Aug 13, 2008 / 3:56pm / in Eastern Europe, General, Interest Rates, News Releases, Western Europe, Forex News
It is not easy for many to admit that they made an error. It seems the President Trichet might finally be starting to embark on that difficult path. After raising rates in the Euro-Zone over the protests of many top figures within that continent, Trichet finally admitted what the rest of the world had realized some time ago: the Euro-Zone’s growth prospects are weak. This announcement/confession reflects that the ECB is starting to question if it did the right thing in raising rates.
Jul 21, 2008 / 3:20pm / in Asia, Eastern Europe, Economics, General, Middle East, South Pacific, Forex News
Many in recent years have pointed to a “global market” that has emerged in the past few decades. While this term is typically a reference to increased global trade and international economic cooperation, the expression is also becoming applicable to the status of the world’s economy. After several years of widespread economic boon, it is becoming clear that the status has shifted. This has occurred not solely in economic powerhouses such as the U.S., the Euro-Zone, and Great Britain, but in many of the emerging markets throughout the world.
Jul 16, 2008 / 5:18pm / in Eastern Europe, General, Western Europe, Forex News
One of the interesting aspects about today’s country in the Random Country Report is its youth; the country abandoned communism less than twenty years ago. Hungary, like many of neighbors, is a relatively young republic, and while many countries have had centuries to adapt to capitalism, Hungary has had about eighteen years to acclimate to a free market. Considering that with the fall of communism, Hungary lost — seemingly overnight — access to about ¾ of its export market, one has to be impressed with the strides that the country’s economy has taken.
Jun 30, 2008 / 4:11pm / in Eastern Europe, Fundamental, General, Interest Rates, Western Europe, Forex News
With this week’s ECB’s decision all but official, a more important question looms: what’s next? The ECB is a bank whose primary focus — witnessed in both its charter and its past actions — is price stability. Despite poor economic performance in recent months, the ECB essentially has to raise rates this week, as the Euro-Zone’s current inflation level is double the target of 2%. While President Trichet and his peers may pray that a single, small hike will be enough to curb rising inflation, the more likely scenario is that the policy move will not have a huge effect.
Jul 24, 2007 / 6:43am / in Eastern Europe, Economics, Fundamental, Interest Rates, United States Dollar, Western Europe, Forex News
EUR/USD has been establishing fresh highs almost daily for the past two weeks. The upward movement in the currency pair is due to a variety of factors pointing to both euro strength and dollar weakness. Economic growth within the Eurozone is forecast to be 2.6% in 2007, putting the 13-country region at a pace behind only Great Britain among the industrialized world. Also, most currency analysts expect at least one more rate hike this year, probably in October. Money follows yield in the forex market, and that is ce
Jul 20, 2007 / 9:52am / in Eastern Europe, Travel Tips, International Travel
Visiting Krakow, the cultural capital of Poland, is something I recommend to everyone. Krakow’s Old Town was declared a UNESCO’s World Heritage Site in 1978and it became the most densely ‘pub-populated’ UNESCO Heritage Site in the world. Some Krakovians pride themselves with a saying that there’s more drinking holes per square meter here than anywhere else. And although the service is not always the best and finding a place to sit after 10 pm may be difficult, the spark of the vibrant Krakow night life will surely brighten up your travels.
Jul 18, 2007 / 11:07am / in Eastern Europe, Travel Tips, International Travel
If the magic of medieval European cities is what you’re into, you’ll love Tallinn. I fell in love with Tallinn immediately, when I visited the Estonian capital for the first time a couple years ago. Full of 13th through 17th century buildings, churches and towers, the city offers an interesting cultural mix of Danish, Swedish, Russian, and German influences.
Jul 13, 2007 / 7:19am / in Eastern Europe, General, Travel Tips, International Travel
Loket Castle is an absolute gem. Located in Western Bohemia, two hours west of Prague, Loket is only a short trip from more famous tourist destinations like Karlovy Vary and Marianske Lazne. The castle dates back to the twelfth century, and it is beautifully preserved, mostly because it has been declared a national monument.
Jul 9, 2007 / 8:03am / in Currency, Eastern Europe, Economics, Fundamental, Western Europe, Forex News
European Central Bank President Jean Claude-Trichet spoke to a group of students and economists recently on the overwhelming success of the euro. Europe as a whole is definitely going through a boom period right now with unemployment in the continent at a 25-year low and steady growth. Much of that success, Trichet claims, should be credited to the unified economic and monetary policy. I want to spend some time this morning talking about that assertion and how the euro has been good (and bad) for Europe.
Dec 5, 2006 / 8:25am / in Asia, Eastern Europe, Forex Trading, Interest Rates, Forex News
November inflation data was published yesterday above expectations. Although lowering from above 11% earlier this year, CPI came in at 9.9% YoY. PPI came in at 12.7%. The most likely response from the central bank will be to not lower the rates anytime soon.