{"id":6957,"date":"2012-01-11T20:34:52","date_gmt":"2012-01-11T18:34:52","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/emerging-markets-euro-zone-fears-return-lira-up\/"},"modified":"2012-01-11T20:34:52","modified_gmt":"2012-01-11T18:34:52","slug":"emerging-markets-euro-zone-fears-return-lira-up","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-euro-zone-fears-return-lira-up\/","title":{"rendered":"EMERGING MARKETS-Euro zone fears return; lira up"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* German GDP numbers erode recent emerging market gains<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Turkish lira up on current account deficit data<\/p>\n<p><span><\/span><\/p>\n<p>* Hungarian forint recovery peters out; Egyptian pound at<br \/>\nrecord low<\/p>\n<p><span><\/span><\/p>\n<p>By Sebastian Tong<\/p>\n<p><span><\/span><\/p>\n<p>LONDON, Jan 11 (Reuters) &#8211; Emerging markets were flat<br \/>\non Wednesday as concerns about the euro zone returned to the<br \/>\nfore while the Turkish lira rose to its strongest level since<br \/>\nthe start of the year, emboldened by a smaller-than-forecast<br \/>\nNovember current account deficit.<\/p>\n<p><span><\/span><\/p>\n<p>Hungary&#8217;s forint eased against the euro after recovering<br \/>\nnearly 4 percent from Thursday&#8217;s record low even as its<br \/>\ngovernment struck a more conciliatory note in talks with<br \/>\ninternational lenders while the Egyptian pound sank to new lows<br \/>\ndespite the expected start of talks with the International<br \/>\nMonetary Fund this week.<\/p>\n<p><span><\/span><\/p>\n<p>Data showing Germany gross domestic product shrinking<br \/>\nquarter-on-quarter in last three months of 2011 refocused<br \/>\ninvestor attention on the depth of the challenges faced by the<br \/>\neuro zone, eroding some of the recent market gains prompted by<br \/>\nsigns of economic revival in the U.S.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We are still in fairly illiquid markets and a lot of<br \/>\ninvestors are being quite tentative at this point. Europe is<br \/>\nstill the epicentre of the market&#8217;s concerns,&#8221; said UBS<br \/>\nstrategist Manik Narain.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The market is concerned ahead of the bond redemption that<br \/>\nthe Greek government will face in March. There is risk of a<br \/>\ncoercive debt restructuring. It&#8217;s a sword of Damocles hanging<br \/>\nover Europe and people are being quite cautious,&#8221; he said.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* German GDP numbers erode recent emerging market gains * Turkish lira up on current account deficit data * Hungarian forint recovery peters out; Egyptian pound at record low By Sebastian Tong LONDON, Jan 11 (Reuters) &#8211; Emerging markets were flat on Wednesday as concerns about the euro zone returned to the fore while the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-6957","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=6957"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6957\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}