Pound news:
Sterling did take part in quite an impressive rally yesterday namely against the euro, climbing to €1.1871 a high of the year. It has subsequently come down from that level to trade at €1.1748 which is still a respectable level given where GBP/EUR prices have been so far this year.
The US Dollar also surrendered
Pound news:
The pound made significant gains against a weaker Euro yesterday and is continuing to trade within the 1.17 range this morning. The pound hit a high of 1.1830 at midnight last night as investors sold the single currency yesterday, on concerns over debt problems in the euro zone, which they considered as more severe
Euro news:
Technically the euro has fallen for the third straight day against the US Dollar but these falls are happening in smaller increments as the markets become well versed in eurozone developments.
The Spanish banking bailout has been the most recent catalyst for market jitters but risk aversion will persist so long as the bailout package
Pound news:
UK GDP in line with expectations at 0.3%, a very important figure in relation to Sterling performance. So far today Sterling is very much on the back foot against the dollar, session lows coming in at $1.4277 with current trading levels not too far away at $1.4295. Trading has been, and is likely to
Pound news:
A slight rally has been forthcoming from Sterling against both the dollar and the euro but the current levels are still not anything of great significance. Against the euro the Pound is trading at €1.1595 which is equates to a 0.84% gain for the day but not testing the mid €1.16 levels. For the
Pound news:
Sterling has been very much range bound for the past week with the $1.4350 level maintained when taking out the highs and the lows of the day. Overnight Sterling recovered into the $1.4400 level but market open sees GBP/USD trading at $1.4387. For the moment Sterling appears to have caught some momentum trading up
Pound news:
Sterling got off to a slow start this morning as the market waited for retail sales figures. These figures came bang in line with market expectation at up 0.3%. As a result Sterling is trading in calm waters for the moment, slightly down on the euro at €1.1583. The situation with British finances are
For regular readers of my articles you will note that more often than not the subject matter is not specific to intraday trading but more specific to wider global macroeconomic events. However, such were the movements in the currency markets today that commentary was absolutely necessary for two reasons.
The first reason being that a
Euro news:
The big news for the eurozone is the ban on short selling in the German markets. As to be expected this has had a negative effect on the euro as those wanting to profit from a deteriorating eurozone will move into shorting euro futures contracts. It is quite likely that we will see EUR/US
Euro news:
No one is too sure how this Euro crisis is likely to end given that most of the analysts and investors are sure that it is destined to fail yet EU ministers are saying quite the contrary. What is clear is that the bailout has bought Greece some time, but little else. Furthermore, the