July « 2011 « AutomaticForex

Italian Pres Berlusconi:Does not think confidence vote needed to support austerity measures
[…]
Italian Econ Min Tremonti says elements of austerity package also reinforce 2011 budget
Measures will cut 2012 deficit/GDP to 1.4% in 2012,zero in 2013 Pension measures will create savings of around 1 bln euros in 2012 No alternative to these austerity measures […]
ForexLive U.S. Wrap:Stocks help risk return,but currencies aren’t interested
US July retail sales +0.5% Roubini warns of Global recession risk Fed’s Kocherlakota:Dissented from FOMC decision because saw no need for more accommodative policy Dutch PM says countries such as Greece and Italy have not moved quickly enough to strengthen thier economies Univ of Michigan consumer sentiment prelim Aug 54.9 US June business inventories […]
Italian cabinet approves austerity plan
That was quick! some one tell the Dutch PM..!.. […]
White House:Strongly disagrees with court decision on healthcare law,is confident the decision will not stand
Believes healthcare act will ‘ultimately be upheld as constitutional’ This was always going to be a sticky issue.,but the response from Obama Inc was a given. […]
Spain’s Econ Min:Expects Merkel,Sarkozy to announce commitment to improve euro governance
Cannot rule out other countries to join short ban in next few days Deficit ,reforms absolute priority,over growth […]
Italian Austerity Plan includes ‘solidarity tax’
Set at 5% on incomes over Euro 90k ,10% on incomes over Euro 150k Brings forward date for increased retirement age for women in private sector to 2015 from previous date of 2020 Plan to lift tax rate on financial income to 20%,except on Government bonds […]
US Appeals court rules that President Obama’s healthcare law’s individual mandate to own health insurance ‘unconstitutional’
Court rules that rest of Obama healthcare law can stand without the individual mandate Rules in favour of 26 US states that challenged requirement americans buy health insurance […]
French Money regulator AMF to launch probe into Societe Generale market rumours- RTL Radio
[…]
Dudley Q/A:Don’t Expect Double-Dip Recession,But Risks Up
–NY Fed President:Slower Growth,High Unemployment Give Pause –But Still Expect Faster Growth in Second Half 2011 –S&P US Downgrade Should Reinforce US Commitment to Fiscal Reform –US Treasury Market Shows No Doubt Re Fiscal Reform Commitment –Retail Sales a Little Better Than Expected By Claudia Hirsch NEW YORK,Aug 12 (MNI) – New […]
S&P may cut Cyprus BBB+ long-term,A-2 Short-term sovereign credit ratings
Says no longer believes Cypriot fiscal position is sustainable after break up of government coalition Questions ability of Government to meet 2012 ‘ambitious’ 2.5% debt- to- GDP ratio Believes Cypriot banking system capacity to absorb shocks from Greek sovereign debt crisis ‘is not unlimited’ […]
ONS Corrects UK Q2 Construction Data To 0.5% q/q Vs 2.3% q/q
–UK Q2 Construction Output To Have No Impact On Initial GDP Estimate LONDON (MNI) – National Statistics said construction output in the second quarter rose by just 0.5% on the quarter,correcting its earlier error when it announced it had risen by 2.3% on the quarter. The revised data mean the latest quarterly estimate is […]
Fed’s Dudley:Hopes S&P downgrade ‘shot across the bow’,if you don’t do what’s needed in timely way,will reinforce commitment to long-term fiscal consolidation.
[…]
Fed’s Dudley-”We do not expect a double-dip recession,” Expects economic recovery
[…]
Euro lower into London fixing…
Not sure there has been any specific interest into the Fix,but euro’s slide down from 1.4250 kicking in a few stops down through 1.4230. Traders saying liquidity now drying up pretty fast . Euro’s at 1.4218 […]

TEXT-Text of euro zone summit statement

By zagros,on July 21st,2011%

(Reuters) -Following is a statement issued by euro zone leaders after an emergency summit of the 17-nation currency area on Thursday.

STATEMENT BY THE HEADS OF STATE OR GOVERNMENT OF THE EURO AREA AND EU INSTITUTIONS

We reaffirm our commitment to the euro and to do whatever is needed to ensure the financial . . . →Read More:TEXT-Text of euro zone summit statement

U.S. Dollar Comes Up Against Support,Euro Rally Could Be Short-Live

By zagros,on July 21st,2011%

Companies:Dow Jones FXCM Dollar Index Topics:Currencies David Song,On Thursday July 21,2020,12:08 pm EDT

The Dow Jones-FXCM U.S. Dollar index tumbled to a fresh monthly low of 9457.89,and the reserve currency may struggle to hold its ground throughout the North American trade as investors raise their appetite for yields.

British Pound Breaks Through Channel Resistance – Target at 16420

By zagros,on July 21st,2011%

Companies:GBP/USD Topics:Currencies Related Quotes Symbol Price Change GBPUSD=X 1.6310 +0.0158 Jamie Saettele,On Thursday July 21,2020,12:06 pm EDT

240 Minute Bars

Prepared by Jamie Saettele,CMT

“The GBPUSD appears on the verge of breaking above its short term bearish channel. The rally from 15780 is sharp and impulsive . . . →Read More:British Pound Breaks Through Channel Resistance – Target at 16420

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TEXT-Text of euro zone summit statement

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U.S. Dollar Comes Up Against Support,Euro Rally Could Be Short-Live

British Pound Breaks Through Channel Resistance – Target at 16420

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