Posts Tagged ‘Euro’
UK GDP & BoE
Posted in Currency News Currency Updates by mporter
The Pound has recovered back above 1.20 against the Euro and continues to trade around 1.55 against the US Dollar on the interbank market.
Despite UK Gross Domestic Product (GDP) data showing that the UK economy contracted by 0.2% in the final quarter of 2011, the initial market reaction suggests that many expected the data [...]
Euro woes
The Euro has continued to depreciate as markets become increasingly unconvinced with the outcome of last week’s EU summit. European bond auctions will be monitored as Germany and Italy auction €5b of 2 year bonds and €5b respectively.
Pressure was also increased on the Euro following last night’s Federal Reserve decision to hold interest rates [...]
Euro Talks
Posted in Currency News Currency Updates by mporter
Euro Talks Calendar
Monday: Nicolas Sarkozy and Angela Merkel meet to try and agree a plan for tighter eurozone controls
Italian PM Mario Monti seeks parliamentary approval for his austerity package
Ireland’s government begins to unveil details of its proposed austerity budget
Tuesday: US Treasury Secretary Timothy Geithner arrives in Germany before travelling to France and Italy for [...]
Bank of England Quarterly Inflation Report & Eurozone Bond Yields
Posted in Currency News Currency Updates by mporter
Today’s Bank of England Quarterly Inflation Report has suggested that UK inflation has peaked and is likely to fall sharply from its current rate of 5% (down from 5.25% in the previous month September) to 1.3% over two years. The Bank has also cut its UK economic growth forecasts to 1% for 2011 & 2012 [...]
ECB Rate Cut
The European Central Bank has cut interest rates by 0.25% to 1.25%. The Markets will now await the ECB press conference at 13:30, possible Greek PM resignation and the on-going G20 summit.
EURUSD 1.3742
EURGBP 0.8580
GBPEUR 1.1655
03/11/11 12:55
Euro Uncertainty
Financial markets have responded negatively to the unfolding drama surrounding the Greek bailout, with equities and the Euro starting November under strong selling pressure.
EURGBP fell from last week’s high of 0.8830(GBPEUR 1.1325) to a low of 0.8548 (1.16986) yesterday and is currently trading around 0.8611 (1.1613).
Against the US Dollar the Euro fell from [...]
EU Debt Crisis Deal
The Euro has appreciated following the EU summit deal on the Eurozone debt crisis. The agreement came after prolonged late night talks and for the time being has convinced the financial markets they have a response to the economic crisis. The deal will focus on 3 key points:
Firstly, private banks will be asked to accept [...]
Bank of England Minutes
Posted in Currency News Currency Updates by mporter
The Pound continues to trade either side of 1.14 against the Euro and around 1.57 against the US Dollar following the release of this morning’s Bank of England minutes.
The minutes showed that the Monetary Policy Committee (MPC) voted unanimously in favour of increasing its current Quantitative Easing Asset Purchase Programme by a further £75bn [...]
European Sovereign Debt Crisis
Posted in Currency News Currency Updates by mporter
The European sovereign debt crisis continues to pose a significant threat to the recovery of the Euro-zone and to the wider global economy. The €109bn bail-out agreed in July for Greece may have averted an immediate significant Greek default and contagion spreading to Ireland, Italy, Portugal, and Spain but the Euro-zone continues to face significant [...]
BoE and ECB
Posted in Currency News Currency Updates by mporter
The Pound has appreciated against the Euro following today’s Bank of England and European Central Bank (ECB) interest rate announcements. Both Banks kept their interest rates on hold at 0.50% and 1.50% respectively.
However, in the following ECB press conference, ECB president Jean-Claude Trichet struck a more cautious tone, warning that the Euro-zone economy will grow [...]
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