thenews / Profile

To listen to the German and French governments, the European Central Bank and European Commission, no one was responsible for the Cypriot deposit tax that was unanimously endorsed in the early hours of March 16 and fell apart yesterday. German

The FOMC just released the statement from its March meeting. To sum it up, Federal Reserve bond buying is still full speed ahead at $85 billion per month, but the FOMC notes that fiscal policy has become somewhat more restrictive since the last

The European Central Bank said on Thursday it had decided to allow the central bank of Cyprus to keep providing banks with emergency funding until next Monday. With Cyprus sovereign bonds ineligible for use as collateral for ECB refinancing

Euro zone finance officials acknowledged being "in a mess" over Cyprus during a conference call on Wednesday and discussed imposing capital controls to insulate the region from a possible collapse of the Cypriot economy. In detailed notes of the call

It's going to be a surprisingly stacked day for economic data. We already wrote earlier about CPI, which is coming out at 8:30. It's particularly interesting, because with the economy gathering steam, watching inflation measures will be more

Just when you thought the dollar was headed north, along comes a downbeat economic report to monkey up the works. Consumer sentiment unexpectedly plummeted in March, as Americans grew dissatisfied with the gridlock in Washington and skeptical about

Euro-area finance ministers pushed through the night toward a Cyprus rescue deal after German Chancellor Angela Merkel said Europe must act to support Cyprus after nine months of bailout talks. Policy makers began meeting at 5 p.m. yesterday in

The euro zone struck a deal on Saturday to hand Cyprus a bailout worth 10 billion euros ($13 billion), but demanded depositors in its banks forfeit some money to stave off bankruptcy despite the risks of a wider bank run. Cyprus becomes the fifth

We noted with a bit of amusement on Friday that actress Mila Kunis said she was getting more into investing, and planning to hold less cash. In his latest Up & Down Wall Street column, Barron's Randal Forsyth says signs are popping up all over the

In the early hours of Saturday, Cyprus agreed to a "bailout" with the EU and IMF that is very controversial because it imposes an immediate one-time tax on everyone with money in a Cypriot bank before banks reopen on Tuesday (Monday is a holiday)

According to Bloomberg current exchange rate before Asian session open for EURUSD is 1.2947 and is changing from minute to minute EUR to USD Exchange Rate - Bloomberg

The euro weakened against the dollar and the Swiss franc after euro-area finance ministers agreed to an unprecedented tax on Cypriot bank deposits as part of a rescue plan for the country. Europe’s 17-nation shared currency slid 1.1 percent to

Markets are tanking all around the world thanks to the goings on in a country with a GDP that's less than Shreveport, Louisiana's. The news on Saturday that to bail out Cypriot banks, depositors would get slapped with an instant one-off

A crucial vote in Cyprus' parliament on a bailout that has sparked huge public anger has been delayed until Tuesday. President Nicos Anastasiades has been meeting MPs in Nicosia and has indicated he wants the terms amended. The 10bn-euro ($13bn;

The European Parliament on Wednesday called for a fresh negotiation of a contested European Union budget for the rest of the decade that was agreed by leaders at a summit last month. MEPs voted 506 in favour and 161 against with 23 abstentions on a

The euro erased its losses against the dollar to trade slightly higher in mid-morning trade on Thursday. The euro was last at $1.2970 on Reuters data, up 0.1 percent on the day. It had earlier fallen to a three-month low of $1.2910 after the release

Prominent hedge fund manager Kyle Bass – whose big trade right now, known as the "widowmaker" in market circles, is betting against Japanese government bonds – gave a talk at the University of Chicago last week. During the talk, someone asked him

Société Générale strategists are warning clients of another "Eurozone shockwave" coming this spring. In fact, they say it's going to be one of the three major themes driving global currency markets for the rest of 2013. The Italian election yielded

The world is changing, and nowhere is that better illustrated than in a good series of charts. Luckily, we've seen no shortage of excellent charts this week that amply illustrate the changes underway. The best charts this week touch on everything

In December 2006, the ECB established the HFSC network of survey specialists, statisticians, and economists from its own ranks, national central banks of the Eurozone, and statistical institutes. The acronym stood for Household Finance and