- US Equities reversed their gains late on Tuesday to end the session broadly unchanged. The S&P ended 0.17% lower. This morning, most Asian shares trade in positive territory, led by Chinese ones.
- The IMF cut its forecasts for global growth to 4% and warned of severe repercussions to the global economy unless the euro zone nations strengthen their banking system and the US gets its fiscal affairs in order.
- Greece has agreed to front-load austerity measures and is close to securing a deal with its inter national lenders, a Finance Ministry official said yesterday evening.
- Top Congressional Republicans took the unusual step of telling the Federal Reserve to refrain from further intervention in the economy on the eve of a policy decision by the US central bank. The group said the Fed’s policies have been ineffective at supporting economic expansion and boosting employment.
- Italian finance minister Tremonti is drawing up new reforms designed to lift Italy’s stagnating economy in response to market pressures that followed the government’s disappointing austerity budget and following a downgrade of its credit rating.
- Rating agency Standard & Poor’s raised yesterday its local-currency sovereign ratings on the Republic of Turkey to BBB- from BB+ reflecting continuing improvements in Turkey’s financial sector and the deepening of local markets. At the same time, S&P affirmed its national scale ratings on Turkey.
- The German ZEW economic sentiment indicator fell this month to its lowest level since December 2008 as the debt crisis and global slowdown dampened the outlook for growth.
- Today, the eco calendar contains the UK public finance data and US existing home sales. The BoE will publish the minutes of its latest MPC meeting and the FOMC will decide on rates. Germany (Bund) and Portugal (T-Bills) will tap the market.
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GD Star RatingForex – Commodities – Stocks: Headlines of September 21th,