Posts Tagged ‘Euro’

Rupee- appreciated by 32 paise against dollar

Posted by Tushar Mathur on October 29th, 2011

Rupee has got further appreciation for 32 paise against dollar as it has settled at the final value as Rs. 49.50 to 49.51. Dollar has set up a strong selling rate by exporters and a sustain rise in the local ranges of equities. Nevertheless of the dollar selling rate their weakness overseas and their capital flaws and downs has boosted the rupee to be higher by the outlook.

Domestic unit rupee value closed at 49.82 previous day and on today the interbank forex market revealed that the close has been higher to about 49.67 however they were about to reach a low of 49.80 in the early morning trade and by some weakness in the stocks the rise in the interest rates was finally announced by the central bank.

Click to continue reading “Rupee- appreciated by 32 paise against dollar”

Posted in Currencies Comments Off

Swedish Krona Gains on Greece’s Budget Deficit

Posted by admin 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.

Click to continue reading “Swedish Krona Gains on Greece’s Budget Deficit”

Posted in News Comments Off

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

Posted by admin 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%.

Posted in News Comments Off

Pound extended gains against the euro, buoyed by positive economic data

Posted by admin 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. Mortgage approvals rose to 56,215 from a revised 52,970 in August, which is the highest level of approvals since February last year and marks a solid recovery from September 2008 when only 33,419 mortgages were approved.

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

Posted in Other Forex Comments Off

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

Posted by admin 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.

Posted in Other Forex Comments Off

The pound rebounded strongly vs the euro yesterday with analysts suspecting that sterling could be oversold

Posted by admin 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”

Posted in Other Forex Comments Off

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

Posted by admin 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. The data showed that the UK contracted by a further 0.4%, disappointing expectations of a 0.2% expansion and firmly halting the pound’s progress. Where as in Australia interest rates have already been raised on the back of growing confidence in the economy, the UK may now be considering further loosening its monetary policies as recovery struggles to take hold.

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

Posted in Other Forex Comments Off

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

Posted by admin 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. The US dollar found support after a report showed that US existing-home sales improved more than expected last month. Resales of US houses jumped 9.4% in September to a seasonally adjusted annual rate of 5.57 million, the highest rate in more than two years, which stemmed the recent broad dollar sell off. Analysts stated that the recent bout of euro strength could now be looking over-stretched, given huge accumulation of short positions on the dollar.

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

Posted in Other Forex Comments Off

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

Posted by admin 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. Quarterly growth of 0.2% had been expected, although expectations had been tempered by recent figures showing no growth in retail sales in September and a 2.5% decline in industrial output in August. Importantly, the disappointing GDP figures may now lead the Bank of England to consider the possibility of extending their asset purchase scheme in their November meeting in order to sustain the evidently fragile recovery.

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

Posted in Other Forex Comments Off

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

Posted by admin 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. It was revealed that the nine member committee had voted unanimously to leave the size of its asset purchase scheme unchanged at £175 billion, as had been widely expected, and made no direct reference to extending QE in the future.

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

Posted in Other Forex Comments Off

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

Posted by admin 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. In early trading, investors picked up on comments from the ECB President who added to remarks from other eurozone officials expressing worries about the strength of the single currency. In response the markets took the euro slightly lower, enabling the pound to reach up over 1.10, near Monday’s 3-week high. In addition, the pound gained slight support after the UK public spending deficit in September fell short of market expectations, buoying investor sentiment.

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

Posted in Other Forex Comments Off

Euro pushes higher but finds strong resistence at $1.50

Posted by admin 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. The single currency also found support as some investors speculated finance ministers from the 16-nation region meeting in Luxembourg would focus on the currency’s strength. The dollar came under further pressure as the continued confidence over the prospects of a global economic recovery were reaffirmed as the Dow Jones opened up over 10,000, keeping haven demand for the dollar in check. Late in the afternoon, the Fed added to the greenback’s woes after stating that it has been testing its reverse repurchase agreement tool but is not about to use it, suggesting that US monetary policy is not set to tighten just yet.

Posted in Other Forex Comments Off

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

Posted by admin 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. Adam Posen stated that the central bank should continue its quantitative easing programme as the financial system has yet to show signs of a sustained recovery. He added that he was unconcerned about the possibility of further monetary stimulus risking a rise in inflation. His comments appeared to eclipse positive house price data from property website Rightmove, which showed that asking prices for homes in England and Wales were up on an annual basis for the first time in more than a year in October.

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

Posted in Other Forex Comments Off

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

Posted by admin 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. Comments from BoE member Paul Fisher breathed some life into the pound, which has come under heavy pressure in recent weeks, when he stated that the quantitative easing programme is having its desired effect. His remarks built on those of Charles Bean earlier in the week and were seen as a departure from the Bank’s hitherto-drab assessments of the UK recovery and relaxed opinion of sterling’s decline.

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

Posted in Other Forex Comments Off

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

Posted by admin 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. MPC member Paul Fisher told the Financial Times he felt confident that the bank’s asset purchase programme was ‘having the scale and speed of impact that we would have hoped for when we started,’ back in March. Analysts said that the comments were perceived as lessening the chances that the central bank would expand its loose monetary policy at their next meeting in November, which to some extent, had already been priced into the market.

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

Posted in Other Forex Comments Off
« Older Entries

Sponsors:
Certificate of Deposit



RSS FeedSubscribe to our RSS feed!