Dollar Loses Steam After China Data

The Australian dollar is virtually unchanged despite the release of stronger than expected Chinese trade data.

At 1700 AEST, the Australian dollar was trading at 103.03 US cents, up from 103.05 US cents at the last local close on Thursday. It was also buying 78.7 euro cents, 64.9 pence and 83.7 yen.

Commonwealth Bank currency strategist Peter Dragicevich said the currency rallied early on Tuesday afternoon following the release of stronger than expected Chinese trade data.

Official Chinese data showed the country recorded a trade surplus of $US5.35 billion in March, a stark turnaround from a $US31.48 billion deficit in February. [Read more...]

U.S. Dollar Rises On Fifth Month Of Stronger Consumer Spending In February

U.S. personal consumption expenditure (PCE) rose for the fifth straight month in February. Core PCE climbed by 0.1 percent in February from the previous month, after rising by 0.2 percent in January. On a yearly basis, core PCE rose by 1.9 percent, unchanged from the pace seen in January. These figures were in line with the consensus forecasts of economists surveyed by Bloomberg News.

According to the Bureau of Economic Analysis, personal income rose by $28.2 billion, or 0.2 percent, while disposable personal income (DPI) increased by $18.9 billion, or 0.2 percent, in February. January’s personal income estimates were revised downwards to 0.2 percent from 0.3 percent. Meanwhile, personal spending soared by $86.0 billion, or 0.8 percent, notably higher than the 0.4 percent gain seen in the previous month. Economists had called for a 0.4 percent increase in personal income and a 0.6 percent gain in personal spending. [Read more...]

Yen Firms On Surprise Japan Trade Surplus

The yen strengthened against the dollar in Asian trade on Thursday after Japan posted an unexpected trade surplus in February, offering some hope for its plodding economy.

The dollar eased to 83.30 yen in Tokyo, down from 83.87 yen in New York late Wednesday.

The euro was changing hands at $1.3238 and 110.27 yen, compared with $1.3211 and 110.22 yen on Wednesday.

Japan logged a trade surplus of 32.9 billion yen in February, after posting a record trade deficit in the previous month, according to data released just before trading started. [Read more...]

You Deserve The Best

There are many reasons why a lot people may need to get a loan fast. And with a large number of individuals and families literally living from one pay check to the next, a great number of lenders also are offering payday loans to those who are cash strapped. For many, life’s unexpected problems often result in a cash shortage, utilities being turned off or car payments being late. Luckily for those who are in immediate need of funds for a doctor visit, medicine, groceries, fuel, car repairs, and etc. payday loans often provide the answer to an otherwise serious problem.

Meanwhile, there’s nothing magical in searching the best loans to suit you. You just need the widest choice and access to a large database of potential lenders who will help you choose the best package to suit your requirements from amongst the hundreds on offer. Choosing the best payday loan is often a good way of doing the important work that some people inevitably need. You are best, thus, you deserve the best. So if you need loans, be it the best or payday, then better visits the above mentioned. You won’t have to wait too long to get the money you need. Hence, whatever you agree upon, be sure to settle everything to avoid misunderstandings.

Markets Steady As Greece Awaits Bailout

Markets were steady Monday ahead of a meeting of European finance ministers that is expected to pave the way for a second massive bailout for Greece that will prevent the debt-ridden country’s imminent bankruptcy.

Ministers from the 17 countries that use the euro are meeting later and Greece will again be at the top of the agenda. After last week’s broadly successful bond swap with its private creditors, Greece will hope that it has met the conditions its partners in the eurozone attached before they finally rubber-stamp the country’s euro130 billion ($171.48 billion) financial rescue.

Though the bond swap, which shaves some euro105 billion ($138 billion) off Greece’s euro368 billion ($485 billion) debt mountain, is likely to give Greece some breathing-room to enact another round of austerity and reform measures, many analysts think the country’s debt remains unsustainable. [Read more...]

Dollar Reaches 10-Month High As Jobs Gains Dim Outlook For More Fed Easing

The dollar strengthened, touching a 10-month high versus the yen, as better-than-forecast payrolls damped Federal Reserve monetary stimulus speculation.

The euro fell for a second week against the dollar as Greece’s use of collective-action clauses forcing investors to take losses under the nation’s debt restructuring will trigger payouts on $3 billion of default insurance. Mexico’s peso and Canada’s dollar rose against their 16 most-traded currencies amid stronger economic data for their biggest trading partner. The Dollar Index reached three-week high before the central bank holds and policy meeting March 13.

“The payrolls news sets the stage for the Fed finding it increasingly difficult to talk about further quantitative easing,” said Shahab Jalinoos, a senior currency strategist in Stamford, Connecticut, for UBS AG. “A trend of stronger dollar seems to be establishing itself. The currencies that are bucking that trend seem to be Mexican peso and Canadian dollar, which people see as better variations of the U.S. dollar.” [Read more...]

Card Fraud Falls To Its Lowest Level For 11 Years

The amount of money lost due to fraud on credit and debit cards fell last year by 7% to £341m – its lowest level for 11 years.

The drop from 2010 was mainly due to a 41% fall in fraudsters impersonating people to obtain or use credit cards.

There was also a 24% fall in the amount of fraud from cards being faked.

The UK Cards Association said it was the third year in a row that card fraud had fallen, with a drop of 44% since losses peaked in 2008.

It brings card fraud to its lowest level since 2000 when £317m was lost through fraud. [Read more...]