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Eurozone Moves Closer To Setting Up A Banking Union
Thursday, December 19, 2013 - 8:13am | 316The euro steadied at $1.3672 on Thursday after falling slightly when the US Federal Reserve announced that it was going to begin tapering slowly at its December policy meeting. The common currency found some strength in news that the region's finance ministers reached a deal on how the bloc...
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Brent Nears $112 On Positive Economic Data
Monday, December 9, 2013 - 7:59am | 289Brent crude oil traded steadily at $111.74 at 5:15 GMT on Monday morning after better than expected jobs data from the US helped investor confidence in the number one oil consuming nation. CNBC reported that Friday's jobs report showed that the US economy was in fact on the upswing. Many...
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Euro Climbs To Seven Month High Against The Greenback
Thursday, September 19, 2013 - 8:01am | 275The euro held on to gains on Thursday after surging on Wednesday following the Federal Reserve's policy meeting. The US central bank shocked markets by announcing that it would continue with its $85 billion per month stimulus plan. The euro leapt above $1.35 and traded at $1.3535 at 7:30 GMT on...
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Crude Jumps With No Taper
Thursday, September 19, 2013 - 7:58am | 288Commodities prices skyrocketed on Wednesday following the US Federal Reserve's announcement that it would continue with its $85 billion per month bond buying plan. Brent crude oil held on to gains on Thursday morning and traded at $110.99 at 7:37 GMT. Most investors were expecting to see the US...
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Euro Holds On To Gains Before FOMC Meeting Closes
Wednesday, September 18, 2013 - 7:20am | 281The euro held on to gains from positive economic data and a weaker dollar and traded at $1.3357 at 7:25 GMT on Wednesday morning. Reuters reported that Germany's ZEW survey of economic sentiment was upbeat and rose to its highest level since April 2010. The data reflects Germans' confidence in...
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Brent Under Pressure As Investors Turn Towards The Fed Meeting
Tuesday, September 17, 2013 - 7:18am | 301Oil prices tumbled as worries about the situation in Syria subsided on Tuesday. Brent crude oil fell to $109.85 at 6:50 GMT on Monday morning as investors gained confidence in a UN program which will destroy Syria's nuclear weapons over the next nine months. After the US and Russia came to an...
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Brent Slides As Military Intervention In Syria Becomes Less Likely
Tuesday, September 10, 2013 - 8:59am | 300Brent crude oil tumbled on Tuesday after Russia's proposal about the situation in Syria was well received and put US military strikes on pause. The commodity traded at $112.90 at 6:50 GMT on Tuesday morning as the possibility of a US military strike in Syria became less likely. Russia has...
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No Policy Changes Expected From FOMC Meeting Today
Tuesday, March 13, 2012 - 10:15am | 314As US Federal Reserve's Federal Open Market Committee meets this afternoon, few expect any surprises coming out of Bernanke's statement. Specifically, Bernanke is not expected to back out of the Fed's commitment to maintain low rates through the end of 2014. The Fed is expected to do is to...
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Euro Zone Jobless and Inflation Rates Climb Higher
Thursday, March 1, 2012 - 9:18am | 918There was more bad news out of Europe on Thursday when the European Union's statistics agency Eurostat announced that unemployment in the euro zone had climbed to a euro era record high and inflation was on the rise too. Eurostat said that unemployment across the euro zone had reached 10.7 percent...
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Chairman Bernanke, You've Got Some ‘Splaining to Do On Quantitative Easing
Wednesday, April 27, 2011 - 12:22pm | 1059Later this afternoon Helicopter Ben will come close to admitting that Quantitative Easing was a complete bust. The Fed's balance sheet has bloated to $2.7 trillion dollars (as big as the biggest “Systemically Dangerous Institutions” it is supposed to regulate). (http://www.huffingtonpost.com/2011/...
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FOMC Tone Likely to Weaken the Dollar
Wednesday, April 27, 2011 - 11:31am | 128The theme of dollar weakness continues to support risk assets and higher yielding currencies as the U.S. is yet to show commitment regarding its Fiscal and Monetary tightening going forward. With currency markets in a subdued mode ahead of the FOMC announcement and subsequent Bernanke press...
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Bernanke Rally, Can It Last?
Tuesday, April 26, 2011 - 3:59pm | 510Every trader that I know is talking about the FOMC meeting tomorrow. This is when the Federal Reserve Bank Chairman, Ben Bernanke, is scheduled to give his first ever press conference after an interest rate decision. The market this afternoon is betting that Helicopter Ben is going to keep the...
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Federal Reserve Vice Chairman Donald Kohn: "Absolutely Critical"
Friday, February 25, 2011 - 1:46pm | 48Federal Reserve Vice Chairman Donald Kohn has made a statement that it is "absolutely critical" that the Federal Reserve has the confidence of the world to do the right things in terms of monetary policy. Many have questioned whether the additional $600 billion of quantitative easing was worth it.
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Federal Bank Purchases $1.379 Billion Of Treasury Debt
Thursday, September 16, 2010 - 2:16pm | 85The Federal Reserve Bank of New York on Thursday acquired $1.379 billion worth of Treasury debt, matured between 2012 and 2013. The move was part of the assurance to invest cash generated from mortgage-backed securities and from housing agency debt into the bond market with the aim of supporting...
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The Fed Is Delusional 3/16/10
Wednesday, March 17, 2010 - 10:06am | 569You cannot have your cake and eat it too! Either circumstances in the economy are getting better and we need to start looking for an exit door or we are still in for a sh-t storm and then no action is necessary! If the Fed sees the economy improving than why leave IR at an “excessively low rate...