Euro hits 6-month high after Germany’s Merkel said it was ‘too weak’

The euro surged to a more than six-month high on Monday after German Chancellor Angela Merkel said it was “too weak,” while oil prices were bolstered by expectations that top exporters will extend supply curbs this week. A one-month high for oil futures LCOc1 on hopes of a supply cut by the Organization of the Petroleum Exporting Countries helped Asian shares to their best session in weeks. U.S. crude CLcv1 rose 0.61 percent to $50.98 per barrel and Brent LCOcv1 was at $53.80, up 0.35 percent on the day. European shares struggled to maintain momentum, but the U.S. stock market gained, lifted by defense and tech stocks, after U.S. President Donald Trump announced arms deals of up to $350 billion with Saudi Arabia over the weekend….

Global stocks edge up on higher oil prices, U.S. GDP revision

Equities in key world markets edged higher on Thursday, supported by an advance in U.S. crude to trade above $50 per barrel for the first time in three weeks, while stocks on Wall Street also got a lift from growth data. The euro slipped after data showed easing inflation in Spain and Germany, paring back bets on tighter policy from the European Central Bank…

Eurozone economy grows 0.6% in the first quarter, outpaces U.S. and U.K.

Boom! Europe is back. At least for now. The eurozone economy grew 0.6% in the first three months of the year compared to the previous quarter, easily outpacing both the U.S. and the U.K. Growth was double the pace of the previous six months, and way better than expected. Economists were forecasting expansion of about 0.4%. (U.S. GDP grew by 0.5% but more like 0.1% if calculated in the same way as the Eurozone data.)…

BOE’s Carney turns to the word on the street from trusted regional agents

Unsure how a misfiring global economy is affecting matters at home, Bank of England chief Mark Carney has turned to an age-old gauge of Britain’s economy: the word on the street from a trusted band of regional agents. Dating back almost two centuries, the agents – drawn from lifelong BoE staffers and economists with local expertise – add boots-on-the-ground flavor to the reams of statistics ingested every month by Carney and the eight other professional economists on the Bank’s interest-rate setting committee…

Cataloni’as independence movement back on track as new separatist leader is sworn in

Catalonia’s parliament is due to swear in a new separatist leader, putting the pro-independence movement’s resolve to break with Spain over the next 18 months back on track after months of political deadlock. The 11th-hour decision on Sunday evening played into a fraught national political scene since an inconclusive election last month in which the ruling People’s party (PP) won most seats but lost its parliamentary majority…

Newcomers win big in Spain election, ruling conservatives sink to historic lows

Spaniards wanted change, and at Sunday’s elections they got it. The two discredited parties that have run the country for three decades sank to historic lows while bright newcomers stormed their way into parliament. The upturned two-party system was tired and prone to cronyism, but it had one major advantage: much like Britain, it almost always produced stable governments…

Catalonia to continue drive for independence from Spain: Artur Mas

Catalonia’s government will continue its drive for independence, its acting head said on Thursday, a day after Spain’s Constitutional Court annulled a Catalan assembly resolution calling for a republic to be established within 18 months. The court was ruling on an appeal by the Spanish government of Prime Minister Mariano Rajoy, who has said Catalonian independence is “nonsense” and will never happen…

Central bankers getting ready if Greece crashes out of eurozone

Greece’s default was a non-event (almost) for investors. But markets won’t be as calm if the country crashes out of the euro, so central bankers are getting ready. The European Central Bank said Thursday it is now ready for the first time to buy the bonds of a number of companies in the eurozone, in […]

Greece’s wealthy have already moved to cut their losses

The security guard wrinkled his brow at the sight of an unfamiliar face. But when he found the name of the Guardian’s correspondent, left at the gate by a member, his demeanour changed. “Parakalo,” he said with a warm smile, handing over a card to open the turnstile. Either side, the walls were thick and […]

Will Spain take the Greek route?

If first impressions count, then the political force that wants to transform Spain in 2015 consists mainly of student types and self-conscious outsiders. That, at any rate, is the scene when you enter Podemos’s crammed, disorderly office in Madrid’s popular Lavapiés district. Posters are being prepared for the movement’s first big street demonstration, planned for 31 January…

Spain takes first step to block Catalonia’s ‘consultation of citizens’

(Reuters) – Spain’s central government took the first step on Monday towards blocking a “consultation of citizens” that the Catalonia region intends to hold next month in the place of a full referendum on independence from Spain that was barred by a court…

Top 10 Weekly Forex Market Headlines – 10.17.2014

1. Putin orders withdrawal of Russian troops from Ukrainian border October 13, Russian President Vladimir Putin has ordered thousands of troops stationed near the Ukrainian border to return to their bases, Russian media report. Mr Putin’s spokesman said about 17,600 soldiers on training exercises in the Rostov region would be pulled back. Russia has previously […]

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