The Great Britain pound jumped today after the report showed that Britain’s service industry unexpectedly grew in March, supporting the outlook for higher interest rates. The Markit/CIPS Business Activity Index was at 57.1 in March, seasonally adjusted. It was expected to fall slightly to 52.5 from February’s 52.6. The business activity rose as companies benefited from improved business conditions, higher sales and increased enquiries. GBP/USD climbed from 1.6130 … “Britain’s Service Sector Makes Sterling Stronger”
Month: April 2011
xTrader – An ECN Solution by FXPro
ECN platforms are gaining traction. Cyprus based broker FXPro is launching an ECN platform named xTrader. Among the features are a No-Dealing Desk function (NDD), guaranteed execution and no re-quotes, interbank pricing and more. I believe that having an ECN option is an advantage for every forex broker out there. Apart from providing more options to … “xTrader – An ECN Solution by FXPro”
GBPUSD: Strengthening Within Its Range
GBPUSD: The pair continues to build on its past week gains strengthening on Monday and following through higher in early trading today. However, GBP remains trapped within its range between the 1.5964 and the 1.6342 levels. Guest post by www.fxtechstrategy.com. Above the 1.6397 level, its Mar 22’2011 high is required to bring the pair out … “GBPUSD: Strengthening Within Its Range”
Yen Slips on Mounting Evidences of Economic Recovery
The Japanese yen went down today as the reports today are expected to show that the US services industry grew and the European retail sales increased. The report of Eurostat is expected to show that the retail sales in Europe grew 0.1 percent in February. Experts also predict that the report of the Institute for Supply Management will show that the services PMI rose from 59.7 to 59.8 in March. The signs of the strong economic growth increases … “Yen Slips on Mounting Evidences of Economic Recovery”
Australian Dollar Retreats After Reaching Record vs. Yen
The Australian dollar touched the record price in 11 months versus the Japanese yen today as stocks rallied, but retreated on the forecast that the central bank will leave the interest rates unchanged. The MSCI Asia Pacific Index of regional shares rose 0.5 percent. The Thomson Reuters/Jefferies CRB Index of raw materials gained 0.2 percent. The Australian dollar is a currency related to growth, and as such gains of stocks and commodities are beneficial to it … “Australian Dollar Retreats After Reaching Record vs. Yen”
Market Trends Favor Australian Dollar gains, Japanese Yen losses
Will the Euro sell off if the rate hike is only 25 basis points? Why is the Aussie unstoppable? Is the big intervention in the yen succeeding, and what does it depend on? Answers to these questions and more are provided by quantitative analyst David Rodriguez. David Rodriguez is a quantitative analyst for DailyFX.com, specializing … “Market Trends Favor Australian Dollar gains, Japanese Yen losses”
5 Most Unpredictable Currency Pairs
Some currency pairs just give you a headache: they take a slow walk through clear lines of support or resistance, make jumps when nobody’s looking and get traders to draw strange lines on the charts. These currencies are the least predictable ones. Here are my top 5 pairs that are most challenging for technical analysis: … “5 Most Unpredictable Currency Pairs”
Pound Strengthens as Construction Expands
The Great Britain pound gained today after the report showed that the construction in the UK expanded in March faster than was predicted by analysts. The seasonally adjusted Markit/CIPS Construction Purchasing Managersâ Index was at 56.4 in March, showing a strong expansion of activity in the UK construction sector. The index was at 56.5 in February and was expected to drop to 54.7 last month. GBP/USD traded at 1.6142 today as of 10:16 GMT after it opened at 1.6107 … “Pound Strengthens as Construction Expands”
Euro Declines as Interest Rates Can Hurt Indebted Nations
The euro pared its five-day gains versus the US dollar as the anticipated interest rates increase can cripple the most indebted nations of the Eurozone. Analysts predict that the European Central Bank will raise its benchmark rate by 25 basis points on April 7 from the record low of 1 percent. Such increase will be beneficial for the strong economies, like the German one, but can be disastrous for the peripheral nations, … “Euro Declines as Interest Rates Can Hurt Indebted Nations”
USD/CHF Recovery Supported by Stock Market
Usd/Chf spiked higher on Friday and now we have five waves up from 0.8920 lows, which means that from an Elliott Wave perspective trend has changed from bearish to bullish, because impulsive structure always shows direction of a temporary trend. With this being said, we are expecting higher levels to be seen within larger three … “USD/CHF Recovery Supported by Stock Market”