China has raised its interest rates by 0.25% (from July 7th ) in an attempt to prevent the country’s unsustainable and overheating economy from pushing past the current growth rate of 6.31%. But any slowdown in the Chinese economy through interest rate manipulation may have an adverse effect on...
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Latest trading commentaries...The ECB’s bold belief
Michael Derks, FxPro
There’s been little indication that the ECB has wavered from its intent to tighten rates today, despite the deterioration in the eurozone sovereign crisis since last month’s press conference. But is its resolve in (seemingly) pushing ahead to tighten rates a sign of confidence or recklessness?
Bond market suffer as Portugal downgraded
Mark O'Sullivan, Currencies Direct
EU members scrambled yesterday to avoid the debt crisis in Greece from destabilising the currency union, threatening credit-rating agencies with possible retaliation following the decision by Moody’s to lower Portugal’s debt to junk status.
All about interest rate decisions today
Simon Denham, Capital Spreads
It’s all about interest rate decisions today with the Bank of England at midday followed by the ECB at 12h45. There’s no question that the BOE will be a case of “unch, early lunch” meanwhile expectations are for a hike from the ECB to 1.50% as Trichet attempts to maintain his credibility by being vigilant in the face of rising inflation.
Euro interest rates will rise today
Mark Deans, Moneycorp
A German holidaymaker has taken a tour operator to court because his hotel gave to another guest the sunbed he had been expecting to keep for a week. The court in München* awarded him nominal damages of €34.45, a fraction of the €672.25 he had been hoping to receive.
Mainly dovish surprises likely in BOE and ECB announcements
Andrew Timothy Robinson
Any surprises from both the European Central Bank and Bank of England meetings today are most likely of the dovish kind.
Looking ahead to ECB and BoE announcements
Mark Bolsom, Travelex
The European Central Bank and Bank of England will announce decisions taken at today’s monetary policy meetings. The Bank of England is widely expected to leave policy unchanged, while the ECB is seen raising interest rates by 25-basis points.
European crisis lurches as with Portuguese downgrade
Andrew Wilkinson, Interactive Brokers
The European sovereign crisis has come to resemble one of those intricate multi-faceted and fast-paced board games involving dozens of tiny odd-shaped pieces and playing cards.
Sterling’s gains already proving hard to sustain
Richard Driver, CaxtonFX
The pound benefitted from a welcome upside surprise in the form of the UK services sector growth figure for June. However, the figure was still not too impressive and we are already seeing that sterling’s gains are proving hard to sustain.
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