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Day: October 29, 2010
October 292010
Consumer Confidence in UK Improves, Supporting Pound
The consumer confidence in the UK unexpectedly improved this month, supporting the Great Britain pound and possibly allowing it to post the weekly gain after the previous streak of the losses. GfK NOP Consumer Confidence Barometer rose from -20 to -19 in October. The analysts expected the decline to -22. The analysts are unsure whether the confidence would remain firm after the government would announce its plans for the budget cuts. GBP/USD rose from 1.5940 […]
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October 292010
Euro Slips After Discussion of Mechanism to Prevent Debt Crisis
The euro fell today as the European Union’s leaders discussed the permanent debt mechanism, causing the concerns about the renewed debt crisis in Europe. Angela Merkel, the Chancellor of Germany, won the support of other EU policy makers to create the permanent debt-crisis mechanism, which would help to avoid another fiscal crisis, like the one shook the Europe this year. The retail sales in Germany unexpectedly fell 2.4 percent in September. The Stoxx Europe 600 […]
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October 292010
EUR/USD Trades Near Opening Level, Reports from US are Good
EUR/USD slowly returns to its opening level after it dropped sharply after discussion of EU leaders about measures to prevent debt crises renewed concerns about, well you guess it, debt crisis. Advance GDP report showed the value for the third quarter, which was better than for the second quarter, even though slightly below forecasts. Other reports also were rather beneficial. EUR/USD trades now […]
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October 292010
BoE May Postpone Quantitative Easing — Pound Rises
The Great Britain pound surged as the report this week showed the faster growth of the UK economy in the third quarter, causing the speculation that the next round of the quantitative easing would be postponed. The Britain’s GDP increased 0.8 percent in the third quarter of 2010, twice the forecast value. The Standard & Poorâs removed the negative outlook for the UK debt and confirmed Britain’s top AAA credit rating. The favorable economic data reduced the speculations that […]
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