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Euro Forex News

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Feb 11, 2011 04:46 pm
#1
roxanaz User

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تاریخ عضویت: 27/01/2011

Hosni Mubarak steps down as president of Egypt

Egypt vice-president Omar Suleiman announced on state TV that president Mubarak has decided to step down after 18 days of protests in capital Cairo. The euro briefly pared recent losses after announcement. It climbed to 1.3570 USD, soon to restart loosing ground at 1.3535 USD.

Feb 11, 2011 04:59 pm
roxanaz User

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تاریخ عضویت: 27/01/2011

Axel Weber resigns as president of German Central Bank, speculation on candidate for ECB presidency

Axel Weber resigned as president of German Central Bank and will leave his office starting 30th of April. A successor will be announced next week. The news makes room for speculation who is in line as candidate for European Central Bank (ECB) presidency, once Jean-Claude Trichet's term expires in October. Weber was seen as the most pertinent choice, and his hawkish views on inflation would have increased expectations of interest rate increases. International media point as possible successors central bankers Mario Draghi from Italy, Luxembourg’s Yves Mersch and Erkki Liikanen of Finland.

Feb 15, 2011 10:24 am
roxanaz User

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تاریخ عضویت: 27/01/2011

Euro zone economy grew with 0.3% during the last quarter

Euro zone economic growth was 0.3% in the last quarter, below expectations of 0.4% and at the same pace as the third quarter. Compared with the same quarter of the last year, seasonally adjusted GDP increased by 2%, up from 1.9% the previous quarter. In the US, economy grew with 0.8% in the last quarter and, compared with the same quarter of the previous year, GDP rose by 2.8%. In Japan, economy decreased by 0.3% in the last three months of 2010. In the entire European Union, the GDP grew with 0.3%, below the rate of the third quarter of 0.5%. Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 2.1% in the EU27 in the fourth quarter of 2010, down from 2.2% in the previous quarter. Over the whole year of 2010, economy grew with 1.7% in both the euro area and the EU. .

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Feb 16, 2011 12:54 pm
paradise User

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تاریخ عضویت: 01/12/2010

Merkel Confirms Jens Weidmann To Succeed Axel Weber As Head Of Bundesbank

Mar 02, 2011 05:11 pm
roxanaz User

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تاریخ عضویت: 27/01/2011

Euro continues steady climb against dollar, at new highs of 2011

The euro was trading at 1.3863 USD, up 0.63%, after reaching a high of 1.3889 USD, on speculation about European Central Bank (ECB) monetary policy meeting on Thursday. ECB is expected to give further signs of rate hikes ahead of Federal Reserve, and if this will happen, the euro might test even the 1.40 USD level, analysts say. The dollar has been lately loosing ground as tensions in the Middle East increased, although the greenback was generally considered a safe-haven during times of unrest. The increasing oil prices that also benefited the dollar proved to be putting pressure, as US economy is not considered as stable enough.

Mar 03, 2011 12:48 pm
roxanaz User

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تاریخ عضویت: 27/01/2011

Euro slips against dollar ahead ECB rate decision

The single currency fell from a high of 1.3882 USD to trade at 1.3860 USD, ahead of ECB rate decision. The dollar index was up 0.08%, at 76.73.

Mar 03, 2011 12:51 pm
roxanaz User

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تاریخ عضویت: 27/01/2011

ECB keeps rate at record low 1%

The European Centrla Bank (ECB) kept the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 1.00%, 1.75% and 0.25% respectively. ECB president Jean-Claude Trichet is expected to give more details during the press conference at 2.30 pm CET.

Mar 03, 2011 01:54 pm
roxanaz User

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تاریخ عضویت: 27/01/2011

Euro jumps above 1.3970 USD after Trichet inflation comments

European Central Bank (ECB) president Jean-Claude Trichet said euro zone price evolution has risks on the "upside" and that "strong vigilance" is warranted, according to Marketwatch.com The single currency jumped as high as 1.3970 USD against the dollar after the statement was made.

Mar 03, 2011 02:21 pm
roxanaz User

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تاریخ عضویت: 27/01/2011

Euro jumps against dollar on hawkish Trichet, greenback higher against other rivals The euro surged against the dollar after ECB president Trichet hawkish comments on inflation, while the greenback started to recover ground against many important rivals. The euro jumped as high as 1.3970 USD from a level of 1.3845 USD following European Central Bank (ECB) President Jean-Claude Trichet press conference, where he said that euro zone prices evolution carry “upside risks” and that “strong vigilance is warranted” to tackle the problem. The hawkish statements followed an ECB monetary policy meeting during which the central bankers left the interest rate unchanged at the record level of 1%, but reinforce views that euro zone central bank will hike rates before the Federal Reserve. The euro was slightly edging down before Trichet press conference from highs of 1.3877 USD in early European trading. The euro, which has been lately supported by ECB officials’ hawkish statements, had been under slight pressure on Thursday as the dollar started to gain some ground after Al-Jazeera said Libyan leader Muammar Gaddafi and the president of the Arab League agreed to a peace plan from Venezuela’s president, Hugo Chavez. The dollar reached a high of 0.9306 CHF against the safe-haven Swiss franc and was later buying 0.9280 CHF, still up 0.43%. Against the Japanese yen, the greenback was up 0.35%, at 82.17 JPY. The dollar index, which tracks the greenback’s value against a basket of other major currencies, was down 0.2%, at 76.52, due to the US currency’s fall against the euro. The British pound also recovered some of its earlier losses against the dollar and was trading at 1.6300 USD, still down 0.1%. The sterling had slipped in early European trading from 1.6333 USD to 1.6260 USD after weaker than expected UK service PMI figures. UK Services PMI dropped in February to 52.6 from 54.5 in January, showing a sharper than expected slowdown, as markets were forecasting 53.5.

Mar 03, 2011 02:34 pm
roxanaz User

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تاریخ عضویت: 27/01/2011

Trichet: Interest rate hike in April, possible

European Central Bank (ECB) might raise interest rates in April from the current record low level of 1%, although this is not certain, central bank chief Jean-Claude Trichet said on Thursday during a press conference. "It is possible. It is not certain", Trichet stated in a more hawkish statement than expected. "We are never precommitted" to rate moves, he said, adding that the following decision in April will depend on further data. Although he didn't want to make any statement regarding how big the rate hike might be, Trichet said he doesn't expect a big one. Also, he stated that a possible rate hike will not be "certainly" the first step in a "series" of rate hikes. Trichet warned also about risks "on the upside" for inflation, saying that "strong vigilance is warranted".

Mar 04, 2011 06:17 pm
roxanaz User

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تاریخ عضویت: 27/01/2011

Euro holds gains, only slightly hit by Spain rating outlook cut

The single currency was holding its gains against the dollar, trading at 1.3982 USD, after it reached a high of 1.4006 USD. The euro was only slightly hit by rating agency Fitch decision to revise Spain's rating outlook to negative from stable, falling for a short period as low as 1.3965 USD. The agency confirmed Spain's long-term foreign currency issuer default rating at AA+.

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