Posts Tagged ‘ economy ’
The EUR/USD currency had a change on its positive trend today despite a fall in the U.S. number of pending home sales, as factory orders rose in North America and mainly thanks to an ECB statement affirming that stimulus will last as long as they are necessary to help the region’s economy to increase its pace of recovery. EUR/USD is falling and currently trades at 1.3565. Pending Home Sales, a forward-looking indicator based on contracts signed in January, fell [ READ MORE ]
The President of ECB Jean Claude Trichet offered strong support for the austerity measures taken by Greece but backed away from any formal attempts to help bailout the country’s finances and noted that the IMF would not be appropriate as a “supplier of help” to the Greek economy. Mr. Trichet’s emphasis on letting Greece [ READ MORE ]
As expected the BOE kept its benchmark rates steady at 50bp and did not expand its asset purchasing program. The BOE maintained its QE program at 200 Billion pounds for the second month in a row as UK monetary authorities decided that the current level of monetary stimulus was enough for the UK economy. [ READ MORE ]
The U.S. dollar posted its sharpest decline versus the euro today despite a gross domestic product report published today showed growth in the North American economy for last year’s final quarter. Existing home sales slid much beyond forecasts, allowing the euro to pare a good amount of this week’s losses. EUR/USD currently trades at 1.3674. Preliminary GDP report for last year’s fourth quarter showed a growth of 5.9%, from the previous [ READ MORE ]
Last week, the Fed raised the discount rate by 25 basis points, to .75%. Investors have consistently focused the brunt of their collective monetary attention on the Federal Funds Rate, and the markets (forex included) barely registered a response to the move. Regardless of whether apathy in this particular context was justified, investors who turn [ READ MORE ]
After the dollar gained in the beginning of the week as the U.S. economy provided traders with more optimism than in the Eurozone, the greenback slid today as Federal Reserve Chairman Ben Bernanke said that low borrowing costs shall remain in the country as long as the economy need them to surge, declining appeal for the dollar in forex markets. At the moment, the EUR/USD currency pair is at 1.3581. New home sales declined for another month reaching 309k in January, from [ READ MORE ]
By now, most investors are well aware of the acronym BRIC, which stands for the emerging market powerhouses of Brazil / Russia / India / China. When the idea was conceived in 2003, it seemed to make a lot of sense, as these four economies were at the top of the GDP ‘league tables,’ year-after-year. [ READ MORE ]
EUR/USD continued to trade cautiously on either side of 1.3550 after setting yet another fresh eight month low at 1.3440 in early European trade, while cable was pressured by negative comments from BOE’s Barker who suggested that another quarter of negative growth was a distinct possibility for the beleaguered UK economy. In an [ READ MORE ]
After the stock markets closed this afternoon, the Federal Reserve raised the discount rate by 25bp to 0.75 percent, sending the U.S. dollar sharply higher against all of the major currencies. Although the Fed went out of their way to say that this does not equate to a change in their monetary policy outlook, [ READ MORE ]
The dollar outperformed virtually all of the 16 main traded currencies as domestic reports ranging from manufacturing to housing showed better than expected numbers for the U.S. economy, boosting attractiveness for assets in the country as the economic growth accelerates. The euro erased yesterday’s gains as the EU is unlikely to fund a bailout for Greece to solve its budget deficit issues. EUR/USD is near the lowest level in 2010 and trades at 1.3608. Building permits were at seasonally adjusted [ READ MORE ]
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