european monthly economic growth
Eurogroup's Juncker Speaks Out Against Forex Volatility Ahead of G7
(CEP News) - Eurogroup chairman Jean-Claude Juncker spoke out against volatility in currency markets on Friday, calling the movements unwelcome.Speaking in Rome ahead of this weekend's G7 meeting of finance ministers and central bankers, Juncker touched on euro zone growth prospects. He said the drop in German, Italian and euro zone fourth-quarter GDP growth revealed on Thursday was to be expected, but that it still highlights the severity of the current economic crisis.Looking ahead, he forecasts a return to
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Fiscal Stimulus Plans Must Have Long-Term Considerations, Says ECB's Weber
Frankfurt - European Central Bank member Axel Weber said stimulus plans must take into consideration the long-term budgetary impact.We know very well that a confidence-inspiring reaction from increasing the deficit depends first of all on fiscal room for manoeuvre, Weber said at a panel discussion in Madrid on Friday.Weber also noted persisting growth and inflation differentials within the euro zone and blamed them on inappropriate national policies.There are some parts of inflation and output growth differentials that are
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ECB Forecasters Revise Down GDP, CPI Estimates
(CEP News) Frankfurt - Echoing European Central Bank President Jean-Claude Trichet's introductory remarks, the ECB noted in its monthly bulletin that inflationary pressures are diminishing and that it sees consumer price growth in line with the goal of price stability over the medium term.The central bank also reiterated that the euro area is in an extended period of economic decline. Growth risks are clearly on the downside, the report read. At its meeting on Feb. 5, the ECB Governing Council
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Euro Under Modest Pressure on Concerns Over EU Sovereign Debt
Weaker U.S. equity futures and lingering concerns over debt of European countries are helping to drag EUR/USD lower today.The euro is under modest pressure this morning, as gains were capped just under the 1.29 USD level in the European session. The euro is trading in the middle of its recent range, just below 1.28 USD.Economic data appear to be having little impact on the currency, which may be caught up in general U.S. dollar strength. The confirmed
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Euro Remains Volatile as Market Digests Weak Growth Forecasts
Currency markets were volatile this morning following comments from European Central Bank President Jean-Claude Trichet.The euro is retracing some of its losses following a weak growth outlook from the European Central Bank. Despite the modest recovery, currency strategists are expecting the euro to continue to fall.On Thursday, the ECB dropped interest rates by 50 basis points to 1.50% but, according to currency strategists, the weak economic outlook had the most impact on the currency. The euro lost
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Forex - Market is looking for Euro-zone and Britain for more evidence of slowing growth.
The Dollar rose on Wednesday, reversing a two-day losing markets, supported by views that slowing global economic growth would prompt a wave of interest rate cuts outside the United States. It gained in quiet trade despite a rebound in Crude Oil prices to $115.51 a barrel.Data from Europe and Japan are increasingly pointing to deterioration in
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Forex - Sterling lost 8.61% in August vs Dollar, its largest monthly drop since 1992
The Dollar rallied against a currency basket on Friday, posting its best monthly gain in 16 years, boosted by a batch of data showing a far more stable growth path for the United States than the rest of the world. Sterling was in the major casualties in the currency market this month, down 8.61% versus the Dollar, its biggest drop since it crashed
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Forex - Dollar fell broadly after Fed lowers growth forecast
The Dollar fell to a one-month low versus the Euro on Wednesday after the Federal Reserve cut its 2008 growth forecast and warned of higher unemployment, reducing prospects of an interest rate hike later this year.Although minutes of the Fed's April 29-30 policy meeting highlighted worries over inflation and signaled more interest rate cuts wer
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Economic Recovery "Not Too Far Off", Says Fed's Stern
A resumption of U.S. economic growth could be expected by mid-2010, Minneapolis Fed President Gary Stern said on Thursday, although he added it will be difficult to forecast the extent of a U.S. recovery.Stern said recent aggressive policy action taken by the Federal Reserve has delivered a boost to credit markets, and similar action taken by policymakers around the world means a return to growth should not be too far off, likely by the middle of next
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Trading Ideas - European Commission's Economic Growth Forecasts, Trade Balance - Sept 11th
A lot of events today in the calendar08:00 GMT: ECB Monthly Report. The European Central Bank publishes a monthly report that contains a detailed analysis of the prevailing economic situation and the risks to price stability. It also provides articles on a wide range of topics related to the tasks of the ECB. A high reading anticipates a hawkish at
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