More Concerns in Europe
The Euro has gone down again as the concerns in Europe resurface again and there’s high uncertainty in the markets with the eyes set on the European summit on the 28th and 29th of June. The Euro has plummeted as [...]
Trichet May Surprise Traders with New Fairy Tales
On Europe, traders are bulled up ahead of the ECB Thurs morning (we get the policy statement, which is usually a non-event, at 7:45amET, and the more important press conf @ 8:30amET), w/many thinking that Trichet will present something (either [...]
Top Stories on Ireland
Ireland downgraded by S&P (out Tues night) – Standard & Poor’s Ratings Services said today that it lowered its long-term sovereign credit rating on the Republic of Ireland to ‘A’ from ‘AA-’ and its short-term rating to ‘A-1? from ‘A-1+’. [...]
Today’s Top Stories: Shanghai falls ~2% $CAF, North Korean and South Korea at War
North Korea shells a South Korean island, killing one South Korean marine and wounding several others; South Korea has scrambled fighter jets to the area and raised its military alert to the highest level. South Korean president Lee Myung Bak [...]
Chinese President is Not Drinking the Kool Aid on the Global Economic Recovery; Banks will Stop Extending New Loans
Chinese President Hu Jintao said on Sunday significant uncertainties remain about a global economic recovery and warned that trade protectionism had “risen notably”. Reuters China – the country may consider a series of measures aimed at preventing “hot money” from [...]
Japanese equities led Asia lower, falling nearly 3.5% and re-testing the 52 week lows of last week’s trading $EWJ
Japanese equities led Asia lower, falling nearly 3.5% and re-testing the 52 week lows of last week’s trading. The bottom line on the weakness is that markets don’t feel the actions taken by the BoJ (expanding the bank-loan program) and [...]
