by: Pedro Orta The dollar initially traded lower against the euro and the Japanese Yen after Thursday’s U.S. data release. At the time of this article, the dollar is trading at 1.2796 vs the euro and 94.25 vs the yen.
Cyprus did not manufacture its banking crisis. The European Central Bank and European Union bear that responsibility, yet Cypriots will pay the price for their dysfunctions. Until recently, Cyprus was a prosperous island economy with robust tourism, shipping and a significant international banking sector. Its big banks, like others in Europe, attracted large overseas deposits [...]
by Pedro Orta The euro continued yesterday’s decline to hit a 4-month low against the dollar during the early New York trading session on Wednesday. The pair has traded lower by 0.72% to hit a low at 1.2761 on concerns that a Cyprus deal could hold private investors responsible for future euro zone bailouts. The [...]
Easter is a celebration of springtime rebirth-a good time to enumerate reasons for optimism and the tasks necessary to accomplish America’s potential. The U.S. economy is in renaissance. The wrenching recession and halting recovery have masked a major restructuring ignited by technology and good-old- fashioned market forces. Typewriters and toys have become a powerful competitive [...]
Cyprus would be better off to leave the euro than accept the terms of the bailout imposed by the European Union, International Monetary Fund and European Central Bank. Until recently, Cyprus was a prosperous island economy thriving through strong tourism, shipping and maritime related activities, and a significant international financial sector. Its major banks have [...]
Here are the forecasts for upcoming economic data.
by Dixon Fung After two days the FOMC meeting concluded without any major changes taking place in the Fed’s Policy. A low interest rate environment is expected to remain in place until 2015. The Euro/USD recovered a bit and held on to today’s gains after the FOMC announcement.
Gold is moving higher as the Cyprus bank depositors are being robbed by the government. The possible bank levy is being debated by the Cyprus government at the time of this article is being written; disregarding the outcome, the thought of this levy being entertained is outrageous. Forget about the run on the banks and [...]
A levy on Cyprus bank deposits sends shock waves to the global markets; the Euro/USD was more than 100 points lower on Sunday’s opening and the Asian equities were more than 2 percent lower. The proposed 6.75 percent levy on deposits up to 100,000 Euros and 9.9 percent on deposits above that sets a very [...]
Conservatives believe promoting economic growth and maximizing personal liberties best empower individuals and advances social progress. Yet, Republicans keep losing elections, because their policies are too often perceived to be unfair and prejudiced. History teaches spending less and regulating only as much as necessary, best promotes growth and creates good-paying jobs. Liberals alibi Barack Obama [...]