Although closing marginally lower for the past week, GBP/JPY remains vulnerable to the downside on corrective pullbacks. Its current vulnerability is coming on the back of a loss of price momentum at the 139.99 level in early April’2011. Guest post by www.fxtechstrategy.com On continued bear threats, the cross will aim at the 130.19 level, its … “GBP/JPY Downside Pressure Persists”
Month: April 2011
Interest Rates Outlook Causes Weekly Slump of Dollar
The US dollar was performing terribly this week against both commodity and safe currencies among signs of economic growth and on speculation that the Federal Reserve will lag with an increase of the interest rates. The bad performance of the US currency against its safe-haven counterparts was expected, but the drop versus currencies linked to growth wasn’t anticipated. The persisting Europe’s problems with sovereign debt should’ve spurred the greenback against commodity … “Interest Rates Outlook Causes Weekly Slump of Dollar”
Bernanke to Weigh on Dollar? FOMC Preview
The upcoming FOMC meeting holds high expectations towards the end of the QE2 program. Bernanke, who will meet the press, is likely to supply more reasons to sell the dollar. FOMC Preview with 3 scenarios for the first ever press conference that will accompany it. This meeting of the FOMC on April 27th, will be … “Bernanke to Weigh on Dollar? FOMC Preview”
EUR/USD – Bullish Within Price Channel
Euro/Dollar: Though the pair is hesitating, it continues to hold above the 1.4519 level and trade within its rising channel. This suggests that further upside gains are likely to be seen towards the 1.4681 level, its Dec 12’2010 followed by the 1.4800 level and then the 1.4902 level, its Dec 06’2009 high. Guest post by www.fxtechstrategy.com … “EUR/USD – Bullish Within Price Channel”
Pound Strives Higher as UK Retail Sales Expand
The Great Britain pound advanced after the report showed that the retail sales in Britain unexpectedly rose last month, refueling talks about possible increase of the interest rates by the central bank. The UK retail sales increased by 0.2 percent in March on month-on-month basis, following the drop by 0.9 percent in February. This report surprised analysts, who expected a decrease by 0.5 percent. The public net borrowing was £18.6 billion, in line with … “Pound Strives Higher as UK Retail Sales Expand”
Slower US Economy’s Growth Makes Dollar Weaker
The US dollar declined today as the macroeconomic reports showed that the economy of the US improved with slower pace than was anticipated. The Manufacturing Index of the Philadelphia Fed tumbled from 43.4 in March to 18.5 in April, while it was expected to go down to only 37.1. The index shows that the manufacturing still expands, but much slower. The unemployment claims decreased from 416,000 to 403,000 last week, while forecasts promised … “Slower US Economy’s Growth Makes Dollar Weaker”
Gold Jumps Above $1,500, Helping South Africa’s Rand
The South African rand climbed today as gold continue to post new records and on speculation that the central bank will increase the interest rates. Gold rose 0.6 percent to $1,509, posting the seventh day of gains, as the inflation pressure and worsening confidence in the paper currencies attract investors to the precious metal. The FTSE/JSE Africa Gold Mining Index of five gold mining companies advanced 9.4 percent in March. The South African Reserve Bank may … “Gold Jumps Above $1,500, Helping South Africa’s Rand”
Franc at Record vs. Dollar on Bad US Economic Reports
The Swiss franc jumped to the record versus the US dollar after the macroeconomic data suggested that the economic growth in the US slowed. The Federal Reserve Bank of Philadelphia index of the manufacturing conditions slumped from 43.4 in March to 18.5 in April. The US jobless claims decreased to 403,000 last week, while analysts expected a decrease to 394,000. USD/CHF fell from 0.8879 to 0.8818 today as of 15:06 GMT after it reached earlier the record low … “Franc at Record vs. Dollar on Bad US Economic Reports”
GBP/USD Set For More Gains After Breaking Out Of
The pair has convincingly broken out of its sideways trading range to the upside following many weeks of being trapped there. This technical development has opened up risk of further strength towards the 1.6720 level, its Nov 11’2011 high. Guest post by www.fxtechstrategy.com A clean break and hold above there will set the stage for … “GBP/USD Set For More Gains After Breaking Out Of”
dbFX Shutting Down
There’s lots of action in the forex industry towards the Easter holiday. dbFX, one of the highly regarded forex brokers, and forex retail bank (backed by the huge Deutsche Bank) is shutting down its operations and moving willing clients to forex.com (Gain Capital). Michael Greenberg reports and analyzes: Gain Capital is the big winner here … “dbFX Shutting Down”