Posts Tagged ‘Quantitative Easing’

Broadly stable against euro and dollar: Swiss franc

Posted by Tushar Mathur on August 29th, 2011

On Friday investors of Swiss franc were much awaiting on the key note that was given by US Federal Reserve and the chairman was Mr. Ben Bernanke on the third round of quantitative easing. However the stability of the Swiss franc against euro and dollar was declared on Thursday themselves.

At New York close the Swiss franc value against euro was 0.1% lower than the normal. The Swiss franc was traded for about 1.1482 per euro on Thursday at 06:52 in the Greenwich Mean Time (GMT). Tight ranges at the local demand at the market have however reflected in trading forex market range, traders said.

Click to continue reading “Broadly stable against euro and dollar: Swiss franc”

Posted in Currencies Comments Off

Pound May Climb On Asset Purchase Program Ending

Posted by admin on January 18th, 2010

The U.K. currency may be experience a shift on its sentiment as speculations suggest that the current quantitative easing measures used by the nation’s central bank will be terminated, as the country starts to publish positive economic reports, suggesting that the recession may be ending in the British Isles. This week will be decisive for the pound as inflation yearly numbers are due to be published the next Tuesday, and if forecasts will be confirmed, the numbers are expected to surpass Bank of England’s target below 2 percent for the first time in seven months, fueling even further speculations that quantitative easing measures will be lifted in the U.K.

Click to continue reading “Pound May Climb On Asset Purchase Program Ending”

Posted in News Comments Off

Pound edged up slightly against the euro on Friday but is down around 0.7% in trading this morning

Posted by admin on November 2nd, 2009

The pound edged higher, achieving its biggest weekly advance against the euro since January, as signs pointed to the UK economic recovery talking hold. The pound/euro pairing was little changed at the end of last week, though sterling did creep up, supported by reports showing gains in consumer confidence and UK house prices. Month-on-month property prices were up for the sixth consecutive month in October and were 2% higher than in the same month the previous year. However, the pace of monthly price rises has eased, going up by just 0.4%.

Click to continue reading “Pound edged up slightly against the euro on Friday but is down around 0.7% in trading this morning”

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

BNY Mellon: the British pound could stabilize near current levels

Posted by admin on October 26th, 2009

Recently, analysts Bank of New York Mellon quite confidently declared that the bearish mood of the British pound. But now the bank waiting for stabilization of the currency of Great Britain near current levels. According to the Bank’s strategy to further weakening of the pound – this is the last thing the British government wishes. In addition, published on Friday, weak GDP data may be incorrect and, therefore, further expansion of the program of quantitative easing of the Bank of England does not look quite definitely. Nevertheless, bank analysts pay attention to rumors about the revision of the credit rating of the UK, in connection with which there may well be grounds for returning to the bear’s prognosis.

Click to continue reading “BNY Mellon: the British pound could stabilize near current levels”

Posted in News Comments Off

Sterling fell back significantly against the dollar on Friday, as GDP figure disappoints the market

Posted by admin on October 26th, 2009

Sterling lost three cents (1.9%) to the dollar, as a weak UK quarterly GDP figure abruptly halted the pound’s recent rally. The greenback gained the most daily value against the pound in a month as the UK’s economy unexpectedly contracted in the third quarter, giving the Bank of England more reason to expand emergency measures to spur growth. It is the first time UK gross domestic product has contracted for six consecutive quarters, since quarterly figures were first recorded in 1955. The pound fell more than a cent against the US dollar following the release of the figures, losing 0.6% in two minutes, with traders particularly concerned that the UK may turn out to be the only major economy still in recession.

Click to continue reading “Sterling fell back significantly against the dollar on Friday, as GDP figure disappoints the market”

Posted in Other Forex Comments Off

Sterling made substantial ground on the dollar yesterday as the BoE showed no sign of loosening montary policy further

Posted by admin on October 22nd, 2009

Dollar selling in the market was stepped up with investors moving into the pound as the MPC minutes proved more positive than expected. The pound climbed over 1.66, posting a two and half cent gain against the dollar as the minutes from the Bank of England’s October monetary policy meeting struck a less dovish tone than recent comments suggested. Analysts said the most important story within the release was the fact that in the September meeting, governor Mervyn King thought an expansion of the central bank’s quantitative easing programme could be justified. But there was no mention of that in this latest meeting.

Click to continue reading “Sterling made substantial ground on the dollar yesterday as the BoE showed no sign of loosening montary policy further”

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

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 traded strongly at the end of last week against the kiwi but has slipped back sharply this morning

Posted by admin on October 19th, 2009

Sterling managed to close last week at a near two-week high of 2.2056 against kiwi, as the UK currency continued to build on support from a BoE official. The ailing pound managed to build on Thursday’s gains, rallying a further 1.2% against the kiwi on Friday, in the wake of a Bank of England policy maker signaling satisfaction with the impact of the central bank’s quantitative-easing strategy. Investors took the opportunity to take strong profits that had been built up earlier last week, taking the sterling / kiwi price back over 2.20.

Click to continue reading “Sterling traded strongly at the end of last week against the kiwi but has slipped back sharply this morning”

Posted in Other Forex Comments Off

Profit taking ahead of the weekend allowed the pound to make further ground against the aussie on Friday

Posted by admin on October 19th, 2009

Sterling maintained its rally as investors continued to lock in profits ahead of the weekend, with the price closing the day at 1.7839. Having climbed to multi-year highs against the pound earlier last week, positive comments from members of the BoE concerning the quantitative easing programme triggered an opportunity amongst investors to take profit, driving the price higher. Comments on Friday were made that stated the asset purchase scheme is having its desired effect on the UK economy, dulling concerns about the possibility of a further expansion. There was also a slight pull back in demand for the higher-yielding aussie following a weak earnings report from the Bank of America, which gave investors further cause to cash profits.

Click to continue reading “Profit taking ahead of the weekend allowed the pound to make further ground against the aussie on Friday”

Posted in Other Forex Comments Off

The pound made further ground against the US dollar on Friday, buoyed by positive market sentiment

Posted by admin on October 19th, 2009

Sterling extended sharp gains against the dollar, as traders cut short pound positions after many reckoned earlier bets against the currency were overdone. Sterling found support following further upbeat comments from a BoE member concerning the quantitative easing programme. Sterling reached up to a three-week high against the dollar, peaking just below 1.64 before closing the week at $1.6353. Initially sterling trimmed its position after sterling/dollar stop-loss orders were triggered at $1.6300, but some analysts noted that the pound would continue to be supported as investors had taken up fresh long positions in sterling and were willing to hold onto them.

Click to continue reading “The pound made further ground against the US dollar on Friday, buoyed by positive market sentiment”

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

Pound is rallying against the kiwi dollar as investors book profits ahead of the weekend

Posted by admin on October 16th, 2009

The pound achieved a ten-day high against the kiwi yesterday, as bullish comments combined with profit taking to bring the UK currency off multi-month lows. The UK currency was buoyed by comments that quantitative easing is in fact having its desired effect and that the MPC may not need to extend QE in their next meeting as many has speculated they would. The news triggered a wave of profit taking, pushing the sterling/kiwi price up two and half cents on the day to close at 2.1849. There was positive news from the US yesterday in the form of corporate earnings, in particular, Goldman Sachs and Citigroup, but the rise in risk appetite failed to assist the higher-yielding currency as investors chose instead to lock in profits. The pound has extended its climb in trading this morning, currently edging back over 2.19 as investors continue to profits ahead of the weekend.

Posted in Other Forex Comments Off

Sterling is currently trading higher against the aussie following upbeat comments and a move to cash profits

Posted by admin on October 16th, 2009

Sterling recovered some of its recent extensive losses against the aussie dollar yesterday, climbing over two cents, to close up at 1.7668. Bank of England member, Paul Fisher, said yesterday that policy makers would be more likely to pause asset purchases in their upcoming meeting in November, giving themselves the option of “doing more later,” rather than stopping them. His comments were taken to read that the MPC is unlikely to extend their quantitative easing programme, supporting a slight rise in confidence in the UK economy, strengthening the pound. In broad terms, the aussie traded strongly against most currencies yesterday as positive economic data in the US led to investors adding to their long positions in the higher-yielding currency.

Click to continue reading “Sterling is currently trading higher against the aussie following upbeat comments and a move to cash profits”

Posted in Other Forex Comments Off
« Older Entries

Sponsors:




RSS FeedSubscribe to our RSS feed!