slipped slightly yesterday after US Treasury Secretary Henry Paulson issued a clear warning to China to allow the Yuan to appreciate to better reflect its fundamentals. His stance suggests that the US will pursue a hard line at the upcoming G7 meetings this weekend. Paulson’s comments set the stage for this weekend’s G7, [...]
September 14, 2006
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Dollar loans rise on record trade figures
The dollar survived a knee-jerk sell off yesterday after news that the US trade deficit widened to a record deficit in August, to move back into established ranges against the euro. The US trade deficit widened to a record 68bn USD in July as oil imports continued to rise to record levels, up 5 per [...]
September 13, 2006
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Loans attention turns to US rates
The dollar was modestly higher in late trade, finding some buying support from speculation that US interest rates may rise further after all. But its gains were limited given that the outlook for US rates is still far from certain. In August the Fed paused from its run of 17 straight quarter point hikes which [...]
September 12, 2006
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US focus of attention
The IMF and G7 meetings scheduled for the weekend of Sept 15 in Singapore have been in focus ever since German deputy finance minister, Thomas Mirow, indicated that the yen’s weakness will be discussed at the meetings. The euro, after all, has set a series of all time highs against the Japanese currency in the [...]
September 11, 2006
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Japanese loans rates under fire
The yen’s sharp spike higher came to a halt when one of Japan’s top financial officials appeared to downplay expectations that the recent fortunes of the Japanese currency will be at the top of the agenda at the G7 meeting of leading industrialised nations in Singapore later this month. In comments to reporters in Berlin, [...]
September 8, 2006
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UK loans rates fears drag on Sterling
Sterling remained under pressure yesterday as six junior members of the government quit their posts and urged Prime Minister Tony Blair to do the same. Following weeks of speculation and growing in-fighting within the governing Labour Party, the tabloid Sun newspaper reported yesterday that Blair will finally quit on July 26 2007 following an eight-week [...]
September 7, 2006
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UK refinance loans rates wobble on soft sales data
Yesterday the pound took a knock after news that the services sector growth in the UK came off the boil in August. Its falls deepened further, after news that high street sales were soft during the same month. The UK services sector PMI dropped to 56.7 in August from 57.9 in July, well below analyst’s [...]
September 6, 2006
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Loans calculators becalmed in quiet refinancing markets
Yesterday saw a reasonably flat day of trading with the US markets being closed. The Euro and the pound continued to trade within very tight ranges against the dollar. Volumes have been very thin with US markets closed for the Labor Day holiday yesterday and ahead of a quiet week in terms of US data. [...]
September 5, 2006
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Bank of England expected to hold interest rates…
With a relatively busy period ahead for the market in terms of economic data releases, America should probably use Labor Day, a traditional day of rest, to prepare for the week ahead. In the UK this week, the most anticipated piece of data this week will be the Bank of England rate announcement on Thursday. [...]
September 4, 2006
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Loans attention turns to today’s data from the US
In his press conference following the much-anticipated decision to keep the key interest rate on hold at 3%, ECB chief Jean-Claude Trichet stressed again that the central bank will maintain ‘strong vigilance’ on inflation risks and reiterated his view that monetary policy in the 12-nation currency zone remains accommodative. The ECB also revised up its [...]
September 1, 2006
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