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Day: May 7, 2009
May 72009
Euro Rises Slightly After ECB Interest Rate Cut
The euro had a slight rise against the dollar after the European Central Bank cut its benchmark interest rate to 1 percent, a record low for the European economic bloc. The speculations that the ECB would cut its rates were confirmed today after the European policy makers set the interest rate to 1 percent in the Eurozone, an effort to avoid the current severe […]
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May 72009
Australian Dollar Hits 7-month High on Favorable Employment Data
The Aussie rose against the yen after a regional jobs report in Australia showed an increase in employment conditions and data. The yen had a day of losses against the main currencies in Oceania, after continuous evidences that the global financial situation may be improving, pushing investors towards high-yielding assets and decreasing the risk aversion sentiment on equity markets. In Australia, after a report showing gains […]
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May 72009
EUR/USD Trades with High Volatility after ECB Rate Cut and U.S. Employment Report
EUR/USD rose immediately after ECB announced a rate cut today but then began to fall sharply before the reports on the U.S. employment sector were released. Now its trading near 1.3360 — above its daily open level at 1.3312. ECB decided to cut the interest rate by 0.25% today and now the Eurozones benchmark rate is at 1%. Initial jobless claims were at 601k last week — down […]
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