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Day: February 12, 2010
February 122010
Europe Economic Data Extends Euro’s Downtrend
The euro is going to finish another week posting losses versus most of the 16 main traded currencies after GDP figures published today for the European Union showed worse-than-expected numbers for the region which is already suffering from Greece’s financial crisis. Economic figures published today for the last quarter of 2009 showed that the economic recovery in the European Union lost traction as the data was considerably below forecasts, evidencing the economic […]
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February 122010
Pound Down on China’s New Requirements
China brought risk aversion once again to high levels before the end of this week’s session after it announced new lending requirements for banks, making the pound to trade towards another week of losses versus lower yielding currencies. The pound was once again affected by a negative market sentiment internationally after China, for a second time this year, announced new lending reserve requirements for banks to provide loans, in order […]
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February 122010
EUR/USD Ends Week Declining Again
The EUR/USD currency pair is ending this week posting a decline as economic data published in Europe was again less optimistic than in the U.S., after retail sales and business inventories improved in the North American country in reports published today, as well as employment conditions, which could be verified in a jobless claims report published yesterday. In Europe, quarterly gross domestic product released today brought more pessimism to the region as actual data […]
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February 122010
Ruble Benefits From Oil Rally
Russia is one of the main suppliers of oil for Europe, and today, as the energetic commodity continued to climb, the ruble profited from renewed confidence in trade markets and gained versus several currencies of its trading partners. The ruble continued its longest winning streak in 2010 so far this Monday, as the crude oil traded above $74 a barrel today, allowing commodity-linked currencies to outperform less appealing options in foreign-exchange markets as optimism was […]
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February 122010
Krona Hits Record High on Swedish Interest Rate Outlook
The Swedish krona traded at the highest level in more than a year versus the euro as the nation’s central bank signaled that interest rates may be hiked sooner than previously expected by analysts, bringing regional investors to purchase assets in the region. The Swedish currency profited from a favorable scenario in both international and national scenarios as the Riksbank said its intentions are to raise interest rates at some point during summer or early autumn, […]
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