GBP/USD continues to grind lower, in a slow but steady fall. The pair is trading at a 5 month low, with sterling showing weakness against many other currencies. Here are 3 reasons for the drop, and a guide to the next technical levels. GBP USD Next Levels – Click image to enlarge 3 Major Reasons … “GBP/USD: 3 Reasons for the fall and the next levels”
Month: January 2013
Swiss Franc Rises Even as Politicians Say It Should Be Weakened
The Swiss franc advanced today even as Swiss politicians said that the currency is still strong and should be weakened further. It looks like even the recent drop of the Swissie was not enough to reduce the negative impact of strong currency on the nation’s economy. The franc started its drop against the euro on January 10, paused it after reaching the lowest level since May 2011 and after a short rally resumed … “Swiss Franc Rises Even as Politicians Say It Should Be Weakened”
Sterling Weak as Britain’s House Prices Stall
The Great Britain pound dropped today after a report showed that house prices did not grow this month after falling in the previous months. The data added to the previous signs of economic weakness in the United Kingdom. Hometrack reported that house prices did not change in January after declining the previous six months, including November and December, when prices went down 0.1 percent. The report followed last week’s data … “Sterling Weak as Britain’s House Prices Stall”
Euro-Crosses Could Extend Even Higher In Risk-On Environment –
The USD dollar has been trading higher against its rivals during the Asian trading hours. AUD, GBP and CAD are still the weakest while JPY is trying to find some support for the near-term. The larger picture of the markets remains unchanged but still very messy. Below we have an overlay chart between some major … “Euro-Crosses Could Extend Even Higher In Risk-On Environment –”
Understanding the ECN (Electronic Communication Network)
ECN stands for Electronic Communication Network which is basically a platform for various financial units to gather and perform Forex trading processes. It is more of an online market place for various ECN brokers to make money via Forex trading. The ECN network does not only act as an important platform but also provides its … “Understanding the ECN (Electronic Communication Network)”
USD/CAD: After parity, where next? Technical Update
USDCAD rallied above the 200-day SMA (simple moving average) and previous swing high level around the 0.9970 – 0.9980 area on Wednesday – with a subsequent break above parity seen on Thursday. Friday had the Loonie move as high as 1.0098 before retracing just shy of 61.8% of the daily range and back to the … “USD/CAD: After parity, where next? Technical Update”
Yen Tumbles amid Persistent Deflation
The Japanese yen extended its tumble today, reaching the lowest level since June 2010 against the US dollar and the lowest since April 2011 versus the euro, as persistent deflation spurred talks that policy makers have no other choice than to continue introducing monetary easing measures, weakening the currency. The Japanese core Consumer Price Index fell 0.2 percent year-on-year in December. The Tokyo core CPI declined 0.5 percent … “Yen Tumbles amid Persistent Deflation”
AUD Gains on JPY, Drops vs. USD & EUR
The Australian dollar rose against the Japanese yen today as Japan showed willingness to continue pushing its currency down. At the same time, the Aussie fell against the US dollar and the euro on concerns that the Australian central bank will cut interest rates. Deflation in Japan intensified and that will likely lead to increasing political pressure on the Bank of Japan to weaken the yen. The likelihood of an intervention allowed the Australian currency to gain on the Japanese one. The Aussie … “AUD Gains on JPY, Drops vs. USD & EUR”
Canadian Dollar Falls Back on CPI Report
Canadian dollar is struggling today, even though other high beta currencies are doing well. One of the issues right now is the latest CPI data coming out of Canada. Concerns about the Canadian economy are mounting, and that is weighing on the loonie today. Loonie reached a low not seen for six months against the US dollar earlier today, thanks to the latest CPI report. Canada’s latest inflation … “Canadian Dollar Falls Back on CPI Report”
Euro Gets Help from Improved Global Economic Outlook
Euro is getting help today from an improved global economic outlook. With the world economy looking a little better, with help from the latest news out of the United States as well as earlier news from China, optimism is driving interest in risk assets like the euro. Earlier in the session, the euro hit an 11-month high against the US dollar as the global economic outlook became the subject of optimism. Signs that the global … “Euro Gets Help from Improved Global Economic Outlook”