Breaking News Federal Reserve Vice-Chair Yellen, said today the Federal Reserve has room to provide further accommodation and highlighted that there are substantial risks to the U.S. economic outlook.
Based on our regular economic and monetary analyses, we decided to keep the key ECB interest rates unchanged. While inflation rates are likely to stay above 2% for the remainder of 2012, over the policy-relevant horizon we expect price developments to remain in line with price stability. Consistent with this picture, the underlying pace of monetary expansion remains subdued. Inflation expectations for the euro area economy continue to be firmly anchored in line with our aim of maintaining inflation rates below, but close to, 2% over the medium term
Breaking News Out of the ECB
Global Dairy Products Report
Breaking News Out of Italy
140,000 United States producers and will visit 42,000 tracts of farm land to collect information. One of USDA’s largest survey efforts, the responses will provide the foundation for estimates in the upcoming growing year. With both data collection and data release taking place over a span of only four weeks, the results will be available beginning on June 29 in the Acreage and other reports. Farmers should watch for their survey and be sure to respond. Your information matters!
U.S. markets dropped more than 1% today as the euro fell off a cliff hitting a 2 year low until the afternoon when the euro regained its footing sending the U.S. dollar lower and equities higher.
The market saw up and down swings. Financials lead the way in early trade through the afternoon. Market took a turn when news reports quoted former Greece Prime Minister Lucas Papademos as saying that preparations for the country’s exit from the euro zone are being considered, sending the euro and markets lower.
Traders find themselves back in a risk on scenario across the board after the G8 statement indicated the euro zone policy makers would like to keep Greece in the family.
U.S. futures take it on the chin after the U.S. weekly jobs report
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