Euro (€) Currency Thread

inspector_monkfish

From a Market analyser:


09:06 25Mar09 (DEM) Mar Ifo German hits new all-time low

(DEM) The German Ifo business confidence indicator hits a new all-time low in
Mar at 82.1, slightly below market consensus of 82.2, following a 82.6 print in
Feb. According to the Ifo Institute, German firms do not believe economic
bottom has been reached. To us this comes as no surprise, as we do not see any major turn around in the German economy until mid-2010. Our central scenario is for the Ifo to hit new all-time low in coming months.

dealsearcher

So because the IFO results were pretty much inline with expectations the euro has now bounced back to 1.084. Doesn't seem to matter that the figures are so bad.

It seems that the asian traders are happy to buy sterling but the european traders are promoting the euro during the european trading day.

inspector_monkfish

inspector_monkfish wrote: »

2mins before Ifo figures...

GBP/EUR 1.0875
EUR/USD 1.3447
GBP/USD 1.4630

lets see how they are affected.....

20mins after the release...

GBP/EUR 1.0840 (GBP suffers/EUR gains)
EUR/USD 1.3475 (EUR gains/USD suffers)
GBP/USD 1.4595 (GBP suffers/USD gains)

so, whatever way you look at it, GBP was the biggest loser there - typical !! :rotfl:

inspector_monkfish

dealsearcher wrote: »

So because the IFO results were pretty much inline with expectations the euro has now bounced back to 1.084. Doesn't seem to matter that the figures are so bad.

It seems that the asian traders are happy to buy sterling but the european traders are promoting the euro during the european trading day.

yep - i think its called 'talking your own book'

harryhound

Do you think the Euro's stability might be helped by the educated low cost labour on its Eastern border. The UK might get away with the Swiss trick of exporting its unemployed but I think a lot might qualify for UK benefits by now.
How well placed are UK firms for exploiting Eastern Europe? Some Eastern Europeans seem to have economies a bit like ours:eek:.
Time will tell.

dealsearcher

Well the French (Renault) were talking about pulling out of Slovenia. Oh I'm sorry! No they weren't.

inspector_monkfish

2mins before Retail sales data..

GBP/EUR 1.0790
GBP/USD 1.4590

inspector_monkfish

[10:59 EUR/GBP: Buoyed by "Failed" DMO Gilt Auction] March 25. EUR/GBP has soared
to a fresh intra-day high of 0.9272 on the back of dreadful cover ratio of 0.93
for this morning"s GBP 1.75bn sale of a 4.25% 2049 Gilt by the UK Debt Management
Office (<TGM17783>). The cross has also been buoyed by talk that the size of the
earlier mentioned fix-related EUR buy order is E1bn. The latest mutter is that
the order must be completed by the 13:15GMT ECB fix order.
March"s CBI retail sales balance is due at 11:00GMT. A fall to minus 35, from
minus 25 in February, is forecast.

- - - - - - -

Retail sales came in at -44 :eek:

inspector_monkfish

inspector_monkfish wrote: »

2mins before Retail sales data..

GBP/EUR 1.0790
GBP/USD 1.4590

GBP/EUR 1.0795 ???
GBP/USD 1.4565 :eek:

loveunit

1.09 Euro / GBP yesterday looked really promising, I'm still waiting on changing a large sum to buy a house abroad.. my broker called all optimistic, telling me that 1.12 should be possible in the next week.. was he way off the mark?