FOLLOW MARKETMOVES

EUR/GBP update (30th Sep 2010, 11:30)

Ireland’s announcement that the cost of its support of Bank of Ireland would amount to up to €34 billion sent the euro down against sterling this morning, as the enormity of Dublin’s financial commitment began to sink in.

The bailout costs will push the Irish fiscal deficit from 11.75% of GDP in 2010 to an eye-watering 32%, somewhat above Maastricht Treaty guidelines of 3%. The single currency was hit further by news that ratings agency Moody’s had joined its counterparts Fitch and Standard & Poor’s in downgrading Spain’s credit rating from AAA to AA1 with a stable outlook. The agency cited a weak economic outlook and doubts that Madrid will hit its deficit reduction targets. It expects the Spanish government to meet its budget target of debt as 9.3% of GDP but thinks it will be difficult for debt to reach 3% of GDP by 2013. Continuing sovereign debt worries are likely to weigh on the euro for the foreseeable future until the markets are assured that the peripheral eurozone countries are not likely to default.

comments powered by Disqus

All Forex News

Trusted Firms

All Reviews
EUR/USD update (15th April 2014, 15:00) 15 Apr 2014

Having popped its head above the $1.39 level at the tail end of last week, EUR/USD has found itself pulled back.

AUD/USD update (14th April 2014, 18:00) 14 Apr 2014

The Australian dollar is gaining ground against the US dollar, as traders prepare for the latest minutes release from the Reserve Bank of Australia.

EUR/USD update (14th April 2014, 16:00) 14 Apr 2014

The euro is under pressure against the US dollar as tensions in eastern Ukraine weigh on the currency.

Market Comment 14th April 2014 14 Apr 2014

European equities are set to start on the back foot as last week’s negative sentiment remains firmly intact. 

GBP/USD update (11th April 2014, 16:00) 11 Apr 2014

After touching $1.68 yesterday, sterling has dropped back, hit by weaker UK construction output figures.

EUR/USD update (11th April 2014, 16:00) 11 Apr 2014

If we see the euro close above $1.39 today, then it will be the icing on the cake for the currency, which has enjoyed a remarkable week.

Market Comment 11th April 2014 11 Apr 2014

European equities are set to open lower tracking overnight declines in the US. 

EUR/USD update (10th April 2014, 12:00) 10 Apr 2014

Momentum has taken EUR/USD higher as a steady flow of economic data has been released over the week.

Market Comment 10th April 2014 10 Apr 2014

European equities are set to show modest gains on the open due to a dovish FOMC Meeting minutes overnight. 

AUD/USD update (9th April 2014, 19:00) 9 Apr 2014

The Australian dollar has reached a new high for 2014 prior to tonight's Federal Reserve minutes release.

EUR/USD update (9th April 2014, 18:00) 9 Apr 2014

The EUR/USD has pulled back from the $1.38 mark as traders have taken their profits from two days of gains.

Market Comment 9th April 2014 9 Apr 2014

European equities are set to open mixed as traders continue to tread cautiously. 

GBP/USD update (8th April 2014, 14:00) 8 Apr 2014

Today’s strong UK manufacturing and industrial production data has helped sterling gain ground against the US dollar.

EUR/USD update (8th April 2014, 14:00) 8 Apr 2014

Solid European economic data has helped stretch the euro’s upward move into a second day.

Market Comment 8th April 2014 8 Apr 2014

European equities are set to start flat as traders tread cautiously.

AUD/USD update (7th April 2014, 16:00) 7 Apr 2014

The Australian dollar has given up some its gains from Friday and is drifting away from the $0.93 mark.



Share this with your friends

To:
From:
Your comments:

EUR/GBP update (30th Sep 2010, 11:30)

Ireland’s announcement that the cost of its support of Bank of Ireland would amount to up to €34 billion sent the euro down against sterling this morning, as the enormity of Dublin’s financial commitment began to sink in.

Read more »

Connect to successful traders – join Marketmoves.com free now

Log In or Sign up

Facebook User?

You can use your facebook account to sign up with Live streaming sport.

Connect with facebook
Remember me.
Did you forget your password?