GBPUSD is very slow and choppy above the 1.5900 level so we think that a move from the latest low is corrective one, and therefore we think that the recovery is temporary. In fact we have labeled a decline from 1.6260 with five waves down which is evidence of a bearish price action, marked as … “GBPUSD Is Looking Bearish Against 1.6260-Elliott Wave Forecast”
Month: October 2013
GBP/USD: Trading the British Retail Sales Oct 2013
British Retail Sales is considered one of the most important consumer spending indicators and is often a market-mover. A reading that is higher than the market forecast is bearish for the US dollar. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Wednesday at 08:30 GMT. Indicator Background Consumer spending is one of the … “GBP/USD: Trading the British Retail Sales Oct 2013”
CLM introduces Introducing Brokers Program
Australian based binary options and forex broker Core Liquidity Markets has launched an Introducing Brokers Program. The IB program offers payouts to partners. CLM recently launched a New Pricing Structures for Traders. For more details about the IB program, here is the official press release: Sydney, Australia – October 14, 2013 – Core Liquidity Markets, an … “CLM introduces Introducing Brokers Program”
US Dollar Gains Ground as Senate Leaders Negotiate
It’s been a bumpy ride for everyone involved in the politicking surrounding the current budget situation in the United States. Greenback is once again edging out its major counterparts as hopes for a deal rise a little bit after being dashed earlier. There’s been something of a cycle during the last couple of days. There is hope for a debt deal, followed by disappointment when talks fall apart. Indeed, that cycle has been … “US Dollar Gains Ground as Senate Leaders Negotiate”
ZEW Rises on Euro Outlook
Euro might struggling a little bit against the greenback still, but the 17-nation currency is hoping to see some improvement in the near future. The latest ZEW reading is at its highest point since April 2010, prompting hopes in a possible economic recovery for the eurozone. Projections that Germany will continue to see economic improvement are providing some hope for the eurozone as a whole, especially since the latest data indicates that investor … “ZEW Rises on Euro Outlook”
Canadian Dollar Suffers from Fear of US Default
The Canadian dollar fell today against safer currencies as talks about the US debt ceiling drag on. The critical point is near as politicians have just two more days to resolve their disagreement or face a default. Hopes were high for a deal to be made over the past weekend or at least on Monday. Yet optimism is waning as no end to political bickering is in sight. Prices for crude oil fell, giving … “Canadian Dollar Suffers from Fear of US Default”
Won Advances as Traders Optimistic About US Debt Ceiling Talks
The South Korean won advanced today as investors were buying nation’s assets on hopes that US politicians will be able to avoid default by raising the debt liming before the deadline on October 17. There are rumors that a deal about raising the debt ceiling will be reached as soon as today. Senate Majority Leader Harry Reid said yesterday that a “tremendous progress” has been made and he is … “Won Advances as Traders Optimistic About US Debt Ceiling Talks”
UK Pound Mixed After London-Beijing Deal
UK pound is mixed today as Forex traders process the latest news out of the United States, with rumors about an agreement in the government shutdown and debt ceiling debates fading fast. But there is another side focus with the pound today. A deal between London and Beijing is about to make the United Kingdom the yuan’s currency hub in Europe. UK pound is higher against the euro and the yen today, but … “UK Pound Mixed After London-Beijing Deal”
Polish Zloty Falls as Inflation Decelerates
The Polish zloty fell today as nation’s inflation decelerated last month, giving the central bank incentive to keep interest rates at the current record low level. Consumer prices rose 1 percent in September from a year ago, down from 1.1 percent in the prior month. The growth was far below the central bank’s target of 2.5 percent. It is not likely that the National Bank of Poland will raise interest … “Polish Zloty Falls as Inflation Decelerates”
US Dollar Gains as Rumors Swirl About a Shutdown Deal
Rumors are swirling about a possible deal to end the current partial government shutdown and even raise the debt ceiling in the United States. The shutdown has been in place since the beginning of October, and the borrowing authority of the US Treasury is expected to run out on October 17. However, there are hopes that the situation is on the verge of being resolved, and that is giving the greenback a boost. While nothing has been officially announced … “US Dollar Gains as Rumors Swirl About a Shutdown Deal”