how does high unemployment rates effect consumer confidence

Sterling closing at 1.4780

FXstreet.com (Jakarta) - The Sterling (GBP) was able to overextend gains on the back of GFK consumer confidence jumping to -27 vs. -29 previously. Nationwide HPI was at -0.4% vs. -1.2% previously.Easy Forex Team said: ?Overall the GBP/USD traded with a low of 1.4705 and a high of 1.4946 before closing the day at 1.4780 in the New York session.?For more information, read our latest forex news.

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ECB's Bini Smaghi Says Mistrust in Banks Could Affect Confidence in States

(CEP News) Frankfurt - European Central Bank Executive Board member Lorenzo Bini Smaghi warned that the lack of confidence in banks could spill over and effect sentiment towards governments.

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ECB's Bini Smaghi Says Mistrust in Banks Could Affect Confidence in States (Update)

(CEP News) Frankfurt - European Central Bank Executive Board member Lorenzo Bini Smaghi warned that the lack of confidence in banks could spill over and effect sentiment towards governments.

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Forex - Dollar rallied to a 6-month high on raising concerns of recession in euro-zone

The Dollar has extended its rally of the past month, touching a 2008 high against a basket of currencies on the view that economic weakness, once US, is spreading globally. A jump in US consumer confidence in August to 56.9 vs 51.9 added to the Dollar advance. US housing data had little impact on Dollar trading. And investor did focus later on the

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Forex: EUR/USD: Euro reaches 1.3985 after consumer confidence figures

FXstreet.com (Barcelona) - EUR/USD recovery from 1.3855 intra-day low has extended strongly on better than expected Consumer confidence data, and the Euro has appreciated above previous intra-day low at 1.3885,reaching 1.3880 so frt, with 1.4000 on sight.Next resistance level lies at 1.4000 psychological level, and above there, 1.4020/25 and 1.4050/55 (May 22/25 high). On the downside, support levels lie at 1.3945 and below there, 1.3900 and 1.3855.According to Valeria Bednarik, the Euro is about to turn down, possibly back around

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Forex: GBP/USD: Pound approaches 1.5948, 6-month high, after Consumer Confidence data

FXstreet.com (Barcelona) - The Pound's recovery from 1.5775 intra-day low has extended on better than expected Consumer Confidence data, and the Pound has taken back all the ground lost reaching tight below fresh 6-month high at 1.5948.Initial resistance lies at the mentioned 1.5948, and above there next resistance levels lie at 1.6000 and 1.6050 (38.20% Fib resistance of the 08-09 decline). On the downside, initial support lies at 1.5865 and below there, 1.5835 (May 25 low) and 1.5775 intra-day low.

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Onset of Recession Was a "Panic", Says Fed's Warsh

Although onset of the recession in 2008 and 2009 could be considered a panic, the pace of deterioration in the U.S. economy is likely to abate further, according to Fed Governor Kevin Warsh speaking in Washington, D.C on Monday.The current financial and economic turmoil is marked by indicia of both recession and panic conditions, said the central banker, citing a sharp deterioration in confidence, housing market values, and economic growth coupled with soaring inflation.Warsh also argued that

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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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Greek Economy Could Shrink This Year, Says Central Bank

The Greek economy will face some difficulties over the coming years with possible negative growth rates and inflation potentially coming down sharply, according to a report from the Bank of Greece published on Wednesday.It is estimated that economic activity will stagnate this year, according to the central bank's governor, Georgios Provopoulos, when delivering the report. He furthermore said that fiscal stimulus was having a smaller effect on euro zone economies than that of the United States, and

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Forex: EUR/USD: Euro reaches day high past 1.3225, after Eurozone confidence data

FXstreet.com (Barcelona) ? EUR/USD rally from 1.2965 low yesterday extends to levels above 1.3225 resistance after Eurozone economic sentiment data. At the moment the Euro trades at 1.3230.If the Euro consolidates above 1.3225, next resistance level might come at 1,3245 (Apr 27 high) and then 1.3300 (Apr 24 high). On the downside, support levels stand at 1.3160, and below there, today?s low at 1.3125 and 1.3085.EURJJPY recovery from 124.35 low yesterday has extended above 128.15 resistance levels, after the release

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