Category Archives: Other Currencies

Other Currencies

US Retail Slumps

Posted on May 14, 2009 by admin

The risk rally lost momentum overnight as US retail sales figures declined by 0.4% in April. US retail sales figures are a crucial to wider economic sentiment as they are directly related to business confidence and import levels. Weakened growth predictions from the Bank of England and negative industrial production figures from the eurozone also dragged exchange rates downwards for the “riskier” currencies.
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US unemployment hits 26-year high

Posted on May 11, 2009 by admin

The US unemployment rate has hit a 26-year high as the labour market shed 539,000 non-farm jobs in April. However despite the record figure, the upward trend in currency exchange rates and equity markets has continued with the pound and…

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Pound hits Four Month Highs

Posted on May 6, 2009 by admin

The bullish trend in equities and currency exchange rates continues this week as both the euro and pound reached four month highs against the US dollar. Improved prospects of global recovery are encouraging the flow of funds away from safe havens and many of the “riskier” currencies are receiving a boost in exchange rates this week.
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UK economy contracts 1.9%

Posted on April 24, 2009 by admin

The UK economy contracted -1.9% in the first quarter of 2009, more than economists expected with record declines in the manufacturing and service sectors. This news has sent the pound plunging against the dollar and euro as investors also remain…

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Euro climbs against US dollar

Posted on April 23, 2009 by admin

The euro has risen against the US dollar this morning with economic news from the eurozone showing the pace of recession easing in the last month. Yesterday market focus was on the pound with the UK budget and 6.7% unemployment…

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UK budget released today

Posted on April 22, 2009 by admin

Foreign exchange markets will focus on sterling today with the annual budget released in the UK. Equity markets rallied overnight on the back of comments from US Treasury Secretary Geithner. This fuelled a bounce in currency exchange rates that failed…

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Euro at 5 week low

Posted on April 21, 2009 by admin

The euro is sitting at a 5 week low against the US dollar this morning as the single currency continues to be plagued by uncertainty surrounding ECB strategy. Larger than expected credit write downs at Bank of America yesterday reignited…

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Euro hits one-month low against dollar

Posted on April 20, 2009 by admin

The CBI has predicted the UK economy will contract by 3.9% in 2009, more than twice the amount predicted by Alistair Darling late last year. The euro has reached a one month low against the dollar amid concerns that the…

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Sterling gains on Euro

Posted on April 17, 2009 by admin

Better than expected jobless data in the US yesterday bolstered investor hopes of a tentative stability in the world’s largest economy. While economic data continues to be mixed, there is growing evidence the rate of decline is slowing in the…

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UBS to cut 8,700 jobs

Posted on April 15, 2009 by admin

Switzerland’s biggest bank, UBS, has said it will seek to cut costs by shedding 8,700 jobs by 2010. The news came as the bank announced it had lost about 2bn Swiss francs in the first three months of 2009. UBS…

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