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  • European Debt Crisis Could Impact U.S. - 15 December 2011
  • In a meeting on Capitol Hill on Wednesday, Federal Reserve chairman Ben Bernanke reportedly revealed to Republican senators that he is concerned about the unresolved European debt problem, noting that a collapse of European markets would be detrimental to the United States. Despite the so-called 'fiscal plan' agreed to by Eurozone members last week, Bernanke is not the only influential figure voicing his concern over the ability of European authorities to put their house in order. Britain is not in agreement with the plan, a key point of which is for Eurozone members to contribute an additional €200 billion to the IMF. A further indication that enthusiasm for the fiscal plan is waning, is the fact that the euro fell to below the $1.30 mark on Wednesday, its lowest point since mid-January this year. The reasons for the rise and fall of the euro are many, and theories and opinions abound, but the fact remains that the national debts of some euro members, most notably Greece and Ireland, have brought the currency to the brink of collapse, and leaders are desperate for a solution.

  • European Debt Crisis Impacts Wall Street - 12 September 2011
  • Rumors that Greece is likely to default on its enormous debt caused ripples of apprehension around the financial world, resulting in investors selling off stocks, and US markets dropping sharply on Friday. Speculation is rife that the country may very well not get the next installment of bailout funds allocated by the European Union, the European Central Bank and the International Monetary Fund – at least until the so-called troika is assured that austerity measures in Greece are going to achieve what they have set out to do, reduce the government’s debt. All seventeen nations using the euro as currency – the Eurozone – need to approve of further bailout funds being issued to Greece. While all eyes are on Greece at present, Portugal, Ireland, Spain and Italy are also struggling, and analysts have expressed doubts that the European Financial Stability Facility (EFSF) will be able to pull all these ailing economies through the current financial crisis.

  • US$ vs € as International Trade Currency - 14 April 2011
  • As the currency most often used in international transactions and one of the world's reserve currencies, the United States dollar (US$) has a history spanning more than 200 years. In addition to being the official currency of the United States, the US$ is either the official or de facto currency of the British Virgin Islands, the Caribbean Netherlands, East Timor, Ecuador, El Salvador, Federated States of Micronesia, Marshall Islands, Palau, Turks and Caicos Islands, Palau, Panama, Cambodia, Lebanon, Liberia and Zimbabwe.

  • Wal-Mart Results Reveal Shaky Consumer Confidence - 24 may 2010
  • While the state of the economy of a number of European Union countries continues to be a cause for concern, and the Euro continues to flounder, US stock market players will no doubt be turning their attention to their home ground as they face a flood of reports indicating the economic health of the United States in the coming week. Among the reports expected this week are key readings on labor, individual income, housing, consumer sentiment and spending trends, and the country’s GDP.

  • Oil Slides Back Toward $74 - 21 December 2009
  • As temperatures plummet with the winter months in many parts of the US, some speculators appear to be expecting increased crude demand to result. Benchmark crude oil prices were up $1.22 to $73.87 in early Friday (December 18) morning trade on the New York Mercantile Exchange.

  • Wall Street Rallies in Response to Fed’s Latest Credit Crisis Plan - 19 March 2009
  • Wall Street responded positively to the announcement by the Federal Reserve that it plans to buy another $750 billion in mortgage-backed securities and $300 billion in long-term U.S. treasuries over the next six months in a renewed effort to get credit flowing again. The plan was revealed following the latest meeting of the Federal Open Market Committee, the Fed’s policymaking committee that determines interest rates. While the news was not totally unexpected, due to the fact that the Fed had previously stated it may consider following this course, stocks nonetheless turned higher on the strength of the announcement. The Dow picked up by 1.2 percent on Wednesday, with both the S&P and Nasdaq gaining more than two percent.

  • First Week of 2009 U.S. Trading Proves Disappointing, Euro Weathering Global Financial Storm - 12 January 2009
  • While the year started off with investors being cautiously optimistic that better times may be in sight, the first full trading week of 2009 was disappointing and revealed that, although it is a new year, the old anxieties that dogged the market in 2008 continue unabated. The report on the state of the U.S. job market released on Friday is being cited as the primary reason for the U.S. stock market decline, which saw the trading day ending with the Dow Jones industrial average down 1.64 percent, the Standard & Poor’s 500 shedding 2.13 percent and the NASDAQ Composite retreating 2.81 percent.

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