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January blues hit the market
5 January 2012, Mark O'Sullivan, Currencies Direct
Festive cheer in the market seems to be running out as we move towards the end of the first trading week of 2012. Disappointing Italian and Spanish PMI data more than offset a decent German figure and the Euro-zone is looking more and more likely to be heading into another recession.
Japan’s trade gap and the impact on the yen
5 January 2012, Michael Derks, FxPro
Amidst the unrelenting focus on Europe’s slow-motion financial self-destruction last year, very little attention was paid to the deterioration in Japan’s trade fundamentals. In the first eleven months of 2011, Japan’s trade deficit exceeded JPY 2 trln (around USD 26 bn).
Early optimisim has already run out of steam
5 January 2012, Richard Driver, CaxtonFX
The early optimism that characterised Tuesday’s session has already run out of steam, and the euro is once again feeling the heat as you would expect. There was no major catalyst for the euro’s poor day, but mediocre demand at a German bond auction was unlikely to help.
Euro crumbles to new lows
5 January 2012, Mark Bolsom, Travelex
The euro crumbled to new lows on Wednesday as concerns snowball over the eurozone’s deteriorating fiscal health and its negative effect on economic growth. Greece’s Prime Minister, Lucas Papademos, warned markets the Greek economy could collapse by as early as March this year.
We may be in a different year but we face the same problems as we did in 2011
5 January 2012, Simon Deham, Capital Spreads
Markets are expected to track sideways this morning as investors continue to cast doubt over the strength at the start of this week and year. A little bit of doubt crept into investors’ minds yesterday after the ECB revealed that a record amount of funds had been deposited with them overnight and the share price of Italy’s largest bank hit its lowest level since March 2009.
The pressure on oil
5 January 2012, Michael Derks, FxPro
Given the slower growth backdrop that we are seeing, both in Europe and Asia, it’s interesting to note that oil is pushing 8 month highs this week. It also throws another obstacle into the path of the lower inflation rates that are anticipated but also very much required in Europe, allowing policy-makers to ease policy further (especially in the eurozone) and also reducing the severe squeeze seen on real incomes in many countries.
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James Hickman, MD of Caxton FX, looks back at the events of 2011 and what might be in store for 2012:
What a year 2011 was: uprisings in the Arab world, earthquakes in Japan and New Zealand, not to mention the deaths of three dictators, the Royal Wedding and the London riots...
Read full story >>
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Latest FX-MM news, stories & comment
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Conferences, events & exhibitions
ACT Cash & Treasury Management Conference
11 January 2012, Hong Kong
Banking Tech Summit
22 - 25 January 2012, Amman, Jordan
Supply Chain Finance
16 - 17 February 2012, Cancun, Mexico
International Payments Summit 2012
13 - 15 March 2012, London, UK
1st International Symposium on Business, Economica & Financial Applications
1 - 2 June 2012, Kefalonia, Greece
9th AFE Conference 2012
28 - 30 June 2012, Samos Island, Greece
World Finance Conference
2 - 4 July 2012, Ipanema, Portugal
2012 Annual Conference on Global Economics, Business and Finance (GEBF 2012)
27 - 30 July 2012, Beijing, China
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