Skip to content

forex update

US Dollar Poised to Fall nice currencies photo / picture nice currencies photo / picture

All the reports released this week conspired against the U.S. dollar value. It all started with the release of the highest unemployment rates since you and I probably were not even born and the things were much worse (or at least this is how the kids think about the year 1949, when there were no playstations and mobile phones around).Read More »US Dollar Poised to Fall

Forex update – GBP/sterling pound this week

Interestingly enough, this week the sterling pound has dropped to its lowest level in 12 years against a broad basket of currencies amid a wave of weak economic performance indicators released. This GBP weakening kept alive a talk about a cut in interest rates by the Bank of England. Sterling’s trade weighted index hit 89,5, the lowest level since October 1996, and the pound fell close to a record low against the Euro.

In the second quarter, UK’s economy virtually grounded to a halt, whilst the houses prices fell at the fastest pace since August 1991. Even worse, the UK retail sales plunged to their lowest level in 25 years. This raised expectations of interest rates cut, which would further undermine the pound’s appeal to investors. “The recent ULK data have been universally bearish for the pound and the path of least resistance remains further weakness”, said a JP Morgan analyst.

Read More »Forex update – GBP/sterling pound this week

Forex update – the USD rallies up against other currencies

 Interestingly enough, these days the US good economic news tend to come all together, as did the bad news for several months in a row previously. First of all, the USD has gained a serious foothold against the troubled Euro, up to 0,67 of 1 euro. It has done so by steadily climbing in the last 5 days from 0,657, which is quite a performance for such a short period. Of course, this has led to huge gains (or losses) on the forex markets, but it also provided a short respiro to the troubled US economy who seemed to see no light at the tunnel end.Read More »Forex update – the USD rallies up against other currencies