The St. Kitts-Nevis Observer

The U.S. dollar slipped against the euro, as traders reacted to apparent global support for Greece, to be confirmed during an up-coming telephone conference between finance ministers from the Group of Seven.

EUR/USD was at $1.2790, up from $1.2606 in early Asian trading and from $1.2639 late Thursday.

The U.K. pound dropped as fears of a 'hung Parliament' were confirmed when no Pary won a clear majority in the just-concluded polls.

GBR/USD was at $1.4676 in very volatile trading, but was still higher than the $1.4473 seen just after the election results became public.

US Dollar vs Euro, Pound - Thursday, May 6, 2010

The U.S. dollar rose to a new 14-month high against the euro on concerns about a growing debt crisis in Europe. The single currency has been battered across the board this week on fears that Greece's debt problem could spread beyond its borders and potentially harm the global recovery.

Fierce rioting in Athens to protest government austerity plans has increased fears that Greece policymakers might not be successful in their attempt to consolidate Greece's hefty debt load.

EUR/USD slumped 0.78% to hit $1.2714.

The U.K pound is tumbling ahead of the elections, marking the fifth consecutive decline on worries that the elections will not have a parliamentary majority, therefore weakening the government's position to narrow budget deficit.

GBR/USD is trading at $1.5038.

US Dollar vs Euro, Pound - Wednesday, May 5, 2010

The U.S. dollar rose to a new one-year peak against the euro on growing worries about the continent's debt crisis. The euro's losses have accelerated this week on concerns Athens' debt troubles will not be confined to Greece. Already this week, the euro has shed about 3% against the safe-haven dollar, and is down more than 9% in 2010.

EUR/USD was at $1.2685 down nearly 1% from $1.3011 in late North American trade on Tuesday.

The British pound slipped to a five-week low against the dollar. Political uncertainty ahead of a national election on Thursday in the U.K. should keep the pound vulnerable in coming sessions.

GBP/USD was at $1.5122, down from $1.5176 on Tuesday.

US Dollar vs Euro, Pound - Tuesday, May 4, 2010

The euro slipped to match the one-year low against the U.S. dollar it hit last week, on concerns about Greek debt problems and fears of possible contagion to other vulnerable euro zone countries.

Over the weekend, European finance ministers agreed a 110 billion euro bailout package for Greece, but doubts remained about whether the country could make the steep budget cuts necessary, especially with unions planning more strikes.

EUR/USD was down 0.5 percent at $1.3126.

The U.K. pound fell against the dollar, hitting a 3-day low ahead of key data on the British manufacturing sector, and as the country's prime ministerial candidates ramped up their campaigns in the race to Downing Street.

GBP/USD hit 1.5181 during early European trade.

CMMB Market Watch week ended 30th. April, 2010

EASTERN CARIBBEAN
Minimal activity was recorded on the ECSE as trading occurred in only 3 equity securities, all of which recorded no price movements. No activity was recorded on the RGSM. The next auction of a 91-day Treasury bill issue by the Government of St. Vincent has been scheduled for May 14th 2010. Investors can participate in this issue by placing a minimum bid of EC$5000.

In other news, the Caribbean Information and Credit Rating Services Limited (CariCRIS) has lowered the regional scale ratings of the Eastern Caribbean Home Mortgage Bank Foreign Currency debt issue by one notch to CariAA-. This downgrade was driven by tightening liquidity conditions in the banking sector across the Eastern Caribbean Currency Union (ECCU) due to the current recession. A CariAA- rating indicates a very high level of credit worthiness relative to other debt issues in the Caribbean.

TRINIDAD
Over in Trinidad, all the three major indices posted gains for the week. Nineteen equity securities recorded trading activity, with an advance decline ratio of 6:1, while 12 traded firm. Approximately 2.6 million units crossed the floor of the exchange valued at almost TT$14.5 million. The sole decliner, Capital Credit Financial Group traded down 15 cents to close at 37 cents per share - recording a loss of 29%.

JAMAICA
The major indices on the JSE posted mixed results of over 22 million units valued at J$148 million changed ownership. Of the 35 stocks which traded, advancers' outnumbered decliners 17 to 15 while another 3 traded firm. Cable & Wireless Jamaica followed by Jamaica Broilers were the most popular traded companies as they accounted for over 60% of the week's market volume.

BARBADOS
Over 127000 shares changed ownership on the BSE as the local and composite indices recorded slight declines. Four stocks advanced, while 3 declined and 1 remained unchanged. Ansa McAl Barbados led the decliners trading down $1 to close at 15$ per share. First Caribbean International Bank emerged volume leader also advanced the most, trading up by almost 13% to close at $2.99

INTERNATIONAL
On the international front, US stocks posted their largest weekly loss since January after European credit downgrades spur concern that global economic growth will slow. S&P lowered its rating for Greece's debt to junk as investors may expect to recover approximately 30% of their initial investment if the country restructures its debt

US Dollar vs Euro, Pound - Friday, April 30, 2010

The U.S. dollar slipped against the euro on hopes that the joint European Union-International Monetary Fund aid plan for Greece will soon be activated. Prospects for an agreement helped boost investors' risk appetite, undercutting the dollar, which tends to rise on safe-haven flows during periods of risk aversion.

The euro was trading traded at $1.3329, up from $1.3238 in North American trade late Thursday.

The U.K. pound strengthened against the dollar after British opinion polls showed Conservative party leader David Cameron won the final debate before next week’s election, increasing prospects for a majority government.

The pound gained 0.3 percent to $1.5360 in morning London trading.

US Dollar vs Euro, Pound - Thursday, April 29, 2010

The U.S. dollar fell against the euro after the U.S. Federal Reserve left its benchmark interest rate in the zero to 0.25% range, and stated that it will remain low for an extended period.

The euro was at $1.3218, up from $1.3203 late Wednesday.

The U.K. pound climbed against the U.S. dollar after official data showed that the number of American workers filing new applications for unemployment insurance fell less than expected last week.

GBP/USD hit a daily high of $1.5281 following the release of the U.S. Labor Department report.

US Dollar vs Euro, Pound - Wednesday, April 28, 2010

The euro hit a one-year low against the U.S. dollar as on investor concern about the euro zone debt crisis possibly spreading, after Tuesday's downgrades of Greece and Portugal's credit ratings.

EUR/USD was at $1.3143, its weakest point since April 2009.

In early trading, the British pound plunged to near a 3-week low against the dollar as the noted downgrades of Greek and Portugal debt sent shock waves in the market.

GBP/USD was trading near a 3-week low of $1.5160, with $1.480 seen as the next downside target level.

US Dollar vs Euro, Pound - Tuesday, April 27, 2010

The euro dropped sharply versus the U.S. dollar, nearing a one-year low as the cost of insuring Greece's debt against default hit a record high with the current uncertainty over whether the country would secure an EU-IMF rescue package. The decline came after Germany's junior coalition party said Berlin was not certain to back a bailout of Greece.

EUR/USD dropped 0.68% to hit $1.3291, approaching the one-year low of $1.3201 of last Friday.

The U.K. pound rose against the dollar on hopes that the upcoming election would result in the formation of a government strong enough to tackle Britain's deficit.

GBP/USD hit $1.5482 in early trading, close to a 7-day high.

US Dollar vs Euro, Pound - Monday, April 26, 2010

The U.S. dollar gained versus the euro amid continuing uncertainties over Greece's long- term fiscal prospects and concerns that Germany may prove reluctant to ante up its share of expected euro-zone rescue funds in a timely manner.

The euro rebounded from an 11-month low near $1.32 versus the dollar and extended a gain in Asian trading, and is now at $1.3334, down from $1.3377 in North American trade late Friday.

The U.K. tested the highs of the month around $1.55 and subsequently was pushed lower.The currency held form on weekend polls that seem to hold out the possibility of a Tory plurality in the up-coming elections.