Cultural Currency, Current Affairs, Foreign Exchange

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Tuesday, 31 January 2012

Kim Jong-il is Smart as Sin

Aerial Photograph of North Korea, Kim Jong-il

According to this aerial photograph of Korea taken at night, North Korea only has one light bulb. It floats above Kim Jong-il's head constantly as he invents absolutely everything the world has ever seen. Now that he is dead the bulb still glows because the Dear Leader's intelligence transcends the limits of physicality; in life he never needed to urinate or defecate and in death he remains North Korea's official "Guiding Star of the 21st Century."

Friday, 13 January 2012

Friday 13th French Credit Rating Downgrade

friday 13th, current affiars, France, S&P

This week market volatility has stolen the limelight, with stability and predictability forced into its jagged shadow. The latest news to shake up the currency markets has emanated from Dow Jones Newswires, it suggests that Standard & Poor’s are set to downgrade several Eurozone country’s credit rating this evening. In December S&P placed the ratings of 15 Eurozone countries on negative standby, but since then the European Central Bank has acted to try and improve liquidity through low-interest 3-year loans. Credit freezes looked to have loosened yesterday following ECB President Mario Draghi’s speech in which he lauded the LTRO loans’ positive effect.

Wednesday, 11 January 2012

Mafia Seize Control of the Italian Credit Business

mafia, italian debt, current affairs, credit

The pound has remained in close contact with the Euro today at 1.210, whilst the majors have posted significant gains in the lead-up to tomorrow’s rate decisions from the European Central Bank and the Bank of England. Both the commodity currencies – (due to improvements in the gold and oil market) and the safe haven currencies have performed well today in a strange scenario that sees investors wary of rate cuts or further quantitative easing in the European marketplace.

Tuesday, 10 January 2012

Technical Data vs. Current Affairs

financial district, london, current affairs, bright lights

The Pound to US Dollar exchange rate has fluctuated very slightly around the 1.547 mark today. The week began positively for equities and as a result the Dollar made some minor losses against its riskier rivals. Economic data is thin on the ground today for the pair and risk sentiment looks set to dictate the exchange rate.

Monday, 9 January 2012

Merkozy Talks Prove Characteristically Inconclusive

merkozy, merkel, sarkozy, naked

The Pound has continued its surge against the Euro with the exchange rate currently standing at 1.213. A lacklustre Franco-German press conference kicked off 2012’s ubiquitous ‘Eurozone debt crisis talks’ and managed to off-set some strong economic data released earlier this morning in Germany.

Friday, 6 January 2012

US Nonfarm Payrolls Crank Up the Dollar

current affairs, US jobs, nonfarm

The Sterling to US Dollar exchange rate is currently 1.538. The Dollar has made advancements on the majors, benefitting from its position as the primary safe haven currency in this time of economic global anxiety. Risk correlated assets lost out in the Asian session; the MSCI Asia Pacific regional benchmark equity index lost 1.3% overnight while the greenback gained 0.2%. Risk correlated currencies (Aussie Dollar, New Zealand Dollar, Canadian Dollar) are also under threat from safe haven flows.

Thursday, 5 January 2012

15-Month High Pound to Euro Exchange Rate

harry potter, debt, crisis, eurozone

The Pound is currently trading at 1.210 against the Euro after reaching a 15-month high of 1.211 earlier this morning. Safe haven flows are streaming in from the Eurozone as investors seek respite from the turmoil that has plagued the 17-nation bloc as of late.

Wednesday, 4 January 2012

US Interest Rate Unchanged: Cable Unchanged

manufacturing, current affairs, colours, economy

The Pound and the Dollar remain flat at 1.562 on mixed data released today; Mortgage Approvals, Consumer Credit and PMI Construction rose higher than consensus, but Net Lending and Money Supply sunk further below expectations.

Tuesday, 3 January 2012

UK & Euro Stumble into the New Year

vote, Sarkozy, fear, current affairs

Every New Year shoppers flock to the January sales; Christmas presents get returned; resolutions are broken; turkeys breathe a sigh of relief; and the currency exchange markets return to full functionality. New profit targets are set and new initiatives written up, to ensure rates fluctuate with the same vigour and volatility as the year before.