Latest Currency News Continued - page 529

This morning’s European Central Bank monthly report could put pay to the recent improvement which the single currency has posted against Sterling. The closely-watched missive observed that the mainland European economy still has ‘a high degree of unutilised capacity’, hinting that the ECB still considers the risk of deflation in the region as a real one, in spite of comments to the contrary from the Bank’s President Mario...

The major move in the global currency markets yesterday afternoon came for the world’s premier currency pair. Euro to US Dollar exchanges EUR/USD account for a large majority of the total volume daily transacted in the global markets by dint of America and the eurozone’s standing as the world’s two most developed economies. The pair had been languishing below the 1.3500 threshold as recently as the first week of last month,...

Legendary currency market operator and global investor George Soros has expressed his concerns that the European Union is at risk of breaking up because of a lack of leadership from Germany. Soros stated during an interview within the past 24hrs that Germany needs to come to the realisation that stringent austerity measures imposed by Brussels on the eurozone’s peripheral states are in danger of plunging the region as a whole...

The POUND STERLING has been under the cosh during this week’s trading session as market participants factor-in a high percentage chance that the UK tender has topped out against the euro, US Dollar and Commodity Dollars. Friday’s UK trade balance figures are the last tier one data release for the Pound this week, and given Bank of England Deputy Governor Charlie Bean’s assertion on Monday that the resurgent Pound of the last...

The Pound Sterling (currency : GBP) has once again struggled to assert itself against the other major global currencies during today’s session, with the Pound euro exchange rate spending most of the day changing hands at below the 1.2000 GBP/EUR threshold, while the Sterling US Dollar exchange rate briefly traded down in the 1.6500s GBP/USD earlier on. However, there were a few chinks of light from the UK economy which...

In the absence of any tier one data releases from the UK or the eurozone, you might have expected yesterday’s session to be a quiet one for the Pound Sterling to Euro exchange rate GBP/EUR. If you did, you were wrong, because the pair moved steadily lower during the day, falling to as low as 1.1972 GBP/EUR during the final stretch of the European equities session. The Pound Sterling to Euro exchange rate is trading up +0.05%...

Ecostats from Asia have stolen the limelight in the global currency markets during the weekend shutdown and early trading this week. China remains the world’s second largest sovereign economy, so releases from the National Bureau of Statistics in the People’s Republic are always closely-monitored by currency market participants. Saturday’s Chinese trade figures proved to be no exception to this rule; on the credit...

The EURO continues to apparently defy gravity in gaining ground against Sterling, in spite of the European Central Bank’s suggestions over the past four months that it may need to further loosen its monetary policy in order to re-inflate its economy. Higher than anticipated whole of eurozone Consumer Price Index figures, published earlier this month, have provided the single currency with some respite, but it does not appear to...

The major risk event during this afternoon’s trading session comes in the form of the latest US labour market data. Analysts are anticipating that the closely-monitored US Non Farm Payrolls number will show that some 150,000 new jobs had been created in the vast American economy last month. Anything above this showing is likely to allow the Dollar to firm against Sterling, sending the Pound Dollar exchange rate sharply lower...

After a period of relative calm in the global currency markets, it took comments yesterday from European Central Bank President Mario Draghi to provoke a shift for the world’s major currencies. Draghi played down the effect which the crisis in Crimea might have on the eurozone economy, instead concentrating on the ‘severe’ ramifications which it may have on the Russian financial system. The top man at the ECB went on to up...