Forex Daily Digest's Blog – February 2010 Archive (6)

The European Central Bank has confirmed that ECB's President, Jean-Claude Trichet will leave a series of meetings and events in Sydney hosted by the Australian Central Bank earlier than planned in order to attend an informal meeting of European Union leaders in Brussels on Thursday. This month the EUR continues to fall as debt concerns surface in Greece. Last week, the EUR fell to an eight-month low below $1.37 versus the USD as worries rose over the possibility of a default by Greece as…

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Concern over a potential economic default in southern Europe relaxed a little today, which allowed the EUR to gain some lost ground against the USD. Economists have warned that monetary concerns will likely continue to affect the EUR but there are expectations that a European Union rescue effort is building. Economists believe that the EUR’s slight gain today is simply a rally following a lack of any fresh weekend news on the credit front. Uncertainty over the financial situation of Greece,…

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The USD traded higher against the EUR after European Central Bank President Jean-Claude Trichet said the economic outlook is subject to “uncertainty.” The EUR fell most against the JPY after Trichet said some governments in the region have “sharply rising” deficits and should have a “strong focus” on reforms. The pound fell against the dollar after the Bank of England kept its option open to extend its bond-purchase program.



ECB President Trichet reiterated his message that a strong… Continue

The USD continued to extend its gains against the JPY after data showed the U.S. private sector shed fewer jobs than expected in January. Copper declined in New York as the dollar erased losses against a basket of six major currencies, easing demand for the metal as an alternative investment. The ADP Employment report showed the private sector eliminating 22,000 jobs in January, the 24th decline in a row but it was the fewest number of jobs lost since 22,000 jobs were added in January… Continue

The USD fell against the EUR and other major currencies after a report portrayed pending home sales in the U.S. increasing 1% in December. Analysts anticipated a slight gain after November's fall, when the federal homebuyer tax credit was extended.



The EUR fell to a seven-month low against the USD last week as Greek bond yields increased in response to concerns about Athens' ability to meet its financing needs and to put its budget in order. The European Commission is scheduled to… Continue

The USD fell against the EUR this morning after a report showed U.S. consumer spending increased less than economists expected in December. The EUR posted a modest rebound from last week's steep plunge after data showed stronger-than-expected activity in the euro-zone manufacturing sector. The EUR dropped last week as worried grew over Greece's ability to cut its deficit from more than 12% of gross domestic product last year to less than 3% in 2012.



The GBP fell versus the USD and… Continue