Forex Trading: 06 September 2013
The European Central Bank kept its key interest rate on hold at a record low of 0.5% following an exit from a long recession in the second quarter.
Nonetheless, the euro
plunged 88 points versus the dollar to $1.3119, the lowest level since mid-July, as political tensions between the US and Russia drove up demand for safe haven currencies.
Forex Trading: 05 September 2013
Confidence that the European economic recovery is gathering pace soared yesterday on better-than-expected numbers for services and factory output.
This was the second monthly expansion in a row and pushed the euro 35 points higher to $1.3206.
However, the shared currency is already feeling the pressure ahead of the ECB interest rate meeting scheduled for later today.
Forex Trading: 04 September 2013
The euro dropped against the dollar for the fifth straight session, falling 24 points to $1.3169, on heightened expectations that the US economic rebound is gaining momentum.
Additionally, civil wars in Syria and Egypt continue to flag the dollar as the preferred safe haven asset, adding to its increasing support on the FX markets.
Later today, the release of the US Beige Book
will be closely watched for any extra clues on the possible economic outlook.
Forex Trading: 03 September 2013
The shared currency continued its slump versus the dollar, losing 20 points to $1.3195.
Despite a steep rise for the European stock markets, which was supported by better-than-expected manufacturing data in China, investors were in no mood to dump the US currency.
With the ECB due to reveal its hand once more at the interest rate meeting this Thursday, the cautious approach looks set to remain.
Forex Trading: 02 September 2013
Demand for dollar as the preferred safe haven asset for FX investors
continued to hurt the shared currency on Friday, sending the EUR/USD pair 25 points lower to $1.3215.
Once again, the political risk had the upper hand over the economic figures, with confidence in the Eurozone climbing to a two year high last month.
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By Jonathan Sudaria, 6 September 2013