European Union — News Archive


British Pound Rallies on Johnson Campaign Launch, Later Retreats

The British pound today rallied to new weekly highs against the US dollar following Boris Johnson‘s launch of his campaign to become the next Conservative Party leader. The GBP/USD currency pair later fell as the US dollar recovered and investor sentiment shifted away from the pound amid the leadership uncertainty occasioned by Theresa May‘s impending departure.

US Dollar Gains vs. Riskier Currencies, Falls vs. Safer Ones During Week of Risk Aversion

Trade wars and the resulting risk aversion on markets were the main themes during the past trading week. The US dollar reacted in an expected manner, rising versus riskier currencies but underperforming against safer ones.

Euro Near 22-Month Lows as the Eurozone Economy Slows Down

The euro today traded near 22-month lows against the US dollar as investors remained worried about the state of most euro area economies. The lack of releases from the eurozone docket also contributed to the EUR/USD currency pair’s decline amid mixed releases from the US docket.

Euro Trades Sideways on Data Divergence, Falls on Dollar Rally

The euro today traded sideways against the US dollar amid a mixed market mood as investors weighed the data divergence between the EU and the US. The EUR/USD currency pair later broke out of its sideways range in the American session as the US dollar recovered.

Pound Rallies on Positive Sentiment, Drops From Highs

The British pound today rallied higher against the US dollar in the early London session driven by positive investor sentiment despite disappointing UK mortgages data. The GBP/USD currency pair headed lower in the American session even as the UK Parliament prepared for another round of indicative votes on the current Brexit deal.

Pound Slumps on Short Brexit Extension Request, Mixed CPI Data

The British pound today fell to new 1-week lows against the US dollar after the UK Prime Minister confirmed that she had requested for a short Brexit extension from the EU. The GBP/USD currency pair had traded sideways before heading lower amid mostly neutral investor sentiment and a positive reaction to the latest UK inflation report.

Euro Suffers from Falling Industrial Production

The euro was weak across the board today. Market analysts explained the currency’s poor performance by worse-than-expected industrial production in the eurozone.

Euro Declines Against USD on Mixed Eurozone Data, Later Rallies

The euro today lost ground against the US dollar from the mid-Asian session into the European session as the greenback rallied driven by positive investor sentiment. The EUR/USD currency pair traded at daily lows after the release of mixed PMI prints from across the eurozone by IHS Markit even as the Brexit deadlock capped the pair’s gains.

Sterling Rallies Despite Brexit Uncertainty With Looming Deadline

The Sterling pound today rallied slightly against the US dollar after the UK Parliament approved Sir Brady’s amendment allowing the Prime Minister to renegotiate the Irish backstop plan. The pound’s gains were limited by the fact that the European Union has categorically stated that it will not reopen negotiations regarding the current Brexit deal as it is final.

Pound Trades Within Tight Range Ahead of Key Brexit Plan B Debate

The British pound today traded in a consolidative range as markets await the Parliamentary vote on Theresa May‘s Brexit Plan B scheduled for later today. Today’s debate is quite important, but it is not a meaningful vote like the 15 January vote, which handed the UK government a historic defeat.