Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

Show news:


26.03.2015 09:20

Press Review: SNB says spent $27 billion to defend franc before dropping peg

BLOOMBERG

Currency War Is Now a Dud as Windfall From Devaluations Vanishes

(Bloomberg) -- Currency wars, it turns out, may not be worth fighting right now.

While weaker exchange rates have at times throughout history helped stoke economic growth by making countries' exports cheaper, the benefits are becoming hard to find.

Nowhere is this more apparent than in developing nations, where currencies have slumped 24 percent on average against the dollar since 2011. Despite this, their annual export growth rate has slowed to 4 percent in the past four years from 8 percent during the previous decade, according to the CPB Netherlands Bureau for Economic Policy Analysis. In Brazil, the real's 48 percent plunge since the start of 2011 has done little to revive an economy heading for its worst performance in 25 years.

Source: http://www.bloomberg.com/news/articles/2015-03-26/currency-war-is-now-a-dud-as-windfall-from-devaluations-vanishes


REUTERS

SNB says spent $27 billion to defend franc before dropping peg

(Reuters) - The Swiss National Bank (SNB) spent 25.8 billion Swiss francs ($26.91 billion) defending the currency late last year before abandoning its peg as too costly for the country's economy, it said on Thursday.

The SNB shocked markets in January when it removed the 1.20 per euro cap on the Swiss franc, sending the currency soaring, stocks plunging and sparking fears for Switzerland's export reliant economy.

The SNB has argued that it had to abandon the franc's three-year-old cap against the euro, but the decision is still reverberating, with politicians stepping up their criticism of the SNB as the economy falters in part due to the strong franc.

Source: http://www.reuters.com/article/2015/03/26/us-swiss-snb-idUSKBN0MM0OX20150326


BLOOMBERG

A Murky, Sloppy Muddle: How Greece's Exit From Euro Could Happen

(Bloomberg) -- With the fight to keep Greece in the euro now in its sixth year, everyone is running out of patience. More importantly, Prime Minister Alexis Tsipras's government in Athens is running out of money.

While bond yields suggest investors expect Greece to stay in the euro, economists such as UniCredit Bank AG's Erik Nielsen say it may be just a matter of time before he's forced to print a new currency.

Adopting the euro was always supposed to be a one-way ticket, so there is no legal precedent or political roadmap for an exit. If you're waiting for a formal announcement of a clear resolution, you may be waiting a long time.

Source: http://www.bloomberg.com/news/articles/2015-03-25/a-murky-sloppy-muddle-how-greece-s-exit-from-euro-could-happen

Market Focus

  • The eurozone started the third quarter on a solid footing, according to PMI survey data
  • Earnings Season in U.S.: Major Reports of the Week
  • German private sector output growth slowed for the second month running in July
  • ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary
July 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002

Quotes

All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

  • © 2011-2017 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Connect with Us
Share on
social networks
Online
consultant
Request a callback
Top Page