Friday, February 18, 2011

EUR/USD

The Euro rose on Friday for the third day in a row and managed to end the week with a gain of 150 pips. Comments made by ECB’s Bini-Smaghi, suggesting that the bank may me forced to raise rates to curb inflation, send the Euro higher across the board.

The EUR/USD rose further during the American session, hitting a 1-week high at 1.3714; afterwards pulled back to 1.3685. On a weekly basis posted the highest close since mid November.

Analyst at the Danske Bank continue to see the EUR/USD rising throughout 2011 based on the divergence in monetary policies between the ECB and the FED. “In fact, we have moved some euro strength forward in our forecasts. We now expect EUR/USD to hit 1.42 in six months’ time, compared with 1.38 in the previous forecast”. They look for the Euro to be trading at 1.45 in 12 months.

Across the board, the Euro finished mostly higher. EUR/JPY and EUR/CAD posted important weekly gains while EUR/NZD and EUR/AUD finished barely above last Friday’s close. The Swiss Franc was the biggest gainer among majors and finished the week higher against the Euro.

source: http://www.fxstreet.com


31 comments:

  1. I've always been deeply interested in currency markets - thanks for the update. Doesn't look good for the USD does it?

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  2. Well, I know where I'm moving to next.

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  3. The euro should rose when i was in London.. The exchange was so expensive!
    And the lifestyle there, costs way more then here in Portugal. Here everything is cheap. Minus the Gasoline :P

    Oh well goo stuff!

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  4. Later this year the Euro will increase even more, trust me^^

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  5. Interesting post! :) Keep it up! Following and supporting

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  6. Really interesting read.
    Nice blog , keep it up

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  7. I've been intermittently checking exchange rates since high school and watching the dollar suck it up compared to the euro and pound.

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  8. Its not that the dollar sucks, its just that the euro has more strength.

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  9. lets all trade all are money over to Chinese Yuan lol nice blog followed

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  10. Interesting post. Following.

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  11. i wish i'd gotten into money markets against the dollar months ago, just don't have the time for it. Just watched a CBS documentary on Canadian oil shale, looking like it might be pushing some big changes.

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  12. The only reason I don't like the Euro is because it is from the European Union. Yeah it is convenient, but I think countries need their independence and differentiation.

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  13. Well I won't be switching my currency anytime soon.

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  14. ugh. the forex charts are killing me today. need to look at stocks for a while.

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  15. It would be nice to see the NZD increase in strength amongst the social and economical development that other countries seem to thrive in.

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  16. Oooh, just what I need, a short recap of the current currency relationships. Thanks!

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  17. Yeah, it only goes up once in a while.

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  18. Unfortunately, it doesn't make very good toilet paper. Too stiff.

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  19. wow.. still, thats a huge jump in Euro ... :/ i need to start exchanging money...

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  20. I got tons of dinar. Ive been waiting over years for it to go up but barley anything.

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  21. Thanks for the info , very much appreciated!

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  22. In a future post, can you show us like a 5-10 graph of some currencies?

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  23. Thanks for sharing! I think the EUR still has a long way to go before it gains good momentum as a currency.

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  24. despite the good news, usd is still slacking

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