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Day: February 14, 2013
February 142013
Euro Drops as Recession Fears Re-Emerge
Recession fears are back for the eurozone, and that is weighing on the euro today. Worries about recession, as well as speculation that a rate cut could be coming from the European Central Bank, are sending the 17-nation currency lower today. Forex traders were surprised today as the information about GDP from the fourth quarter of 2012 was released for the eurozone. Expectations were for a contraction of 0.4 per cent, but, instead, the contraction […]
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February 142013
Czech Economy Stays in Recession, Keeps Koruna Weak
The Czech koruna declined today as the nation’s economy remained in recession. Combination of the domestic weakness and the problems of the eurozone, which hurt prospects for Czech exports, suggests that the economy will not return to growth soon. The Czech Statistics Office reported that Czech gross domestic product shrank 0.2 percent in the fourth quarter of 2012 from the previous three months, registering the fourth consecutive quarterly decline. The report revealed that the weak domestic […]
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February 142013
Forint Hurt by Hungary’s GDP & CPI
The Hungarian forint fell today as worsening recession of the country’s economy and slowing inflation made traders speculate about an interest rate cut in the near future. Hungarian gross domestic product fell 2.7 percent in the fourth quarter of 2012 from a year ago, the biggest drop in three years. The decline followed the 1.9 percent fall in the third quarter. Inflation was 3.7 percent, slowest since September 2011. Poor reports were expected, […]
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February 142013
Yen Higher Today, But is More Weakness Coming?
Japanese yen is higher today, gaining due to its status as a safe haven as concerns about the global economy once again take center stage. However, the latest economic data from Japan suggests that more weakness could be coming for the yen. Yen is higher today as risk assets drop in the markets. Concerns about the eurozone GDP are rising, and even though jobless claims dropped in the United States, […]
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February 142013
NZ Dollar Jumps with Manufacturing & Consumer Confidence
The New Zealand dollar rose as the expanding manufacturing sector and improving consumer confidence lead to speculations that the nation’s central bank will keep interest rates stable. The BNZ-BusinessNZ seasonally adjusted PMI rose 4.8 points from December to 55.2 in January. It was the highest reading since May. The ANZ-Roy Morgan Consumer Confidence measure climbed 2.7 points to 121 in February, reaching the 32-month high. The New Zealand economy was […]
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February 142013
Pound Drops After Inflation Report
The Great Britain pound fell after the Inflation Report of the Bank of England. Additionally, the BoE Governor Mervyn King suggested that the economy will likely remain weak and will face “big challenges”. King indicated that policy makers are not shy with pushing quantitative easing: If necessary, we will do more. We must recognize, however, that there are limits to what can be achieved […]
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