DailyMarkets.com - Nigeria Keeps Rate Steady, Raises Cash Requirement

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• Nigeria Keeps Rate Steady, Raises Cash Requirement
• Slow Grind For Gold
• Moody’s And Spain Lead An Early Stock Slide
• Oil Rebounds To Below $89 On China
• Euro Slide Continues On Weak Data, Moody’s

Nigeria Keeps Rate Steady, Raises Cash Requirement Posted: 24 Jul 2012 10:53 AM PDT     Nigeria’s central bank kept its benchmark Monetary Policy Rate (MPR) steady at 12 percent, as expected, but raised the Cash Reserve Requirement (CRR) by 300 basis points to 12 percent from 8.0 percent  in an attempt to reduce liquidity in the banking system.     In its statement, the central bank said significant cash on the books of banks had not lead to increased lending to the private sector but instead banks had taken advantage of the high yields on Nigerian … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Slow Grind For Gold Posted: 24 Jul 2012 10:23 AM PDT Tuesday, July 24, 2012 Gold futures have been playing tug-o-war, unable to find a market direction. The result has been the Gold market missing the boat on the current commodity rally. There has been sufficient long-term safe haven buying to stave-off demand from bears concerned over economic growth to result in a stalemate. Technically, it seems as though the market is coming close to breaking out of a wedge formation, which could offer traders some clarity as to the intermediate direction of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Moody’s And Spain Lead An Early Stock Slide Posted: 24 Jul 2012 03:19 AM PDT 07/24/12 European and US stocks wee in the red to start the session as Spanish yields hit another record high while Moody’s lowered its rating on three of Europe’s strongest AAA … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil Rebounds To Below $89 On China Posted: 24 Jul 2012 03:07 AM PDT 07/24/12 A rise in Chinese PMI to a 5-month high helped push front month crude prices slightly higher Tuesday morning to trade just below $89 a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Slide Continues On Weak Data, Moody’s Posted: 24 Jul 2012 08:06 AM PDT 07/24/12 The euro currency continued its down trend Tuesday morning following weak European economic data and a downgrade to three of Europe’s strongest AAA … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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