Carney's comments weakening Pound. The pound fell for a third day against the euro after Mark Carney, who will be the governor of the Bank of England in July, said the central banks around the world have room for additional monetary easing if needed. Sterling fell to 13-month low against the euro after an industry report showed UK house prices fell in January from a year ago. Government data last week showed GDP shrank more than economists forecast, pushing the UK back into recession. Inflation expectations rose to its highest level since June 2011 with increasing stimulus opportunities. Strategic currency at UniCredit Global Research in Milan.
Government Wants Swiss Franc Weakens Continues
Several ministers said the strengthening of the Swiss franc is still worried even after recent weakness toward its weakest level in 20 months against the euro. "The euphoria of place" and needed more depreciated more, said Finance Minister Eveline Widmer-Schlumpf at the World Economic Forum in Davos, Switzerland on January 26. "The franc is still very strong." Swiss National Bank imposed a limit on 1:20 francs per euro in September 2011 to protect the importer as rising bond yields in the weakest European economies prompted investors seek safer assets. The franc has weakened since the signal that the European debt crisis has eased reduced demand for safe haven. Swiss Economy Minister Johann Schneider-Ammann issued a statement in line with Widmer-Schlumpf told reporters that the franc was "too strong." He said he hoped the "franc will weaken again." Prospects for the franc is "a question of developments in Europe," Widmer-Schlumpf said. He also hopes that the depreciation continues. The two ministers said that any policy to weaken the franc depends on the central bank, which the SNB President Thomas Jordan met Widmer-Schlumpf in Davos.
Durable Goods Data Prop U.S. Stock Market
As refers to the stock market opened higher on Monday on positive economic data and expectations that the weakening of the important earnings report is only temporary. Caterpillar reported earnings that were below Wall Street expectations, as earnings from Dow components are only $ 1.04 per share, well below the estimate of $ 1.70 per share, and revenue was also less than expected. However, Caterpillar earnings estimates will improve this year. After being traded lower, Caterpillar shares rebounded, rising more than 1% and help push the index futures to delam breakeven level. "Caterpillar has reported poor results last year ... due to lower tiers of production line equipment manufacturers and vendors to raise the amount of inventory," said Theoni Pilarinos and Ben Cherniavsky, analyst at Raymond James.
Encouraging U.S. Data European Market Sentiment
European stocks moved slightly higher after U.S. durable goods orders data are solid, which prompted some traders to enter the market early in the trading week cautiously. Germany's DAX and CAC40 French perched in the green zone, with each collecting 0.05% and 0.25%. Similarly, Britain's FTSE, which rose 0.25% observed so far. From Italy, the medium-term bond auction held today fail to meet the target. The government is only able to sell less than the target of € 3 billion to € 3.5 billion in Treasury debt. Italy is scheduled to hold elections next month. While the European Commission, the European Central Bank (ECB) and IMF officials will begin the task of reviewing their quarterly to Ireland this week, after giving the last review in October last. Troika will assess recent economic developments and policy implementation by the Government of Ireland after the disbursement of the bailout in 2010. IMF officials will also visit Spain on the same weekend to monitor the sustainability of the reform of the banking sector.
U.S. Durable Goods Orders Rise 4.6%
Orders for U.S. durable goods jumped 4.6% in December, following an increase in orders for Boeing aircraft, according to the U.S. Commerce Department reported Monday. The figure was far above expectations of 1.8% of the economists. While the U.S. core durable goods orders, which do not include the transportation sector, grew 1.3% after posting a 1.2% rise in November. The results also beat expectations of 0.7% of the economists. Some economists assess if the rise in U.S. durable goods orders in December have indicated if the concerns of the business sector on tight fiscal policy does not seem to hold back investment plans as bad as expected by the end of 2012.
Fitch: U.S. Debt Limit Suspension Eliminate Risk of Downgrade
Fitch Ratings said the U.S. debt limit delays while eliminating the risk of short-term U.S. credit rating. Approval of the medium-term deficit reduction plan that is credible together with the strengthening economic recovery will probably be able to establish his rating and revised the outlook from negative to stable, Fitch said in a statement. If there is no such plan, the negative outlook may be berujun downgrade in 2013. Fitch has previously said failure to raise the debt limit on time can lead to re-rating of U.S. debt debate. U.S. Congress managed to break the deadlock on January 2 about how to avoid a fiscal cliff to approve tax increases to more than 99% of the population. House of Representatives held a vote on January 23 to temporarily suspend the U.S. debt limit. "It is restoring market sentiment," said Sireen Harajli, strategic currency at Credit Agricole in New York USA. "It seems like the market is strong."
Government Wants Swiss Franc Weakens Continues
Several ministers said the strengthening of the Swiss franc is still worried even after recent weakness toward its weakest level in 20 months against the euro. "The euphoria of place" and needed more depreciated more, said Finance Minister Eveline Widmer-Schlumpf at the World Economic Forum in Davos, Switzerland on January 26. "The franc is still very strong." Swiss National Bank imposed a limit on 1:20 francs per euro in September 2011 to protect the importer as rising bond yields in the weakest European economies prompted investors seek safer assets. The franc has weakened since the signal that the European debt crisis has eased reduced demand for safe haven. Swiss Economy Minister Johann Schneider-Ammann issued a statement in line with Widmer-Schlumpf told reporters that the franc was "too strong." He said he hoped the "franc will weaken again." Prospects for the franc is "a question of developments in Europe," Widmer-Schlumpf said. He also hopes that the depreciation continues. The two ministers said that any policy to weaken the franc depends on the central bank, which the SNB President Thomas Jordan met Widmer-Schlumpf in Davos.
Durable Goods Data Prop U.S. Stock Market
As refers to the stock market opened higher on Monday on positive economic data and expectations that the weakening of the important earnings report is only temporary. Caterpillar reported earnings that were below Wall Street expectations, as earnings from Dow components are only $ 1.04 per share, well below the estimate of $ 1.70 per share, and revenue was also less than expected. However, Caterpillar earnings estimates will improve this year. After being traded lower, Caterpillar shares rebounded, rising more than 1% and help push the index futures to delam breakeven level. "Caterpillar has reported poor results last year ... due to lower tiers of production line equipment manufacturers and vendors to raise the amount of inventory," said Theoni Pilarinos and Ben Cherniavsky, analyst at Raymond James.
Encouraging U.S. Data European Market Sentiment
European stocks moved slightly higher after U.S. durable goods orders data are solid, which prompted some traders to enter the market early in the trading week cautiously. Germany's DAX and CAC40 French perched in the green zone, with each collecting 0.05% and 0.25%. Similarly, Britain's FTSE, which rose 0.25% observed so far. From Italy, the medium-term bond auction held today fail to meet the target. The government is only able to sell less than the target of € 3 billion to € 3.5 billion in Treasury debt. Italy is scheduled to hold elections next month. While the European Commission, the European Central Bank (ECB) and IMF officials will begin the task of reviewing their quarterly to Ireland this week, after giving the last review in October last. Troika will assess recent economic developments and policy implementation by the Government of Ireland after the disbursement of the bailout in 2010. IMF officials will also visit Spain on the same weekend to monitor the sustainability of the reform of the banking sector.
U.S. Durable Goods Orders Rise 4.6%
Orders for U.S. durable goods jumped 4.6% in December, following an increase in orders for Boeing aircraft, according to the U.S. Commerce Department reported Monday. The figure was far above expectations of 1.8% of the economists. While the U.S. core durable goods orders, which do not include the transportation sector, grew 1.3% after posting a 1.2% rise in November. The results also beat expectations of 0.7% of the economists. Some economists assess if the rise in U.S. durable goods orders in December have indicated if the concerns of the business sector on tight fiscal policy does not seem to hold back investment plans as bad as expected by the end of 2012.
Fitch: U.S. Debt Limit Suspension Eliminate Risk of Downgrade
Fitch Ratings said the U.S. debt limit delays while eliminating the risk of short-term U.S. credit rating. Approval of the medium-term deficit reduction plan that is credible together with the strengthening economic recovery will probably be able to establish his rating and revised the outlook from negative to stable, Fitch said in a statement. If there is no such plan, the negative outlook may be berujun downgrade in 2013. Fitch has previously said failure to raise the debt limit on time can lead to re-rating of U.S. debt debate. U.S. Congress managed to break the deadlock on January 2 about how to avoid a fiscal cliff to approve tax increases to more than 99% of the population. House of Representatives held a vote on January 23 to temporarily suspend the U.S. debt limit. "It is restoring market sentiment," said Sireen Harajli, strategic currency at Credit Agricole in New York USA. "It seems like the market is strong."
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