Global News
Euro Falls Back Against Dollar
The Euro fell back against the greenback after European Central Bank President Jean-Claude Trichet suggested the financial market crisis will continue longer than anticipated.
The ECB’s President continued with a hawkish outlook for the time being by leaving the benchmark rate at 4 percent.
Trichet said “we are experiencing a rather protracted period of temporarily high annual [...]
ECB Likely To Hold While Fed May Cut Further
With the US interest rate presently at two and a quarter percent, and the ECB likely to keep interest rates set at 4 percent, we have seen a one week high against the dollar.
It is likely the Federal Reserve will cut interest rates further in the coming days, this has led to trading in favour [...]
Euro Declines Against Dollar
The Euro fell against the USD and the Yen after Eurozone Retail sales data was released. The results fell below expectations signalling a slowdown in the European economy.
“Europe is not as close to a recession as the U.S., but there are signs the European economy is slowing and will continue to slow,” said Jay Bryson, [...]
Dollar Advances in EURUSD Pairing
The USD rose to it’s highest value against the Euro this year.
UBS and Lehman Brothers claimed they’re raising $19bn, bolstering investor confidence in the USD.
Lehman Brothers sold $4bn in stocks and UBS announced plans to seek $15bn in a rights offering, leading to the USD gaining against the Swiss Franc (CHF) and the Danish Krone.
According [...]
Tide Turns For USD
After two days of sharp declines for the US dollar, a recovery has been seen against the Euro.
The rise in USD against the Euro is likely based on speculation of the spreading credit crisis hitting Eurozone banks Technical charts confirmed the Euro rose too quickly after posting its biggest two-day gain since Jan 4-5, 2001.
Gloomy [...]
Further Fed Rate Cut Likely
It looks ever-more likely the Federal Reserve will again lower interest rates. The USD fell against the Euro on speculation of such a rate cut.
The Greenback fell the most in two weeks against the Euro after a private report showed US consumer confidence fell further than expected in March.
According to Samarjit Shankar, director of global [...]
Fed Rate Cut Looking Likely
The USD fell against the Euro for the fifth day on speculation of a Federal Reserve interest rate cut later today.
It is expected that the Fed will cut the interest rate by a full percentage point to steady the shaky economy.
The US economy hasn’t been helped with the news of Bear Stearns being bought [...]
Dollar Rebounds From $1.5651 Against Euro
The USD rose to $1.5565 after falling to an all-time low against the Euro of $1.5651.
The rise came after speculation that central banks will intervene for the first time in 13 years to strengthen the US dollar.
The rebound reduced the US dollars weekly losses which reached a 12 year low against the Japanese Yen, near [...]
Dollar Falls Against Pound
The USD fell against the GBP today after a report showed UK producer-price increases matched figures of 16 years ago.
Last week the pound closed at $2.0134 against the dollar, however, it rose to $2.0194 after the government report was released.
Elsewhere experts predict a bottom to USD decline against the Euro and Yen. Resona Bank Ltd. [...]
Dollar In Freefall
The USD fell to a record low for the third day in a row.
The slow down in the economy as well as poor figures for US labor led the dollar lower today. The past few days of negative data increases speculation that Bernanke and the Federal Reserve will cut interest rates further.
“We are on the [...]
