Fed to hold rates steady until unemployment rate improves, extends QE

(Reuters) – In an unprecedented step, the Federal Reserve said on Wednesday it would hold interest rates near zero until the unemployment rate falls to 6.5 percent as it launched a new round of bond purchases to stimulate the economy…

Banks are staying alive and are too dependant on ECB cash

(Reuters) – Deutsche Bank (DBKGn.DE) co-Chief Executive Juergen Fitschen said Europe’s banking sector remains too dependent on extraordinary support measures taken by the European Central Bank…

EUR/USD and EUR/JPY dip on weak German data

(Reuters) – The euro edged lower against the dollar and yen on Wednesday on signs of further decline in the economy of regional powerhouse Germany, but global shares rebounded slightly after Tuesday’s hefty fall…

EU faces arduous months of negotiations to boost euro confidence

PARIS (Reuters) – European Union leaders face two months of tough bargaining on money, power and the future governance of the euro zone before they can boost confidence that the existential threat to the single currency has faded.

Samaras expects to get aid before Greece runs out of cash

(Reuters) – Debt-laden Greece expects to get the bailout money it needs before its cash runs out in the middle of next month, the prime minister said on Friday. Speaking to reporters at a European Union summit, Antonis Samaras added that the country…

ECB to provide most firepower for Spain’s bailout

BRUSSELS—Euro-zone governments are counting on the European Central Bank to provide most of the firepower if Spain requests a bailout, with only a modest contribution coming from the bloc’s bailout fund, senior officials said. The governments hope to earmark significantly less than €100 billion ($130.55 billion) from their €500 billion bailout fund if Spain requests help…

Spain seeks support from EU partners to go forward with bailout request

MADRID—Spain is considering a request for a line of credit from the European Union’s new bailout mechanism, a senior Spanish Finance Ministry official said Monday, giving the first details of the country’s plans for seeking help to avoid its debt problems spinning out of control…

September’s U.S. Retail Sales shows growing economy

(Reuters) – Retail sales rose in September as Americans bought more of everything from cars to electronics, a sign consumers are driving faster economic growth despite icy winds from the cooling global economy…

Top 10 Weekly Forex Market Headlines – 10.12.2012

1. Unemployment rate unexpectedly dropped to 7.8 percent in September The U.S. unemployment rate unexpectedly dropped to 7.8 percent in September and reached its lowest level since President Barack Obama took office, providing a boost to his re-election bid.   2. IMF lowers its global growth forecasts to 3.6 percent for 2013 The International Monetary […]

Merkel’s visit is a show of support to Greece

Greek Prime Minister Antonis Samaras and several of his ministers lined up patiently on the tarmac at Athens International Airport on Tuesday to welcome German Chancellor Angela Merkel to Greece on her first visit to the country since its mounting debt tipped it into its worst postwar economic crisis…

Liquidity injection to boost Chinese economy

SHANGHAI—China’s central bank pumped a load of cash into the country’s banking system for a second time in two weeks, spurring stock-market rallies in Shanghai and Sydney, and signaling to some investors a stronger resolve by the government to stimulate the ailing economy.

Forex Market Review And News Calendar For October 8 ~ 12, 2012

Market started off the week with HSBC and Official China manufacturing PMI readings in contraction territories as the trend of decline continues. Although data out of Europe started to show surprises to the upside, investors still remained cautious over the ongoing Greek and Spanish situations that seemed more uncertain as the week progressed. Spain continues […]

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