Currency News

British pound declined sharply against US dollar on weak UK retail sales data

Minutes ago was reported that Retail Sales in United Kingdom registered a drop by 1.3% during April on a monthly basis, distancing from estimated value for a 0.1% increase and further deteriorating in comparison with official data during previous month, which showed a decline by 0.6%. GBP/USD pair erased earlier gains and dropped sharply from […] Read more

Mark Carney remarked Europe was in need of crucial reforms

Bank of Canada Governor Mark Carney stated on Tuesday, that Europe could be up against stagnation, unless it embarks on big reforms and follows Japans current policy to boost economic growth. Carney said that recession in Europe was held back by fiscal austerity, thin credit policy and low confidence. Carney, who is expected to take […] Read more

Japan’s trade balance deficit rose during April

It was reported earlier today, that deficit on Japans Trade Balance widened during April, as import grew at a higher rate than export. Deficit figure rose to 880 billion JPY during April from 364 billion JPY during the preceding month. It became clear that export rose below expectations by 3.8% annually, while import exceeded estimates […] Read more

EUR/USD pair steady before Bernanke testimony

EUR/USD cross remained almost without change during early European session on Wednesday, as markets await the economic testimony of FED Chairman Ben Bernanke today. The pair reached 1.2939 during Asian session, highest value since May 15th, after which the euro positioned itself versus US dollar at 1.2911-1.2920 levels. Support was likely to be received at […] Read more

European Central Bank should follow FED policy, according to James Bullard

A senior Federal Reserve official, James Bullard stated on Tuesday, that asset purchasing on huge scale was the closest move to a normal monetary policy, especially when interest rates fell towards zero. He gave a remark that European Central Bank was to take such measures if inflation rates continued to decline. St. Louis Federal Reserve […] Read more

British pound continued to sink against US dollar

British pound sunk during Tuesday trading session against US dollar on official data, regarding consumer prices inflation in United Kingdom, which dropped for the first time during April since September. GBP/USD pair fell to 1.5111, a lowest value since April 4th, after which was set at levels 1.5121-1.5130. Support was expected at April 3rd lowest […] Read more

US dollar continued its expansion against Canadian counterpart

During Tuesday early American session USD/CAD pair reached 1.0297, session high for the moment of this article, as FED minutes and Ben Bernanke testimony were at the center of markets attention. USD/CAD increased to 1.0297, after which consolidated at slightly lower levels, 1.0286-88. Support levels were expected at 1.0234, lowest value for current session, while […] Read more

Producer Price Index in Germany hit 3-year low

Earlier today official data came out, regarding production cycle prices in Germany, which showed deceleration during April. Major reason for this decline was the dropping oil prices, as Producer Price Index (PPI) reached three year low on annual basis. PPI decreased in value by rate of 0.2% during April, while estimates showed barely a 0.1% […] Read more

GBP/USD reacted downward after consumer price data from UK

British pound lowered below 1.5200 against US dollar on release of the crucial consumer price index data from UK today. GBP/USD pair reached 1.5171, currently sessions lowest value. Resistance levels were expected at 1.5255-1.5275, while the pair was likely to be supported at 1.5180-1.5160. It was reported that Consumer Price Index (CPI) in UK slowed […] Read more