News and Reviews European Economic Zone

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News and Reviews European Economic Zone (UK)

 

Retail Sales Increase in March British Foreign Estimates

Thursday, 21 April 2011

 

UK Retail Sales, outside estimates, an increase of 0.2 percent in March. Previous Economists anticipate the data will show a decline of about 0.5 percent following a 0.5 percent decline in February.

 

Similarly, in calculating annual basis, retail sales rose 0.9 percent reported in March, higher than expectations and previous month's data rate (0.8 percent).

 

ONS released data that illustrates that rising commodity prices and inflation well above the central bank's target is not or has not been a negative impact on consumer spending.

 

Without counting sales in the category of fuel, reported Retail Sales rose 0.2 percent m / m and 0.9 percent y / y.

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News and Reviews European Economic Zone (Germany)

 

German Ifo Business Confidence Falls in April

Thursday, 21 April 2011

 

German business confidence fell in April for a second consecutive month due to deteriorating business outlook, the Munich-based research institute Ifo said Thursday.

 

Ifo business climate index fell to 110.4 in April from 111.1 in March, below the consensus estimate by analysts surveyed 110.5 in advance by Dow Jones Newswires.

 

Previous step to a record high 111.3 in February following the increase in nine months in a row.

 

Assessment of respondents to the current conditions index is rising to the level of 116.3 from 115.8 in March, but the subindex reflects their expectations for the next six months fell to 104.7 from 106.5.

 

"Although the major risk at the international level, the situation in German companies is still very good," said Ifo president Hans-Werner Sinn.

 

Reading is weaker in April "is solely because the company is less positive expectations for future prospects of their business," while "the current business situation has improved again," said Sinn.

 

Savings following Ifo survey on Tuesday in a monthly survey of purchasing managers of Germany, and the second consecutive decline in the closely watched ZEW economic index earlier this month.

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Greek Economy News and Reviews

 

Greece Borrowing Costs Increasing

Thursday, April 21, 2011

 

Greek government bond yield re-print record from Athens expectations will not be able to avoid debt restructuring. "The issue of restructuring has boosted borrowing costs of Greece," said Luca Cazzulani, strategic UniCredit. "The idea obviously intimidating restructuring; This is why bond investors try to stay away from Greece."

 

Greek government bond yield the 10-year and 2 years of high-level touch respectively 14.92% and 22.41%. Borrowing costs continue to rise even though Athens has been affirmed not have a plan for restructuring the debt.

 

Meanwhile, the Financial Times writes Chancellor Angela Merkel does not have a majority in the governing coalition to support the bail-out with current requirements. The data also show the decline in German business confidence for April. However, the euro is still strong in the London session as sentiment continued weakening U.S. dollar.

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UK Economy News and Reviews

 

Friday, April 22, 2011

 

Sterling managed to penetrate the highest level in 16 months amid the weakening dollar and the overall UK economic data thanks to a better than forecast.

 

Dollar continues to weaken against world currencies because of expectations the Fed will not change its monetary policy in the near future even though the U.S. economy improves. Even the dollar index continues to slump down to record low in the range of 73. The weakening dollar also occur due to a wave of risk appetite, with investors chasing risky assets.

 

Sterling also rose thanks to the positive retail sales data. Retail sales unexpectedly recorded an increase thanks to the surge in food expenditure. Retail sales rose 0.2% in March, better than forecast down 0.4%. Other data showed the British public sector debt (public sector net borrowing) increased by 16.4 billion pounds, lower than the prediction of 18.7 billion pounds.

 

At 16:18 hours GMT, sterling traded at $ 1.6560, rising sharply from the previous closing level of $ 1.6399. Against the yen, sterling rose to 135.79 from 135.34. Sterling also rose against the euro to 88.35 pence per euro from 88.53 pence.

 

Meanwhile, the euro also managed to reach the highest level in 16 months. In addition to its risk appetite, the euro also rose due to expectations the ECB will raise interest rates again. The euro rose despite German business sentiment data showing a decline. The euro strengthened to $ 1.4632 from $ 1.4520. Against the yen, the euro was steady at 119.96.

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Euro tripped Greek Debt Maturity Extended

 

Monday, April 25, 2011

 

From the euro zone report, Greece is considering to extend the due date for payment of debt. This certainly reinforces the possibility of restructuring. Athens officials and the European Union has denied the restructuring talks, but the market still believes the restructuring will occur.

 

Daily Ta Nea wrote the Greek government is mererenungkan "velvet restructuring" which includes the extension of maturities and voluntary agreement with creditors to modify payment terms. Where this step must be taken before 2012, but not before the expiry of the leadership of the ECB Jean-Claude Trichet, who will end in late October 2011.

 

Meanwhile, the euro weakened after a report revealed. The euro now stay away from high-level traded daily 1.4579 1.4605

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UK Economy News and Reviews

 

GBP / USD Short Term Sentiment Showing

Monday, April 25, 2011

 

Weale told Reuters that the recovery of the UK in the first quarter has been disappointing. Previous data in the UK Retail sales posted an unexpected increase for March, helped by strong food sales but do little to change the image that keeps fragile consumer demand from the Bank of England raised interest rates.

 

Weekends traded Yesterday, Sterling rose to $ 1.6600, the highest since December 2009, with thin trading ahead of the Easter holiday to move excessively in the currency market. Weale's comments helped knock back to $ 1.6532 up 0.8% for the day.

 

1.6512. Sterling is currently trading in the range between 1.6500. During the Asian session pair up 26 pips from the price of the company, from 1.6524, but found resisatnce at the 1.6550 level.

 

At the time of writing the GBP / USD seems to be low creep show signs of short-term sentiment the same way again approached the level of 1.6488. Only below 1.6488 would pair a low speed, with a goal and then at 1.6450.

 

For GBP / USD support level at 1.6447, the level of 1.6432, 1.6423. Medium Resistance levels are at 1.6552, 1.6568, 1.6598

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News and Reviews European Economic Zone

 

European Exchange Will Open Low

Tuesday, April 26, 2011

 

European stock markets will open lower Tuesday, with many major markets back from the Easter long weekend.

 

Jonathan Sudaria at Capital Spreads also record the session weak in the United States and Asia. How London's FTSE 100 fell 11 points at 6007, Frankfurt's DAX index fell to eight in 7287, and the Paris CAC-40 dropped 19 in 4003.

 

Economic calendar is quiet for Europe, with only the purchase of assets, the facility reports the Bank of England 1Q at 0830 GMT and the UK CBI quarterly industrial trends at 1000 GMT.

 

According Sudaria investors still waiting for the FOMC announcement this week and Fed Chairman Ben Bernanke's debut post-policy decisions a press conference on Wednesday as fresh signs.

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News and Reviews European Economic Zone

 

Euro Slipping After Trichet's comments, But Still Vulnerable Dollar

 

The euro slipped on Tuesday after European Central Bank Governor Jean-Claude Trichet commented on the view that a strong dollar is the interest of the United States, a comment that appears by some market participants are showing frustration over the fall of the dollar without stopping.

 

Trichet also told the two Finnish newspaper that he did not see a significant second-round inflation, encouraging traders to dump the euro against the dollar long position, although many traders think the dollar will remain under pressure from the perception that the U.S. central bank reluctant to tighten policy.

 

"I do not want to consider this matter sepeleh, that Trichet talked about the dollar not the euro. European policy makers to be shocked when the euro rose above $ 1.45 in 2007 and they began to control the dollar fall season," said Minori Uchida, a senior analyst at Bank of Tokyo-Mitsubishi UFJ, adding that policy makers in the world are increasingly worried about the fall of the dollar.

 

The euro fell 0.4 percent to $ 1.4523, slipping further from the highest 16-month peak of $ 1.4649 last week. The euro has been rising steadily this year and seen from the correction.

 

Against the yen the dollar slipped to the lowest in four weeks? 81.56. Yen was sold earlier this month because traders think the quake-hit Japan is less likely than the United States to tighten monetary policy in the future. That is the only major currency in which speculators holding short positions against the dollar last week, according to CFTC data.

 

Dollar index against six major currencies DXY rose. Approximately 0.3 percent today to 74.23, pulling away from the 3-year low as 73.735 last week.

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News and Reviews European Economic Zone (UK)

 

British Economy Grows 0.5% In First Quarter

Wednesday, April 27, 2011

 

Britain Economy grew moderately in the first quarter of the season hitting the snow-fall in the previous 3 months, but the weakening of the recovery would increase the question of whether the economy can withstand the government cut its entry into force this year.

 

Gross domestic product (GDP) grew 0.5% in the first quarter of 2011, recovered from down 0.5% in the last quarter of 2010, the Office for National Statistics (ONS) said on Wednesday (27 / 4).

 

That means that, discounting the effects of heavy snow in December, the economy made ​​no progress since September 2010, said the ONS.

 

Chancellor of the Exchequer George Osborne has banked on economic growth continues, driven by the private sector, as he pushed up to GBP111 billion in spending cuts and tax increases reduce the public deficit.

 

Wednesday figures showed the economy in a fragile state. The ONS said growth in the first quarter comes basically from the service sector, which grew 0.9% - the fastest since the fourth quarter of 2006 - thanks to expansion in business services and finance.

 

Manufacturing and other industrial production grew 0.4% in the quarter.

 

But this expansion has been marred by construction output, which contracted by 4.7% - a sharp fall in output since the first quarter of 2009.

 

Economist dipolling Dow Jones Newswires last week in anticipation grew at 0.6% in the quarter and 1.8% compared with the same period in 2010.

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News and Reviews European Economic Zone (Switzerland)

 

Credit Suisse Hit With Market Power Tanguh Swiss Franc

Wednesday, April 27, 2011

 

Credit Suisse Group (CS) said Wednesday that first-quarter net profit fell 45% as a choppy market and the strength of the Swiss franc against the euro and the dollar reduced earnings in private companies and investment banking

 

Zurich-based bank said net income for the three months fell to 1.14 billion Swiss francs (1.31 billion U.S. dollars), from CHF2.06 billion a year earlier, including previously disclosed costs of CHF467 million after tax on the value of own debt.

 

Like rival UBS AG (UBS), which reported first-quarter earnings Tuesday, Credit Suisse declined overall revenue as fixed-income sales and trading fell. bank's core earnings fell 13% to CHF7.81 billion from first quarter last year.

 

However, analysts said the decline in fixed income - which includes business with interest rates and mortgage securities - is not as fierce some expected. Bank Vontobel said the decline was softer-than-feared, adding that stock trading is conducted properly.

 

"Defeating driven by strength in fixed income is more than compensated for a small miss in the management of wealth as a strong net new money offset by weaker margins because most of the strength of the Swiss franc.," Said Nomura analyst Jon Peace. He rates the shares neutral with a target price of CHF45.

 

Credit Suisse was cautiously confident in his views. "We expect the market environment to remain constructive. We also expect clients to stay active with increased appetite for higher return assets and advisory services are comprehensive," said Chief Executive Brady Dougan said in a statement.

 

This bank is also optimistic about the meeting rigid regulations coming into force gradually, and says it is well positioned to cope with strict regime. The two major Swiss banks face much more severe rules of the Swiss capital, which forced UBS shows the hand in terms of scaling back some investment banking activities. Rules dictate that must set aside capital against risky activities, which the banks are complaining will reduce profits.

 

Credit Suisse has taken a sharply different tack from UBS in Switzerland dealing with the bill, which was sent to parliament last week. Credit Suisse tapped contingent convertible bond market in February with the problem billion CHF6 to existing investors and offer a $ 2,000,000,000 public shortly after. Coco bonds automatically converted into common-capital when the bank's equity ratio falls below a certain level, and was encouraged by the government and the Swiss National Bank as a capital safety.

 

Meanwhile, UBS, which Tuesday reported 18% decline in profit for this quarter, has promised to withhold dividends that support to go while saving benefits to meet the tougher capital rules of Switzerland, rather than a problem Cocos.

 

Credit Suisse's compare results with those from U.S. rivals such as Goldman Sachs Group, Inc. (GS), Citigroup Inc. © and Bank of America Corp. (BAC), where profit for the quarter slid. Britain's Barclays PLC (BCS) on Wednesday reported a sharp decline in revenues at investment banks in the first quarter led to a decrease of 9% profit before tax group. German fixed-income giant Deutsche Bank AG (DB) is scheduled Thursday.

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UK Economy News and Reviews

 

UK Consumer Confidence Index Down

Thursday, April 28, 2011

 

UK consumer confidence index plummeted to its weakest level since the recession in February 2009. GfK NOP Ltd reported on Thursday (28/04).

 

Cuts in government programs seems to have an impact on consumer purchasing power. Sentiment index fell to minus 31 in April or worse than the March record (minus 28). Annually, the consumer confidence index had fallen from the level of minus 16.

 

British household budget that has been depressed by inflation exceeded the central bank's target, 2%. In addition, the largest fiscal tightening since World War II also weigh on consumers. But the economic expansion of 0.5% in the first quarter is considered quite mengimbang cessation of production in the previous 3 months, due to extreme weather.

 

"Reduction of these data is bad news for the economy, particularly the government," said Managing Director of GfK Social Research, Nick Moon. Thus, Moon warned of potential new double-dip on British soil. GfK report raises expectations the BoE to hold interest rates at a low level of 0.5% in order to support recovery

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Finnish Economy News and Reviews

 

Nokia will be laid off 4000 Workers

Wednesday, April 27, 2011

 

Manufacturers of Finnish mobile phone giant, Nokia Corp., on Wednesday said it plans to cut 4000 workers and Symbian software development projects divert it to Accenture as the company's efforts to reduce operational costs and accelerate the smartphone business.

Layoffs were part efforts achievement Nokia, which is expected to cut about? 1 billion in operating costs and service division of the main equipment until 2013. Most of the layoffs will be carried out in Denmark, Finland and the UK, with all employees affected by layoffs will still get his wages until the end of the year, Nokia added.

 

The company is also overhauling the central research and development, so that each has a clear target. Nokia recently has received much criticism over the lack of progress was achieved from the capital of? 3 billion spent on R & D every year.

 

"Nokia's goal in the future becomes more clear with the target to maintain leadership in the smart device market, mobile, and overcome the risk of disruption in the future. But it all must be accompanied by a reduction of labor, a fact that is difficult," said Stephen Elop Chief Executive in a statement.

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UK Economy News and Reviews

 

Beware Support Sterling 1.6624

Friday, April 29, 2011

 

Sterling slid to the support area at 1.6624. Tembusnya support is expected to cause the correction to continue until the next support area at 1.6550, or trendline Accelerating the area marked by the dashed green line. The estimate is because until recently the stochastic and the CCI in graph 4 hours still maintain their bearish signal. However, if the support at 1.6624 and CCI stohcastic last until 4 hours have reached the oversold area, then chances are sterling will go up to test resistance in the area of ​​1.6744.

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Spanish Economy News and Reviews

 

Spain's Unemployment Rate Worst Since 1997

Saturday, April 30, 2011

 

MADRID - Spain's unemployment rate soared 21.3 percent in the first kaurtal this year. As many as 4.9 million people registered to lose his job, where the figure is the highest figure since 1997.

 

Unemployment during the period from January to March rose one percent from 20.3 pesren at the end of 2010, and increase the pressure on Spain. The Spanish government is now trying to recover from the recession that has been more than two years and tried to convince investors that all this could overcome the problem of heavy debt.

 

"The country is struggling to shift from dependence on the construction sector, which supported growth for many years until the financial crisis emerged Spanish real estate bubble, and make the economy more competitive and reduce the national debt," said the Spanish government as quoted by AP, on Saturday ( 04/30/2011).

 

Currently, the number of people who lost their jobs to reach 4.9 million by the end of March, rising by 214 thousand compared to the previous quarter. As for those who lose jobs which are from the service sector, agriculture, manufacturing, and the highest is the construction.

 

This increase was bad news in my family life, especially for households. For as is known, the prices of basic commodities also increased.

 

Spain itself is forecast to experience growth that is not too large during the year 2011, only approximately 1.3 percent. So the government expects the availability of new jobs to be able to increase economic growth in the second semester of this year.

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UK Economy News and Reviews

 

Strengthening Pound Still Continues Despite Down UK Consumer Data

Monday, May 02 2011

 

UK fundamental data that UK consumer confidence index plummeted to its weakest level since the recession in February 2009. GfK NOP Ltd reported

 

Program pruning the British government seems to have an impact on consumer purchasing power. Sentiment index fell to minus 31 in April or worse than the March record (minus 28). Annually, the consumer confidence index had fallen from the level of minus 16.

 

British household budget that has been depressed by inflation exceeded the central bank's target, 2%. In addition, the largest fiscal tightening since World War II also weigh on consumers. But the economic expansion of 0.5% in the first quarter is considered quite mengimbang cessation of production in the previous 3 months, due to extreme weather.

 

For the movement of Pound himself, after the currency had weakened slightly in early Asian trade, currencies bounce back. The pound is open at 1.6629 and is currently in the range of 1.6650.

 

According to Anton Kloganov, analysts ForexMillion. "The currency traded sideways. Strengthening continues. While the level

Resistance at 1.6675 and then 1.6880, "The weakening currency will be below the support level at 1.6630, and 1.6520 level.

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News and Reviews European Economic Zone (Greece)

 

ECB Officials Open In Greece Extends Debt Maturity

Tuesday, May 3, 2011

 

ECB policy maker Nout Wellink said on Monday that he was open to the idea of ​​extending debt maturities in Greece, a senior ECB officials first publicly acknowledged this possibility.

 

Wellink, a member of the ECB's Governing Council, said that he opposed cutting the principal Greek bonds. But unlike other ECB policy makers, who have rejected any talk of debt restructuring as something dangerous, he added that it might make sense to extend the deadline for repayment of the principal.

 

Wellink did not specify how to reschedule Greece 327 billion euros of debt, and it is unclear whether his comments may signal a change in attitude on the ECB as a whole.

 

His term as president of the Dutch central bank will end on June 30, while his successor, who is not already selected, will take over the seats in the 23-member ECB's Governing Council.

 

Financial markets increasingly speculated that some form of debt restructuring may be necessary for the Greek economy is on the recovery path. Two German government adviser said on Saturday that restructuring is unavoidable.

 

But other ECB officials insist that any talks on the restructuring would be counter-productive, by making investors panic and exacerbate the market environment for debt ridden countries such as Ireland and Portugal.

 

For example, ECB Executive Board member Jose Manuel Gonzalez-Paramo said last month that Greece's debt restructuring would probably give more damage to the financial system than the collapse of Lehman Brothers' region in 2008.

[mynameisandhy]

UK Economy News and Reviews

 

Today's Economic Data Limit Sterling Strengthening

Tuesday, May 3, 2011

 

Sterling moved up from levels seen after previous correction had slumped due to the U.S. dollar rose after news of al-Qaeda leader killed Osama bin Laden by U.S. forces, but the news was not enough to change the trend in selling Euro lebh.

Market attention now began to focus on meeting the policy of the Bank of England on Thursday after tomorrow, in which the central bank is expected to maintain its interest rates again.

 

Although this situation does not give the spirit of the Sterling, but the market will look forward to a statement posed monetary officials in connection with the prospect of future policy.

 

And if non-farm payrolls number will appear under estimate America, this will add to the collapsed U.S. dollar, but menjad big opportunity for Sterling to strengthen further

 

But British economic data that will appear today are expected to give a weaker figure, so that this condition will limit the movement of sterling.

 

UK economic data released today which will include predictable CIPS Manufacturing PMI fell to 56.9 from 57.1 previously, the CBI Distributive Trades predicted the index fell to 13 from the previous figure 15.

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Berita dan Tinjauan Ekonomi Zona eropa (Inggris)

 

Lagi, Sterling Ciptakan Level Rendah Baru

Rabu, 04 Mei 2011

 

PADA hari Selasa (04/03), mata uang Poundsterling turun rendah tingkat menembus. Suami Hari (04/05), GBP Dilaporkan mencatat Rekor rendah mingguan di 1,6450. Sterling anjlok ke Bawah Dari 1,6650 1,6500 KESAWAN 24 jam.

 

Selepas pertengahan sesi di amerika Serikat (AS), mencoba sterling Masuk ke area 1,6550, Lalu Dilaporkan turun. "Grafik per Indikator menunjukkan jam berada di Bawah harga Tengah Dilaporkan dan Masih di Bawah KUAT tingkat SMA 20," ujar Valeria Bednarik Dari FXstreet.com Saccharin Grafik. per 4 jam menunjukkan momentum bearish Yang lebih KUAT.

 

"Dukungan KUAT berada di wilayah 1,6430, tingkat Dimana sterling membukukan beberapa tingkat rendah dan beberapa Terakhir KESAWAN Tinggi Minggu," Tambah Bednarik Jatuh Dari. tingkat koreksi tersebut menandakan untuk perdaganga beberapa hari ke Depan Level Saat. dukungan Suami berada di level 1,6460, 1,6430 dan 1,6385 Tingkat perlawanan. terletak di 1,6510, 1,6550 dan 1,6590.

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News and Reviews European Economic Zone

 

Moving euro weakens, Failed Skip Highest Level in 16 Months

Wednesday, May 4, 2011

 

 

In trading in Asia today looks the euro recorded a decline against the U.S. dollar (04.05). The euro moved lower after the trade last night had again attempted to test the highest level in 16 months. Asian stocks decline resulted in market participants chose to hold back a safe haven currency.

 

The euro seems to experience a fairly volatile trading session yesterday. Portuguese Prime Minister Jose Socrates declared that his country has reached an agreement with the IMF and the EU to receive aid worth 78 billion euros within three years. Euro looks depressed along with the return of worries about the eurozone's debt crisis.

 

On this day seemed euro fell to 1.4775 dollars reached position. Euros at the close of trading early this morning in the position of 1.4819 dollars. The highest intraday level that could be achieved by the euro was 1.4890 dollars.

 

Analyst Research from Vibiz Consulting Vibiz still see the possibility of the euro will decline against the dollar. Despite this decline in these currencies are likely to be limited. Investors appear to still be waiting for the release of the U.S. manufacturing sector data to take a position. It is estimated that today the euro would tend to experience movement in the range 1.4750 - 1.4890 dollars.

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News and Reviews European Economic Zone (UK)

 

Pound 1.6500 Suspended Under Post-BoE

Thursday, May 5, 2011

 

Cable corrected nearly 100 pips from the high level to low level of daily print slightly above 1.6450 in European trading session on Thursday, although later able to recover to an area of ​​1.6500. Currently, GBP / USD shows little bearish trend after the BoE to hold interest rates at 0.5%, and traded in the range of 1.6495 as markets await ECB policy announcement.

 

Team analysis of ForexMansion.com warned that "The market still looks weak, and it seems to continue. Couple this currency will probably try approaching strong support in the 1.63 area, which brings excellent opportunities to buy."

[mynameisandhy]

News and Reviews European Economic Zone

 

Euro Rally stopped by German Data

Thursday, May 5, 2011 17:06 pm

 

Strengthening of the euro after data loss sinyalkan reduced activity in the EU's largest economy. German factory orders fell 0.4% for the month of April 2011, worse than the predicted increase of 0.4%. Publication in March were also revised lower from increased 2.4% to 1.9%. There is a decline in investment demand as businesses re-examine the fragility of the global recovery and strengthening of the euro that have the potential grogroti export performance. Outlook domestic demand is also not so good in the middle of the oil and commodity price hikes and rising inflation.

 

The euro is now trading 1.4832, stay away from high levels of daily 1.4898. Nevertheless, traders are still awaiting the results of the ECB meeting and press konverensi ECB's Trichet later tonight in search of evidence of the continuing central bank rate hike

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UK Producer Prices Rise Fastest From April Expectations

 

Friday, May 6, 2011

 

 

UK factory prices rise at faster than expected in April, rose by a record driven price increases in clothing.

 

Prices charged by manufacturers at the factory gate rose 5.3% this year through April, the Office for National Statistics (ONS) said on Friday (6 / 5). That's down from 5.6% the previous month, but failed until the biggest drop to 5.2% economists predicted that dipolling Dow Jones Newswires last week.

 

The costs faced by producers also rose sharply. Inflation input memeprcepat to 17.6% in the year to April, the fastest since September 2008 and up from 14.8% in March.

 

Keeping prices high is output rose 3.4% in core output prices, which remove volatile items like food, beverages, tobacco and petrol. The size of the core was driven by a record strong year on year increase in clothing prices at 4.6%. Sustainability trend of 6 months because of rising inflation for clothing, said the ONS.

 

The Bank of England (BOE) may be feared by signals strong inflationary pressure in the channel. Bank on Thursday left key interest rates unchanged for 26 months took place in low all the time at 0.5%, after a series of weak economic data.

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Greece has been Improving the Likelihood of Exiting the Euro Zone

 

Friday, May 6, 2011

 

Greece has raised the possibility out of the euro zone in discussions with the European Commission and other member states in recent days, Spiegel Online, Germany reported on Friday.

 

The magazine said the euro zone finance ministers meet in Luxembourg on Friday to discuss the Greek crisis and that the possibility of debt restructuring will be on the agenda of the meeting.

 

"The government has raised the possibility of leaving the euro zone and re-introduce its own currency," the report said, without mentioning the source.

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Worried Abandoned Greece, Euro Fatigue

 

Monday, May 9, 2011

 

For short-term EUR / USD likely to weaken in the range of 1.4220.

"The problem of the euro zone debt still steal the show. Expectations of further ECB rate hike is reduced to the current and dollar short position is liquidated," according to Teppei Ino, senior analyst at Bank of Tokyo-Mitsubishi UFJ.

 

Euro zone and government officials refused Greek news mentioning that Greece is considering to leave the euro zone. If this happens, the Greeks certainly will not be able to pay off debts and will trigger other countries to follow the Greek, "according to Ino. EUR / USD at 1.4384.

[mynameisandhy]

Review of economic zone europe (greece)

 

Greece wants the loan interest relief

9/May/2011

 

Jakarta, Strategydesk - Greece wants a reduction in the interest rate it receives financial assistance from the IMF and the European Union, the German newspaper Die Welt reported today, citing sources related to the negotiations.

 

According to the newspaper, Greece also asked for leniency on the requirements set by the two institutions in the bailout agreement, because it is still the economic burden. Athens hopes the deadline given to reduce its debt to 3% of GDP from the previous two years was extended in 2014.

 

Prime Minister of Greece George Papandreou on Saturday denied that the Greeks consider to get out of the euro and requested his country should not diganggung to complete the task.

 

The statement came after news of the newspaper Der Spiegel that said Greece wanted to get out of the currency bloc. In addition to the Greek Prime Minister, other officials denied the report is the Chairman of the Eurogroup Jean-Claude Juncker.

 

Over the weekend, appeared opinion on the question of Greece, one of the Ifo Institute Chairman Hans-Werner Sinn. According to him, when the Greeks out of the euro, the country will be able to devalue its currency and become more competitive. But if the Greeks do an internal devaluation by cutting wages and prices of 20-30%, the country could be on the verge of civil war.

 

Other views come from economists affiliated with High Frequency Economics, namely Carl Weinberg. According to him, the issue of Greece out of the euro ridiculous.

 

Experts had predicted a year ago Greece will have to restructure its debt, now believes Ireland and Portugal will meet the same fate. "We've warned that Greece will not be able to follow the requirements, and such a crisis is inevitable," he said.

 

"Restrukturiasai could happen with how easy or hard way. An easy way through a planned restructuring program, how hard is that which is Greek right now, "he added.