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  21/2/2010 - After the close of stock markets, Thursday 18 February, the Fed decided to increase the surprise of the official discount rate from 0.25% to 0.75%, after three years of progressive reductions. Nervous reactions to the first Thursday evening in closed markets, has gradually replaced during the day on Friday, a more serene. The markets seem to have taken the good version spread from commenting on the Fed decision this move is not due to a change in strategy, which would put the start of a restrictive policy, but are the result of improved financial conditions. The euro dollar exchange rate is thus led by the values of 1.347 at the opening on Friday morning at the close of 1.36 on Friday evening. The strengthening of European currencies despite the rise in rates by the Fed probably hides the knowledge that is registered by the European currency's weakness against the dollar in recent weeks may be due more to problems that seem to go through the economies of some countries in the euro such as Spain and Greece, rather than to an intrinsic weakness of the European currency against the greenback has further appreciated that even in the hours immediately following the emotional phase generated by the increased discount rate. It 'still too early to tell whether the change will retrieve the average values of 1.50 just three months ago, or whether it will pursue the weakening euro against the dollar. In this regard, the moves of the ECB, the European Central Bank will be decisive. Not be excluded at this point, perhaps even in the short term, an increase in the discount rate in Europe, also in view of the fact that the increase in the discount rate in the United States rose by 0.50%, while many operators expect, at most, a quarter-point adjustment