U.K manufacturing production at 0.2%

Last Updated on Thursday, 12 May 2011 02:44 Written by Elena Rajkovic Thursday, 12 May 2011 02:44

U.K Factory Production m/m release for March was weaker than expected as the manufacturing production figures rose by a small 0.2% from 0.0%, rather than rising to 0.3% as forcasted. GBP/USD fell earier in the day to the 1.6280 line, and even further down dater the news to trade at lower than 1.6280; to 1.6260.

Finns agree to back Portuguese bailout plan

Last Updated on Thursday, 12 May 2011 12:05 Written by Elena Rajkovic Thursday, 12 May 2011 12:05

S&P might possibly downgrade Portugal from BBB- if the country’s banks will not be able to follow capital rules or require a bigger bailout plan. Standard and Poor released this in yesterday’s reports.

Aussie and Yen fall after news releases

Last Updated on Thursday, 12 May 2011 11:23 Written by Elena Rajkovic Thursday, 12 May 2011 11:23

After the news report the Japanese currency weakened contrasting the U.S Dollar and traded at USD/JPY 81.15 from 81.02. The pair is currently trading at 81.06, strengthening the yen slighty from the 13 pip fall.
The Australian Dollar also fell against the U.S Dollar after Australian news about jobless claims and employment change were released with a negative attitude; as opposed to what was expected. While jobless rates remained the same at 4.9%; employment change fell by a staggering 22.1K from an expected 17.6K.

BoE boost Sterling

Last Updated on Wednesday, 11 May 2011 05:37 Written by Elena Rajkovic 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

Last Updated on Wednesday, 11 May 2011 12:05 Written by Elena Rajkovic 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.