The euro dropped against most major currencies on Thursday following lackluster data from Germany and the ongoing banking crisis in Cyprus. The better-than-expected investor confidence witnessed yesterday turned sour on Thursday after chances for a rescue package between IMF, ECB and Cyprus looked unlikely…
Read More Daily Market Review, Euro, Eurozone, Financial Daily Review, Financial News, Oil, USDEuro bounced back on Wednesday as investors around the world regained confidence that Cyprus will be able to hammer out a deal with IMF and the eurozone countries. The euro was up 0.5 per at $1.2955, bouncing back from yesterdayβs $1.2843. The single currency remains vulnerable as Cypriot parliament rejected the planned tax levy on depositors, leaving the financial world anticipating the final result of the ongoing debacle…
Read More Daily Market Review, Euro, Financial Daily Review, Financial News, Oil, USDThe pair hit 1.2934 during late Asian trade, showing no signs of recovery as Cyprus is looking to deliberate the proposed depositor levy tax, strongly opposed by most Cypriots. Dollar also rose due to positive housing data from the US…
Read More Daily Market Review, Euro, Financial Daily Review, Financial News, Gold, USDThe recent bailout deal struck between the International Monetary Fund and the eurozone finance ministers has raised eyebrows all over the financial world. One of the terms of the strictly worded agreement forces Cypriot taxpayers to pay for the bailout directly from their savings accounts…
Read More Daily Market Review, Euro, Financial Daily Review, Financial News, Oil, Oil Pricing, USDThe euro gained on the dollar by closing on Friday after a pact by EU officials to deliver ailing counties an extension to reach the tough deficit goals. Additionally, prospects for the success of the Cyprus bailout gave d the single currency a much needed boost…
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