Currency Market Updates

EUR/USD Dropping Towards 1.40

It is fair to say that the euro has been well and truly smashed over the last few trading days and is on the ropes…Concerns are increasing on the maintainability of the ever expanding growth in China and fears that China will act further to slow the rampant growth by raising rates…Later today from the US we have weekly jobless data.

Sterling Eyes 1.15 Against The Euro

Sterling is continuing its rally against the euro but has fallen back against other major currencies. GBP/EUR is pushing up and has already hit the key 1.15 level in trading today as the euro is pummeled against the major currencies. Later today we have US PPI and housing starts as well as earnings from various financial entities including Northern Trust, State Street, US Bancorp, Morgan Stanley and Wells Fargo.

Sterling Strides Ahead in 2010

There are prospects for a Bank of England interest rate rise in 2010 and the official UK inflation data certainly offers the Bank of England something to think about in early Feb.

Big Week for Sterling!

The National Institute of Economic and Social Research (NIESR) estimated that UK fourth quarter GDP which is due out next week will come in at +0.3%- so therefore the UK will be out of recession!

Obama Pledges New Tax on Banks

Rumour surrounding the German Chancellor, Merkel, sent the euro down sharply…the euro is weakest in the Far East… how much have JP Morgan earmarked to give in pay and bonuses?

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