Archive for February, 2009
GBP Drops on Signs the British Recession is Deepening
Posted on26. Feb, 2009 by admin.
The Euro-Zone currency fell more than 1% against the Dollar on Tuesday after European Central Bank (ECB) President Jean-Claude Trichet stated that the financial system was under severe strain, hampering an economic recovery. The economies which make up the Euro-Zone contracted by the most in at least 13 years, pushing the region into a deeper [...]
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EUR Strengthening from Global Economic Weakness
Posted on25. Feb, 2009 by admin.
The EUR experienced a bullish trading session yesterday, as it appreciated against most of its major currency pairs. The EUR gained about 150 points versus the USD during yesterday’s trading session, and closed at 1.2866.
German business confidence slipped in February, with a grim economic situation weighing on sentiment even as a government stimulus plan helped [...]
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European Currency Declines on Deepening Recession
Posted on24. Feb, 2009 by admin.
The EUR declined as fears about an accelerating recession in the Euro-Zone took its toll in Monday’s trading. The EUR recorded losses against most of its currency pairs, which was also compounded by Wall Street’s record drop yesterday. The European currency’s trading in recent weeks has been increasingly volatile, as the economic situation continues to [...]
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EUR/USD Aims to Breach a Significant Resistance Price Level
Posted on23. Feb, 2009 by admin.
The European currency underwent a jumpy weekly session. With the beginning of the trading week, the EUR strengthened against all the major currencies, however a batch of unfortunate publications has eliminated most of it. During last night, the EUR appreciated sharply against the Dollar and the EUR/USD is currently testing the 1.30 level.
Last week took [...]
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EUR Recovers from 3-Month Low against Dollar, then Reverses
Posted on20. Feb, 2009 by admin.
The European currency made bullish gains against its major currency pairs in yesterdays trading. The most notable event in EUR trading was the European currency’s recovery against the USD as it hit a 3-month low in Wednesday’s trading. The EUR’s strength in early Thursday’s trading was owed to a number of factors, including German Finance [...]
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Euro Suffers from European Banking Woes
Posted on19. Feb, 2009 by admin.
The EUR saw very little change in its overall value against the other currencies yesterday. While continuing with its recent downward trend, it has managed to remain rather calm in light of recent news from the Euro-Zone market. The EUR fell against the USD for a fourth day as the pair closed at 1.2500 levels. [...]
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Euro Falls on Eastern Europe Concern
Posted on18. Feb, 2009 by admin.
The Euro-Zone currency was traded near a 10-week low against the Dollar after a credit agency said it may cut the ratings of several banks with units in Eastern Europe, adding to concern that financial turmoil will deepen. The agency stated that the combination of higher provisions for bad debt, the rise in bank borrowing [...]
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New Interest Rate Cuts are Priced in to the EUR
Posted on17. Feb, 2009 by admin.
During Japanese trading hours, the EUR/USD made a significant downward move on a poor financial outlook in Europe and the potential for new Interest Rate cuts in the Euro-Zone. The start of the depreciation was due to concerns that Ireland may potentially default on its sovereign debt. However, much of this downward momentum can be [...]
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European GDP Weaker; ECB Remains Conservative on Interest Rates
Posted on16. Feb, 2009 by admin.
As Europe’s GDP slumps even further, the Euro-Zone currency begins to slide lower against most of the other major currencies. After dropping as low as 1.2720 against the USD late last week, the EUR later rebounded towards levels of 1.2870 by end of trading Friday. However, upon market opening this week, the EUR dropped against [...]
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German Data Indicates a Weakened Euro-Zone
Posted on12. Feb, 2009 by admin.
The EUR finished yesterday’s trading session with mixed results versus the major currencies. The 15-nation currency saw gains versus the GBP for most of the day and closed at the 0.8900. Versus the JPY, the Euro-Zone currency was broadly unchanged throughout most of the day, as most of the market movement from yesterday was focused [...]
