The latest manufacturing data is in for the eurozone, and it’s more positive than expected. As a result, the euro is gaining ground against many of its counterparts. This might the news that the 18-nation currency region has been waiting for, since it signals that maybe another recession isn’t inevitable after all.
October 22nd, 2014 at 10:53
Once again, the Bank of England is disappointing Forex traders, and that is leading to a lower pound today. With a rate hike nowhere in sight, there is little to help the sterling against its major counterparts.
October 21st, 2014 at 10:51
Yesterday, the ECB announced that it is buying covered bonds as part of a plan to try to keep the eurozone economy from sliding back into recession. This announcement is weakening the euro, and the 18-nation currency is down against its major counterparts.
October 20th, 2014 at 10:25
Euro is trading mixed today, gaining ground against low beta currencies, but losing ground against its high beta counterparts. There is a lot of concern about the euro right now, and the 18-nation currency is only getting a bit of a boost as risk appetite makes an appearance.
October 17th, 2014 at 10:44
UK pound has been ailing recently, and the gains for stocks today are helping remedy that — at least for now. Concerns about the UK economy are on the rise, so the sterling’s gains today may not last.
October 16th, 2014 at 10:51
Euro is falling back now, falling a rally that took place yesterday and in earlier trading. Euro surged higher, especially against the US dollar and the Japanese yen, earlier, but now things are changing. Concerns about risk are back on the table, and lower commodity prices are having their impact.
October 15th, 2014 at 10:28
Euro is losing ground against some of its counterparts as the latest economic data is released throughout the 18-nation currency zone. Even though Germany’s CPI reading met expectations, the country had to slash its growth forecast.
October 14th, 2014 at 10:30
UK pound continues to struggle against its major counterparts today, performing mostly lower across the board. Inflation data is a big part of the problem for the sterling today, with concerns about the economy starting to creep back in.
October 13th, 2014 at 11:00
Euro is heading higher against many of its major counterparts today, gaining ground as a respite from recent difficulties. Once again, the ECB is promising to do what it takes to keep the eurozone afloat, and that is providing at least some support for the 18-nation currency.
October 10th, 2014 at 10:26
Once again, Mario Draghi is a bit of a downer. His remarks yesterday at the Brookings Institution are dragging on the euro, since they indicate that the ECB is ready to double-down on stimulus measures likely to weigh on the 18-nation currency.