Archive for January, 2009
EUR Falls on Weak Economic Data
Posted on30. Jan, 2009 by admin.
The European currency retreated from gains made earlier in the week against its major counterparts. Against the USD it was down about 2% at $1.2889, after hitting a session low of $1.2875, and versus the Japanese currency, the EUR was down over 2% at 115.18 Yen. The EUR currency slipped on comments by European Central [...]
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Interest Rate Speculation Provides a Temporary Boost to the EUR
Posted on29. Jan, 2009 by admin.
The EUR experienced high volatility in the wake of a speech by European Central Bank (ECB) President Jean-Claude Trichet. During a speech at the World Economic Forum (WEF) in Davos Switzerland, Trichet hinted that the ECB may hold interest rates steady for their upcoming policy meeting scheduled for Feb 5th.
The ECB has repeatedly reduced European [...]
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EUR and GBP Climb on Banking Rebound
Posted on27. Jan, 2009 by admin.
The EUR gained on news from Britain that Barclays, Britain’s fourth largest Bank, is scheduled to post better than expected profits. The importance of this is due to the fact that British and European banking stocks dropped dramatically last week; led by negative banking data coming out of Britain. This resulted in these 2 currencies [...]
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Rating Downgrade hurts the Euro
Posted on23. Jan, 2009 by admin.
The struggles that the Euro-Zone economy is currently facing continue to put pressure on the EUR. Disappointing economic indicators have helped to bid down the EUR against the USD as investors view the EUR as a riskier currency. Therefore, from the point of view of traders, the Euro is starting to lose status as a [...]
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The Euro-Zone Currency Falls versus the Greenback on Economic Concerns
Posted on22. Jan, 2009 by admin.
The EUR is expected to come under further pressure against the USD, and other major currencies, as the Euro-Zone is likely to face significant economic stress, according to economists. In today’s trading, the currency rose as little as 0.5% to $1.2973, after touching a low of $1.2826, its lowest since December 9.
The EUR may fall [...]
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Gloomy Economic Forecast Drops Euro
Posted on20. Jan, 2009 by admin.
The EUR declined over 300 pips against the Dollar, but increased over 130 pips against the GBP. The EUR also declined a massive 350 pips vs. the JPY, to close at 117.79. The EUR’s slump yesterday came about as investors took advantage of the low-volume due to the bank holiday in the United States. Adding [...]
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Last Week’s Rate Cut Appears to Have Calmed the Euro
Posted on19. Jan, 2009 by admin.
Most currency advisors would have informed their clientele to sell the EUR last week as the European Central Bank (ECB) reduced its short term interest rates to 2.0%. This revaluation of the 16-nation currency was expected to drive its value to weekly lows, yet the results were almost stunning. The EUR made small rebounds across [...]
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Interest Rate Cut Expected Today
Posted on15. Jan, 2009 by admin.
The Euro-Zone currency may decline further against the US Dollar on speculation that the European Central Bank (ECB) will lower its main refinancing rate by a half-percentage point to 2.0%. The EUR continues to deteriorate after falling to 1.3100 levels during yesterday’s trading session. The ECB will announce its decision on its short-term interest rates [...]
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EUR Stops its Slide against the GBP
Posted on13. Jan, 2009 by admin.
The EUR continues to lose ground against the Dollar as added market risk weighs on the European currency. However, the currency did break a 4-day losing streak against the GBP to close the day up at 0.9020.
The EUR/GBP, which last year saw an appreciation in excess of 26%, has given back some of those gains [...]
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German and French Production Data Create Downward Pressure on EUR
Posted on12. Jan, 2009 by admin.
The EUR appears to be in a depreciation cycle as it lost value to most of its currency counterparts last week, and has continued to do so throughout today’s early trading hours. Dropping to as low as 1.3400 against the USD, and falling further away from parity with the British Pound, the EUR is experiencing [...]
