Archive for February, 2009
Pound Tumbles Due to Aftershock of U.S. Treasury Speech
Posted on11. Feb, 2009 by admin.
The Pound slid against it major currency pairs as it felt the shockwaves of the Pessimism in the U.S. following the disappointing speech about a banking bailout by U.S. Treasury Secretary Timothy Geithner. The British economy and British currency are extremely volatile due to negative news from the U.S. and Europe, as their economy has [...]
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EUR Plunges on Russian Loan Restructuring
Posted on10. Feb, 2009 by admin.
The EUR fell sharply in late day trading after it was reported that Russian banks may seek to restructure over $400 billion loans from foreign banks. The 16-nation currency also came under pressure after European finance ministers suggested it may be more difficult for European banks to borrow in the financial markets.
These two events drove [...]
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Despite Recent Strength in the EUR, Something is Still Missing
Posted on09. Feb, 2009 by admin.
The EUR appears to be the recipient of much support lately as the other safe-haven currencies have taken a dive on recent economic data. The U.S. jobs market took such a beating last month that the Dollar appears to be feeling the effects and has now raised this pair back up towards the 1.3000 price [...]
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EUR Falls Broadly on Russian Downgrade
Posted on05. Feb, 2009 by admin.
The EUR is trading near a two-month low against the Dollar on speculation the economic slump in Eastern Europe will cause the Euro-Zone’s recession to deepen, and markets are worried that Eastern Europe’s situation will get worse before it gets better. The EUR was traded at 1.2852, up from 1.2849 late yesterday. It reached 1.2706 [...]
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Euro Records Mixed Results Ahead of Thursday Rate Decision
Posted on04. Feb, 2009 by admin.
The EUR was affected by 2 main things in yesterday’s trading. These are the global stock market rally and mixed feelings ahead of Thursday’s Interest Rate decision by the European Central Bank (ECB). The U.S. stock market rally led investors to buy-back into the EUR, and dropping the Dollar, as investors looked for returns on [...]
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Euro Experiences Bad Week; Could this Week be Worse?
Posted on02. Feb, 2009 by admin.
The EUR witnessed a significant drop at the end of last week versus the USD, Pound Sterling, and Yen, as investors lost more confidence in the 16-nation currency. As the economic downturn worsens, traders and investors alike are searching for a proper safe-haven to store their money. Dropping below 1.2900 against the USD and falling [...]
