Tag Archives: Euros

Japans GDP contracts 4%

Posted on May 20, 2009 by admin

Japan’s economy has contracted by 4% in the first quarter of 2009, taking the annual rate of contraction to 15.2% as the strong yen and slump in global trade battered the Japanese export sector. The pound is trading at its highest level in 2009 against the US dollar and has strengthened against the euro and yen amidst the view that the UK is well placed for economic recovery.
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Sterling five month high

Posted on May 19, 2009 by admin

The pound has hit a five-month high against the US dollar this morning on the back of the view that recession is bottoming out in the UK. Anticipation of economic recovery has driven demand for the higher yielding currencies and both the pound and euro climbed against the dollar overnight. Continue reading →

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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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Equity Markets Stall

Posted on May 12, 2009 by admin

Equity markets have been on hold overnight as investors suddenly feared they may be taking on too much risk. There remain a number of unknowns in the global economy and further evidence of positive data may be needed to trigger another rally. Currency exchange rates are little changed although the ‘higher risk’ Australian and New Zealand currencies have trimmed gains against the US dollar and euro.
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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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Markets look to BOE

Posted on May 7, 2009 by admin

Currency exchange rates are likely to be subject to volatility today as interest rate decisions from the Bank of England and ECB are due. The results of “stress tests” on US banks are also due later in the day and this could affect exchange rates for all the major currencies. The Australian dollar reached a 12-year high against the pound overnight as positive figures from the US and buoyant Australian retail sales improved investor confidence.
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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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Markets Hit Four Month High

Posted on May 5, 2009 by admin

Stock markets climbed to a four-month high in London this morning, as abating fears over swine flu and prospects of economic recovery improved appetite for risk. Recent PMIs released in the UK and Europe have shown the pace of recession is easing and this has improved market sentiment. Interest rate decisions from the ECB and Bank of England are due 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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