- European session: The U.S. currency rose
Market news
10 March 2011
European session: The U.S. currency rose
Data:
09:00 European Monetary Union ECB Monthly Report
09:30 United Kingdom Manufacturing Production (MoM) (Jan) 1.0%
09:30 United Kingdom Industrial Production (MoM) (Jan) 0.5%
09:30 United Kingdom Industrial Production (YoY) (Jan) 4.4%
09:30 United Kingdom Manufacturing Production (YoY) (Jan) 6.8%
12:00 United Kingdom BoE Interest Rate Decision (Mar) 0.5%
The euro fell to the lowest level in a week against the dollar after Moody’s Investors Service lowered Spain’s credit rating, increasing pressure on European leaders to find a solution to the region’s debt crisis.
The pound declined versus the greenback before the Bank of England’s interest-rate decision today.
The U.S. currency rose on prospects jobs data will signal a continued recovery in the world’s largest economy.
The Swiss franc and the yen gained as violence escalated in Libya.
European leaders are due to meet tomorrow having set a March 25 deadline to approve a “comprehensive” package of measures to end the sovereign-debt crisis. Moody’s said the outlook for the Spanish rating is “negative,” meaning the next change is most likely to be another cut.
EUR/USD: the pair bargained in the field of $1,3820.
GBP/USD: the pair shown low in the field of $1,6120 then grown. However later decrease renewed.
USD/USD: the pair bargained in the field of Y82,90.
US data starts at 1330GMT with Initial Jobless Claims (Mar 5).
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