Germany's factory orders came out worse than expected at 14.2%, which cause a slip in euro. More importantly the single currency was affected by the news from the IMF's Strauss-Kahn who said that it will be difficult in 2011 for Greece to achieve its targets and that the euro zone must find a more comprehensive solution to the debt crisis. The EU's Olli Rehn has revealed that a new round of stress tests will begin in February next year, and they are already under discussion, a liquidity...
As one strategist recently put it, we seem to be witnessing Deja Vu in the forex markets. The US Dollar in general, and the USD/EUR currency pair in particular, are behaving exactly the same as one year ago: “The greenback rose back then…on a combination of strong U.S. November jobs numbers…and the triple downgrades of Greece later in the month by Fitch, S&P; and Moodys.” This time around, a similar combination of US optimism and EU pessimism are once again buoying...
by Jacob Goldstein It's getting very expensive for European countries to borrow money — not just Greece and Ireland, but, also Spain, Portugal, and Italy. The U.S., on the other hand, can still borrow money incredibly cheaply. Here are the figures from today: ...