Good News in Europe?

13-01-2012

The Euro was up yesterday against most major currencies as the European Central Bank announced that a credit crisis has been averted. On the heels of this somewhat suspicious announcement, Italy will be conducting a debt sale, scheduled to take place sometime today. The announcement by the ECB reenergized the Euro somewhat, with the 17 nation currency up against the greenback, trading at 1.2864. The numbers don’t match the positive attitude of European leaders however, with several EU members still on the verge of bankruptcy.

Euro Up
The single currency is up against other currencies today, with the EUR/USD trading at 1.2859, an increase of 0.335%. The EUR/CHF and the EUR/JPY are also up this morning, trading at 1.2121 and 98.71. The American Dollar is heading in the opposite direction so far in trading today, with the greenback down against both the Swiss Franc and the Japanese Yen. The Italian debt sale set to take place today could be a major influence over the performance of the Euro going into the weekend.

Trade Balance reports today
Trade Balance reports from the United States and Canada will be released today at 1:30pm GMT. The Prelim UoM Consumer Sentiment will also be released today in the U.S. The Trade Balance report shows the difference in value between imported and exported goods. The forecast for the United States is minus 43.5B USD, while Canada is projected to be slightly on the plus side with a 0.7B USD. The PPI Input will be released today in the UK at 9:30am GMT.

Wall Street takes cue from ECB
U.S. Stocks were on the rise yesterday, in part because of promising news from the European Central Bank and the fact that both the ECB and the Bank of England did not raise interest rates yesterday. At the end of trading yesterday the Dow Jones Industrial was up 0.17% with the S&P 500 and the Nasdaq Composite up as well by 0.31% and 0.51% respectively. Major indices are up this morning in trading thus far, with a notable exception being the UK 100, down 0.15% at 5662.42.

Mixed results for Commodities
Both gold and silver are down this morning, with gold experiencing a slight decline of 0.03% and trading at 1647.15. Silver is down by 0.31% and trading at 30.030. Oil is headed in the opposite direction, with Crude Oil up by 0.86% and trading at 99.95 Dollar per barrel.

Trends Reverse…Slightly 17-05-2012

The Euro is up slightly against the greenback during early European trading on Thursday, but remains far below levels from two weeks ago. The EUR/USD is up 0.18% and trading at 1.2739 this morning, rebounding from a 0.10% decline during yesterday’s trading in the United States that saw the pair close the session at 1.2717. The Dollar is [...]

The Collapse of Oil Prices Continues 16-05-2012

Early trading on Wednesday saw a continuing trend of investor concern towards the Greek political crisis and a rush to the greenback. With the chance of Greece leaving the Eurozone more likely with each passing day, the Euro continues to struggle against the Dollar. The EUR/USD is down 0.11% in early European trading this morning, at [...]

European Uncertainty 15-05-2012

The U.S. Dollar was up against most major currencies on Monday, as investor uncertainty regarding the Greek political crisis continued to push investors towards the safe haven of the greenback. The Euro is up slightly at the beginning of the European trading session on Tuesday by 0.05%, sitting at 1.2828. The Euro has declines sharply [...]

Euro Falls Once Again 14-05-2012

Political uncertainty in Greece and mass protests in Spain has pushed the EUR/USD down 0.15% to 1.2897 during late Asian trading on Monday. In fact, the greenback was either steady or up against most major currencies as traders searched for a temporary safe haven in order to dodge uncertainty in the markets. The increased value of the [...]

Time Is Ticking For Greece 11-05-2012

The Euro is back on the decline during Asian trading on Friday, with the EUR/USD down 0.14% and trading at 1.2920. The pair continues to hover at around 1.3000 after the single currency took a major hit due to fears surrounding political instability in Greece and future fiscal policy in France. The pound is also down against the greenback [...]

Euro Declines Stop 10-05-2012

The Euro has rebounded slightly against the USD during Asian trading on Thursday after posting huge losses over the last several days. The EUR/USD is up 0.15% and trading at 1.2946. The majority of major currencies are also up against the greenback this morning, including the Pound, Swiss Franc and Australian Dollar. The Aussie posted [...]

Euro Decline Continues 09-05-2012

The beginning of trading on Wednesday continued the negative trend of the Euro and oil. The Euro continues to decline sharply, down 0.24% and trading at 1.2975. The EUR/USD broke through the 1.3000 barrier earlier this week after European elections in France and Greece cast a shadow over the future of the single currency. The Euro is also [...]

Declines Continue for Oil and Euro 08-05-2012

The Euro is down once again during late Asian trading on Monday, after suffering huge losses yesterday. The EUR/USD is down 0.15% and trading at 1.3032. The single currency did manage to recover somewhat during late trading yesterday, rebounding from a decline of 0.81% at the end of the Asian trading session. Investors continue to show [...]

Future of the Euro in Doubt? 07-05-2012

Two key election results in the European Union are threatening to undo the single currency. Francois Hollande is the new president of France, after defeating Nicolas Sarkozy by a small margin in the second round of elections. Hollande is the first socialist president in France in the last seventeen years. Many voters in France expressed [...]

Oil Prices Plummet 04-05-2012

Oil prices plummeted during the U.S. trading session on Thursday after European Central Bank President Mario Draghi expressed concern over future growth of the EU economy. The price of crude was down 2.48% and trading at 102.61 USD per barrel. Oil was also hit hard because Draghi claimed that ECB was not planning to increase liquidity in [...]

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