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  1. #1
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    EURO

    The euro advanced against the dollar, reversing its decline, after a report showed German investor confidence increased more than economists predicted this month to the strongest in 2 1/2 years.

    Europe’s common currency advanced 0.2 percent to $1.3339 at 10:06 a.m. London time, after earlier falling by 0.4 percent.

    The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims to predict economic developments six months in advance, climbed to 31.5 from 6.9 in December. That’s the highest since May 2010. Economists forecast a gain to 12, according to the median of 39 estimates in a Bloomberg News survey.

    source_http://www.bloomberg.com/news/2013-01-22/euro-gains-versus-dollar-after-german-investor-confidence-climbs.html

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    The European Central Bank is concerned that investors could be spooked by next year’s bank balance-sheet reviews and stress tests unless their results are carefully timed.

    As the ECB prepares to take over supervision of all euro-area lenders in 2014, it will begin a three-phased analysis of the institutions coming under its umbrella. As laid out by Executive Board member Yves Mersch last month, the bank will start with a risk review before analyzing banks’ balance sheets and conducting stress tests in collaboration with the London-based European Banking Authority.
    Now central bankers are wrestling with how to move through the exercise without releasing conflicting numbers at different times, particularly for banks that aren’t in good health. ECB Executive Board member Peter Praet and Governing Council member Ewald Nowotny said this week that the two organizations must avoid giving different estimates of how much extra capital banks will need to raise.

    source_http://www.bloomberg.com/news/2013-09-18/ecb-policy-makers-say-stress-tests-risk-market-confusion.html

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  3. #42
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    The euro was near a seven-month high before data forecast to show consumer confidence was the strongest in more than two years in the 17-nation currency bloc and manufacturing expanded for a third month.

    The shared currency traded 0.4 percent from an almost four-year high versus the yen before European Central Bank President Mario Draghi speaks next week. Bank of Japan Governor Haruhiko Kuroda said today policy makers will continue to take appropriate action in conducting monetary policy. The yen was poised for weekly losses against 15 of its 16 major peers.

    “It’s hard to cap euro gains unless the ECB delivers a clear message they will add to its easy monetary policy,” said Kikuko Takeda, a senior analyst in London at the Bank of Tokyo-Mitsubishi UFJ Ltd., a unit of Japan’s biggest financial group by market value. “The euro’s high this year around $1.37 is in sight in the short term.”

    source_http://www.bloomberg.com/news/2013-09-19/euro-near-7-month-high-before-consumer-confidence-pmi.html

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  4. #43
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    The euro was 0.3 percent from a seven-month high against the dollar after Germany’s voters put Angela Merkel on course for the biggest election win since Helmut Kohl’s 1990 post-reunification victory.

    The greenback fell against the yen as markets assess when the Federal Reserve will reduce the pace of its bond purchases. Federal Open Market Committee voting member William C. Dudley is scheduled to speak today following comments from Bank of St. Louis President James Bullard indicating an October move is possible. Australia’s dollar rose after a Chinese manufacturing gauge was stronger than analysts had forecast.

    source_http://www.bloomberg.com/news/2013-09-22/euro-gains-against-dollar-after-merkel-seen-winning-election.html

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    The euro advanced versus the dollar on signs of economic strength in the 17-nation region and concern Washington budget talks may lead to a federal shutdown.

    The shared currency gained versus most of its major peers as consumer confidence in Germany, Europe’s biggest economy, increased more than estimated. The yen gained against a majority of its most-traded counterparts amid reduced risk demand. New Zealand’s dollar fell after the nation’s trade deficit unexpectedly widened. The Swedish krona dropped for a fourth day against the dollar as consumer confidence worsened in September.

    “Strength in the euro is very supported by the German consumer confidence data,” Ravi Bharadwaj, a Boston-based senior market analyst at Western Union Business Solutions, a unit of Western Union Co., said in a telephone interview. “Most market participants are also very aware of previous shutdowns in the U.S., and are behaving accordingly.”

    source_http://www.bloomberg.com/news/2013-09-24/dollar-holds-gains-as-budget-talks-spur-haven-appeal-kiwi-drops.html

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  6. #45
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    While Europe struggles to raise its economic growth rate, when it does it provides a more powerful boost to the world economy than the U.S., says Barclays Plc in a challenge to conventional wisdom.

    A 1 percent increase in aggregate demand in Europe’s developed nations gives 33 of 39 international economies a bigger lift in their gross value added, a proxy for gross domestic product, than if the higher demand had occurred in the U.S., Barclays strategists including London-based Jim McCormick said in a Sept. 25 report.

    The impact of the European demand rise on the entire world is more than 0.25 percent, three times the U.S. effect. The explanation is that that Europe has a bigger economy with greater trade links and its banks are more exposed globally, McCormick, Barclays’ global head of asset allocation research, told reporters in London yesterday.

    source_http://www.bloomberg.com/news/2013-09-26/europe-tops-u-s-as-global-growth-locomotive-cutting-research.html

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    Europe’s nascent economic recovery is too green to make any impact on the region’s jobs market yet, according to economists.

    Unemployment in the 17-nation euro area remained at a record high of 12.1 percent in August, according to the median estimate of 30 economists in a Bloomberg News survey. The European Union’s statistics office is due to publish the jobless numbers at 11 a.m. tomorrow in Luxembourg.

    Europe is faced with a high level of structural unemployment and this is not going to change any time soon,” said Annamaria Grimaldi, an economist at Intesa Sanpaolo SpA in Milan. “The recovery is happening painfully slowly and that’s another reason why we’ll see jobless rates far above 11 percent well into 2015.”

    source_http://www.bloomberg.com/news/2013-09-29/europe-s-record-jobless-rate-seen-resisting-recovery.html

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    European Central Bank President Mario Draghi said policy makers’ pledge to keep interest rates low explicitly allows for cuts in borrowing costs if market volatility resumes.

    “The Governing Council has unanimously agreed to incorporate an easing bias that explicitly provides for further rate reductions, should the volatility in money market conditions return to the levels observed in early summer,” Draghi said at the Economic Club of New York yesterday.

    source_http://www.bloomberg.com/news/2013-10-10/draghi-says-ecb-guidance-allows-rate-cuts-if-volatility-returns.html

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  9. #48
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    In Madrid, the government is paring spending on roads and rails. In Rome, state property is to be sold off. In The Hague, lawmakers agreed to the second set of extraordinary cuts in two years.

    Even with the 17-nation euro area projecting economic expansion next year for the first time since 2011, policy makers are keeping a fiscal leash on growth by maintaining austerity policies born in the fight to save the euro.

    That’s because for the first time officials in Brussels will get to review spending plans before they are approved by national parliaments. The European Commission, the European Union’s regulatory arm, was empowered to demand revisions in a bid to impose discipline and encourage coordination.

    source_http://www.bloomberg.com/news/2013-10-16/euro-capitals-tighten-fiscal-leash-as-eu-starts-austerity-police.html

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  10. #49
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    Thomas Bellinck, a Belgian theater director, has put a date on the European Union’s collapse: 2018.

    The doomsday timeline of his Brussels exhibition called “Life in the Former EU: Final Years of the Long Peace,” presented the bloc’s six-decade run as a peaceful interregnum before the continent’s relapse into nationalism, an interlude where technocrats were too focused on regulating the diameter of tomatoes as their experiment in multinational democracy withered.

    “We need national politicians who are either prepared to defend the project and redo it or admit that they don’t want to do it,” says the 30-year-old Bellinck. “But now we have something in-between.”

    source_http://www.bloomberg.com/news/2013-10-21/europe-breakup-forces-mount-as-union-relevance-fades.html

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    European Union leaders recommitted to seek a joint strategy this year for how to handle failing banks in order to prepare the euro zone for European Central Bank financial oversight.

    The leaders last year sought to break the link between struggling banks and the euro zone’s sovereign-debt crisis by handing the ECB supervisory powers, the first step toward a broader banking union. The European Commission followed up by proposing a Single Resolution Mechanism for failing lenders.

    source_http://www.bloomberg.com/news/2013-10-25/eu-leaders-pledge-to-reach-euro-bank-failure-agreement-this-year.html

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