Having traded strongly against the dollar in the early session, the euro surrendered gains in the afternoon session, pulling the price down sharply to close a $1.4873.
Posts Tagged ‘Speculation’
The dollar is recovering losses against euro on speculation that the Fed may signal a tightening of monetary policy
Posted by Forex News Resource on October 27th, 2009
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Pound continued to climb against the aussie yesterday as confidence in the UK economy improved
Posted by Forex News Resource on October 22nd, 2009
A broadly stronger pound hit a two-week high against the aussie, briefly rising over 1.8000, as confidence in the UK economy gained momentum.
- Sterling jumped following the minutes from the Bank of England’s latest policy meeting, which dampened expectations of an extension to quantitative easing.
Improving global economic sentiment continues to raise demand for kiwi assets, boosting the NZ currency vs the pound
Posted by Forex News Resource on October 20th, 2009
The kiwi advanced over three and a half cents (1.6%) against the pound yesterday as investors showed renewed enthusiasm for risky assets.
Sterling is making strong headway against a weakened dollar, advancing towards 1.62
Posted by Forex News Resource on October 15th, 2009
Sterling made strong gains in early trading yesterday following better-than-expected employment data, but the price pulled back to close up 0.4% at $1.5980.
Bearish sentiment towards the pound prevailed yesterday, but the sterling is rallying strongly against the euro today
Posted by Forex News Resource on October 15th, 2009
The pound relinquished early gains against the single currency, closing marginally down at 1.0704 as rising risk appetite benefited the euro.
- Sterling initially rose against the single currency yesterday after data showed a smaller than expected rise in the number of UK jobless claiming benefits, and the overall unemployment rate unexpectedly held at 7.9%.
Sterling picked up from early lows to post marginal gains against the euro yesterday
Posted by Forex News Resource on October 14th, 2009
The pound reversed its three-day slide against the euro as a surprise dip in a German economic sentiment index offset weak UK inflation data.
- In early trading, sterling was undermined by a declining inflation rate, which prompted further speculation that interest rates could be on hold at 0.5% until 2011 and sent the UK currency to a six-month low of 1.0628.
Euro posts gains against the US dollar as risk appetite ushers investors into high-yielding currencies
Posted by Forex News Resource on October 13th, 2009
The single currency recovered some of the losses it incurred on Friday, gaining over half a cent against the greenback as risk appetite in the market strengthened.
- Rallying equities yesterday, which have been boosted by stronger commodity prices and optimism about the US corporate earnings season, also buoyed support for the euro, allowing it to briefly trade over 1.48.
Investors were cautious yesterday ahead of an ECB rate decision, but the euro has rebounded this morning
Posted by Forex News Resource on October 8th, 2009
The euro relinquished some of its recent gains against the greenback yesterday, with investors on the defensive ahead of the ECB rate decision today.
The kiwi dollar has risen sharply following a positive business survey and the RBA rate increase
Posted by Forex News Resource on October 6th, 2009
The kiwi dollar posted a 2.1% gain, a movement of four and half cents, against the pound yesterday in the wake of a strong business confidence survey.
Stong servies data and rallying equities were unable to buoy a weak pound yesterday, enabling the dollar to creep up
Posted by Forex News Resource on October 6th, 2009
The pound continued to edge downward, undermined by speculation ahead of the MPC meeting later this week.
- Data revealed that Britain’s services sector grew more strongly than expected in September, expanding at its fastest rate for two years, quelling fears over the UK recovery following weak PMI data in the manufacturing and construction industries last week.
A strong kiwi dollar shrugged off weak data from the US to post gains against sterling on Friday
Posted by Forex News Resource on October 5th, 2009
Sterling relinquished gains against the kiwi dollar on Friday, as concerns mounted over the strength of the global recovery, with the price closing the week at 2.2269.
Weak US data sapped demand for the aussie yesterday, enabling the pound to gain
Posted by Forex News Resource on October 2nd, 2009
The pound rebounded strongly yesterday, gaining over two cents, or 1.3%, as a sharp rise in risk aversion in the market, dulled demand for the ‘riskier’ currency.
An easing of risk appetite has strengthened the dollar
Posted by Forex News Resource on October 2nd, 2009
A broadly stronger pound eventually relinquished its gains against the dollar yesterday, to close the day down 0.15% at $1.5955.
- The British currency initially edged higher after the IMF said that UK gross domestic product will expand 0.9 percent next year, from a July prediction of 0.2 percent, as the housing market slump eases and exports increase.
- However, the pound fell back in the afternoon, weighed down on speculation that money authorities would express some form of support for the US currency at the G7 meeting.
- Additionally data showed that the UK manufacturing PMI unexpectedly fell in September for the second consecutive month, which hampered sterling’s progress.
- In the US, both unemployment claims and manufacturing data posted below forecasts, which eased risk appetite and pulled the pound back below the 1.60 resistance level.
- The dollar is trading higher today as investors take up defensive positions as they await US non-farm employment data released at 13:30BST, which will give the market short-term direction.
Euro advanced yesterday but its progress has been halted today in the wake of dovish euro speculation
Posted by Forex News Resource on October 1st, 2009
The euro pushed higher against the dollar yesterday in choppy trading, even as disappointing US economic data weakened stocks.
- The single currency made strong gains yesterday morning, supported by the results of the ECB cash tender offer.
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Broad dollar weakness and an increase in demand for sterling has pushed the price back near $1.63
Sterling achieved a three-week high of 1.6297 against the dollar yesterday, supported by upbeat comments about the UK economy.
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