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Euro drops as Spain denies call for aid is imminent
3 Oct at 12 PM
News Item Link: Euro drops as Spain denies call for aid is imminent
An announcement by Prime Minister Mariano Rajoy of Spain that the country is not expecting to make an imminent call for aid from Europe has dented the euro slightly. However, things could have been worse for the single currency if the Australian dollar hadn’t fallen against most other currencies after an announcement by the Reserve Bank of...
Euro rebounds from three-week trough
1 Oct at 2 PM
News Item Link: Euro rebounds from three-week trough
The euro recovered from sinking to a three-week low against the dollar on Monday as manufacturing data from the euro bloc was better than anticipated, but continued doubts about Spain’s bailout kept gains limited.
The manufacturing sector in France deteriorated dramatically last month, while Germany’s Purchasing Managers’ Index went...
Spain budget announcement sees euro stay above two-week low
28 Sep at 10 AM
News Item Link: Spain budget announcement sees euro stay above two-week low
The euro was able to hold above its two-week low versus the dollar after Spain announced a fresh budget which many market players saw as the first step towards requesting financial aid.
With the third quarter coming to an imminent end, the euro is on course to close it out with a marginal gain, but the quarter ahead is likely to see the...
Euro remains near one-week trough against dollar
26 Sep at 3 PM
News Item Link: Euro remains near one-week trough against dollar
The euro hovered close to a one-week low versus the dollar on Wednesday, held back by continued uncertainty over whether Spain will finally request financial aid.
The situation worsened in Spain on Tuesday as angry protesters took to the streets of Madrid to vent their dissatisfaction about further austerity measures which will be...
Australian dollar weakens on profit-taking
24 Sep at 6 PM
News Item Link: Australian dollar weakens on profit-taking
The Australian and New Zealand dollars weakened on Monday as profit-taking brought an end to rallies that were driven by world central banks launching stimulus moves earlier in September.
Meanwhile, the euro fell close to a low hit last Thursday due to ongoing uncertainty over Greece and Spain, while repatriation in Japan helped the yen...
Euro and Aussie bounce back
21 Sep at 10 AM
News Item Link: Euro and Aussie bounce back
The euro regained some ground on Friday, but saw its gains limited on the back of a spate of surveys that revealed business activity in the eurozone was still weak.
The single currency climbed by 0.1 per cent to $1.2986, after falling to a low of $1.2920 on Thursday. Meanwhile, the Australia dollar went up by 0.3 per cent to $1.0468, and...
Dollar held back by Fed
17 Sep at 6 PM
News Item Link: Dollar held back by Fed
The dollar remained close to a seven-month trough versus a number of major currencies at the beginning of the week, and was expected to remain pressurised on the back of the Federal Reserve’s decision to launch monetary stimulus to prop up the US economy.
The central bank’s announcement last week that it was to carry out a third wave...
Dollar down as Fed announces stimulus
14 Sep at 9 AM
News Item Link: Dollar down as Fed announces stimulus
The dollar fell broadly on Thursday, dropping to a seven-month trough versus the yen and a four-month-low against the euro as the Federal Reserve revealed it was to inject further money into the flagging US economy.
The Fed announced that it would purchase $40bn of mortgage debt a month and will keep buying this and other assets until...
Euro climbs to four-month peak ahead of German decision
12 Sep at 2 PM
News Item Link: Euro climbs to four-month peak ahead of German decision
The euro reached a four-month peak versus the US dollar on Wednesday ahead of a decision by a German court on whether it will back the rescue plan for the eurozone.
Traders said the single currency could surge past stop-loss orders of $1.2895 should the German Constitutional Court give its backing to Europe’s largest economy...
Euro loses ground on dollar
10 Sep at 6 PM
News Item Link: Euro loses ground on dollar
The euro fell versus the dollar at the beginning of the week as investors braced themselves for this week’s Federal Reserve policy meeting.
The market expects that the Fed will launch a fresh round of quantitative easing in order to prop up the faltering economy. However, despite the single currency’s losses, it remained near...