Posts Tagged ‘Fed’
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 [...]
Federal Reserve & US Dollar
Ben Bernanke, Chairman of the Federal Reserve has indicated that there will be no immediate monetary stimulus but that the Federal Reserve will consider the use of all its monetary tools at their next meeting in September.
“The Federal Reserve has a range of tools that could be used to provide additional monetary stimulus. We discussed [...]
Sterling falls following dovish Bank of England
Posted in Currency News Currency Updates by mporter
The Pound has depreciated this morning (22/06/11) following the release of the latest minutes from the Bank of England Monetary Policy Committee (MPC). The minutes indicated that the Bank of England is less likely to raise interest rates this year, which makes Sterling less attractive to investors seeking higher yielding currencies*.
The minutes show that out [...]
Interest Rates
Posted in Currency News Currency Updates by mporter
Today (07/04/11) as expected the European Central Bank (ECB) has raised its benchmark interest rate by 0.25% to 1.25%, the first such increase since July 2008. The Bank of England has kept interest rates on hold for the 25th month at their historic low of 0.5% and the Bank’s Quantitative Easing Asset Purchase Programme remains [...]
Stronger than expected UK PMI Services data
Posted in Currency News Currency Updates by mporter
Sterling has spiked higher today (05/04/11) following the release of stronger than expected Purchasing Manager Index (PMI) Services data. The PMI Services data is an indicator of the economic situation in the UK service sector. The reading of 57.1 was better than the expected reading of 52.5 and better than the previous reading of 52.6. [...]
Currency Matters
Posted in Currency News Currency Updates by mporter
The US Dollar has continued to fall following Tuesday’s meeting of the Federal Reserve. At the meeting the Federal Reserve kept interest rates on hold at 0.00-0.25% and kept quantitative easing at current levels. However, the Federal Reserve opened the door to the possibility of additional quantitative easing indicating that it would be prepared to [...]
US Dollar
Posted in Currency News Currency Updates Uncategorized by mporter
The US Dollar has fallen sharply late this afternoon (14/09/10) following a report from Goldman Sachs suggesting that the Federal Reserve could announce a new program of asset purchases (quantitative easing) in order to support the weak economy and to try and avoid a double dip recession.
The Euro has made strong gains against the US Dollar, [...]
Currency Matters – Euro
The Euro was boosted last week by the successful bond auctions by a number of Eurozone states. The demand was sufficient enough to ease concerns that Eurozone states would struggle to raise funds on the international markets.
As a result the Euro appreciated against the US Dollar pushing EURUSD through 1.30, and EURGBP through 0.84p. This [...]
Currency Update
The US Dollar has continued to appreciate following last night’s unexpected announcement by the Federal Reserve to increase its Discount Rate by 0.25% to 0.75%. The Discount Rate is the rate US banks are charged at to borrow emergency funding from the Federal Reserve. The Target Rate that banks usually borrow at remains on hold [...]
Currency Update
Posted in Currency News Currency Updates by mporter
The US Dollar remains under pressure as gold soars past $1,130 an ounce. EURUSD climbed as high as 1.4993 and has now settled around 1.4970. The Pound has also had a good day against the US Dollar hitting an interbank high of 1.6780 so far. The markets will now be eyeing Fed Chairman Ben Bernanke’s [...]
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