FOLLOW MARKETMOVES

EUR/USD update (22nd June 2012, 06:00)

In US trade, the euro lost ground as a synchronised slowdown in global manufacturing activity saw investors shun risk.  

Earlier in the session, eurozone sovereign bonds rallied on reports that the Spanish banks' stress tests would point to 'only' €60 billion in required capital, well below the available €100 billion. Later, the results from consultants Oliver Wyman and Roland Berger came in virtually as estimated – something in the vicinity of €51 to €62 billion. The stress test results also mentioned that the top three Spanish banks would not be required to raise new capital.  However, this ‘good’ news was overshadowed by a synchronised slowdown in global manufacturing activity.  Yesterday’s softer-than-expected HSBC Chinese flash manufacturing PMI print preceded contractionary, and slowing PMI prints in Europe and the US respectively. 
The data served to accentuate the market’s disappointment from the previous day that the Fed had not done enough to provide further stimulus to the US economy, and gave a much needed boost in sentiment.  The slowdown concerns were predictably captured in a sharp bounce in the USD at the expense of the risk currencies, gold, oil and the base metal complex. Having ended yesterday’s Australian session around the 1.2680 level, the euro slumped to close US trade at 1.2540. Upon resuming for Asian trade the euro has strengthened modestly to be currently trading in the low-1.2560s.
comments powered by Disqus

All Forex News

Tags

, EUR/USD, Fed

Trusted Firms

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

The euro is higher versus the US dollar, after the level of inflation in the eurozone remained unchanged in March.

GBP/USD update (16th April 2014, 13:00) 16 Apr 2014

UK unemployment has now dipped below 7%, the initial threshold level the Bank of England introduced in August but reneged upon last month, which has s...

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.

Market Comment 15th April 2014 15 Apr 2014

European equities are set to open flat as they’re caught between two competing poles of sentiment. 

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.



Share this with your friends

To:
From:
Your comments:

EUR/USD update (22nd June 2012, 06:00)

In US trade, the euro lost ground as a synchronised slowdown in global manufacturing activity saw investors shun risk.  

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?