Category: Forex News
EUR/USD May 11 – Recovers from Lows on Greek Coalition Hopes
Euro/dollar is now recovering from the lows it fell into, as some hope for a forming a government is emerging in Greece. A moderate left wing party is now shifting towards a compromise with the pro-bailout parties. Worries about Spain’s banking issues and lower growth forecasts weigh on the euro. With a relatively light calendar, news
US Jobless Claims Remain Low
Weekly unemployment claims in the US now stand at 367K, 1000 people less than last week. The consensus was for a rise from last week’s 368K (revised up from 365K) to 371K this time. EUR/USD is marginally weaker after this release. Also USD/JPY is a bit lower. This is very moderate “risk averse” movement to
No New QE in Britain – GBP/USD Jumps Higher
The British Monetary Policy Committee made no changes in policy. While this was highly anticipated, some had expected 25 billion pounds in additional QE. The confirmation of no new QE boosts the pound and helps complete a full recovery. The worsening situation in Europe lifted expectations for more QE, known in the UK as Asset
EUR/USD May 10 Euro Steadier, but Greek Drama Continues
Euro/dollar edged upwards after yesterday’s (May 9th) drop, but was still trading below the 1.30 level, as the political crisis in Greece continues. With some Greek politicians openly stating that the bailout package is null and void, the markets can be excused for being jittery. There are quite a few releases today, so the markets should be busy. There are three key releases
GBP/USD Recovers as British Manufacturing Production Rises
Manufacturing production in the UK rose by 0.9%. Early expectations stood on a rise of 0.5%. GBP/USD is now at 1.6110 after dropping under 1.61 prior to the release. Cable is awaiting a more important event later on. GBP/USD was falling prior to the release from the higher ground of 1.6140-1.6150 down to 1.61. Support
Drop in Unemployment Rate Helps AUD/USD Escape from Parity
Australian employment surprised to the upside with a very surprising drop in the unemployment rate. This was enough to keep AUD/USD away from parity. Looking deeper at the numbers shows a mixed picture. How long will the Aussie keep up? The country down under gained 15.5K jobs, while a loss of nearly 5K jobs was
EUR/USD Dipping Below Support – Is Bad News Finally Reflected?
Is the bad news from Greece and Spain finally pushing the euro lower? EUR/USD is now dipping below the critical line of 1.2945 which successfully cushioned the pair earlier in the week. The break is not confirmed yet, and could be false, but it’s the lowest since January. EUR/USD is now at 1.2934, below the
EUR/USD May 9 Euro Slump Continues, Falls Below 1.30
The euro dropped below the 1.30 level, as the fallout from the French and Greek elections continue to spook the markets. There are fears that the political instability in Greece and the sharp turn to the left in France may interfere with austerity measures designed to alleviate the Euro-zone debt crisis. The markets received a dose of good news early this
EUR/USD May 8 Euro Calmer, But Markets Brace For Elections Fallout
Euro dollar is edging down towards the pivotal 1.30 level after yesterday’s (May 7th) sharp decline. The mood is the markets is anything but calm after the dramatic elections in France and Greece. The margin of victory for the Socialists may have been small, but the sharp shift to the left will be enormous. With the inconclusive results of the Greek election, there are
EUR/USD May 7 Euro Slides After Dramatic Election Results in France and Greece
Euro dollar was down sharply following the dramatic election results in France and Greece yesterday. The Euro fell below the 1.30 level, hitting a three-month low, as voters in France showed President Sarkozy the door, and voted in Socialist leader Francois Hollande. In Greece, voters vent their anger by throwing out the ruling government, but