BoE boost Sterling

Wednesday, 11 May 2011 05:37

The Bank of England reported some good news, unheard of in a long time; inflation forecasts went up and boosted the GBP/USD breaking its resistance level.

EUR keeps it between the lines of 1.44

Wednesday, 11 May 2011 12:05

The European currency hit a week low at 1.4253 against the American currency. Analysts are saying that the euro will probably stay at around the 1.45- line unless shaky news such as a rate hike renewal hits from the European Central Bank.

Speculation about the a Greek bailout plan was also one of the factors affecting the euro, though it is yet unknown whether a bailout package for Greece will indeed be put forward.

Greece struggles to escape downward spiral

Tuesday, 10 May 2011 12:25

Headlines has been covered with ‘Greece’ this past week as news of ridding the Euro and downgrade have been surfacing. In yesterday’s announcements Standard and Poor downgraded Greece from BB- to B while Moody’s is threatening to also downgrade the country in the near future.

Euro Drops versus the Dollar; while UK House Prices fall to a 7-month low

Monday, 9 May 2011 02:16

EUR/USD opened up this week’s trading session at 1.4359, also reaching 1.44. The Dollar went off its 3-year low and grew stronger than the Euro. The currency is keeping a pace along the lines of 1.43-44.

EUR/GBP dropped to 0.8789 from the 0.88 zone. GBP/USD is trading a little lower than the 1.6390- line that it was trading earlier, to trade to 1.6360- line.

Canada’s Jobless Claims reduced, with more than 50K added jobs

Friday, 6 May 2011 02:49

Canadian Jobless Rate came out with good news of 7.6% from the predicted 7.7%. Unemployement rate has lowered, and 58.3K jobs were created in April; much more than what analysts forecasted at 18.3K.