Day: April 19, 2012

April 19
2012

UK Pound Gains as BOE Prepares to Wind Down Stimulus

UK pound is seeing gains again today, heading to highs not seen for 19 months against the euro. Sterling is also up against the US dollar as Forex traders look for signs that the BOE is ready to raise rates. With no more quantitative easing in the immediate future, pound is getting a boost, even though the general market tenor is one of risk aversion. The Bank of England recently […]

Read more
April 19
2012

Euro Weakens as Questions Persist

Euro is weakening today against the US dollar and the UK pound as questions about the economic viability of the eurozone persist. Even though it’s clear that eurozone countries can still sell bonds, investors are asking for higher yields. The continued economic struggle in the eurozone is weighing on the euro. Economic forecasts for the eurozone have the region slowing this year, and some think that a recession could already be underway. With […]

Read more
April 19
2012

EUR/USD Recovers on Bad News from US

Having fallen significantly during the European trading session, EUR/USD recovered equally rapidly following the worse-than-expected reports coming out of the United States. EUR/USD then stopped rising as the investors became concerned about the overall state of the global economy. US initial jobless claims went down from 388k (revised negatively from 367k) to 386k last week. The indicator disappointed dollar bulls as the value of 370k was expected from the report. […]

Read more