The big story in the currency market today is the Euro which hit a 2 month low against the US dollar. Ratings agency Moody’s warned that the exposure of Western European banks to Eastern European loans could affect their credit ratings. Up until the global credit crisis, Eastern European nations were growing [...]

Posted in 2009 eurusd forecasts, ECB, Trichet, eastern european banks euro, ecb rate cut, eur/usd, forex blog 2 Comments »

Here is a snippet of my comments about this morning’s price action on FX360.com:
There has been a lot of action in the currency market this morning, mostly centered on the British pound and Euro.
ECB President Trichet is not buckling under pressure. After leaving interest rates unchanged at 2.00 percent, [...]

Posted in 2009 eurusd forecasts, ECB, Trichet, ecb rate cut, eur/gbp, eur/usd, forex blog 2 Comments »

The EUR/USD has reversed violently after hitting a high of 1.4719 today. I don’t think that it is a coincidence the currency’s rally stopped right at the 200-day SMA.
If you caught my Daily Currency Focus yesterday on GFTForex.com, I wrote about the consequences of a strong euro. I think its important for [...]

Posted in ECB, Forex News, Forex Technicals, Trichet, ecb rate cut, eur/usd, euro 5 Comments »

Hawkish comments from ECB member Weber is driving the EUR/USD through the roof. The currency pair is up close to 2.5 percent or more than 300 pips.
After cutting interest rates by 75bp earlier this month, ECB member Weber said today that a January rate cut is not a done deal. [...]

Posted in ECB, Fed Rate Cut, Forex News, Forex Technicals, Trichet, ecb rate cut, eur/gbp, eur/gbp record high, eur/usd, euro, forex blog, forex signals 2 Comments »

It is the morning for rate cuts with the European Central Bank, Bank of England and the Swiss National Bank all cutting interest rates. On a day when the Bank of England shocked the markets with a 150bp rate cut, the ECB and the SNB’s half point cut seemed very small in comparison.
Every major [...]

Posted in Bank of England, BoE rate cut, British Pound, ECB, Forex Technicals, Trichet, ecb rate cut, euro, forex blog No Comments »