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.

ECB president Trichet speaks; Jobless claims up to 474K

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’.

ECB highly anticipated press Conference shoot Euro upwards

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.