"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Saturday, May 5, 2012

Eurozone: French and Greek elections Sunday

The Eurozone (and many others) will be watching the Greek and French elections on Sunday--

In Elections, Greeks Are Expected to Make Old Guard Pay for Turmoil
New York Times
Along with elections in France, and with a rising tide of anti-austerity sentiment across Europe, Greece's vote is expected to have a clear impact on the future of the euro. The next government, amid a deepening recession and facing likely social ...

New York Times

Greece and France expected to reject austerity measures, roiling Europe's leaders
Kansas City Star
By ROY GUTMAN ATHENS, Greece -- French and Greek leaders who backed the European Union's severe austerity measures are likely to take a drubbing when both countries hold national elections on Sunday, raising pressures on EU leaders to ease the tough ...

Markets Expect Sarkozy To Lose France As Greece Heads For The Polls
Forbes
This weekend, crucial elections in France and Greece will act as a conduit for the populations of two of the protagonists of the European sovereign debt crisis to express their frustrations with austerity. Markets are expecting incumbent Nicolas ...

Analysis: Greek election set to rock shaky euro zone
Chicago Tribune
BRUSSELS (Reuters) - Overshadowed by the prospect of a Socialist win inFrance's presidential vote, the parliamentary election in Greece on Sunday carries far greater risks for the euro zone. Opinion polls show no clear winner emerging from the vote, ...

European Elections: Watch Greece as Well as France
Wall Street Journal (blog)
By Paul Vigna Most eyes are going to be on France this weekend, where the presidential election is expected to see incumbent Nicholas Sakozy — half of the Merkozy duo that's been calling the shots in Europe — tossed out in favor of Socialist Francois ...

US Dollar – Elections In Greece And France To Drive Greenback
TheStreet.com
Traders should watch for surprises out of the weekend's elections in France and Greece—especially as news out of Europe was one of the major catalysts for the Dollar's sharp rallies into Friday's close. French elections are of interest as all signs ...
A Solution for the Euro-Zone Crisis
Wall Street Journal (blog)
Banks could expect modest profits but over a longer period and with their lending directly generating the one thing the euro zone needs right now: economic growth. As prosperity flourishes and bank balance sheets are secure, money borrowed from the ECB ...

Euro-Zone PMI Points To Steeper Contraction
Wall Street Journal
By Ilona Billington LONDON (Dow Jones)--Private sector economic activity in the euro-zonedeclined at a faster pace than expected in April, according to surveys of purchasing managers at manufacturers and service providers.

Data Deepen Euro-Zone Gloom
Wall Street Journal
By ILONA BILLINGTON LONDON—Private sector economic activity in the euro-zone declined at a faster pace than expected in April, according to surveys of purchasing managers at manufacturers and service providers. That suggests that an economic ...

MONEY MARKETS-ECB deposit rate cut priced by markets seen unlikely
Reuters
The European Central Bank on Thursday neither signalled further monetary easing nor eliminated the possibility of more stimulus despite bank President Mario Draghi noting the uncertain picture for the euro zone economy. BNP Paribas calculates that ...

Euro-Zone Bonds Shrug Off Services Slump
Wall Street Journal
By Tommy Stubbington and Nick Cawley Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Euro-zone bond markets shrugged off more gloomy economic data Friday as Spanish and Italian government bond yields hit their lowest levels in a month, helped by buying from ...

Eurozone Unemployment and the Recession of 2012
Wall Street Pit
To get a rough sense of this, I calculated the weighted-average annual unemployment rate of what I call the “EZ6″ — the six largest eurozone economies, ie Germany, France, Italy, Spain, Netherlands, and Belgium — over the past 20 years.

Misery builds for the euro zone
Reuters
By Andy Bruce | LONDON (Reuters) - The euro zone economy worsened markedly in April, according to business surveys that clashed with the prospect of a gradual recovery augured by European Central Bank President Mario Draghi this week.

Euro-Zone Retail Sales Rise
Wall Street Journal
However, sales were down in a number of euro-zone members that have embarked on tough austerity programs, underlining the divergences within the currency area that will complicate the European Central Bank's future policy decisions.

Euro zone drags on world's private sector -PMIs
Reuters
LONDON May 4 (Reuters) - The deteriorating euro zone economy dragged on the world's private sector in April, as global business activity expanded at its slowest pace in five months, a survey showed on Friday. JPMorgan's Global Manufacturing and ...

Euribor rates dip as ECB remains in crisis mode
Reuters
FRANKFURT, May 4 (Reuters) - Key euro zone bank-to-bank lending rates fell to new 23-month lows on Friday after the European Central Bank said a day earlier it is too early to exit from the crisis strategy that has seen it pump a record amount of cash ...

Euro-Zone Bonds Shrug Off Services Slump Ahead Of Elections
Wall Street Journal
LONDON (Dow Jones)--Euro-zone bond markets shrugged off more gloomy economic data Friday, as traders stayed out of the market ahead of elections in France and Greece. Monthly employment data from the US, due later Friday, also helped to keep markets ...

ECB chief expects economy to recover gradually
BusinessWeek
European Central Bank President Mario Draghi says he still expects the eurozone economy to "recover gradually" over the rest of this year. Draghi said the economic outlook was subject to "downside risks" from Europe's debt crisis.

Analysis: Greek election set to rock shaky euro zone
Chicago Tribune
BRUSSELS (Reuters) - Overshadowed by the prospect of a Socialist win in France's presidential vote, the parliamentary election in Greece on Sunday carries far greater risks for the euro zone. Opinion polls show no clear winner emerging from the vote, ...

Germans back euro zone austerity, prefer Sarkozy: poll
Reuters
BERLIN (Reuters) - A majority of Germans across the political spectrum support Chancellor Angela Merkel's insistence that the euro zone stick with tough austerity measures to reduce its heavy debt load, according to a poll published on Friday.

Eurozone woes spark worst UK property recession
Reuters
By Brenda Goh | LONDON (Reuters) - UK commercial property is suffering its deepest downturn since records began after uncertainty surrounding the euro zone crisis pushed values down for the second consecutive quarter and more pain looms on the horizon, ...

Traveling ECB brings no new fixes
Washington Post
MADRID — The European Central Bank brought its monthly meeting to the heart of the euro crisis Wednesday, leaving its German headquarters for Spain, a recession-damaged country with 25 percent unemployment. The aim, officials announced, ...

Eurozone PMI points to a slowdown
UPI.com
LONDON, May 4 (UPI) -- Research firm Markit Economics said business activity in the 17-member eurozone was a step slower than had been expected in April. In its final estimate for the month, Markit said the Purchasing Manager's Composite Output Index ...

Europe finds austerity a tight fit
Washington Post
With governments across the continent slashing their budgets, unemployment in the 17-nationeuro zone hit 10.9 percent in March, its highest level since the euro was first minted in 1999. Eleven European countries — including a couple that are not in ...

Euro Risks Highlighted as Elections Show Political Swing
BusinessWeek
By James G. Neuger on May 04, 2012 Four elections this weekend have the potential to reshape the European political map and show how the response to the financial crisis remains hostage to the whims of voters on both sides of the region's economic ...

Eurozone private sector manufacturing and services shrank more in April
Gant Daily
Brussels, Belgium (AHN) – The eurozone saw it private sector contract sharply in April by one of its sharpest falls in nearly three years and its steepest decline since October, London-based Markit Economics said Friday. A contraction is defined as any ...

Euro Zone Manufacturing Down Sharply
The New American
Two of the most troubled nations among what have collectively been labelled “PIGS”: Portugal, Ireland, Greece and Spain (which is now more appropriately the “PIIGS”: Portugal, Ireland, Italy, Greece and Spain) have been particularly hard hit with this ...

Stocks Down on Jobs Report
New York Times
Stocks sank on Wall Street Friday after a disappointing report on jobs in the United States and a survey showing that euro zone economies contracted at an accelerating pace last month. In the United States, the monthly Labor Department report showed ...

East Asia boosts safety net as euro zone crisis lingers
Chicago Tribune
Related East Asia boosts safety net as euro zone crisis lingers A Chinese vendor counts yuan notes on a street A Chinese vendor counts yuan notes on a street A Chinese investor monitors share prices at a securities company in Shanghai A Chinese ...

Euro Zone Seeks New Growth Path
Wall Street Journal
It is a call, in effect, for the region's largest economy, Germany, to increase government spending to offset the budgetary contractions in other parts of the euro zone. A boost in German incomes would increase imports from the economies on the ...

Lower Eurozone Producer Prices Fail To Stimulate Euro Volatility
TheStreet.com
By DailyFX 05/03/12 - 05:03 AM EDT By David Schutz, Producer price inflation in the 17-nationEurozone increased less than expected in March, representing the sixth consecutive monthly drop in the gauge. The month-on-month number came in at 0.6% vs.

Euro zone economy worsens markedly in April
CTV.ca
The euro zone's vast services sector shrivelled at a much faster rate in April than initially thought, a business survey showed on Friday, suggesting that the bloc's recession could extend through to mid-year. The final reading of April's Markit ...

Euro zone shoppers offer little respite to ill economy
Globe and Mail
French and German shoppers helped retail sales in the euro zone grow by more than expected in March but trade was still down on a year ago and will likely do little for the bloc's economy as it slips into recession. Retail sales in the 17 countries ...

Globe and Mail

Eurozone private sector 'contracts sharply'
BBC News
The eurozone's private sector contracted sharply in April and more than initially thought, a survey says. The Markit eurozone composite purchasing managers' index (PMI) fell to 46.7 in April from March's 49.2. Any figure below 50 suggests contraction.

BBC News

ECB Leaves Rates Unchanged As Economy Slows
TheStreet.com
By AP 05/03/12 - 07:47 AM EDT BARCELONA, Spain (AP) — European Central Bank President Mario Draghi offered little prospect that the bank would deliver more support for the struggling economies of the 17-country eurozone, instead urging governments to ...

Norway Sovereign Wealth Fund Purges All Insolvent Eurozone Debt ...
By Tyler Durden
Over the years, our friends at the Norway Sovereign Wealth Fund have gone from jeered to cheered. To wit from March 30: "Remember this from September 2010? "Norway, which has amassed the world's second-biggest sovereign wealth ...
ZeroHedge

Euro-Zone Composite PMI Drops In April | Benzinga
By Monica Gerson
Private-sector business activity across the 17-nation euro zone contracted in April, according to the Markit composite purchasing managers' index. The index declined to 46.7, from 49.1 in March, down from an earlier estimate of 47.4.
Benzinga - Stock Market Quotes,...

Weekly Eurozone Watch: Bund Yield Low, Banks Hammered | The ...
By Global Macro Monitor
Weekly Eurozone Watch: Bund Yield Low, Banks Hammered · Email this post · Print this post. By Global Macro Monitor - May 4th, 2012, 3:30PM. PERMALINK Category: Credit, Think Tank. Twitter Tweet; Google Plus One; Facebook · Reddit ...
The Big Picture

The Fate of the Eurozone Hangs on Sunday's French Elections | The ...
By Martin Hutchinson
It now looks as though Nicolas Sarkozy's days are numbered. In the balance lies the fate of theEurozone itself. It appears Socialist Francois Hollande ...
The Wall Street Examiner

XE.com - Euro zone inflationary pressures rise in March-ECRI
Inflationary pressures in the euro zone continued to rise higher in March, pushed up by increases in Germany, Italy and Spain, according to an indicator designed to predict inflation trends.
XE Forex News

Big Troubles in Eurozone: Debt Starts with “D” and That Rhymes ...
By Jim Allen, CFA
I hadn't been paying particularly close attention to more than high-level issues related to the euro crisis of late. That was until a couple of articles caught my eye on the capital flows between member states and the headaches and fissures they ...
CFA Institute Blogs

Analysis: Eurozone Retail Sales Recovered In March | ForexLive
By Market News International
Real, seasonally adjusted retail sales: March preliminary: +0.3% m/m, -0.2% y/y MNI survey median: -0.2% m/m, -0.6% y/y MNI survey range: -0.4% to +0.3%
ForexLive

Eurozone private sector manufacturing and services shrank more in ...
The eurozone saw it private sector contract sharply in April by one of its sharpest falls in nearly three years and its steepest decline since October, London-based Markit Economics said Friday.
Wall-Street.com | Wall Street...

Euro Zone Heading Off a Cliff! — Money and Markets
By Mike Larson
From one end of Europe to the other, the numbers suggest a double-dip recession is striking with brutal force — despite the hundreds of billions of euros politicians and central bankers have thrown at the problem!
Money and Markets

Norway state fund sells eurozone debt - Usagold.com
By News
The fund, which has more than $600bn of assets under management and owns 2 per cent of all European equities, said the eurozone still faced big problems and that the Greek debt deal had worsened matters. “Predictability is important for a ...
USAGOLD News and Views

Eurozone debt crisis: Europe's nations must break free from the ...
By admin
For years, Europeans have paid insufficient attention to developments on the Continent, or have not dared look at them critically. Some began to look more closely at the problems two years ago – at the start of the eurozone debt crisis – but ...
European Alliance for Freedom

3 numbers to watch: US NFPs, Eurozone Retail Sales, Canadian ...
It that time of the month again. Time for the biggest economic report of the all, the US Employment report. While not the only report to be released today (Eurozone PMI, Retail Sales and Canadian Ivey PMI) it is without a doubt the one to watch.
Tradingfloor.com - the home of...

Eurozone PMI Drops (VGK, EWP, FXE, FXI, SPY) | Wall Street Sector ...
By John Burke
Eurozone Composite Purchasing Managers' Index for April sinks more than anticipated.
Wall Street Sector Selector

Euro zone manufacturing slumps | Video | Reuters.com
May 2 - France and Germany become the latest victims of a downturn in exports, leaving the ...
www.reuters.com/video/.../euro-zone-manufacturing-slumps?...

Euro Zone Could Face Recession - CNBC
Jacob Kirkegaard, Research Fellow, Peterson Institute for International Economics (PIIE ...
video.cnbc.com/gallery/?video=3000087647

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