Day: July 12, 2013

July 12
2013

UK Pound Pulls Back after Yesterday’s Gains

Yesterday, the UK pound went on a tear, heading higher against the majors. Today, though, the tables have turned a bit. Sterling is lower almost across the board, and Forex traders are considering what the next move by the Bank of England will be. Thanks to the absence of more economic data, as well as remarks indicating that the United States could see the tapering of its asset purchase program delayed, the UK pound saw some […]

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July 12
2013

Euro Drops as ECB Board Member Reiterates Low Rates

Euro is heading lower today as indications for continued loose monetary policy from the European Central Bank continue to come. Euro has dropped a reasonable amount, but is still off its low, and trying to stabilize. ECB executive board member Vitor Constancio commented earlier that the eurozone is making a slow economic recovery, and that means that policy has to remain “accommodative.” Many are taking that […]

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July 12
2013

EUR/USD Fails to Recover on Higher US PPI

The currency pair continued to move in its yesterday’s direction during the major part of the trading session. To the dismay of the euro bulls, the markets are reacting pro-USD on some improving US fundamentals today. Producer price index advanced at a monthly rate of 0.8% in June, following 0.5% growth in the month of May. PPI was expected to come out at the same 0.5% this time too. (Event A on the chart.) University of Michigan Sentiment Index was reported […]

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