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Euro Steady As Investors Eye Italian Elections
Thursday, December 27, 2012 - 8:33am | 280The euro traded at 1.3227 on Thursday morning as confidence in the eurozone continued to bolster the prices. The common currency has been trading above $1.30 consistently since the restructuring and approval of Greece's aid package. Though the trouble in Greece has been temporarily repaired, many...
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Benzinga Market Primer, Friday, December 14
Friday, December 14, 2012 - 7:46am | 728Futures Rise on Chinese Manufacturing Data U.S. equity futures rose in pre-market trade following strong manufacturing data out of China overnight. The preliminary HSBC China Manufacturing PMI for December rose to 50.9 from the final November reading of 50.5, showing a continued improvement in...
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ECB Projects a Difficult New Year in the Eurozone
Friday, December 7, 2012 - 8:22am | 293The euro sunk on Friday morning following Thursday's European Central Bank meeting which Mario Draghi followed up with comments suggesting that the eurozone was far from the end of its financial crisis. The common currency dipped below $1.30 and traded at 1.2957. The ECB decided to leave it's...
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Spain Back In The Spotlight, Euro Sagging
Thursday, December 6, 2012 - 7:41am | 294The euro retreated from its $1.31 high on Thursday morning following a day of bad news from the eurozone. The currency traded at 1.3057 on Thursday morning ahead of the European Central Bank's monthly meeting. At their monthly policy meeting, ECB President Mario Draghi and his colleagues are...
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Benzinga Market Primer, Monday November 26
Monday, November 26, 2012 - 7:30am | 880Futures Drop on Greek Uncertainty, Catalan Vote U.S. equity futures fell in pre-market trading as uncertainty surrounding Greece's disbursement of its latest payment grips markets. Greece has already agreed on the necessary cuts with the Troika to receive the payment, however the current debate is...
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Euro Steady Near $1.27 Ahead of ECB Meeting
Thursday, November 8, 2012 - 7:53am | 382The euro dropped slightly to 1.2767 on Thursday morning, despite good news from Greece on Wednesday afternoon. The country's coalition voted to pass a bundle of spending cuts in order to unlock its next installment of bailout money. Worth 31 billion euros, the bailout has kept the country from...
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Futures Rise on Election Day
Tuesday, November 6, 2012 - 7:16am | 957U.S. equity futures rose in pre-market trading on election day. Heading into the vote, the candidates are in a statistical dead heat as the margin of error on all of the tracking polls is generally wider than the difference in the surveys; thus, this is one of the closest races in history. Top...
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Euro Down in the Wake of Poor Economic Data
Wednesday, October 24, 2012 - 7:14am | 270The euro was down on Wednesday morning, trading at 1.2938. The losses came after the purchasing manager's index for the eurozone's manufacturing and services sector showed a much lower than forecast output. Since the forecast has been cut several times in 2012, falling short of the October goal...
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Euro Sinks After Moody's Downgrades Catalonia
Tuesday, October 23, 2012 - 7:06am | 270The euro lost a bit of ground on Tuesday morning trading at 1.3037. This loss followed news that Moody's Investor Services downgraded the ratings on five Spanish regions, including Catalonia. Reuters reported on Tuesday that Moody's cut ratings down one or two points each, citing limited cash and...
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Euro Gains After Spanish Regional Elections Mitigated by Uncertainty Over Bailout
Monday, October 22, 2012 - 6:36am | 279The euro held at 1.3055 on Monday morning as Spanish Prime Minister Mariano Rajoy won the majority of the vote in regional elections held in Galicia, his home region. The win served a stepping stone as he continues to make spending cuts and push austerity measures. Many believed that his severe...
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Benzinga Market Primer, Monday October 8
Monday, October 8, 2012 - 6:22am | 763U.S. equity futures fell in early Monday trading as the World Bank slashed growth forecasts for Asian nations including China. The World Bank cut its estimates for Chinese growth in 2012 to 7.7 percent annualized GDP growth from 8.2 percent previously and cut its 2013 GDP growth estimate to 8.1...
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Euro Responds to Draghi's Reassurance
Friday, October 5, 2012 - 7:29am | 310The euro rose to 1.3009 on Friday morning, nearly meeting its September high of 1.3169. The increase can be attributed to Thursday's European Central Bank meeting where the bank decided to keep interest rates at 0.75 percent, a record low. CNBC reported that after the meeting, European Central Bank...
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Euro Holds Steady, European Central Bank Expected to Make Few Changes
Thursday, October 4, 2012 - 7:21am | 273The euro traded at 1.2942 on Thursday morning, making a steady climb towards its September high of 1.3169. The currency has held steady amid rumors of a Spanish bailout and Greece's exit from the eurozone. Markets have calmed in anticipation of the European Central Bank meeting and further news...
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Euro Holds Steady; Rajoy Denies Bailout Rumors
Wednesday, October 3, 2012 - 7:53am | 271The euro held steady at 1.2926 on Wednesday morning as speculation continues about when Spain will request European aid. Tuesday, Spanish Prime Minister Mariano Rajoy denied reports that Madrid was set to ask for a bailout this weekend, and indicated there were no plans to ask for aid near-term....
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Brent Could Rise to $130 Over Tensions in the Middle East
Wednesday, October 3, 2012 - 7:23am | 262Wednesday morning, Brent crude oil traded at 111.360, down nearly 0.4 percent from Tuesday's prices. As the world's major economies continue to struggle, demand forecasts paint a grim picture for investors. Europe continued to be the main cause for concern, with Spain's economic problems as the...