Swedish repo rate raised to 1.75%

Wednesday, 20 April 2011 02:29

Repo rate was raised by 0.25%, from 1.50% to 1.75%. interest rates from the Swedish Riksbank was as expected. The economy of Sweden is growing steadily with the Swedish Krone proving to be one the best currency preformer against all major currencies. Infalation is Sweden is currently low but is expected to increase as economic activity powers up. Riksbank is expecting the economy is grow about 4.6% in 2011.

Aussie going strong

Wednesday, 20 April 2011 12:07

Australia hits a new 29-year against the U.S Dollar trading in the forex market at 1.0599. Aussie rose from a low of 1.0442 to spike another high price of almost 3 decades, the previous high was 1.0577.

Australian export prices hopped 5.2% in the first quarter.

USD slips against JPY

Tuesday, 19 April 2011 01:23

The U.S dollar is edging lower against the Japanese currency in the forex market trade. USD slipped against JPY to 82.20, and is currently trading at 82.54. The US was warned that their current AAA rating by Standard & Poors is in danger of being downgraded; unless the deficit problem is being dealt with.

French and German PMI data

Tuesday, 19 April 2011 01:08

Manufacturing and services PMI results were released this morning with the French private sector expanding at the fastest rate since September 2000. Composite Output Index rose to 62.4 from 59.1 in March making a 10+ year high. Services Activity Index rose from March’s 60.4 to 63.4, another 10+ year high. PMI Manufacturing rose to a 4-month high to 56.9. Manufacturing Output Index reached 60.0, making 13-month high.

Finnish elections might cause Euro to ‘panic’

Monday, 18 April 2011 11:38

Finnish elections were completed over the weekend. Three types of parties were in action, as follows: The True Finns (anti-euro) placed third collecting 19% of the votes. The ones critical of the Portuguese aid package but yet supportive of the euro (Social Democrats) assembled 19.1% and the National Coalition Party with 20.4%. As previously mentioned Finland is a one of a kind on Europe as the only country with the Parliament that votes on EU inquiries for bailout funds. Finland could vote and veto against the aid package for Portugal, which could delay provisioning in funds and ‘panic’ the EUR.