Spanish economy minister Salgado says that non-performing loans at Spanish banks will continue to rise into next year. Spain is the epicenter of the housing bust in Europe, suffering over-building only seen in places like Las Vegas and Miami in the US. EUR/USD trades at 1.3780, up from 1.3757 lows.
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Spanish non-performing loans will continue to rise- EcoMin
June 15 2009, 8:01pm | Comments »
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BOC’s Carney: Concerned about recent CAD rise
Bank of Canada Governor Carney says he is concerned about the recent rise in the Canadian dollar saying the rise over the last month has been at an unprecedented rate. Evidence of the currency impact was seen earlier this week as Canada posted a rare trade deficit. Reaction has been muted as Carney has expressed these sentiments a few times in recent weeks. The buck is steady at lower levels of 1.0980.
June 11 2009, 10:09pm | Comments »
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Reflation back in business as shares, oil, currencies rise
At least we’ve gotten back in sych. The markets have come back into rhythm though bond yields have stopped rising after brushing 4% in 10s once again. EUR/USD is running into profit-taking just ahead of 1.4050, a bit over a cent above session lows at 1.3942 after the upbeat US data an hour and a half ago. 1.4060 is resistance intraday, followed by 1.4145 from Wednesday morning.
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- Forex
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- rise
June 11 2009, 5:05pm | Comments »
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