The euro and pound started the week trading without an obvious direction against the US dollar, as the Euro snapped back versus the commodity dollars (AUD, NZD, CAD) which were under pressure in early trade on Monday.
Since 9.30am Tuesday the Euro and Pound have both made sharp moves upward from their undecided bases. With EURUSD pushing up towards 1.2900, the level it closed under during the 2nd half of last week.
Stabilizing the EURUSD allows the establishment of a technical base before publication of PMIs in the Eurozone this morning. Traders …

After a couple of days of depressing losses, the Euro finally looks a little sharper with small but promising gains against the US Dollar putting it at 1.2950 in mid morning trading. Since the annoucement last week of new measures by the ECB to stimulate the European Union, the single currency was falling.
Across on “old blighty” the story is much different. The anticipated Scotland independence vote has gathered some pace towards the “yes” camp, say recent opinion polls. And although it is only a poll, the news give sterling a …

The Euro dropped across the board yesterday, falling to news lows for the last 14 months against the US Dollar. The trigger event was of course an unexpected rate cut from the ECB. To encourage stimulus in the Euro, it dropped the refinancing rate to 0.05, the lowest ever since the single currency came into play.
Mario Draghi announced the plan to buy a large portfolio of asset backed securities as of October. His actions show a clear plan to weaken the Euro and stimulate trade, thus trying to lower inflation. …

There was a negative feel on the Euro and British Pound this morning, with the Euro pushing only slightly higher against its peers, and manufacturing data in the UK held GBP back from any further gains.
In some trading institutions, a call for weaker Euro was echoed, and also written in the financial times.
The Euro bears will have to wait, though according to analysis, the downward trend which has been in place since March is still intact, limiting any gains for the Euro. Many are forecasting a return to $1.25 by …

The US Dollar lost ground against other major currencies after the release of bleak data on the U.S. economy and, while it was sluggishy heading to 1,360 in early trade yesterday, the euro appreciated to more than 1,363 dollars yesterday.
The GDP of the United States shrank 2.9% annualized in the first quarter of 2014, and not only by 1% as previously estimated. Yet economists expected a downward revision to about 1.5%.
The Commerce Department said the review was for the fact that the increase in consumption and expenditure of households is …

Even though there was mixed data on UK retail sales, the bulls seems to have totally taken control of GBPUSD. Behind the strength of the British Pound, analysts point primarily to the comments made by BOE officials.
And despite the fact that there was a less bullish stance in the BoE minutes, it’s noted that we can count three UK policymakers who have stated an earlier increase in rates may be due. Obvously this is going to push GBP rate higher in the short term.
Across the channel, the Euro regained some …

The most recent US economic data has kept up the dollar strength against its main competitors. While the EUR/USD continued to range between the resistance line at 1.3580 and the yearly lows at 1.3500, the levels of GBP/USD has remained steady around the 1.70 level.
The focus of the forex market now will be on the US Federal Reserve policy decision and even though the market has already priced in a gradual and steady reduction in quantitative easing (QE), the Fed is also anticipated to change its predictions that could increase …