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independent.ie
IRELAND is set to grow faster than any other economy in the eurozone this year and next year except for Estonia and tiny Malta, the European Commission forecast yesterday.
The economy will expand by 1.1pc this year and 2.2pc next year, it predicts. Adding to the positive sentiment, Irish stocks posted the biggest one-day gain since last June to close at a four-year high.
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hotair.com
When the final figures for the fourth quarter of 2012 are in, the world will have a new crude oil production record: the total for the first three quarters was about 1 percent ahead of the 2011 total. This is a remarkable achievement for a commodity with annual output that now surpasses, for the first time ever, 4 billion metric tons and which has been, for decades, the largest source of fossil energy and the most valuable item of international commerce. …
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ibtimes.co.uk
Muto had been considered the leading candidate to replace incumbent Masaaki Shirakawa, who leaves on March 19 after a five-year term. Muto remains on the short list with strong backing from bureaucrats at the powerful Ministry of Finance.
"Japan now needs a governor who can join, communicate and convince people in the inner circles of global finance," Abe told parliament on Wednesday.
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tulsaworld.com
MUMBAI, India (AP) - India's steep new tax on gold imports doesn't deter Mousumi Rao as she holds up a glittering $5,000 filigree necklace that could adorn her daughter on her wedding day.
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cnbc.com
Interest rates are generally low around the world, and major central banks have quantitative easing programs in place. Those conditions mean gold's lack of yield is less of an issue, and they usually translate to higher gold prices. Just not now.
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dailytelegraph.com.au
THE Japanese government of Shinzo Abe is set to nominate Asian Development Bank president Haruhiko Kuroda as governor of the central bank, reports say, sending the dollar surging against the yen.
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http://uk.reuters.com
The Canadian dollar softened to its weakest level in eight months against its U.S. counterpart on Monday after the release of a speech by Bank of Canada Governor Mark Carney, even though it made no mention of the central bank's monetary policy outlook.
The Canadian dollar touched C$1.0270 versus the U.S. dollar, or 97.37 U.S cents, weaker than Friday's North American session close at C$1.0208, or 97.96 U.S. cents. This was its weakest level since June 29, 2012.
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cnbc.com
The euro slumped to $1.3047 overnight, its lowest level in almost seven weeks, following early results from the voting in Italy that took place on Sunday and Monday.
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couriermail.com.au
JAPAN'S parliament has passed a $US142 billion ($A138.69 billion) extra budget that forms a key part of Prime Minister Shinzo Abe's efforts to tackle the deflation that has dogged the economy for years.
The package squeaked by the opposition-controlled upper house of parliament less than two weeks after the lower house approved the spending.
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reuters.com
- Euro rises to session high of $1.3119 as buyers emerge on dips
- But gains limited as Italy political gridlock weigh
- Euro rise capped at $1.3123, its 100-day moving average
- Bernanke's testimony at 1500 GMT
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rt.com
Japan’s parliament has passed a 13.1 trillion yen ($142 billion) additional budget, part of a wider stimulus package announced by Prime Minister Shinzo Abe's cabinet in January to boost the national economy and fight deflation.
The original budget for the 2012 fiscal year amounted to 90.3 trillion yen ($1.16 trillion). The new budget for 2013 stands at 92.6 trillion yen ($1.02 trillion), relying on borrowing to cover 46.3% of the spending.
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http://etfdailynews.com
For the past several weeks, everywhere I looked all I could find was bullish articles. After the fiscal cliff was patched at the last second, prices surged into the 2013 and have since climbed higher all the way into late February.
The price action in the S&P 500 Index since February 20th has erased most of the gains that were created in the entire month of February already and lower prices are possible, if not likely. However, there are opportunities to learn from this recent price action.
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reuters.com
Hospitality Properties Trust (NYSE: HPT) today announced that it has entered a letter of intent and an exclusive negotiating period for hotel investments with NH Hoteles, SA (BME: NHH) (NYSE: NHHEY (ADRs)) in Latin America, Europe and the USA totaling approximately US $375 million.
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resourceinvestor.com
U.S. dollar gold bullion prices fell slightly in Wednesday morning's London trading, but held above the $1,600 per ounce level it rallied above yesterday after Federal Reserve chairman Ben Bernanke told Congress that that Fed's ongoing quantitative easing policy "is providing important support to the recovery" and that the benefits "are clear."
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couriermail.com.au
The euro was priced at $1.3136 around 0900 AEDT up from $1.3061 late on Tuesday.
The dollar's decline came as US Federal Reserve Chairman Ben Bernanke wound up two days of twice-yearly testimony to Congress, reaffirming that the Fed would continue its ultra-loose monetary policy to support the tepid US recovery.
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reuters.com
* Euro off lows, steadier after early-week selloff
* Healthy demand at Italy bond sale offset political uncertainty
* Strong U.S. durable goods orders support risk appetite
* Japan nominates Kuroda as next BOJ chief as expected, no yen reaction
* Market takes U.S. fiscal spending cuts threat in stride
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dailyfx.com
I sold EURSEK at 8.7315 expecting Risksbank to keep rates on hold while the ECB leans toward easing in 2013 as recession lingers. I added to the position at 8.6409 as a corrective rebound launched in early January faltered. Prices are now consolidating below resistance at 8.4764 and I wil continue to hold short, looking for a close below 8.4234 to expose 8.3618. A stop-loss will be triggered on a close above 8.6377.
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dailyfx.com
Royal Bank of Canada (RY on TSX and NYSE) today reported net income of $2,070 million for the first quarter ended January 31, 2013, up $215 million or 12% from the prior year, and up $159 million or 8% from the prior quarter, reflecting record earnings in both Personal & Commercial Banking and Wealth Management, as well as strong performance in Capital Markets.
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reuters.com
* Euro poised to notch worst loss vs dollar since May 2012
* Concerns about Italian political deadlock weigh on euro
* IMF to cut growth forecasts if U.S. spending cuts emerge
* Japan nominates Kuroda as next BoJ chief, as expected
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reuters.com
* Italy election aftermath, U.S. spending cuts weigh on sentiment
* China manufacturing data slightly worse than some expected
* Yen remains pressured as BOJ gears up for deflation fight
The euro was at $1.3073, up about 0.1 percent and holding above a seven-week low of $1.3018 hit earlier in the week. A break of that level would bring into focus its 2013 low of $1.2998.
The euro lost about 4 percent against its U.S. peer in February, its biggest monthly slide in nine months.
Against the yen, the euro rose 0.2 percent to 121.12 yen , after rising as high as 121.84 earlier in the session.
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reuters.com
* Dollar rallies, euro and sterling hurt by poor data
* Some speculation of ECB rate cut pushes euro lower
* Rate differentials move in favour of United States
The dollar rose to a six-month high against a basket of currencies, buoyed by sharp gains against the euro on growing evidence the U.S. economy is picking up even as the euro zone struggles.
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nasdaq.com
"We will get through this, will not be an 'Apocalypse'". Those were the words US President Barack Obama used to partly alleviate the 'sequester' burden, and the excuse that risk-related assets found to halt the downside and start picking up pace. The euro found some oxygen after President Obama's comments, climbing back above the 1.3000 psychological limestone, although the selling pressure still dominates the scenario.
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As I fully forex news guy :) I want to remind that FXstreet Economic Calendar indicator was created for Metatrader4 and uploaded to our forum - go to this thread to download. It is the first FXstreet calendar for MT4.
economictimes.indiatimes.com
MUMBAI: The rupee weakened by about 1 per cent against the greenback on lumpy dollar outflows from a private bank and also due to a weak Euro, even as the Sensex closed 57 points up at 18918.52 on Friday.
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telegraph.co.uk
Beppe Grillo, the comedian who was the big winner in Italy's election, suggests Italy may have to abandon the euro and go back to the lira, and renegotiate its gigantic debt.
Markets were jittery in trading on Friday, with the Milan index plunging 1.54 percent - the worst performer among major European stock markets.
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forbes.com
“China is fully prepared,” Yi was quoted saying in China Daily. “In terms of both monetary policies and other mechanism arrangement, China will take into full account the quantitative easing policies implemented by central banks of foreign countries.”
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dailyfx.com
The Australian Dollar eyes the RBA statement as mixed signals are sent by improved domestic and Chinese data with a concerning global macro-economic backdrop.
t the first Reserve Bank of Australia meeting for 2013, the RBA decided to hold interest rates at 3.00 per cent, the interest rate since December of 2012. The decision to hold rates came after some relatively soft Australian retail data for the month of January, as well as some data out of China to suggest that growth was stabilizing.
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dailyfx.com
- Australian Dollar Sinks as China News-Flow Dents Sentiment
- Yen Looks to Capitalize on Carry Unwind Amid Risk Aversion
- Eurogroup Summit Eyed for Clues on a Way Forward in Italy
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dailyfx.com
The Dollar may do especially well against “high-Beta” currencies such as the Australian Dollar and Canadian Dollar, which have both broken below key support levels versus their US namesake.
One especially bright spot for said system has been the Japanese Yen and particularly the Euro/JPY and other cross rates. With the recent reversal in the EURJPY, however, we are admittedly left to question whether the recent JPY bounce could be the start of a larger correction. If it is indeed the start of a larger breakdown in JPY cross rates, the one-way breakout trade that has served us so well may soon prove more difficult.
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reuters.com
The dollar fell against the yen on Tuesday, pressured by a sell-the-fact reaction following the confirmation hearings of the government's nominees for the two Bank of Japan deputy governor posts.
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dailyfx.com
The meeting of European Union finance ministers kicks off today following yesterday’s meeting of Euro-zone ministers in Brussels. The most important message from yesterday’s meeting for Euro traders was that austerity targets for growth hungry countries, like France and Italy, may be relaxed. Other topics at the meeting yesterday included the Cyprus bailout and discussion of capping bankers’ bonuses, neither topic has had significant impact on Euro trading.
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reuters.com
The euro and commodity currencies held firm on Wednesday, underpinned by improved risk appetite that saw the Dow Jones Industrial Average hit a record-closing high.
The euro gained 0.1 percent in Asia to $1.3067, extending its recovery from a six-week trough of $1.2966 set on Friday while sterling was a touch firmer at $1.5146, edging back from Friday's 2-1/2 year low of $1.4985.
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theaustralian.com.au
TREASURER Wayne Swan says the latest national growth numbers reaffirms Australia's position as one of the most resilient economies in the world.
The Australian Bureau of Statistics said the economy grew by 0.6 per cent in the December for an annual rate of 3.1 per cent.
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investing.com
The U.S. dollar edged higher against the Canadian dollar on Wednesday, ahead of the Bank of Canada’s policy decision later in the session and after data showed that the U.S. private sector added more jobs than expected last month.
USD/CAD hit 1.0296 during early U.S. trade, the pair’s highest since Monday; the pair subsequently consolidated at 1.0282, gaining 0.12%. The pair was likely to find support at 1.0215, the low of February 28 and resistance at 1.0312, the high of the same day.
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reuters.com
- Euro faces pressure ahead of ECB meeting
- Bets on range-trade in yen grow popular
- Australian dollar benefits from growth data
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youtube.com
http://youtu.be/XIfrDvNv2gI
marketwatch.com
BEIJING (Caixin Online) — Money supply to the market resulting from foreign exchange being converted to yuan at banks surged in January, data from the central bank shows.
The bank uses funds outstanding for foreign exchange to estimate the amount of yuan USDCNY +0.03% put into the domestic market equivalent to foreign exchange taken in by all banks during the same time. Traditionally, the funds have been a major component in the country’s total money supply.
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nbr.co.nz
The New Zealand dollar fell after upbeat US private sector jobs data built up expectations for employment in the world's biggest economy and after Australia's trade deficit was bigger than forecast.
The kiwi traded at 82.74 US cents at 5pm in Wellington from 82.78 cents at 8am, down from 83.29 cents yesterday. The trade-weighted index declined to 76.14 from 76.32.
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rt.com
IMF confirmed that the AUD and CAD will appear as reserve currency within three months. This emphasizes the spiraling demand for additional reserve currencies and the New Zealand dollar has the best chance to join the list, according to experts.
"The IMF is expanding the list of currencies separately identified in the Composition of Foreign Exchange Reserves reporting (COFER) template," said an IMF spokeswoman as cited by The Wall Street Journal. "The implementation of the revised COFER Report Form, with separate identification of the Australian dollar and Canadian dollar, is scheduled for the first half of 2013."
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