Turkey raises rates following emergency meeting
The Turkish governor of the TCMB, Erdem Basci, raised rates on overnight lending and borrowing to stop the slide in the Turkish Lira. Lending rates now stand at 12%, while borrowing rates were raised to 8%. During a single trading day last week, the Turkish Lira slid 15%. There was a moderate rebound in the Lira […]
French Unemployment rate reaches a record
Frances rate of unemployment now stands at 11.1%. More than 3 million are either looking for or are out of work. This represents an increase of 5.7% for the year 2013. French President Hollande is in Turkey today.
Japan’s Trade Deficit increases a little over 65% for 2013
The Japanese government has released data showing the largest ever trade deficit in the nations history, primarily caused by the currency depreciation of the Yen. Devaluing the Yen is intended to help balance trade by boosting exports and increasing margins on those goods sold overseas as international currencies settle back into Yen. The taking off-line […]
GBP gains versus the Euro
The UK showed December retail sales were up year-over-year. This represents the fourth week in five that the pound has increased versus the Euro.
Ireland is back in business
Moody’s rating agency upgraded Ireland to investment grade. With a positive outlook.
African companies are helped by rise in commodity prices
With iron-ore prices increasing, Kumba Iron Ore Limited closed up 30% for the trading day.
Japans Topix advances 0.2% on strong sales
The Topix index was up 0.2% on stellar earnings from Mitsubishi and Fujikura. Stimulus driven Japan is continuing its torrid pace towards growth. 2013 was one of the best years in more than a decade. The month of January continues to show a strengthening Japan.