Euro (€) Currency Thread

ruthha_2

I am one of the lucky ones , i get my pension paid in Euros so infact ive had nearly a 40 % rise this year:T

JasonLVC

ruthha wrote: »

I am one of the lucky ones , i get my pension paid in Euros so infact ive had nearly a 40 % rise this year:T

I get paid in Sterling, Euros and Swiss Francs so I'm hoping everything balances out in the end!.

sabretoothtigger

Its a good time to have foreign income I think. Terrible for pensioners abroad though, it must be bad times for them

Possibily some direction change ahead ? Alot of countries do not like these currency changes

Europe's single currency touched the $1.50 level versus the U.S. dollar on Wednesday, breaking through an important psychological barrier that will create added heartburn for euro-zone officials worried the strengthening currency will crimp opportunities for an export-led recovery. The euro touched $1.5001 before 10 a.m. Eastern, according to price data on FactSet. In recent action, the euro changed hands at $1.4989.

The euro climbed as U.S. stocks moved into positive territory, signaling growing risk appetite which has been a negative for the dollar. A weaker tone in global equity markets earlier in the day had kept the $1.50 level out of reach, analysts said.


The euro, which debuted in 1999 and is now shared by 16 countries, including Germany, France and Italy, last traded above $1.50 in August 2008. The euro hit an all-time high at $1.6040 versus the dollar in July 2008.

The move showed that grumbling about the euro's rise and calls for a strong dollar by European officials had little lasting effect.
Analysts say interest-rate differentials and rising risk appetite remain key factors behind the euro's strong performance. The dollar, which rallied sharply on safe-haven demand last year as the financial crisis took hold, has been under steady pressure since the global equity rally took hold in March.



The euro has rallied by around 20% versus the dollar since then. The euro has also scored highs against a trade-weighted basket of currency rivals.
The European Central Bank has left its key lending rate on hold at a record low 1%. The U.S. Federal Reserve, meanwhile, has left its key lending rate near zero.

Henri Guaino, a top aide to French President Nicolas Sarkozy on Tuesday, said the euro at $1.50 "is a disaster for European industry and the economy," Reuters reported.

http://www.marketwatch.com/story/euro-touches-150-as-angst-grows-in-euro-zone-2009-10-21?siteid=bnbh

inspector_monkfish

trading up around 1.11 at mom

waiting important Q3 GDP data at 9.30am

inspector_monkfish

slumped to 1.0990 after shocking GDP data

inspector_monkfish

collapse continues

1.0945

recession is most definitely NOT over folks

belfastgirl23

Oh dear. Definitely not going to republic of Ireland for Xmas then :rolleyes:

inspector_monkfish

1.0925 trading now

MaxTheDog_2

http://www.xe.com

inspector_monkfish

10:58 23Oct09 Sterling slide lifts dlr, euro as UK GDP shocks mkt
* Sterling slides vs dollar, euro on UK Q3 GDP shock
* UK recession casts doubt over synchronised recovery
* Euro zone data, euro/stg jump supports euro vs dollar

LONDON, Oct 23 - Sterling fell sharply on Friday,
giving broad support to both the dollar and the euro as markets
were stunned by data that showed the British economy remained
mired in recession in the third quarter.

News the British economy shrank 0.4 percent in the three
months to September eclipsed a more positive set of euro zone
economic data, and the euro and sterling striking respective
14-month and six-week highs against the dollar.

Sterling tumbled almost three cents against the dollar and
the euro jumped more than one percent. This kept the dollar's
trade-weighted index in positive territory, while the euro also
drew support from the euro zone purchasing managers indices and
the Ifo index of German business morale.

The UK data shock brought back the possibility the Bank of
England will extend its quantitative easing programme next
month. And coming after relatively dovish statements from the
Swedish and Canadian central banks this week, it cast some doubt
over the strength and synchronicity of the global recovery.

"There's no question a lot of people got wrong-footed on
that one," said Paul Mackel, senior currency strategist at HSBC
in London.

"It once again puts the focus back on the November rate
decision and whether they'll expand QE. You have to ask if
they'll seek extra insurance," he said of the BoE's Monetary
Policy Committee.

At 0940 GMT sterling was down 1.4 percent on the day at
$1.6395 <GBP=>, falling from a six-week high of $1.6693 before
the GDP data.

The euro was up 1.5 percent on the day at 91.75 pence
<EURGBP=>, on track for its biggest one-day rally in six months.

This supported the euro's 0.1 percent gains on the dollar to
$1.5040 <EUR=>. In Asian trade, the euro took out option
barriers at $1.5050 to a 14-month high of $1.5061.

The dollar index, a measure of its value against six major
trading partner currencies, was up 0.2 percent on the day at
75.23.