FOLLOW MARKETMOVES

EUR/USD update (5th July 2012, 17:00)

The euro erased all of its recent gains and slumped 1.23% to $1.237 by 3.25pm (London time), following the European Central Bank's decision to cut its benchmark rates.

A better-than-expected US ADP payroll report for June also saw the dollar strengthen, as it cast doubts over QE3. The ECB today cut the refinancing rate by 25 basis points to record low of 0.75%, which lowers the borrowing costs to banks, businesses and consumers. It also cut the deposit rate to 0% in a bid to force banks to lend money instead of parking it at the central bank.

ECB president Mario Draghi said the decision was taken in view of the risks surrounding economic growth and lower inflationary pressures in 2013. Although the rate cut was largely expected, the announcement still exerted pressure on EUR/USD, which saw it drop 84 pips in 30 minutes. 
comments powered by Disqus

All Forex News

Tags

, ECB, EUR/USD

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 (5th July 2012, 17:00)

The euro erased all of its recent gains and slumped 1.23% to $1.237 by 3.25pm (London time), following the European Central Bank's decision to cut its benchmark rates.

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?