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Day: January 16, 2009
January 162009
Pound Gains against Euro
The British pound rose against the euro today along with some other major currencies as the euro suffers from the trade balance deficit, while the traders long for some high-yielding European currency, which the pound still is. Eurostat agency reported that the November 2008 trade balance deficit of the European Union countries was at €7 billion compared to €2.3 billion surplus in November […]
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January 162009
EUR/USD Up on Negative CPI, Industrial Production Drop
EUR/USD rose from its monthly low today — for the first time this week — after the U.S. reports on CPI and industrial production failed to meet the traders extremely pessimistic expectations. The better outcome for the U.S. economy means a better outcome for the global economy, which is good for such currencies as the euro. EUR/USD is currently trading near 1.3281. CPI […]
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