Posts Tagged ‘EUR’
Currency Articles - February 14, 2011 18:09
This week will be crucial for the pound ahead of growing uncertainty over the outlook for the UK economy. Markets will watch closely the widely anticipated Quarterly inflation report due for release on Wednesday. Inflation news has been dominating price action in the past fortnight and is likely to continue to set the precedent moving [...]
The Pound has suffered today retracing off highs off 1.6160 vs the dollar and 1.1876 vs the Euro. Momentum has shifted towards the downside despite the British Retail Consortium reporting a jump in sales in the UK in January. The RICS house price balance also reported the strongest reading since July indicating a stabilisation in [...]
The Pound has made gains today across the majority of the most actively traded currencies. Gains can be attributed to improved sentiment driving the market. For the last couple of weeks the pound has suffered from negative sentiment caused by very poor Q4 GDP figures for 2010. The reversal has however been driven by last [...]
The pound has staged a remarkable recovery this week after very poor Q4 GDP figures released earlier this month. It would appear that traders over did the sterling sell off on fears of a UK double dip recession. This week we have seen a rapid expansion in the CIPS manufacturing index on Tuesday and today [...]
Markets have opened the week consolidating on last week’s fundamentals, trading within and not exceeding recent technical ranges.
The cost of insuring European sovereign debt against default has risen today to a record high as Portugal, Spain and Italy prepare to borrow $43 billion this year. The fallout of the concern caused by this is a marked decline in risk appetite and subsequent decline in global stock markets
The Euro has come under pressure in the last few days as fears mount over sovereign debt contagion. The Euro has fallen against most of the world’s most actively traded currencies with the key EUR/USD pair making new lows at 1.3170 and GBP/EUR testing the 1.19 mark towards the end of the UK session today.
The US Economic recovery seems to be gathering momentum moving into 2011 as service sector expansion reaches the fastest pace since May 2006.