EUR/USD update (20th May 2013, 13:00)20 May 2013
The euro is higher versus the US dollar today as dealers close out their short positions.
The euro is trading at $1.2863 today, up 0.2%, as traders are buying back into the currency in order to lock in their profits on short trades. The euro has come down 3% versus the dollar since the beginning of...
EUR/USD update (20th May 2013, 06:00)20 May 2013
Strength in the greenback was triggered by a better-than-expected consumer confidence reading, which showed the strongest print since July 2007.
The move higher in the USD weighed on the risk FX space, as EUR/USD lost ground. The pair dipped just below $1.28 on Friday, but has since managed t...
EUR/USD update (17th May 2013, 12:00)17 May 2013
The euro is trading lower versus the US dollar following reports the US will cut back on quantitative easing (QE).
The euro is trading at $1.2875, down a touch on the day after John Williams of the Federal Reserve Bank of San Francisco stated that the Fed will reduce the size of its stimulus packag...
EUR/USD update (17th May 2013, 06:00)17 May 2013
It was a confusing night for the greenback, as US economic data disappointed and led to a USD sell-off.
Unemployment claims, CPI, housing starts and the Philly Fed manufacturing index all came in worse than expected. However, this was short lived as another Fed member came out and suggested i...
EUR/USD update (16th May 2013, 12:30)16 May 2013
After this morning’s EU consumer price index (CPI) figures, currency traders will be waiting to see how the US CPI figures come in.
The EUR/USD currency cross looks set to retest the end of March lows of $1.2750, after a brief sojourn up to the $1.32 region. The overriding sentiment is that the US ...
EUR/USD update (16th May 2013, 06:00)16 May 2013
There were some mixed moves in the currency space overnight, but overall the US dollar managed to maintain its gains against the majors.
It continued to edge higher, despite data suggesting the US economy isn’t quite where the Fed would want it to be before starting to taper off on asset purc...
EUR/USD update (15th May 2013, 12:30)15 May 2013
The euro is off against the US dollar after the eurozone economy is reported to have contracted for the sixth quarter in a row.
The latest report from the eurozone shows us that the economy contracted by 0.2% for the first quarter of 2013 compared with 2012, making this the euro's sixth consecutive...
EUR/USD update (15th May 2013, 06:00)15 May 2013
The US dollar continued to edge higher against most of the majors as confidence mounts in the US economy’s recovery.
Yesterday it was a spike in the small business index reading which showed that confidence is spilling over to the smaller players of the economy. An article running in the Fina...
EUR/USD update (14th May 2013, 12:00)14 May 2013
The currency cross continues to oscillate either side of this psychological level.
Yesterday’s Eurogroup meeting failed to bring any real changes in the stated manifesto of tactics to help the region grow its way out of its current economic troubles. It was always unlikely that the 17 nations would...