- — Photo Courtesy of http://www.ce-authorizedrepresentative.eu —
After 25 ½ hours of talks in Brussels, the 2014 – 2020 European Union Budget was agreed upon including deeper cut as pressed by U.K. Prime Minister David Cameron to 960 billion euros down for 1.047 trillion euros less than the current budget.
“We simply could not ignore the extremely difficult economic realities across Europe,” EU President Herman Van Rompuy told reporters. “It’s perhaps nobody’s perfect budget, but there’s a lot of it for everybody. This budget is future- oriented, it is realistic and it is driven by pressing concerns.” Read more for details.
Update from ForexTradegains.com
Forex Trading Gains 3.5%
Last week saw the market break loose after a lull of 8 weeks. A return of +3.5% for the week. Comparatively Certificates of Deposit is currently paying less than 1% per annum.
Forex Trading benefits this week from activity due to the following :
Risk FX continues to perform poorly this morning with the euro, Australian and New Zealand dollars falling to new year to date lows against the greenback. The lack of fresh news flow from Greece is giving investors more time to consider the growing possibility of a Greek euro exit. In fact, U.K. Prime Minister Cameron added fuel to the fire by saying that the June elections in Greece should be a choice about Euro membership.
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ForexTradeGains.com – No European Data
A very quiet night of trade in the currency market due to Ascension day holiday in Continental Europe with EUR/USD consolidating its recent losses while cable saw more selling pressure on some dovish comments by David Cameron.
With no economic data in European session currencies marked time after seeing a small rally in risk during Asian trade in the wake better than expected Japanese GDP numbers. Markets started flying after the Philly Fed Manufacturing Index was announced. We took some very nice profits from that.
—Profiting With Forex: The Most Effective Tools and Techniques for Trading Currencies
—The Sensible Guide to Forex: Safer, Smarter Ways to Survive and Prosper from the Start (Wiley Trading)
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