The Great Britain pound fell as the report today showed that the retail sales in the UK declined in February more than predicted was predicted by economists. The total volume of the sales decreased by 0.8 percent between January and February, according to the report of the National Statistics. The decline was both in the predominantly food stores and in the predominantly non-food stores. The expected decrease was 0.5 percent. GBP/USD fell from 1.6241 to 1.6163 today as of 16:03 GMT. If you … “Sterling Goes Down with Retail Sales”
Month: March 2011
Euro Rises vs. Dollar as EU Summit Begins, ECB Rates Hike Expected
The euro advanced against the US dollar today after the leaders of the European Union began their two day meeting in Brussels to discuss the way out of the debt crisis. Traders hope that EU leaders will find solution to Europe’s issues at the two-day summit, increasing bets that the European Central Bank will increase the interest rates. The euro weakened earlier as Moodyâs Investors Service downgraded the ratings of 30 Spanish banks and Portugalâs … “Euro Rises vs. Dollar as EU Summit Begins, ECB Rates Hike Expected”
Myanmar Earthquake sends USD/CHF Down
A serious 7.0 magnitude earthquake has hit northeast Myanmar (Burma). The epicenter of the quake was close to Myanmar’s borders with Laos and Thailand. The earthquake, that was felt as far as Bangkok, Thailand’s capital, joins all the other global fears and sends traders to the Swiss franc, yet again. USD/CHF made a fresh fall … “Myanmar Earthquake sends USD/CHF Down”
Grad Missile In Rishon Lezion Marks Fresh Mid East
A Grad rocket hit the southern tip of the big Israeli city of Rishon Lezion, a suburb of Israel’s main financial center, Tel Aviv, and part of Israel’s biggest metropolitan area. The missile, fired from the Gaza strip, has reached the northernmost point so far, further north of any rocket fired during the Gaza was … “Grad Missile In Rishon Lezion Marks Fresh Mid East”
New Zealand Dollar Rises as Economy Expands
The New Zealand dollar advanced after the report showed that the nation’s economy grew more than expected in the last quarter of 2010. Statistics New Zealand reported that New Zealand’s gross domestic product expanded 0.2 percent in the fourth quarter of 2010. Analysts expected an increase by 0.1 percent. The economy shrank 0.2 percent the third quarter of the last year. The report said that the largest increases were in the manufacturing and the real estate … “New Zealand Dollar Rises as Economy Expands”
Pound Weakens on Minutes of BOE Meeting
The Great Britain pound declined today after the minutes of the Bank of England meeting showed that the policy makers prefer to keep the interest rates unchanged. The minutes showed that six of nine members of the Monetary Policy Committee favor unchanged interest rates, while market participants hoped that the number of voters for higher rates would increase since last meeting. The minutes said: Overall, the uncertainty created by both developments in the oil market … “Pound Weakens on Minutes of BOE Meeting”
Swiss Franc Gains as Radiation Leaks Out of Japan’s Nuclear Plant
The Swiss franc advanced today as the heightened concern about the radiation leak from the damaged nuclear plant in Japan spurred demand for safer assets among investors. The tap water in Tokyo has the amount of iodine unsafe for infants, while the tests showed the radiation contamination of sea water and some food. Prime Minister Naoto Kan ordered today to stop the milk and parsley shipments from the prefecture between Fukushima, where the damaged nuclear plant … “Swiss Franc Gains as Radiation Leaks Out of Japan’s Nuclear Plant”
Canadian Dollar Knocked Down by Retail Sales
The Canadian dollar weakened against its US peer as the report showed that the retail sales in Canada unexpectedly decreased for the second month. The Canadian retail sales decreased 0.3 percent in January, posting the second decline in two months. Analysts predicted growth by 1.1 percent. The main contributor to the decline was the lower sales at new car dealers. The Standard & Poorâs 500 Index dropped 0.4 percent. On the positive note, the composite leading … “Canadian Dollar Knocked Down by Retail Sales”
Pound Gains as Inflation Accelerates
The Great Britain pound jumped today to the highest price in more than a year after the report showed that the inflation in the UK accelerated last month more than was anticipated. Britain’s annual inflation was 4.4 percent in February, up from 4.0 percent in January. That’s compared to the analysts’ estimate of 4.2 percent and the central bank’s target of 2 percent. The rising inflation renewed talks about the possible interest rates hike … “Pound Gains as Inflation Accelerates”
EUR/USD Rising In Impulsive Formation
Euro reached new highs in recent trade, reaching levels around 1.4250 Fibonacci resistance region where gains may slow down, since we are looking for a top of a fifth wave within an extended wave (iii). We know that after every five waves correction follows, which in our case would be only a wave (iv) pull-back … “EUR/USD Rising In Impulsive Formation”