Euro recovers slighty from it’s 7-week low; GBP/USD rises after CPI news

Tuesday, 17 May 2011 12:01

The Euro kept steady above the 1.40- line, and the 7-week low since March, as it traded between 1.4129 and 1.4174 in today’s session against the U.S Dollar. The pair mostly focused at 1.4155 while it’s currently trading at 1.4178. Portuguese bailout news eased the euro’s downward spiral against the Dollar, finding support for the currency at 1.4150.

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U.S Dollar gains strength

Friday, 13 May 2011 10:50

The U.S Dollar is continuously gaining strength against the euro, as the 17 nation currency is hit by news such as Greece’s speculating 60B bailout plan, and Portugal’s preparation to receive a bailout package. After half a year on the high end, the euro is seen to be falling.

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U.K manufacturing production at 0.2%

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.

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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.

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UK PPI data higher than expected

Friday, 6 May 2011 02:39

UK Producer Price Index (PPI) data showed a turn towards the good side as Input prices were release at 2.6%, 0.9% more than the estimated value (1.7%). Although lower than the previous month’s 3.8%, the Streling showed positive attitute and gained both against the Dollar as well as the Euro.

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