Further ‘negative’ outlook for Sterling
Last Updated on Tuesday, 24 May 2011 12:06 Written by Elena Rajkovic Tuesday, 24 May 2011 12:06
UK Data was released with higher than expected results, which this time not good news for the currency. Public Sector Net Borrowing was released at 7.7 billion from being forecasted at 5.0 billion. It would have marked good news for the English currency if the forecasted number was greater than the actual number released.
German IFO remains unexpectedly steady
Last Updated on Tuesday, 24 May 2011 11:52 Written by Elena Rajkovic Tuesday, 24 May 2011 11:52
Anxiously anticipated German IFO Business climate news remained at a steady rate of 114.2, while expectations discussed the possibility of the German IFO to come out at 113.9. Shortly after the positive news release, EUR/USD jumped from 1.4060 to trade at 1.4093; its current point. The European currency struggles to make a recovery after yesterday’s heavy downfall below the line of 1.40. After the currency fell to 1.3969, it attempted a recovery to keep itself off the 1.3950 resistance level.
U.K on ‘negative’ outlook by Chinese rating firm
Last Updated on Tuesday, 24 May 2011 11:31 Written by Elena Rajkovic Tuesday, 24 May 2011 11:19
Moody’s Investor Services placed 14 U.K financial institutions in for reviews; such as Lloyds TSG, CO-OP bank, RBS, Santander UK Plc etc. Possible downgrade is imminent. Meanwhile, China’s rating firm (Dagong Global Credit rating) pushing the United Kingdon off by a notch from Aa- to A+.
Euro losing strength
Last Updated on Monday, 23 May 2011 05:05 Written by Elena Rajkovic Monday, 23 May 2011 05:05
The Euro stripped down to a new two-month low, below the 1.40 zone, hitting 1.3968 earlier today versus the Dollar. Later on through the day, the Euro was trading steadily against the U.S Dollar along the lines of 1.40-41, currently lining in 1.4000.
Bank of Canada announces CPI
Last Updated on Friday, 20 May 2011 02:25 Written by Elena Rajkovic Friday, 20 May 2011 02:25
Canadian Consumer Prices rose to 0.2% on a month on month basis for April; from the predicted 0.1%, yet CPI fell from previous result of 0.7%. So, Canadian Core CPI fell by 0.5% from March.
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