Compare Money Transfer News - October 2010
GERMAN BOND PLANS CAUSES EURO AGITATION
(October 29, 2010)The dollar lost position yesterday for the succeeding conference in a line up as arguments over the amount of the forthcoming QE parcel destabilized US bond produce. The greenback was not helped also nevertheless.
DOLLAR RISES AS TRADERS MOVE TOWARDS EUROPE
(October 28, 2010)The Dollar went on yesterday with its race of good form lately, boosting GBPUSD and EURUSD all through the session. The refreshed strength of dollar is basically an output of the confusion in market regarding the quantitative easing by the FED on next Wednesday. Some analysts have suggested a direct thrust of $500bn, while some are advising $100bn in monthly installments for 6 or so months; both the ways there is a confusion.
STERLING RISES AGAINST THE EURO AND THE US DOLLAR
(October 27, 2010)The Sterling rose above the Euro and the Dollar after an unexpected positive UK GDP data for the third quarter and a welcome vote of confidence for the UK from crediting rating agency S & P. GDP emergence came in at 0.8% in the third quarter which was against what was expected of 0.4%, promoted by construction activity that was more powerful than what was expected. Sterling reached a peak of 1.1453/£1 – against the Monday depression of 1.1184/£1- after the positive data cooled theories of further Quantitative Easing in England from the Bank of England. Against US dollar, sterling hit $1.5894/£1. Emotions towards UK further received a lift when the credit rating agency S&P upgraded outlook for UK from negative to stable after stating that government has made sufficient efforts towards cutting the deficit.
GDP big for GBP
(October 26, 2010)Yet again, today turns out to be another significant day for the Pound. The first evaluation of 3rd quarter GDP is to take place at 9:30am today. The market estimation for this measure is to slide down from its present 1.2% to 0.4% as the summer’s positivity is displaced by the winter’s awareness.
G20 come up with an accord
(October 25, 2010)As against what was assumed, it seems as if the finance ministers of the G20 have finally come up with an agreement over volatility in the currency markets and the discarding of competitive devaluation. Even though, the evidence will be in whether the countries are seen accepting and following these measures.
Currency Report
(October 22, 2010)The sterling weakened to a 6 months low against the Euro. The prime concern of the investors is now that the Bank of England would look to push in some stimulus through further quantitative easing so as to ensure faster recovery. The retail sales have dropped in the second consecutive month, which left many feeling that the recovery has peaked. Investors are deeply worried about UK’s prospects. David Cameron and George Osborne defended spending cuts saying, the cuts will have a negative effect on the growth prospects.
Sterling Gains Against Us Dollar
(October 21, 2010)The Sterling gained against the US dollar, but it fell against the Euro. The Bank of England brought forward one member voting for more quantitative easing. A hardcore approach was made towards cutting, spending and fighting the budget deficit. Along with it, various plans regarding welfare state, increasing retirement age and unemployment were made. Sterling reached an all time high of $1.5875/£1, hence gaining against the US dollar.
The Pound Weakened A Further 1% Against The U.S. Dollar
(October 20, 2010)The foreign exchange value of the Pound fallen by another 1% to a low of $1.5711 as opposed to the US Dollar. Further losses are expected. The investors hence speculate that the Bank of England will hence put forth the point that the policy makers are going a step further towards quantitative easing.
The Sinking Of The Us Job Market
(October 11, 2010)The US Dollar remained in its state of depression as the monthly jobs numbering out of the US continued to portray an economy with a horrible labor market. Payrolls decreased by 95,000 jobs, more than 100,000 than estimated. These were numbers predicted by government census workers. Though the good thing about the loss of these jobs is the fact that these jobs were temporary themselves. Had a similar decrease been seen in the Private payrolls number, it would be a more serious affair.
The Fall Of Sterling On House Prices
(October 8, 2010)The Bank Of England has become the focus point of many factors which are rising in importance today. The chances of quantitative easing are on the rise and the recent economic slips which are on the move to make it possible. These are the moves that are being taken to make this endeavor highly successful. A change in policy from the MPC can be seen during this last month mainly because two important reasons. Details of the upcoming Quarterly Inflation Report due in early November was believed to keep the matter on hold for a long time. This is the same case with the foreign exchange market.