StockMarketWire.com - A week long rally in the euro showed no signs of slowing heading into the close of the EU session. The announcement from the European Central Bank said banks will hand back a greater amount of three-year loans than expected. The euro rallied to an eleven-month high against the US dollar to $1.3479.
After outperforming expectations earlier in the week following the BoJ announcement of an “open-ended bond purchasing" set to begin Jan 2014. However, after hitting a low ¥117 against the euro, the EUR/JPY rallied to ¥122.78 in today's trading.
The British pound managed to hold steady despite a weaker-than-expected GDP figure (-0.3%) was announced this morning (9:30AM GMT). The biggest mover for the pair was GBP/JPY +0.83% to ¥143.81. The release of the data has now left an expectation that the BoE will further expand its balance sheet.
After topping out at $1.6380, a GBP/USD correction put in a low of $1.5745 in today's trading. The momentum looks to have run out of steam with strength indicators now looking to rebound, however 50/100-day MA's still remain bearish.
The Canadian dollar was a big mover both today and on the week following the Bank of Canada's (BoC) announcement viewing the removal of monetary stimulus as “less imminent” than previously assumed was met with a bearish sentiment by the market. EUR/CAD was the biggest mover, increasing+1.26% to C$1.3579 on the day.
At market close:
Story provided by StockMarketWire.com
MoneyAM.com
MoneyAM website is aimed at investors of all levels of experience including City professionals, investors and full-time traders.
- Free live share prices
- Free live watch lists
- UK and Worldwide Indices
- Live market News
- Company Fundamentals
- Charts - Intraday and historic
- Stock Portfolio
Shares Magazine
Shares is the leading weekly publication for high net worth private investors and stock market professionals and as such is read weekly by thousands of private investors, analysts, fund managers, stockbrokers and company directors.
Broker Forecasts
Brokerforecasts.com publishes equity upgrades, downgrades, reiterations, resumption and drops in coverage, as well as price target changes to a desktop or via alerts to email.
All recommendations are delivered and updated as soon as possible after release. The majority will be on brokerforecasts.com prior to market open.
Directors Holdings
Company directors know the state of their business better than anyone. That's why professional investors like to keep a close watch on the directors who are buying and selling and often follow their lead. DirectorsHoldings.com provides all the necessary screening and search tools.