Posts Tagged ‘Recession’

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.

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Bank of Canada left interest rates at the same level

Posted by maradona on October 21st, 2009
Bank of Canada today adopted a decision to leave the refinancing rate unchanged at 0.25%.
The latest indicators show the beginning of the withdrawal of the world economy from deep recession. State of the world economy and the general trends in the financial markets have been somewhat more favorable projections, which were listed in the July report on monetary policy the Bank of Canada.
Given the current interest rate factors in Canada can not remain at current levels until the end of the second quarter of 2010 for the achievement of targeted inflation .
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End of the line for the old monetary regime

Posted by maradona on October 16th, 2009
What does the financial crisis in the context of monetary policy? The answer may seem obvious. Central banks have responded to the stalling of interbank markets with massive injections of liquidity.

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Broad dollar weakness and an increase in demand for sterling has pushed the price back near $1.63

Posted by Forex News Resource on October 16th, 2009

Sterling achieved a three-week high of 1.6297 against the dollar yesterday, supported by upbeat comments about the UK economy.

  • The pound jumped nearly three cents, or 1.8%, against the dollar on speculation that policy makers will pause their asset-purchase programme next month as the economy shows signs of recovering from the recession.

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For Britain – low interest rates and the weakening pound

Posted by maradona on October 14th, 2009
With the advent of a more precise plan of the Conservative Party of Great Britain and slightly more predictable state of the economy of this country, it becomes possible to make assumptions about the future situation.

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No reprieve yet for the ailing pound; continues to slide further against the euro

Posted by Forex News Resource on October 7th, 2009

The pound slid for the third consecutive day against the single currency, losing 0.6% following a fall in industrial output, to close at 1.0812.

  • Sterling received an early boost yesterday morning as a Halifax survey revealed a further rise in UK house prices of 1.6% in September, buoying hopes of a strengthening economy.

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Forex Weekly Trading Forecast – 09.28.09

Posted by Forex News on September 27th, 2009

US Dollar: Optimistic Economic Outlooks to Meet Hard Facts This Week

Fundamental Outlook for US Dollar: Bullish

- The Federal Reserve left rates unchanged, but signaled a more optimistic outlook
- University of Michigan consumer confidence jumped to a 21-month high in September
- US durable goods orders tumbled 2.4% in August, marking the steepest drop since January

The US dollar ended the past week marginally higher after the Federal Reserve issued a more optimistic outlook on the economy.

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USD Up on Fed Statements; Oil Sinks on Demand Concerns

Posted by Forex News on September 24th, 2009

The US Federal Reserve yesterday upgraded its assessment of the U.S. economy, saying growth had returned after a deep recession. As expected, the Fed kept its target for its federal funds rate set at a range of zero to 0.25%.

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Positive data from NZ keeps the kiwi advancing against the pound

Posted by Forex News Resource on September 24th, 2009

Following positive news in New Zealand, the kiwi climbed strongly yesterday but had its gains steadily pulled back after the release of the MPC minutes.

  • It was revealed early yesterday morning that New Zealand had officially exited recession posting a third quarter positive GDP figure of 0.1%, which pulled the price to a low of 2.2433.
  • The report raised expectations that the Reserve Bank of New Zealand would move to tighten monetary policy sooner than previously forecast.
  • However, the kiwi had most of its gains steadily eroded throughout the day’s trading after the minutes from the latest UK MPC meeting revealed no discussion over reducing current interest rates, with the pair closing at 2.2696.
  • In trading this morning, the kiwi has advanced further, currently trading up nearly a percent, as fresh data from New Zealand showed that domestic consumer confidence jumped to a four-year high in the third quarter.
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GBP Anticipates Volatility before Rate Decision

Posted by Forex News on September 10th, 2009

With mixed results versus its primary currency counterparts, the British Pound appears to be consolidating many of its trends towards a volatile movement; positioned to take place today, it appears.

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