Archive for February, 2009
Range trading continues
The Euro zone data released this morning (CPI and EU unemployment) has carried the theme of the week and met the consensus expectations. The fact that CPI has remained steady will slightly ease the pressure on the ECB to cut interest rates in their March meeting. Over the last week we have continued to see [...]
February 27, 2009
Tags: Bank of Japan, Credit Crunch, Loan calculator, recession, refinancing rates Posted in: Uncategorized 
No Comments
RBS announce record corporate loss
Following yesterdays UK GDP data the pound looked resolute and stable, trading towards the top of the range against the dollar and the euro. This illusion was shattered by dovish comments from MPC member Blanchflower and the news that RBS announced the biggest loss in corporate history at £24.1 bn; this was attributed by Chairman [...]
February 26, 2009
Tags: Bank of England, Credit Crunch, new home sales, UK loans rates, unemployment Posted in: Uncategorized No Comments
US stocks bounce from the lows
Following dreadful US consumer confidence data earlier in the day the Dow posted a 2% rise, this after Bernanke testified to the Senate on the health of the US economy. He again highlighted that the US economy still faces further contraction, however he intimated that the US government would not move to nationalize US banks [...]
February 25, 2009
Tags: Barack Obama, Bernanke, Credit Crunch, uk recession, US mortgage rates Posted in: Uncategorized No Comments
Asia stocks fall on growing US economic fears
Asian stocks fell heavily this morning following last night’s sharp decline in American shares. Investors responded to fears that the world’s largest economy is sinking further into recession and speculation that the US Government may be forced to buy stakes in ailing banks, despite assurances from Washington that lenders would not be nationalised. Japan’s Nikkei [...]
February 24, 2009
Tags: Bank of Japan, Credit Crunch, Loan calculator, recession, US loans rates, US mortgage rates Posted in: Uncategorized No Comments
US Dollar under pressure
Last week although the currency markets were choppy, we did not see a significant break out of the current ranges for the main protagonists- GBP/USD, EUR/USD and GBP/EUR. What we did see was more negativity in the equity markets as the Dow fell to the 2002 lows below 7300 amid fears that the US government [...]
February 23, 2009
Tags: Barack Obama, Credit Crunch, recession, US loans rates, US mortgage rates Posted in: Uncategorized No Comments
Euro halts losing streak against the US Dollar
Yesterday the euro managed to halt its losing streak against the US dollar as the German finance minister stated that Germany would act if other countries in the euro zone required assistance, this helped to stall the euro decline and allay some of the fears of a potential banking crisis in Eastern Europe. Data just [...]
February 20, 2009
Tags: Credit Crunch, Loan calculator, recession, retail sales Posted in: Uncategorized No Comments
Nationalised banks to add £1.5 trillion to public debt
Royal Bank of Scotland and Lloyds TSB, the two banks bailed out by the labour Government, are to add between £1 trilion and £1.5 trillion to the public debt, the equivalent of between 70 and 100 per cent of GDP, the Office for National Statistics indicated this morning. Britain’s public sector net debt is already [...]
February 19, 2009
Tags: consolidate debt loans, sub prime loans, UK loans rates, uk recession Posted in: Uncategorized No Comments
Euro in the spotlight
The Pound held up well yesterday as the latest inflation data confirmed that CPI fell 0.7% in January bringing the annualized level to 3.0% which is down slightly from Decembers 3.1%. The 3.0% level is still well above the Bank Of England’s 2% target for inflation and this data suggests that interest rates may not [...]
February 18, 2009
Tags: Bank of England, Credit Crunch, inflation, recession, uk recession Posted in: Uncategorized No Comments
The Euro finally breaks down through the 1.2700 support
This support level has held since early December against the US dollar. The target going forward is now for a lower rate with the medium term outlook still towards 1.1500. This latest Euro weakness stemmed from renewed apprehension towards the economic outlook for Eastern Europe and a warning released by Moody’s overnight that Western European [...]
February 17, 2009
Tags: consolidate debt loans, Credit Crunch, euro, recession, sub prime loans, uk recession Posted in: Uncategorized No Comments
UK recession worse than first feared, Bank of England’s deputy Governor warns
The UK has an odds on chance of suffering an even deeper recession than first feared, the Bank of England’s deputy Governor, Charles Bean, has warned. The Bank last week predicted a near 4 per cent year-on-year fall in output as the credit crunch tightens its grip on the wider economy. But Charles Bean told [...]
February 16, 2009
Tags: consolidate debt loans, Loan calculator, UK loans rates, uk recession Posted in: Uncategorized No Comments
