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.

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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.

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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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