The Pound was trading around the 1.27 level against the Euro after it found support from the release of the latest house price data. According to a report compiled by Halifax, house prices in the UK increased by 0.6% in September, beating forecasts for an upturn of 0.2%. In the three months to September, prices increased 9.6% on an annual basis. The data reduces some of the concerns that the UK housing sector is slowing down. In general the longer term trend remains down, but there is possibility of support …

The British Pound was holding at a two-year high against the Euro after data out of the 18-member currency bloc showed that inflation fell to its lowest level in five years. Sterling meanwhile remained supported by the release of a report which showed that the UK economy expanded at a faster rate than previously thought. The Pound could make further gains in Wednesday’s session if the latest domestic Markit/CIPS Manufacturing PMI report adds to signs that the UK economic recovery is continuing.
US Dollar
The US Dollar made gains against the Pound, …

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 …