Posts Tagged ‘Euro’

Swedish Krona Gains on Greece’s Budget Deficit

Posted by yehya on January 16th, 2010


The Swedish krona ended this week gaining versus the European single currency as Greek’s budget deficit is once again affecting the outlook for the euro, which also declined versus most of the main traded currencies in

foreign-exchange markets.

The krona ended this week with a third consecutive day of gains versus the euro after Greece’s deteriorating economic health is raising concern towards traders regarding the Eurozone, after European Central Bank President Jean-Claude Trichet affirmed that member countries will not have any privileges.

EUR/SEK ended the week at 10.17 from 10.22 on Monday when markets opened.

If you want to comment on the Swedish krona’s recent action or have any questions regarding this currency, please, feel free to reply below.

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Preliminary assessment of the level of inflation in the euro area: -0.1% for October

Posted by maradona on October 30th, 2009
Data on annual inflation in the euro area (harmonized index of consumer prices), published today, the EU statistical agency Eurostat, consistent with analysts’ forecasts.
According to preliminary estimates, the annual consumer price index for the euro area amounted to -0,1% in October. Recall that in September the annual inflation rate was -0.3%.
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Pound extended gains against the euro, buoyed by positive economic data

Posted by Forex News Resource on October 30th, 2009

The pound continued to rally yesterday and is now poised to snap a three-month decline versus the euro, as the UK showed positive economic signals.

  • Data from the Bank of England revealed that UK net consumer lending rose less than expected in September but the number of loans approved for house purchases did hit its highest level in 18- months.

Click to continue reading “Pound extended gains against the euro, buoyed by positive economic data”

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Falling global equities enabled the pound to post gains against the euro

Posted by Forex News Resource on October 29th, 2009

The pound continued to advance against a broadly weaker single currency yesterday, hitting a six-week high of 1.1167 as investors trimmed their euro holdings.

  • Preliminary CPI data from Germany revealed that consumer prices remained flat on the year in October. Monthly data showed that the index did rise by 0.1% in October from September, though this rise failed to garner support for the euro.
  • The markets also saw a slight withdrawal of risk activity yesterday as weak housing data in the US renewed concern over the health of the global recovery.
  • The data dragged European equities down to three-week lows, which appeared to impact more severely on the single-currency, enabling the pound to gain.
  • This morning, the pound is consolidating its position above 1.1100, with analysts reiterating that sterling is likely to remain in a holding pattern until next week’s BoE asset purchase decision.
  • Investors are cautious amid uncertainty over whether the Central Bank will extend their quantitative easing programme, and so sterling movements may continue to be dictated by risk appetite in over the coming days.
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The pound rebounded strongly vs the euro yesterday with analysts suspecting that sterling could be oversold

Posted by Forex News Resource on October 27th, 2009

After an unsteady early session, the pound rebounded strongly from Friday’s sell off, to close 1.1% up.

  • The pound recovered steadily through the day after data revealed that the German Gfk consumer sentiment indicator dropped to 4.0 from 4.2 in October, weaker than the median forecast of 4.5, dulling demand for the single currency.
  • In addition UK business confidence rose to the highest in 18 months, according to a third-quarter survey, with 19% of executives polled saying the outlook for business is “good” or “very good,” up from 9% in the previous quarter, which stoked demand for the pound.
  • Analysts hypothesised that the pound may be considerably oversold at its current value, which does present a good opportunity for British businesses.
  • Analysts also noted two opposing arguments developing: the first is a widely held view that based on better PMI survey data there is a good chance that GDP data for Q3 will be revised up.

Click to continue reading “The pound rebounded strongly vs the euro yesterday with analysts suspecting that sterling could be oversold”

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Aussie made significant gains at the end of last week and is continuing to advance this morning

Posted by Forex News Resource on October 26th, 2009

In trading on Friday, the pound slipped back from two-week highs around the 1.8000 level against the aussie as a weak GDP figure dulled demand for the UK currency.

  • A report showed that the UK failed to exit the recession in the third quarter of this year, giving the central bank more reason to keep enacting emergency measures to spur growth.

Click to continue reading “Aussie made significant gains at the end of last week and is continuing to advance this morning”

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The single currency pared recent gains on Friday, but has recovered in trading this morning

Posted by Forex News Resource on October 26th, 2009

The single currency slipped back from multi-month highs against the dollar following positive US housing data, with the pair closing the week at 1.5006.

Click to continue reading “The single currency pared recent gains on Friday, but has recovered in trading this morning”

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UK economy contracted by 0.4%, which has and will continue to weigh heavily on sterling

Posted by Forex News Resource on October 26th, 2009

In an uncertain day for the UK economy, the pound lost as much as 2.0% to the euro on Friday, sharply reversing its recent rally to close down at 1.0862.

  • Data revealed that the UK economy unexpectedly contracted by 0.4% between July and September this year, confirming that the UK is still in recession.

Click to continue reading “UK economy contracted by 0.4%, which has and will continue to weigh heavily on sterling”

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The pound posted a one cent gain against the euro yesterday, buoyed by the MPC minutes

Posted by Forex News Resource on October 22nd, 2009

Sterling reached a one-month high against the single currency, rallying strongly as the BoE’s latest policy meeting made no mention of further QE.

  • The MPC minutes gave substantial support to the pound, which advanced 1.1% to reach a high of 1.1112, after they sounded a more positive tone than recent statements from policymakers suggested.

Click to continue reading “The pound posted a one cent gain against the euro yesterday, buoyed by the MPC minutes”

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Pound slid back against the euro yesterday, but has rebounded strongly in trading today

Posted by Forex News Resource on October 21st, 2009

Sterling dipped slightly against the single currency, relinquishing gains in the afternoon as US equities slipped back, closing the day down just 0.1% at 1.0958.

Click to continue reading “Pound slid back against the euro yesterday, but has rebounded strongly in trading today”

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Euro pushes higher but finds strong resistence at $1.50

Posted by Forex News Resource on October 20th, 2009

The single currency resumed its climb against the dollar in trading yesterday, supported by rising confidence in the global recovery, closing the day up 0.4%.

  • The euro hovered just below the psychologically important 1.50 level as the US dollar remained under selling pressure on expectations that US interest rates will remain pinned at record lows well into 2010.

Click to continue reading “Euro pushes higher but finds strong resistence at $1.50″

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Having held steady in trading yesterday, the pound has slipped back this morning as equity markets stumble

Posted by Forex News Resource on October 20th, 2009

Sterling suffered early losses against the euro yesterday after a BoE member hinted that the QE programme should be extended, but the pound recovered to close the day on level footing.

Click to continue reading “Having held steady in trading yesterday, the pound has slipped back this morning as equity markets stumble”

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Sterling continued to rally at the end of last week, but has relinquished gains in trading this morning

Posted by Forex News Resource on October 19th, 2009

Sterling’s rally against the euro persisted on Friday, albeit with slightly less momentum, with the price closing the week at 1.0971, up 0.8% on the day.

  • Sterling’s volatile run continued with a modest climb at the end of last week, as investors squeezed what more they could out of a rally that is expected to fade.

Click to continue reading “Sterling continued to rally at the end of last week, but has relinquished gains in trading this morning”

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Sterling has rallied strongly against the euro, pushing up over 1.09

Posted by Forex News Resource on October 16th, 2009

Sterling strengthened as much as 2.2% to a ten-day high of 1.0936 against the euro yesterday, its biggest intra-day gain since Jan 30th.

  • Sterling was able to post strong gains following bullish comments from a Bank of England policymaker who stated that quantitative easing is in fact working.

Click to continue reading “Sterling has rallied strongly against the euro, pushing up over 1.09″

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Consumer prices in the euro area remained unchanged in September

Posted by maradona on October 15th, 2009
According to Eurostat, consumer prices in the euro area remained unchanged in September compared with the previous month, but fell in the annual rate of 0,3%.
Consumer prices in the euro area continued to decline in annual terms for the fourth consecutive month, thanks to falling prices for transportation, real estate and food products.
Rate of inflation excluding the prices of food and energy prices fell in September to 0.2%. As a result, yoy index fell 1.2%.
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