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Dollar Up As Worries Hold Sway

November 22, 2011 Admin

Dollar Up As Worries Hold Sway. Gridlock in Washington has so far been a boon for the dollar.

The greenback rose Monday against the euro and other currencies despite the failure of a bipartisan congressional supercommittee to agree on measures to cut U.S. debt. Without a plan, automatic cuts to defense and domestic spending will kick in, potentially curbing economic growth next year.

GBP/USD Outlook November 21-25

November 21, 2011 Admin

GBP/USD Outlook November 21-25. The British pound suffered from higher unemployment and the European debt crisis and lost a lot of ground. A revision of Q3 GDP is the highlight of the week. Here is an outlook for the upcoming events and an updated technical analysis for GBP/USD.

EU settles for 2% budget increase

November 21, 2011 Admin

EU settles for 2% budget increase. Several EU governments, including the UK, had argued the demands by the European Parliament and Commission were “unrealistic” in a time of austerity.

EU negotiators settled for 2% after 15 hours of talks ending in the early hours of Saturday morning.

The British government said the result was an “excellent” deal for the UK.

“We have stopped the European Commission and European Parliament’s inflation-busting proposals and have delivered on the government’s promise to freeze the EU budget in real terms,” said Britain’s Financial Secretary to the Treasury, Mark Hoban.

Trading Week Outlook: Nov. 21 – Nov. 25

November 21, 2011 Admin

Trading Week Outlook: Nov. 21 – Nov. 25. The Thanksgiving holiday-shortened trading week ahead will bring a list of important economic data from the U.S., the Euro-zone and the U.K., but it will likely be the latest news from the EU debt crisis, rising borrowing costs, and the deadlock of the U.S. congressional “super committee” struggling to meet a $1.2 trillion deficit reduction target, that will continue to rattle the financial markets.