Market news

03.03.2011, 09:22

Asian session: The euro rose

Data:

00:30 Australia Trade Balance 1.87

The euro rose toward its strongest since November against the dollar on speculation the European Central Bank will emphasize its readiness to raise interest rates as price pressures increase.

The single currency maintained gains from yesterday before a report forecast to show European retail sales increased and before U.S. figures tomorrow on non-farm payrolls.

The yen erased gains versus the euro as reports the Arab League was studying a peace plan for Libya curbed demand for Japan’s currency as a refuge.

The euro was supported by “speculation the ECB will sharpen its anti-inflation rhetoric,” John Kyriakopoulos, head of currency strategy at National Australia Bank Ltd. in Sydney, wrote today in a note to clients.

Retail sales in the bloc rose 0.3 percent in January after falling 0.4 percent the prior month, according to a survey of economists before today’s European Union statistics office report.

U.S. employers added 195,000 jobs last month, the most since May 2010, according to a survey of economists before tomorrow’s Labor Department report.

EUR/USD: the pair bargained within the limits of $1,3840-$ 1,3875.

GBP/USD: the pair bargained within the limits of $1,6300-$ 1,6330.

USD/JPY: the pair bargained within the limits of Y81,75-Y81,90.

EMU data also includes the 1000GMT release of retail trade as well as the second release of Q4 GDP data. The retail trade is expected to rise by 0.5% m/m. The main event of Thursday is set to be the European Central Bank meeting where the announcement is due at 1245GMT. No change in rates is expected but all eyes will be on ECB President Trichet for the usual press conference at 1330GMT.The European Central Bank will likely step up its inflation warning at

the press conference, but it will stop short of signaling rate hikes in the very near term as the Council seeks to apprehend the impact of global commodity price pressures on Eurozone inflation amid ongoing market tensions. The ECB may still offer some action by resuming its exit from non-standard liquidity supply or announcing measures to limit the use of those operations by so-called persistent bidders. ECB President Jean-Claude Trichet will likely confirm that interests rates are "still appropriate."

UK releases PMI Services data for February, at 0928GMT.

Latest news

26.04.2024

Natural Gas faces upside pressure as European traders prepare for next heating season

26.04.2024

USD/CAD Price Analysis: Consolidates around 1.3650 ahead of Fed’s preferred inflation gauge

26.04.2024

Gold price moves higher with eyes on US core PCE inflation

26.04.2024

US Dollar looks wobbly ahead of PCE release

26.04.2024

Mexican Peso declines in key pairs on inflation outlook

26.04.2024

Silver price today: Silver rises, according to FXStreet data

26.04.2024

India Gold price today: Gold gains, according to MCX data

26.04.2024

GBP/JPY extends winning spell to 196.00 after BoJ keeps interest rates unchanged

Support

Personal area

Trading
- Account types
- Market
- MetaTrader 4/5
Promotions
- Promotions
Investments
- Synchronous Trading
  - Rating
  - About Service
  - How it Works
  - FAQ
Analytics
- News and Tools
- Market analysis
  - Market Opinions
  - Technical Analysis
TeleTrade
- About brand
- Сooperation

Personal area

Forex Demo Account

Start Bonus 100%

Synchronous Trading

Our Advantages

Economic Calendar

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers