Hong Kong (AFP) - The euro sank to an 11-year low Monday but Asian equities largely recovered from early losses after an anti-austerity party won Greece's election, throwing its international bailout into doubt and raising fears it could leave the eurozone.
NEW YORK: Oil prices tumbled on Wednesday as traders weighed Greece's deepening debt crisis and a surprise increase in US crude-oil inventories. US benchmark West Texas Intermediate (WTI) for August delivery dived $2.51 to $56.96 a barrel, its lowest level in more than two months. Brent North Sea crude for August closed at $62.01 a barrel in London trade, down $1.58 from Tuesday's settlement. "The petroleum markets are back on the defensive, with ongoing uncertainty over Greek debt and solid US payroll gains" that helped push up the dollar, said Tim Evans of Citi Futures.
OTTAWA — In an environment of low-for-longer interest rates, and global economic uncertainty, the persistent concern of Canada’s monetary policymakers remains in its own backyard: household debt.
Even so, the Bank of Canada continues to be focused on other major risks to the country’s economy and financial system, as well as likely to be caused by external events — such as stresses in emerging economies, financial concerns in the eurozone and possible sharp increases in long-term interest rates.
Hong Kong (AFP) - Tokyo's stock market clocked up a ninth straight gain Wednesday thanks to a weaker yen while Shanghai jumped for a seventh session as investors bet on China unveiling more economy-boosting measures.
London (AFP) - The euro tumbled Tuesday towards a 12-year dollar low, hit by eurozone stimulus, growing US rate hike speculation and Greek debt concerns, dealers said.In morning London deals, the European single currency sank to $1.0735 -- the lowest level since mid-April 2003. The region's stock markets were lower.
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.
Hong Kong (AFP) - The dollar edged closer towards parity with the euro Thursday after the European Central Bank kicked off its stimulus programme this week, while Asian equity markets recovered slightly from a recent sell-off.
LONDON: Oil hit four-month lows on Monday after a steep drop in Chinese stock markets spread concerns about the economic health of the world's biggest energy consumer and more evidence emerged of a global supply glut. Chinese stocks tumbled more than 8 percent on Monday, the biggest one-day drop in eight years, showing an unprecedented government rescue effort to prop up valuations has run out of steam. "Today's oil price fall has been driven by the slump in Chinese stock markets," said Carsten Fritsch, senior oil market analyst at Commerzbank in Frankfurt.
Federal Reserve officials have become more concerned about weak growth overseas and the impact of a strengthening U.S. dollar on the domestic economy, warns WSJ Fed-whisperer Jon Hilsenrath, adding that, the stronger currency, by reducing the cost of imported goods and services, could hold U.S. inflation below the Fed’s 2% objective. Fed staff also reduced its projection for medium-run growth in part because of these concerns.
John M. Mason submits: On December 21, 2010, I made the following brash prediction, " ... my view of long term Treasury yields for 2011 is up, with the 10-year Treasury security reaching 4.5-5.0% in the upcoming year, a rise from around 3.3% to 3.5% now." I still believe that this is where the yield on the 10-year Treasury security should be.