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

Saturday, September 15, 2012

US dollar slumps as Fed and ECB actions weigh

US dollar slumps as Fed, ECB actions weigh
Reuters
The Fed's decision, plus more confidence about the euro zone debt crisis after recent European Central Bank action, have the single currency on track for a 2.3 percent gain against the greenback this week, its best weekly performance since late January.

Era of 'jobs-targeting' begins as Fed launches QE3 - Telegraph: "Quantitative Easing has become banal, a fine-tuning tool like any other. It is by now drained of all drama. Even the Federal Reserve’s hawks have lost the will to resist. Five of the six critics acquiesced." 

iPhone 5 will boost US economy more than QE3, says former Fed Governor Kevin Warsh - Telegraph: "Apple's iPhone 5 will do more for the American economy than Ben Bernanke's latest aggressive stimulus plan, former Federal Reserve governor Kevin Warsh told CNBC." 

Gordon Brown: ECB bond buying plan doesn't go far enough - Telegraph: "Europe is in danger of becoming trapped in an economic "quagmire" that sees it stuck in stagnation for years to come, former prime minister Gordon Brown has warned."

EURO DEBT SUPPLY-Spanish bailout stance to dictate demand
Reuters
LONDON, Sept 14 (Reuters) - A Spanish bond sale next week will be a gauge of investor confidence in euro zone policymakers' latest efforts to defuse the region's debt crisis, with markets on the lookout for signs of stronger demand. Spain plans to sell ...

Euro-Zone Employment Unchanged
Wall Street Journal
The numbers are a tentative sign that the euro zone isn't succumbing fully to the debt crisis that has pushed some of its fiscally weaker members into requiring international aid. Leaders ofeuro-zone countries, ... Eurostat also confirmed Friday that ...

Euro Zone Epicenter of 'Worst Crisis Since WWII': Trichet
CNBC.com
... by Catherine Boyle. The euro zone's debt crisis is just the center of an “adjustment” which is affecting all advanced economies, former European Central Bank (ECB) President Jean-Claude Trichet told CNBC. ... He also highlighted several “naïve...

CNBC.com

EURO GOVT-Fed euphoria helps Italy, Spain regroup
Reuters
The move boosted global equity markets and added to a rally dating back to late July for debt issued by Spain and Italy, the two economies at the heart of current efforts to halt three years of debt crisis. Relatively positive outcomes to a series of ...

Spain Said to Be in Talks Over 300 Billion Euro Rescue
CNBC.com
Spain, under pressure to spell out whether it needs more financial support, told euro zone finance ministers on Friday it will present a new set of structural economic reforms with firm deadlines by the end of the month. ... Another euro zone official ...

CNBC.com

Support grows for revamp to ease Ireland's debt
Chicago Tribune
... gave tacit backing for Dublin's debt demands. With the possibility of Spain requiring euro zoneaid, a likely request for assistance from Cyprus and uncertainty hanging over Greece's future, theeuro zone wants to deliver proof that its crisis ...

Euro bailout fund to be operational in October - Juncker
Reuters
The ESM was supposed to come into effect in July as the euro zone's firewall to stop the three-year-old debt crisis from spreading. Only ratification from Germany, which funds more than a quarter of the ESM, was still pending until the court ruling ...

Draghi to be invited to address German lawmakers
Reuters
"The invitation to Mario Draghi is being prepared and we are looking forward very much to an exchange of ideas with the ECB president in the budget committee of the German Bundestag," Petra Merkel told Reuters. No date has yet been agreed for Draghi's ...

Analysis: Euro zone making scant headway on growth and reform
Reuters
Economic trends remain dispiriting: euro zone output is contracting, forecasts for 2013 are being downgraded and the myriad reforms needed to boost longer-term productivity and competitiveness are for the most part conspicuously absent. ... In contrast ...

Euro zone debt crisis not over, faith in euro needed: IMF - Economic ...
TIANJIN: The euro zone debt crisis still has a long way to go before it ends and Europe needs to keep faith in the single currency, International Monetary Fund ...

Video: Euro zone steers debt crisis obstacles - The Globe and Mail
Video: Euro zone steers debt crisis obstacles Add to ... Reuters. Published Friday, Sep. 14 ...

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