Currency News

Wolfgang Schaeuble stressed, that a possible decrease in base interest rate by ECB, won’t have any relief on small and medium enterprises

Germanys Finance Minister, Wolfgang Schaeuble, announced today, that problems, which small and medium business in Euro zone encounters, could not be solved by a simple decrease in the base interest rate by the European Central Bank. Schaeuble pointed out that problems in the Small and Medium Enterprises (SME) sector could be a result of a […] Read more

Dollar continued trading close to four and a half year high versus Yen, while euro currency weakened

Thursdays trade marked a close to 4,5 year high movement of the USD/JPY, after the reported exceedingly strong economic growth from Japan than estimated. During the late European trade session the pair gained almost 0.40%, reaching 102.59-60. It was announced that Japan achieved a 0.9% increase in its GDP during the first quarter of the […] Read more

Italy – surplus on trade balance during March

Earlier today was reported, that Euro zones third largest economy, Italy, reached surplus on its trade balance during March. The amount was 3.2 billion euros, which significantly exceeded the 1.8 billion euro surplus during March 2012. Reasons behind this result could be traced in the decreased level of demand in the country itself, while export […] Read more

Positive data from New Zealand, NZD/USD took a drop though

New Zealand dollar decreased its value against the US dollar during Thursday session, despite the positivity around manufacturing sector in New Zealand. NZD/USD pair fell to 0.8208, lowest value during Asian session, followed by certain increase to 0.8217. Support levels were expected at 0.8175, lowest value from Wednesday trade, while the pair was likely to […] Read more

US Dollar lifted from lows against Japanese Yen

In expectation of Thursday US data, the dollar increased its value versus the Yen. USD/JPY jumped off levels around 101.97 and reached the 102.35-44 zone during the course of trade. The pair was expected to find resistance at 102.75, highest value from Wednesday, while the support levels were at 101.50, lowest value from Monday. Positive […] Read more

Euro being traded closely to six week low against the US dollar

During Thursday trading session the single currency reached six week low against the US dollar, after crucial data, that came out on Wednesday, regarding the contracting Euro zone economy for sixth quarter in a row. EUR/USD cross reached levels at 1.2855-57, followed by certain increase and consolidation at 1.2866, during Asian session. The pair was […] Read more

British pound preserved positions against US dollar due to Bank of England statements and strong UK data

During todays trading session after the statements of Bank of England experts and optimistic data from UK, british pound managed to preserve gained ground versus the US dollar. GBP/USD cross reached 1.5272 in the early phase of US session today, followed by consolidation at 1.5240. Resistance level was expected at 1.5331, highest value from Tuesday, […] Read more

Industrial activity in New York area surprisingly shrinks

New York Empire Manufacturing Index unexpectedly contracted in May as factories remained short of orders and sales slowed down, Bloomberg reported. The Federal Reserve Bank of New York’s general index dropped to -1.43 this month from 3.05 during April. Values below zero stress on contraction in New York, northern New Jersey and southern Connecticut. Bloomberg […] Read more

EUR/USD pair trades near six week low levels after the disappointing data from United States

Through the course of todays trade the EUR/USD cross diminished its value to near six week low, because of the disappointing data from US and the shrinkage of Euro-zones Gross Domestic Product. The euro slides down to 1.2844 against the US dollar, its lowest level since April 4th, then gained some ground and reached 1.2870-77. […] Read more