Eurobonds: Hollande’s view The issue of eurobonds was raised by French President Francois Hollande at the informal EU summit, which was held in May 24 in Bruxelles. The new president of France in favor of the creation of pan-European debt obligations. This act will distribute the debt pressure on 27 EU member states with equal responsibilities. Their presence should reduce the pressure on the markets of "problem" EU countries, which are now forced to borrow money at high interest rates. In addition, eurobonds are able to attract new...
HSBC, Europe’s biggest bank headquarter in the world’s financial capital London, is under a U.S. Senate investigation for violations in its anti-money laundering operations. HSBC was questioned by the Senate Permanent Subcommittee on Investigations chaired by no other than super communist Carl Levin, who unfortunately also heads the Senate Committee on Armed Services. Six current as well as former HSBC executives were present at the hearing and at the very least displayed unity while the Comptroller of the Currency was...
One of the leading economies of the EU, Italian, ceased to decline for the first time over the past two years, indicating the technical termination of the recession. Government reforms have led to positive changes that occur due to an increase in exports and industrial production, while domestic demand remains weak in Italy. Country’s GDP stopped declining for the first time since 2011. National Institute of Statistics of Italy (Istat) presented data on the dynamics of the country's GDP for the third quarter of this year. GDP in...
The USDJPY has entered a steep bump-and-run reversal pattern as visible in this H4 chart. The chart pattern also resembles a rising wedge formation which was induced by the Bank of Japan and their market shock of last Thursday as the vowed to double the size of its balance sheet. This currency pair currently trades close to its support level and is pending a breakdown which could cause the USDJPY to correct all the way down to its 200 DMA. MACD has confirmed the pattern and surged alongside with prices. Momentum has topped out and now...
In the unfolding battle of the central banks, euro continues hand over positions on expectations of a possible ECB rate cuts.In September, as it became known last Friday from the report, the inflation in the eurozone unexpectedly fell to 0.7% vs. 1.1%. Meanwhile, the unemployment rate in the region increased from 12.0% to 12.2%, breaking up hope of recovery of the labor market. In the U.S., the latest macroeconomic data boosted the chances of curtailing the asset purchase program, which is supporting the dollar. ISM manufacturing index rose...
