Reuters - The euro sank to four-year lows on Monday as stocks and commodities fell after disappointing U.S. jobs data and angst about euro zone debt problems fed fears the world economy may falter in its recovery.
Late yesterday, after Nobel peace prize-winning president Obama revealed his latest military incursion, years of pent up can-kicking almost caught up with futures, which dared to tumble by a whopping 0.7%, a move which hit Europe far more than the US, and shortly after Europe's open, the Euro Stoxx 50 Index dropped 10% from its 2014 high, marking an official correction in Europe where the Dax continues to be the key risk indicator, and which dropped as low as 8,903 before recovering to a drop of only 0.9% while German Bunds continues to print record highs day after day on f
LONDON, June 9 (Reuters) - World shares were within touching distance of an all-time high on Monday, spurred on by the potent combination of record low global interest rates and the improving health of major economies.
If yesterday morning, the key macro data was the current , and projected, weakness in China (whose record jump in FX deposits indicates fears about capital outflows are alive and well, and that the highest currency depreciation risk in 2015 is for none other than the Chinese currency), then overnight we got more economic data out of Europe that, at least for now, suggest that the collapse in the Euro is boosting European factory order, with German Industrial Production not only beating expectations, but the prior month being revised from 0.1% to 1.0% - the fifth consecutive increase in prod
Hong Kong (AFP) - Oil prices continued their downward spiral to fresh five-and-a-half-year lows Wednesday, leaving equity markets struggling to recover after a recent sell-off, while Greek political turmoil sent the euro skidding.
Hong Kong (AFP) - Asian markets tumbled Tuesday following painful losses in New York and Europe while the euro sat near nine-year lows as political uncertainty in Greece fanned renewed fears it could leave the eurozone.
BRUSSELS — The spillover effects of the U.S. central bank unwinding its policy stimulus risk being greater now than in 1994, and that episode highlights the importance of clearly communicating exit strategies from expansionary policies, an ECB policymaker said.
The Federal Reserve is expected to start slowly reducing its bond purchases when it meets later this month, beginning to unwind a policy that has helped foster recovery in the world’s largest economy and buoyed financial markets.
Brian Dolan submits: After consolidating for much of this past week, the USD surged again to finish the week at new recent highs. The gains came in the wake of a disappointing US weekly jobless claims report and a shocking drop in the July Philadelphia Fed Index of local manufacturers, which fell to -7.7 from +5.1 in contrast to forecasts of gain to +7.0. USD strength in the face of weaker US data again illustrates the role of the USD as a safe haven currency.
If there's been a single dominant theme driving global markets this summer, it's been the prospect that the Federal Reserve will taper back the amount of monthly bond purchases it makes under the quantitative easing program it introduced in September 2012. There's been a huge sell-off in the U.S. Treasury market, which has in turn driven a broader sell-off across global bond markets, and notably, a brutal unraveling of emerging-market currencies, stocks, and bonds.