for Android
for iPhone/iPad

for Android
for iPhone/iPad

Ouvrir Compte Réel Compte de Démo Gratuit
Forex Debit Card, easy access to your funds
Share |
Daily FX News on Your Mobile


Market review for 14 - 18.11, 2011 (47/2011)

During the past week, the negative economic statistics and general uncertainty in the EU provided a lot of pressure on European currencies (EUR and GBP).

 At the beginning of the week, the Euro was under pressure against the major currencies because of the results of the Spanish and French government bonds’ auctions. Furthermore, another negative signal to market participants had the auction on Tuesday on 10-year-old Italian government bonds, the yield of which exceeded the critical level of 7%.

Appointment of the new Prime Minister's Mario Monti did not give confidence to market participants. The pressure on Euro increased as a result of the reinforced concerns that Italy and Greece would be able to handle the existing debt problems.

 The statistics, which came from Germany was also negative - the released publication of the indices of the business environment of the ZEW institute in Germany and in the EU as a whole. The values of both indicators for November were significantly worse than expected: Index of economic expectations fell compared to October by 7.9 points to -59.1 points and ZEW in November dropped to 34.2 points versus forecasted 32.0 points. The EUR/USD pair had a definite down day setting new lows at $1.3512 during the European trading session.

The GBP/USD pair got hammered in the beginning of the week and fell to the region of $1.5920. The reason for that was the statement of Charter institute of personnel and development which stated that its index of hire of Great Britain fell to - 3 in the fourth quarter versus - 1 in the previous quarter. The new minimums were set at the lows of  $1.5812 area. 

The pound also dropped after the released statistics which showed unemployment rate growth in Great Britain. In particular, in October the number increased by 5.3 thousands when the forecast was at 21.0.The British pound weakened against the dollar after the Bank of England lowered forecasts for economic growth and inflation, as expected, signaling the introduction of a new fiscal stimulus in the coming months. 

But after the publication of the report on retail sales in the UK, the British Pound showed an increase against the US dollar and strengthened to $1.5800 area. The retail sales grew in October and exceeded the expectations (+0.9 % y/y vs. -0.2 %). 

The Euro slightly recovered against the U.S. dollar after falling to a new 5 - week low at $1.3422 in early Asian trading. Furthermore, the Euro was under pressure against the major currencies because of the results of the Spanish and French government bonds’ auctions. The EUR /USD pair traded today in the $1.3422 - $1.3537 range.

The Swiss franc dropped against the U.S. Dollar after the release of statistics showing that the producer and import price index in October fell by 1.8% over the previous year.

According to the released information, the interest rate in Japan has been left without changes at the previous level of 0,10%. During the whole week the USD/JPY pair traded in the range of Y76,50 - Y77,20.

06:42 GMD   Bid Ask
GBPUSD 1.47052 1.47083
USDCHF 0.98953 0.9898
AUDUSD 0.72004 0.7203
NZDUSD 0.67081 0.67107
EURJPY 122.602 122.632
GBPJPY 161.316 161.356
XAUUSD 1228.65 1229.15
Would you like to have free live currency rates on your website?

Actualités et promotions

22/05/15 European Economics Preview: German Ifo Business Confidence Data Due

Business confidence and detailed quarterly national accounts from Germany and...

Read more »

Free daily FX news

Deposit funds


We have two credit card payment options. If paying via Option 1 was unsuccessful, please re-submit the form using Option 2 in the menu

Je comprends que le n'accepte pas les paiements de tiers. Le tarnsfer peut être envoyé à partir d'un compte sous le même nom que mon compte de négociation chez