- US Dollar Euro (USDEUR) exchange rate currently trading at: 1 USD = 0.7430 EUR (+0.00055, +0.074%)

The euro extended gains against the dollar on Friday, nearing the $1.35 level, but couldn’t muster strength to rally above that level. The price dropped back this morning to trade around $1.3451

US Dollar Euro (USDEUR) Exchange Rate

Although no specific actions were decided upon at the Fed’s recent meeting, the fears instilled by the meeting were enough to affect markets this morning, pushing the dollar lower across the board but particularly lower against the euro. Housing data also came in below expectation, and we expect the dollar to remain under heavy pressure, especially as the Fed could take monetary easing measures soon.

Today’s other Forex news:

British Pound US Dollar (GBPUSD)
The pound closed the week with a mere 1.5 cent-gain against the dollar due to weaknesses perceived in the dollar. After the Fed’s latest meeting, where further monetary stimulus was proposed, market sentiment toward the dollar turned markedly more sour, and the dollar lost ground across the board.

Pressure against the dollar increased on Friday heading into the weekend as data from the US housing sector came in below expectations, unchanged versus the slight increase that analysts were expected. Going forward, the dollar is in a tough position, as positive economic news will lure investors away from the dollar, and negative news will send the dollar lower still.

British Pound Euro (GBPEUR)
The pound moved lower against the Euro on Friday as positive news surfaced on Germany’s economy. The news came from a German index showing business sentiment had increased this month. Given the economic woes in the eurozone, analysts had forecast a decline in this index, so the positive surprise lifted the currency considerably, but those gains have now started to vanish.

We will continue to monitor the US Dollar Euro (USDEUR) exchange rate throughout the day.

- US Dollar Euro (USDEUR) exchange rate currently trading at: 1 USD = 0.7449 EUR (-0.00503, -0.670%)

A slew of weak figures from the eurozone yesterday provided the impetus for investors to begin profit-taking on the euro’s recent gains, driving the currency lower. Reports showed that Germany’s manufacturing and service sectors grew more slowly than expected in September, pointing to what will likely be a weaker third quarter.

US Dollar Euro (USDEUR) Exchange Rate

The figures dropped the euro back below $1.34 and selling continued after a report showed that Ireland’s economy shrank by 1.2% in the three month period ending in June due to banking weaknesses in the country. Surprisingly, the number of Americans seeking unemployment benefits rose unexpectedly, while existing home sales dropped to the second-lowest level on record for the US. Looking ahead, it’s unlikely the euro will climb above $1.34 if the news environment stays as it has been for this pair.

Today’s other Forex news:

British Pound US Dollar (GBPUSD)
The pound climbed higher against the US dollar yesterday, but is finding resistance at $1.57. There is quite a bit of speculation right now that the UK could be facing another period of recession, which is putting downward pressure on the pound despite weaknesses that are also apparent in the greenback.

British Pound Euro (GBPEUR)
Sterling saw heavy selling in the early part of the week but regained some ground yesterday against the euro as disappointing news stirred investor concerns about weakness in the eurozone. As weaker-than-forecast figures came to light concerning the strength of European economies. Ireland reported economic shrinking of 1.2 percent in the second quarter instead of posting modest growth as expect.

We will continue to monitor the US Dollar Euro (USDEUR) exchange rate throughout the day.

- US Dollar Euro (USDEUR) exchange rate currently trading at: 1 USD = 0.7605 EUR (-0.00401, -0.525%)

Concerns of financial strength in the eurozone were alleviated yesterday as the Spanish bond auction saw strong demand, reinforcing confidence in Europe.

Although deep-seated financial problems remain on the outskirts of the eurozone (namely Greece, which is still heavily dependent on financial aid from the ECB and IMF), solid demand at the Spanish debt auction helped alleviate some of the fears for the region.

US Dollar Euro (USDEUR) Exchange Rate

The Swiss National Bank has predicted a marked slowdown in economic growth, which also lifted the euro and precipitated selling in the franc. During afternoon trading yesterday, the euro extended gains against the dollar after the US wholesale prices reportedly rose above forecasts in August and jobless claims were down, boosting investor appetite for risk. The euro is now at $1.31 with bearish sentiment remaining directed toward the US.

Today’s other Forex news:

British Pound US Dollar (GBPUSD)
Broad economic concerns hurt this pair in trading yesterday, with sterling recovering from an early drop to post a slight gain for the day.

The pound dropped sharply as the market reacted to data that showed UK retail sales fell in August even though experts had forecast modest increases for retail sales. The pound recovered quickly though to peak back above $1.56. The market remains cautious in light of the possibility that the Fed could extend monetary stimulus measures in November.

British Pound Euro (GBPEUR)
Disappointing data from the UK took the pound off the good foot yesterday and the price slipped back below 1.20.

Sterling took a hit early in trading yesterday, reaching a seven-week low as data came out, showing British retail sales unexpectedly fell last month. Investors’ fears are heightening that economic growth is slowing. While the retail sales fell by only 0.5% since July, this marks the first decline since January and bodes ill for the economy. Other purchases were down too. Food, fuel, clothing, and household good sales all posted slow declines in August as consumers brace for a tough year end.

We will continue to monitor the US Dollar Euro (USDEUR) exchange rate throughout the day.

- US Dollar Euro (USDEUR) exchange rate currently trading at: 1 USD = 0.7715 EUR (+0.00344, +0.448%)

Off to a slow start this morning, the pound took a jump higher as news came out suggesting the Fed may use monetary policy to protect a US economic recovery.

Sterling enjoyed a boost in early trading today as UK inflation data showed inflation was still slightly over target, which raised concerns that the Bank of England would not relax monetary policy in the short term.

US Dollar Euro (USDEUR) Exchange Rate

Later in the day yesterday, data was released showing that August marked the best month for US retail sales in the past five months, which brightened investors spirits slightly.

But the real news was a Wall Street Journal article that suggested the US Federal Reserve may ease its monetary policy to protect a fragile US economic recovery. Investors reacted by broadly selling off the greenback, enabling the pound to trend higher, above $1.55 to a near three-week high.

Today’s other Forex news:

British Pound US Dollar (GBPUSD)
The euro had a good day in trading yesterday, reaching $1.30 for the first time since August 11th as the US dollar posted big losses.

The dollar fell heavily in the afternoon session on fear that the Fed may announce new monetary measures in the upcoming months. Fears stemmed from a Wall Street Journal that referenced economists at Goldman Sachs who expect the Fed to take measures to support a weak economy.

British Pound Euro (GBPEUR)
In a steady downtrend, the pound slipped lower today against the euro as the euro enjoys a strong rally against the dollar. Sterling slipped lower overall today to closed the day near 1.1950, amid the euro’s rally against the dollar.

The UK’s headline consumer price inflation for August came out yesterday, showing inflation slightly over target, which boosted currencies slightly, though the pound ended the day lower.

We will continue to monitor the US Dollar Euro (USDEUR) exchange rate throughout the day.

- US Dollar Euro (USDEUR) exchange rate currently trading at: 1 USD = 0.7812 EUR (-0.00510, -0.648%)

The euro traded mostly below $1.27 today and will likely see only modest gains in the near term as eurozone debt concerns take center stage.

Financial woes in the eurozone are requiring that eurozone governments raise €80bn in September (compared to €43bn in August) in order to keep an economic recovery on track. These worries are likely to keep downward pressure on any major euro gains, though the new banking rules have helped the single currency somewhat.

US Dollar Euro (USDEUR) Exchange Rate

Risk appetite will increase, thanks to new Basel III banking rules. Although it will take many years for the rules to be fully phased in, with certain of them unlikely to be enforced before 2019, the rules do mark a systematic attempt to stabilize banking practices, all the better for investors.

Today’s other Forex news:

British Pound US Dollar (GBPUSD)
Sterling continued its downward spiral against the US dollar on Friday as the outlook for the UK economy shows little hope in the near-term for a rally.

The pound lost ground against the US dollar on Friday as the outlook for the UK economy shows little hope in the near-term for a rally, but regain much of the morning’s losses to end the day with little change. The UK’s budget cuts were in focus at the end of last week as finance minister George Osborne announced plans to cut extra £4bn welfare from the budget on top of plans to cut the annual budget by £11bn.

British Pound Euro (GBPEUR)
The Euro lost ground against the dollar early on Friday, but regain most of its losses to close virtually unchanged against the euro.

Sterling had been getting support from corporate dividend demand on Friday but gains were limited as many investors were chose to lock in profits as the weekend approached. The pound was also pressured downward as weaker-than-expected PPI data released Friday increased the likelihood of the BoE keeping interest rates at the current rate until well into 2011.

We will continue to monitor the US Dollar Euro (USDEUR) exchange rate throughout the day.

- US Dollar Euro (USDEUR) exchange rate currently trading at: 1 GBP = 1.2142 EUR (-0.00067, -0.055%)

The pound mimicked the euro’s slide against the US dollar yesterday, ending the day at $1.54.

The pound saw downward pressure yesterday as weakness in the UK’s trade sector came into focus. Sterling hit an intra-day low after figures showed the UK’s goods trade deficit unexpectedly ballooned from from £7.5 billion in June to £8.7bn in July, its largest growth level ever.

US Dollar Euro (USDEUR) Exchange Rate

Thought yesterday morning was the pound slipping against the US dollar, the afternoon held positive surprises for the pound when news about US jobless figures and stronger than expected balance of trade buoyed the currency back into positive territory, though gains at this point could be quickly erased by more negative news.

Today’s other Forex news:

British Pound US Dollar (GBPUSD)
The euro struggled to make gains yesterday against the US dollar following comments from an ECB member’s statement.

The euro struggled to make gains yesterday against the US dollar. Though the stock market was on the rise, the euro faced pressure after comments from an ECB member Juergen Stark said that certain German banks will need to raise more capital or risk future financial woes.

British Pound Euro (GBPEUR)
The pound slipped back against the euro in early trading yesterday, but recouped its losses to close virtually unchanged for the day above 1.21.

The pound fell back in early trading yesterday on negative news concerning the UK’s goods trade deficit, but recouped its losses to close virtually unchanged for the day above 1.21, although slow growth in the UK economy may be ahead.

We will continue to monitor the US Dollar Euro (USDEUR) exchange rate throughout the day.

- US Dollar Euro (USDEUR) exchange rate currently trading at: 1 USD = 0.7872 EUR (-0.00037, -0.047%)

The euro posted the largest drop in nearly a month yesterday as negative news about Gernany’s economy was released. Demand for the euro fell sharply against the dollar yesterday upon release of economic data showing weakness in the German economy. News from the German Banking Association said the country’s 10 biggest lenders may be in need of another 105 billion euros of additional capital, undermining perceptions of a recovery in the eurozone.

US Dollar Euro (USDEUR) Exchange Rate

In trading this morning, the euro had somewhat mitigated its losses from yesterday, hovering around $1.27. The outlook for the euro will be centered on perceived or actual weakness regarding eurozone banks, and for the euro, vulnerability on that point will take some time to reverse.

Today’s other Forex news:

British Pound US Dollar (GBPUSD)
As damaging information was released yesterday regarding Europe’s financial condition, investors once again fled to the safe haven of the dollar.

Sterling fell back against the US dollar yesterday, much as the euro did, as concerns emerged regarding the strength of the European banking system. This morning has seen a sharp turnaround in yesterday’s plunge, however.

British Pound Euro (GBPEUR)
Sterling jumped 1.5 cents against the euro yesterday, reversing its recent downward trend at eurozone banking concerns came to the forefront.

A report in the Wall Street Journal puts concerns of eurozone bank weakness at the forefront of investors’ minds. The report noted that the stress-test eurozone banks had undergone over the summer weren’t as accurate as originally thought, sparking concerns of weakness in the zone. The report precipitated broad selling in the euro.

We will continue to monitor the US Dollar Euro (USDEUR) exchange rate throughout the day.

- US Dollar Euro (USDEUR) exchange rate currently trading at: 1 USD = 0.7768 EUR (+0.00030, +0.039%)

Despite a late rally, sterling closed below $1.54 yesterday and is little changed this morning as all eyes turn to August’s US non-farm payrolls data. It seems investors are willing to accept slightly more risk, however, the state of the UK economy is putting downward pressure on the pound.

US Dollar Euro (USDEUR) Exchange Rate

Forecasts are predicting a drop in payrolls in August for the third straight month. A lot depends on the payroll numbers that are to be released soon. If the numbers are above estimates, we could see the pound strengthening to $1.50 levels. The pound closed at $1.54 yesterday, and little has changed today as investors await the release of August’s US non-farm payroll data.

Today’s other Forex news:

British Pound US Dollar (GBPUSD)
Not much is happening on the Euro/dollar front as investors are waiting to see the US payroll data before they make their bets. The ECB has decided to keep interest rates at the 1.00% level for the seventeenth month in a row, and Trichet announced the ECB will provide added funds to its safety net program for troubled banks through 2011.

British Pound Euro (GBPEUR)
The pound continued its downward slide against the euro yesterday, dropping to a three-week low as economic figures disappoint investors. The pound opened weaker as disappointing housing and construction data were released, suggesting that a UK economic recovery may be seeing setbacks.

The ECB has decided to keep interest rates unchanged at 1.00%, but Trichet says uncertainty is still prevailing in the economy, though the growth forecasts for 2010 had been upgraded

We will continue to monitor the US Dollar Euro (USDEUR) exchange rate throughout the day.