Sunday, January 20, 2008

Economical and Banking analysis:

First to mention the impressive movement of the USD/EUR last week, noticed in New York in Thursday and Friday when the banks stated first a lowering of the EUR with respect to the USD first from 1.4822 to 1.4775 and then the second hit - from 1.4775 to 1.4629. First try for the American dollar to regain its positions but anyway there's a long way to go before reaching some levels it had in the past.
The second thing important from the last two weeks was the "reminder" statement of the HMRC in the United Kingdom for people with offshore bank accounts and earnings abroad to have in mind that have short time to declare their offshore earnings and balances in the bank accounts overseas. Of course, it was reminded also that the taxes paid in time will be smaller in comparison if you miss the deadline to declare your offshore banking.
Another big update for the UK. The worlds largest bank - Citibank releases a 10 billion GBP lifeline to the Northern Rock company dealing with mortgages. That favor from Citibank makes the company the most stable real estate loan giver in the UK
Apart from all that, the next movements in the currencies are all expected from the events in the USA.

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