By David Becker (eToro Blog) The Canadian Dollar struck its strongest level versus the U.S. Dollar in nearly seven weeks after Greek lawmakers approved the second implementation bill on an austerity plan to head off default. Government data showed that inflation in Canada rose last month to its fastest pace since 2003, while better than [...]
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By Barbara Zigah (eToro Blog) Crude oil traded marginally lower on Thursday closing at $94.69 per barrel off just -0.73 for the day. The commodity traded in a narrow range for most of the day with a high of $95.14 and a low price of $94.67. Thursday’s action contrasts sharply with trading on Wednesday that [...]
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By Emily Austin Benzinga Staff Writer The Japanese yen rose on Thursday on signs of economic recovery in Japan, following better than expected housing starts data. At the moment, the U.S. dollar lost 0.43% of its value to trade at ¥80.42, while the euro edged lower to ¥116.54, down 0.07%. The yen found strength in [...]
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By Barbara Zigah (eToro Blog) The citizens of Greece aren’t the only ones unhappy with austerity measures, it seems. It was reported earlier today that in the United Kingdom hundreds of thousands of public services workers are unexpectedly staging a 1-day general strike, which is likely to disrupt airline travel, schools, courthouses and other government [...]
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By Barbara Zigah (eToro Blog) China’s robust economy and artificially low exchange rate for the Yuan have made the Chinese economy one of the world’s leaders in terms of economic growth. In addition, China’s budget deficit of 17.5% of GDP in 2010 compares favorably with other world economies. In terms of debt-to-GDP, Japan leads the [...]
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By Barbara Zigah (eToro Blog) With yesterday’s Parliamentary passage of new austerity measures, the government of Greece has managed to step back from the precipice of default. By a vote of 155 for and 138 against the new measures, the Prime Minister, George Papandreou is on his way to obtaining the 5th and last loan [...]
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By David Becker (eToro Blog) Despite the ultra-low accommodative monetary policy set forth by the Bank of Japan, global risk appetite continues to be the drive of Yen strength. The Yen provides a negative carry against most of its counter currencies, but it is still at relatively high levels, compared to recent history. There are [...]
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By David Becker (eToro Blog) European stocks climbed yesterday as the Greek parliament passed additional austerity measures that drew the country closer to securing more aid and avoiding a debt default. Parliament still must vote later today to approve the implementing measures for the program. France’s CAC 40 index gained 1.9% to 3924.23, Germany’s DAX [...]
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By Barbara Zigah (eToro Blog) Forex trading was dominated during this week’s Asian sessions by the Greek debt crisis and concerns over the austerity measure vote which was held yesterday. The passage of these tough measures — in spite of local opposition and protests — gave the Greek government the go-ahead to start cutting costs [...]
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By Barbara Zigah (eToro Blog) Surprising analysts who had expected only a minimal move into positive territory, it was earlier reported by the U.S.-based National Association of Realtors that the pending sales of homes previously owned showed a significant improvement to 8.2%. The most recent consensus of economists had been forecasting only 0.8% growth from [...]
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