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Asian Session – Euro drops to six-week low

Posted on February 21, 2013 at 6:59 am GMT

Euro slid for the second day against the dollar, extending losses in the Asian trading session on Thursday. Yesterday the euro fell to a four-week low of $1.3273, after the dollar was boosted in reaction to the FOMC minutes which showed some Fed officials even suggested ending QE (quantitative easing). The US Federal Reserve released the minutes of the January FOMC meeting which indicated that the Fed could slow or even stop buying assets before seeing the pickup in hiring. [..]

US Session – Dollar jumps after Fed minutes suggest possible end of QE

Posted on February 20, 2013 at 8:16 pm GMT

The dollar strengthened against the euro and the yen in late US session trading on Wednesday after the Federal Reserve released the minutes of the last FOMC meeting in January. The minutes indicate that the Fed could slow or stop buying assets before seeing the pickup in hiring. Some Fed officials even suggested ending QE (quantitative easing) altogether. The minutes reveal that many Fed officials are worried about the costs and risks arising from the $85 billion per-month asset purchase [..]

Forex News – Dollar rises versus yen after upbeat US housing data

Posted on February 20, 2013 at 2:15 pm GMT

The dollar rose 0.3 percent against the yen after some upbeat US housing data in the early US trading session on Wednesday. The US housing sector is showing improvement and is good news for the nation’s economic recovery. USDJPY ticked up to a session high of 93.74 from 93.44 yen before the data at 8:30am New York time. Data from the Commerce Department showed that building increased on new single-family homes, to 613,000 houses, the most in four years since [..]

European Session – Sterling tumbles to 15-month versus euro on dovish BOE

Posted on February 20, 2013 at 1:30 pm GMT

The euro held onto gains against the dollar early in the European session, hitting a high of $1.3430 before sellers emerged and booked profits. This dragged EURUSD down 0.5 percent to $1.3365 going into the US session. The euro had rallied sharply yesterday after a strong German ZEW survey indicated that investor confidence in Europe’s largest economy grew much more than expected this month and rose for the third month in a row to the highest level since April 2010. [..]

Forex News – Sterling tumbles on expectations of more QE

Posted on February 20, 2013 at 9:44 am GMT

Sterling tumbled after the release of the Bank of England’s Monetary Policy Committee (MPC) meeting minutes which called for more quantitative easing (QE). Despite the MPC unanimously voting to keep interest unchanged at 0.5 percent, they were split over QE and 6-3 voted in favour of more asset (bond) purchases. MPC members who voted were outgoing BOE governor Mervyn King, executive director for markets Paul Fisher and external MPC member David Miles. Expectations of more bond purchases from the current [..]

Asian Session – Euro breaks above $1.34

Posted on February 20, 2013 at 6:40 am GMT

Euro was broadly lifted after a strong German ZEW survey indicated that investor confidence in Europe’s largest economy grew much more than expected this month and rose for the third month in a row to the highest level since April 2010. EURUSD soared to a high of $1.3433 in the Asian trading session on Wednesday, up 0.6 percent since the open of Tuesday’s Asian session. Focus turns to economic data due later today on European consumer confidence and German CPI [..]

US Session – Euro gains on German data, Yen rises for a second day

Posted on February 19, 2013 at 9:06 pm GMT

The euro rose 0.3 percent to a high of $1.3394 in the US session, after being lifted by upbeat German data released earlier in the day. The closely watched German ZEW investor confidence index rose to its highest since April 2010, beating even the highest forecasts. ZEW sentiment index increased to 48.2 from a previous 31.5 in January. Economists had forecast a rise to 35.3. Germany is Europe’s largest economy and is perceived to be Europe’s engine of growth, so [..]

European Session – Euro briefly lifted by upbeat German data

Posted on February 19, 2013 at 12:33 pm GMT

The euro jumped against the dollar after upbeat German investor confidence rose more than expected and for a third time in a row, lifting market sentiment for a while. ZEW sentiment index increased to 48.2 from a previous 31.5 in January. Economists had forecast a rise to 35.3. Germany is Europe’s largest economy and is perceived to be Europe’s engine of growth, so the news gave markets hope that the German economy faces less headwinds from the euro crisis than [..]

Forex News – Euro jumps after German ZEW investor confidence rises

Posted on February 19, 2013 at 10:12 am GMT

Euro jumped against the dollar and European shares rose after a report showed German investor confidence rose much more than expected by over 16 points in February. EURUSD jumped to $1.3372 within a few minutes of the data at 1000GMT from $1.3340. The closely watched ZEW sentiment index increased to 48.2 from a previous 31.5 in January. Economists had forecast a rise to 35.3.This is the third increase in a row. Germany is Europe’s largest economy and is perceived to [..]

Asian Session – Yen bounces after Japan Finance Minister comments

Posted on February 19, 2013 at 6:56 am GMT

The yen bounced against the dollar and euro during the Asian session on Tuesday after Japanese Finance Minister Taro Aso said the government has no intention of buying foreign bonds through a fund with the Bank of Japan. Aso’s remarks come a day after Prime Minister Shinzo Abe’s comments when he suggested yesterday that buying foreign bonds “exists as one idea” for monetary policy easing. Such a measure tends to weaken a currency. Today’s comments from the Japanese official sent [..]

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