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There was actually very little focus at the G20 on the forex markets and recent volatility. The main interest was the pledge to double the amount of resources of the IMF, this essentially comforted the markets and encouraged risk appetite. For the week ahead, the main highlight will be the US interest rate decision on Wednesday [...] Following dreadful US consumer confidence data earlier in the day the Dow posted a 2% rise, this after Bernanke testified to the Senate on the health of the US economy. He again highlighted that the US economy still faces further contraction, however he intimated that the US government would not move to nationalize US [...] Asian stocks fell heavily this morning following last night’s sharp decline in American shares. Investors responded to fears that the world’s largest economy is sinking further into recession and speculation that the US Government may be forced to buy stakes in ailing banks, despite assurances from Washington that lenders would not be nationalised. Japan’s Nikkei Index [...] Last week although the currency markets were choppy, we did not see a significant break out of the current ranges for the main protagonists- GBP/USD, EUR/USD and GBP/EUR. What we did see was more negativity in the equity markets as the Dow fell to the 2002 lows below 7300 amid fears that the US [...] With a target Fed Funds Rate ( the rate at which The US major Banks are able to borrow overnight Dollars) already at a 0 – 0.25% level, further cuts are nigh on impossible. Attention therefore was firmly fixed on any mention of more innovative easing initiatives and also the mood of the accompanying statement. [...] Following the marginally weaker than expected data yesterday afternoon and a growing anticipation of a greater than 50bp cut in the Fed Funds target rate this evening. We saw highs in cable and euro at a tad over 1.5350 and 1.3725 respectively before caution again took the upper hand. Today, consolidation at these slightly lower [...] Stocks suffer as a combination of weak economic and corporate news reinforced fears of a prolonged global recession. Where to start; news from China showed that the economy there is in sharp decline removing any hope that China’s growth will cushion the impact of the global downturn and reversed optimism sparked by China’s announcement over the [...] Loans Calculators are now live online. Having waited over six months for clearance from the UK’s Office of Fair Trading (OFT) , we are pleased to announce our new loan calculator daily online service. Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, [...] Morgan Stanley has issued a full recession alert for the US economy, warning of a sharp slowdown in business investment and a “perfect storm” for consumers as the housing slump spreads. In a report “Recession Coming” released today, the bank’s US team said the credit crunch had started to inflict serious damage on US companies. “Slipping sales [...] Earlier last week, the chance of a 25 vs. 50bp rate cut was close to fifty-fifty. Now, the odds for a half point cut are less than 25 percent because the payrolls figure was not bad enough to warrant a larger rate cut. Managing expectations has become a big component of the Fed’s job these [...] Registered Office in England, 24 Charlton Drive, GL53 8ES, UK- 3506015 • Data Protection Registration Number- PZ5407728
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