Euro (€) Currency Thread

inspector_monkfish

more buyers than sellers.........

inspector_monkfish

14:12 29Jul09 FX: Eur/Gbp: Stops tripped on clear sub-0.8600 break
13:12 GMT - Stop tripping is being blamed for the [EUR/GBP] selloff. The cross
has been dropping steadily in the last couple of hours. A UK clearer is
said to have been among the sellers to a fresh day's low of 0.8585.
German banking worries are being cited as an excuse for latest weakness,
but Fitch has only just affirmed Deutsche Bank at AA-, outlook negative.
More stops through 0.8570/75, we are told. The latest move has inspired
Cable to return to 1.64-plus levels having earlier fallen to a five-day
low of 1.6346 earlier. Intraday stops have just been tripped on the
1.6420 break.

belfastgirl23

inspector_monkfish wrote: »

14:12 29Jul09 FX: Eur/Gbp: Stops tripped on clear sub-0.8600 break
13:12 GMT - Stop tripping is being blamed for the [EUR/GBP] selloff. The cross
has been dropping steadily in the last couple of hours. A UK clearer is
said to have been among the sellers to a fresh day's low of 0.8585.
German banking worries are being cited as an excuse for latest weakness,
but Fitch has only just affirmed Deutsche Bank at AA-, outlook negative.
More stops through 0.8570/75, we are told. The latest move has inspired
Cable to return to 1.64-plus levels having earlier fallen to a five-day
low of 1.6346 earlier. Intraday stops have just been tripped on the
1.6420 break.

Thanks for the update inspector monkfish. Although i must admit it feels to me like something that has been translated by babelfish Will wait and see what the figures look like tomorrow to figure out what it means...

inspector_monkfish

07:24 30Jul09 EUR/GBP: Weighed Down by Forecast-Busting Nationwide Data

[06:22 EUR/GBP: Weighed Down by Forecast-Busting Nationwide Data] London, July 30.

EUR/GBP is on the back-foot in early European trade--courtesy of much
better-than-expected Nationwide UK house price data, with 0.8556 marking the
intra-day low-to-date. 0.8565-0.8584 was today"s Asian session range.
UK house prices have risen by 1.3% this month, according to the Nationwide. A much more modest 0.2% increase was forecast. Annualized UK house price deflation has also moderated to 6.2%, according to the Nationwide.

0.8551 was yesterday"s 15-day low. This was plumbed with the aid of UK
clearer and system account selling, plus tripped sell stops below 0.8600.
Yesterday"s high was 0.8653 (posted during the European morning). 0.8686 was
Monday"s peak (scaled on the back of Middle Eastern demand). Option barriers
reportedly reside at 0.8700.

inspector_monkfish

1.1690 trading now

inspector_monkfish

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moneypooh

BBC showing 1.1714 now

inspector_monkfish

moneypooh wrote: »

BBC showing 1.1714 now

yep, thats about right

showing 1.1713/17 on my screens at mom

inspector_monkfish

1.1730 now

verona_2

I think I might have mentioned this before so apologies if I have. What I can't understand is that when we have positive/negative data from the UK it has an upward or downward effect on the Euro/Sterling rate. But yet when the Eurozone has negative news data out it has little effect on the strength of Sterling.