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 …

On the forex market this afternoon, the single European currency remained without much direction against the U.S. dollar, while remaining lower than 1.3512 / 1.3517 the dollar tested in the last three sessions.
The U.S. Federal Reserve started their meeting which ends tomorrow night with a decision of the Monetary Policy Committee and a press conference.
A neutral view was also taken against the yen (+ 0.13% to 138.36), the GBP rate (- 0.08% to 0.7987) and Swiss franc (+ 0.07% to 1.1287 ).
Yesterday, the dollar was affected by the latest …

Despite pressure on the U.S. dollar last week, the EURUSD failed to bounce back with the release of disappointing consumer confidence figures in the United States on Friday.It was expected that the greenback slip further before the weekend when a confidence index from the University of Michigan hit below expectations. However, this statistic is indeed revised down to 81.2 (preliminary figure) in June against 81.9 in May. The consensus forecast was set at 83.0.
The failure of the euro to rebound against the U.S. dollar while the latter sold off against …

The single European currency regained slightly against the dollar on Friday although somewhat less positive than thought by those who had followed last week U.S. statistics. At this time, the euro holds 0.10% against the dollar at 1.3564, roughly the same as yesterday.
The European currency was severely punished: in fact, the ECB has engaged in monetary transactions of importance, lowering its interest rates and announcing new bank refinancing. In addition, the U.S. employment report for May proved better than expected, which indicates a favorable dynamic U.S. economy.
But this morning, the …