Archive for December, 2008
The Euro Gains Ground as Dire U.S. Economic Data Undermines the Dollar
Posted on31. Dec, 2008 by admin.
The Euro-Zone currency is extending a broad rally against most major currencies after hitting a fresh record high against the British Pound on Tuesday. Against the Dollar, the EUR was 1% higher at 1.4125, and against the Sterling the EUR traded as high as 98.05 pence. The EUR has been gaining at the Dollar’s expense [...]
Continue Reading
New Year Rate Cuts Drop GBP
Posted on30. Dec, 2008 by admin.
The GBP continues to head lower against the EUR as Britain may have a further Interest Rate cut priced into the EUR/GBP. There is a lot of negative news currently circling the GBP/USD, and the comments by European Central Bank (ECB) President Trichet that the ECB may hold Interest Rates steady in the near future [...]
Continue Reading
Euro Decimates Competition Prior to 10-Year Anniversary
Posted on29. Dec, 2008 by admin.
So far, the EUR has remained the currency-of-choice among many investors throughout this holiday season. In fact, it has almost obtained parity with the Pound Sterling and is steadily climbing against the USD, reaching almost as high as 1.4200. This upswing, if it continues, may indicate a trend that could climb as high as 1.4700 [...]
Continue Reading
Euro Continues to Rise against the Dollar
Posted on23. Dec, 2008 by admin.
As the year end approaches, the repatriation of capital has been occurring in the European market. The deleveraging by U.S. investors in September and October heavily influenced short-term price movements in the commodity and currency markets. There is a strong possibility that the repatriation of the EUR has been undertaken by large European investors as [...]
Continue Reading
Euro-Zone not Stronger than U.S. after all; EUR Depreciates
Posted on22. Dec, 2008 by admin.
Last week’s EUR feeding frenzy may have been short-lived. With so much negative news building up in the American economy, the EUR appeared to be the safe bet. Investors bailed out of the Dollar en masse and jumped into the Euro-Zone currency as the safe haven of choice after the U.S. Federal Reserve’s decision to [...]
Continue Reading
Euro Slides against Dollar and Spikes versus the Gbp
Posted on19. Dec, 2008 by admin.
After continuing a bullish course during most of the week against the USD, the EUR retreated yesterday. Analysts believe that this is due to financial pressure that the Euro-Zone will have to follow the Fed and cut Interest Rates further. EUR/JPY level continued to trade flat, with little fluctuation over the $127.00 level. The EUR [...]
Continue Reading
Euro Benefits from U.S. Rate Cut
Posted on18. Dec, 2008 by admin.
The EUR has been the primary benefactor from the cut in U.S. Interest Rates as the EUR’s bullish run continues into its 9th day. Other factors driving the EUR higher in recent days have been an increase of negative economic data flowing from the U.S. economy. A string of poor unemployment numbers, combined with the [...]
Continue Reading
Euro Rises on Weaker Greenback
Posted on16. Dec, 2008 by admin.
The European currency has climbed to a new two-month high as investors continued to exit long Dollar positions amid uncertainty over the fate of U.S. automakers. The EUR surged above $1.37 as markets awaited the outcome of a Fed policy meeting today, when it is widely expected to cut its Interest Rate by at least [...]
Continue Reading
Euro Rallies 5% against the Dollar
Posted on15. Dec, 2008 by admin.
The EUR posted perhaps its strongest week in its short history against the Dollar as it took advantage of U.S. bearishness and also was driven by its own economic data releases. The EUR was bullish against all of its currency counterparts. Most notable was the rebound of the EUR/USD cross that traded above the 1.34 [...]
Continue Reading
Euro Rises on ECB’s Hawkish Words
Posted on12. Dec, 2008 by admin.
The Euro-Zone currency rallied against its major counterparts as risk appetite and the demand for yield increased. The grim economic news from the U.S. economy, such as the Senates’ rejection of the U.S. Auto bailout plan helped pushed the EUR forward to reach a 7 week high against the USD. The Euro rose 2.3% to [...]
