ECB president Trichet speaks; Jobless claims up to 474K

Last Updated on Thursday, 5 May 2011 03:56 Written by Elena Rajkovic Thursday, 5 May 2011 03:56

European Central Bank news conference about Interest Rates has started. Trichet is giving a speech saying that ‘underlying economic momentum remains positive’ and that he sees an ‘upwards pressure on inflation’. Stating also that ‘Risks to euro zone inflation remains on upside’ and that inflation is to hike over 2% in the coming months, assuring that ECB is ‘monitoring developements very closely’.

BoE Bank Rate remains unchanged

Last Updated on Thursday, 5 May 2011 02:28 Written by Elena Rajkovic Thursday, 5 May 2011 02:28

Bank of England announced its decisions on the Bank Rates and rgw Money Printing Programme. The eight-member committee of the BoE decided to keep both unchanged.

ECB highly anticipated press Conference shoot Euro upwards

Last Updated on Thursday, 5 May 2011 01:18 Written by Elena Rajkovic Thursday, 5 May 2011 01:01

UK Services PMI (Purchasing Managers’ Index) came out earlier today with weaker news than expected. April’s Activity Growth fell from March’s 57.1 to 54.3; while expectations cicled around 55.8.

GBP/USD is trading at 1.6482. EUR/GBP is trading just above the 90 cent line at 0.9016.

US ISM Non Manufacturing data

Last Updated on Wednesday, 4 May 2011 05:42 Written by Elena Rajkovic Wednesday, 4 May 2011 05:27

Institute for Supply Management non Manufacturing missed its estimated figure by 5.1, as data was announced to be lower at 52.8 from the estimated 57.9; also lower from the prior month’s 57.3.

European currency shining at 13-month high

Last Updated on Wednesday, 4 May 2011 05:19 Written by Elena Rajkovic Wednesday, 4 May 2011 05:19

The Euro is trading better against the Greenback than it has for the past year and a half passing the border of 1.49, trading at 1.4927; a 17-month peak. The news releases have been on a toll today, announcing Retail Sales during the European Session and ADP Employement change in the US. The European Currency was not affected by the lower than expected Retail Sales and really pushed its barrier when US ADP figures were released lower than the US forecasted. The US release pushed the Euro higher against the Dollar.