Weak data from Germany fanned fears that the European Central Bank might cut interest rates. As a result the euro fell to a three week low. A survey conducted by a German think-tank, Markit, revealed a drop in business morale in the eurozone’s largest economy…
Read More Daily Market Review, Euro, Eurozone, Financial Daily Review, Financial NewsFinance ministers are meeting in Dublin on Thursday to discuss bailout terms for Cyprus. Recent reports suggest that Cyprus needs to cough up and additional 6 billion euros to get the rescue package. The total bailout might rise to a total of 23 billion euros which would be more than the size of the entire Cypriot economy…
Read More Daily Market Review, Euro, Eurozone, Financial Daily Review, Financial NewsThe Bank of Japan’s easing polices prompted the euro to rise against the Japanese currency as speculations that Japanese investors would transfer their activities abroad were running wild. Interestingly, Japan’s monetary easing policies have taken the onus away from the eurozone’s worsening uncertainties as the single currency strengthened across the board on Wednesday.
Read More Daily Market Review, Euro, Eurozone, Financial Daily Review, Financial News, YenLacklustre US data led to euro strengthening against the dollar while Oil prices climbed on Tuesday. The rise in oil can be attributed to euro’s recovery against the dollar because oil, which is traded in dollars, is automatically correlated with any price changes on the dollar. The single currency climbed to $1.3047 late Monday…
Read More Daily Market Review, Euro, Eurozone, Financial Daily Review, Financial News, USDEurozone sentiment fell due to concerns over Cyprus and the looming banking crisis in Slovenia. The zone is currently stumbling from one crisis to another, simply trying to put out bush-fires to keep the fragile single currency afloat ahead of the coming storm. The Italian election pushed the consumer index down last month and the month April seems to be repeating the negative sentiments due to Cyprus and Slovenia…
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