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- Saturday, 17 October 2009 00:08:56 GMT Euro Near Major Top Against US Dollar, but Timing Anything but Clear
- Friday, 16 October 2009 23:25:32 GMT US Dollar May Be Setting Stage for Advance
- Wednesday, 14 October 2009 20:50:00 GMT Euro Rally Toward 1.50 Continues as Industrial Output Rises for Fourth Month
- Monday, 12 October 2009 20:05:09 GMT Euro Ends Week Just Above 1.4700 as German Trade Surplus Narrows
- Saturday, 10 October 2009 02:24:05 GMT US Dollar: At the Mercy of Risk Appetite...or is It?
- Friday, 09 October 2009 23:07:02 GMT Euro Could Succumb to ECB's Neutral Stance, Weak Data
- Friday, 09 October 2009 21:33:45 GMT Euro Ends Week Just Above 1.4700 as German Trade Surplus Narrows
- Friday, 09 October 2009 02:23:25 GMT German Current Account Set to Narrow in August
- Thursday, 08 October 2009 23:31:21 GMT Euro Looks like it May End up a Laggard in the Rate Game Given the ECB's Stance
- Thursday, 08 October 2009 23:30:39 GMT US Dollar and Dow on the Verge of Opposing Breaks
- Wednesday, 07 October 2009 21:15:48 GMT Euro Down as Q2 GDP Gets Revised Lower - European Central Bank Decision on Thursday
- Tuesday, 06 October 2009 17:45:40 GMT Euro US Dollar Exchange Rate Forecast
- Monday, 05 October 2009 19:42:00 GMT Euro Mostly Higher as Services PMI Signals Expansion for First Time Since May 2008
- Monday, 05 October 2009 03:52:22 GMT Euro Zone Investor Confidence to Hit 14-Month High But Markets May Not Notice
- Monday, 05 October 2009 02:38:33 GMT Euro Zone Retail Sales to Shrink for Second Month in August
- Saturday, 03 October 2009 02:35:09 GMT Euro: Will Risk Appetite Hold EURUSD Up or Will the ECB Ease a Break?
- Friday, 02 October 2009 21:38:58 GMT US Dollar Forecast for Recovery Will be Put to the Test
- Wednesday, 30 September 2009 23:15:36 GMT German Retail Sales to Shrink for Fourth Month, Outlook Remains Bleak
- Wednesday, 30 September 2009 20:07:43 GMT US Dollar Down Despite Q2 GDP Revision - Testimony from Fed Chairman Bernanke on Thursday
- Wednesday, 30 September 2009 00:28:00 GMT Euro Growth Outlook Bolstered by Retail Activity, Confidence but Market Little Impressed
The euro surged higher on Thursday to test former support at 1.2725 amidst news that the Euro-zone’s largest economy, Germany, would step up to the plate and help another member nation if they fell into a dire financial situation. During a press conference, German Finance Minister Peer Steinbrueck was asked if the country would risk seeing the Euro-zone break up rather than assist one of its 16 member-states if they were not able refinance its debt. In response, Steinbrueck said, “Could you imagine anyone would be willing to put up with this? We would have to take action.” Meanwhile, ten international banks, including Commerzbank and Unicredit, pledged $2 billion and seven Ukrainian-controlled banks pledged $1 billion in order to recapitalize their subsidiaries in Ukraine as eastern European banks face ratings downgrades and financing difficulties. Overall, these signs that various governments and financial institutions are willing to coordinate their efforts for the greater good, but ultimately, indications of distress in the financial sector will still have very negative repercussions for risk appetite. Looking ahead to Friday morning, Markit Economics is expected to report that the composite Purchasing Managers' Index (PMI) for the Euro-zone's manufacturing and services sectors edged up to 38.5 in February from 38.3. However, since the index may hold below 50 - signaling a contraction in activity - for the ninth straight month in February, it should remain clear that the recession is still deepening. This doesn't tend to be the most market-moving report for the euro, though extremely disappointing figures could exacerbate any weakness in the currency.
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