April 2013 UK Forex and Foreign Exchange News Archive
Archived Daily Wealth Management News...
Euro drops against the dollar
24 Apr at 9 AM
News Item Link: Euro drops against the dollar
The euro has ended at its lowest level against the US dollar in two weeks as weak data from Germany indicates that recovery in the eurozone remains sluggish. The news also means the European Central Bank could move ahead with an interest rate cut.
At its lowest point the euro was trading at $1.2971 and was last at $1.2998. Data for April...
Euro rallies as gold prices stabilise
17 Apr at 9 AM
News Item Link: Euro rallies as gold prices stabilise
The yen has dropped against the euro and the US dollar as investor anxiety eased following the recent dramatic fall in gold prices. A fall in US factory output along with lower consumer prices has fuelled predictions that the US Federal Reserve will continue with its policy of monetary stimulus.
Forex.com senior currency strategist, Eric...
Yen drops against US dollar
10 Apr at 9 AM
News Item Link: Yen drops against US dollar
The yen has ended near its lowest level in four years against the US dollar after the Bank of Japan announced last week that it will be implementing an ambitious monetary policy in order to boost the economy. The dollar is currently hovering around the 99 yen mark after earlier moving as high as 99.67 yen.
According to some analysts there...
Dollar inches higher against yen and euro
3 Apr at 9 AM
News Item Link: Dollar inches higher against yen and euro
The yen has dipped slightly against the US dollar as has the euro ahead of policy meetings at both the European Central Bank and the Bank of Japan. The dollar is currently trading at 93.50 yen, a rise of 0.1 per cent.
New governor of the BoJ, Haruhiko Kuroda, is expected to push forward with stimulus plans although the bar has been set...
Euro loses ground on Canadian dollar
30 Apr at 2 PM
News Item Link: Euro loses ground on Canadian dollar
The euro has continued its fall on the Canadian dollar, as the single currency accumulated a 0.07 per cent daily loss, reports Fxstreet.com.
Canada is set to announce its GDP and raw materials price index later today. It is widely anticipated that the country’s GDP month-on-month growth will be at zero per cent, while there should be an...
US economy growth falls back
28 Apr at 11 AM
News Item Link: US economy growth falls back
Economic growth in the US slowed to an annualised 2.2 per cent during the first quarter, from three per cent in the last three months of 2011, reports the BBC.
The figure was less than the 2.5 per cent which economists had forecast and equates to 0.5 per cent growth quarter on quarter. The US Commerce Department stated that gross domestic...
Federal Reserve increases 2012 growth targets
26 Apr at 2 PM
News Item Link: Federal Reserve increases 2012 growth targets
Interest rate setters from the Federal Reserve have increased their forecasts for economic growth in the US this year, reports the BBC.
They are anticipating growth between 2.4 per cent and 2.9 per cent, a rise from January’s projection of between 2.2 per cent and 2.7 per cent. In addition, they have lowered their expectation for the...
Apple results lead to jump in global shares
25 Apr at 6 PM
News Item Link: Apple results lead to jump in global shares
Global shares rose on Wednesday, boosted by better-than-anticipated earnings from Apple Inc and suggestions of improved sentiment in the struggling eurozone debt markets, reports Reuters.
The dollar hit three-week lows on a range of currencies ahead of the Federal Reserve’s statement on the US’s monetary policy later in the day....
Australian inflation continues to ease
24 Apr at 10 AM
News Item Link: Australian inflation continues to ease
Australian inflation has slowed at a quicker rate than anticipated, boosting hopes of a rate cut in May, reports the BBC.
Consumer prices increased by 0.1 per cent during the opening three months of 2012 in comparison with the previous quarter, revealed the statistical office. The annual price growth rate was 1.6 per cent, way below most...
Wall Street falls 1% on Europe troubles
23 Apr at 6 PM
News Item Link: Wall Street falls 1% on Europe troubles
Stocks fell by over one per cent today as renewed concerns about Europe’s economy and the debt crisis in the region spurred profit-taking, reports Reuters.
In addition, Wal-Mart weighed heavily on the Dow following a report that the retailer stymied a probe into allegations of bribery. The eurozone’s business nosedive has increased at...
Investors seek safety amid eurozone debt worries
20 Apr at 2 PM
News Item Link: Investors seek safety amid eurozone debt worries
Ten-year German bond yields spiralled to record lows earlier today and riskier assets faced pressure on mounting concerns over the debt crisis in the eurozone and uncertainty about global growth, reports Reuters.
This weekend sees a potentially turbulent International Monetary Fund meeting, which is aiming to increase its funds so as to...
Chinese economy starts to pick up
19 Apr at 6 PM
News Item Link: Chinese economy starts to pick up
The Chinese economy is beginning to pick up again after having reported its poorest quarterly growth since the end of the financial crisis in the opening three months of this year, revealed a Reuters poll.
Economists forecast that the second biggest economy in the world will grow by 8.4 per cent in 2012, unchanged from expectations in the...
Euro loses ground on dollar
18 Apr at 4 PM
News Item Link: Euro loses ground on dollar
The euro dropped against the dollar today following French President Nicolas Sarkozy’s announcement that a strong euro impacted exporters, reports Reuters.
The single currency looked set to remain pressured with investors still cautious about Spain’s fiscal problems and eurozone debt contagion as a whole. Traders cited Swiss investors...
European shares recover
17 Apr at 4 PM
News Item Link: European shares recover
European stocks increased on Tuesday, as an upbeat economic sentiment reading from Germany and sufficient demand at a government debt auction in Spain helped lower the risk aversion and attract investors back to the equity market following a month-long sell-off, reports Reuters.
However, technical strategists said it was too early to say...
Spanish bond yields rise above 6%
16 Apr at 6 PM
News Item Link: Spanish bond yields rise above 6%
Spain’s cost of borrowing has gone above six per cent, increasing bailout prospects, according to the BBC.
The yield on the country’s 10-year bonds hit 6.1 per cent in the build up to debt auctions on Tuesday and Thursday which could become expensive for Spain. The country’s cost of borrowing has risen steadily during the last four...
China economic growth falls
13 Apr at 2 PM
News Item Link: China economic growth falls
China’s economy, the second-largest in the world, has grown at its slowest rate for nearly three years, reports the BBC.
There was an annual increase rate of 8.1 per cent in gross domestic product in the first quarter, a fall from 8.9 per cent during the last quarter of 2011. That is below what many analysts had forecast, with the...
Yen dips after ECB calms markets
12 Apr at 12 PM
News Item Link: Yen dips after ECB calms markets
The safe-haven yen fell from multi-week peaks versus major currencies today after an official from the European Central Bank hinted that more bond-buying was a possibility, although an approaching Italian debt sale posed additional risks to jittery markets, reports Reuters.
The Australian dollar climbed by over half a per cent on the...
European markets rebound after heavy losses
11 Apr at 4 PM
News Item Link: European markets rebound after heavy losses
European markets edged up on Wednesday after making recovering slightly from losses on Tuesday, reports the BBC.
By lunchtime, the French and German indexes were up nearly 1.5 per cent, while the FTSE 100 in London was up by 0.6 per cent. Investors are still concerned about Spain, which is faced with borrowing costs of almost six per cent,...
Euro steady against dollar
10 Apr at 4 PM
News Item Link: Euro steady against dollar
The euro remained largely steady versus the dollar today as the market gets ready for China’s trade data and the bank of Japan’s announcement following its two-day monetary policy meeting, reports Reuters.
The euro held on to $1.3111, having climbed from its four-week low of $1.30330 on Monday but stopped just short of resistance at...
Markets down on Europe and US economy fears
9 Apr at 6 PM
News Item Link: Markets down on Europe and US economy fears
Stock markets have fallen on fears about the European and US economies, reports the BBC.
Shares fell in Europe following the disappointing Spanish bond sale. French and German shares dropped by nearly three per cent. In addition, the European Central Bank said that it would not take emergency measures to tackle the debt crisis in the...
Euro slides as bonds go up on eurozone concerns
6 Apr at 4 PM
News Item Link: Euro slides as bonds go up on eurozone concerns
The euro dropped to a three-week low versus the dollar, while bonds edged higher as Spain’s debt burden increased fears of further problems for economies in the eurozone and lowered appetite for riskier assets, reports Reuters.
Global stocks dipped, while gold and energy prices climbed. Wednesday’s poor Spanish bond auction added to...
US Federal Reserve remains concerned over growth
5 Apr at 9 AM
News Item Link: US Federal Reserve remains concerned over growth
The US central bank has admitted concerns that the employment gains seen recently could dissipate if growth is unable to pick up, reports the BBC.
The minutes of the Federal Reserve’s March meeting revealed that some members within the organisation perceived a non-negligible risk that gains in employment of late may diminish as 2012...
Euro falls due to Spain auction
4 Apr at 6 PM
News Item Link: Euro falls due to Spain auction
The euro dropped to a three-week low versus the dollar today after the president of the European Central Bank, Mario Draghi, revealed that the economic outlook for the eurozone is subject to downside risks linked to commodity prices and the debt crisis, reports Reuters.
The single currency was already pressurised after Spain’s borrowing...
Euro changes little against dollar before Fed minutes
3 Apr at 6 PM
News Item Link: Euro changes little against dollar before Fed minutes
There was little movement in the dollar versus the euro in the run-up to the central bank’s release of its minutes on Tuesday, as investors were reluctant to place big bets before the meeting of the European Central Bank later in the week, reports Reuters.
Trading was referred to as quiet in the build-up to Easter, as the market focuses...
Spain to cut 27bn euros from budget this year
2 Apr at 6 PM
News Item Link: Spain to cut 27bn euros from budget this year
Spain is reducing its budget by 27bn euros (£22.5bn) this year in what is among the toughest austerity drives it has ever taken, reports the BBC.
Changes will include cutting departmental budgets by 16.9 per cent and freezing the salaries of public sector workers. The government claims it will be able to raise 12.3bn euros over the next...