Pound Gains After Employment Report

The Great Britain pound gained today after positive employment report reinforced the favorable outlook for Britain’s economy. The currency retained strength even as the central bank voiced concerns about the sterling’s appreciation. Unemployment claims fell by 34,600 in February from the previous month, exceeding the forecast of 23,300 drop. The unemployment rate stayed at 7.2 percent. The Bank of England released the minutes of its March policy meeting, voicing opinion that the impact of the sterling’s … “Pound Gains After Employment Report”

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USD/JPY: Trading the US jobless claims Mar 2014

US Unemployment Claims, a key indicator, is released weekly. It measures the number of people who filed for unemployment for the first time during the previous week. A reading which is higher than the market forecast is bullish for the Japanese yen. Here are all the details, and 5 possible outcomes for USD/JPY. Published on … “USD/JPY: Trading the US jobless claims Mar 2014”

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Yen Continues to Show Weakness

Yen continues to show weakness today, heading lower against some of its major counterparts, particularly the US dollar and the UK pound. There is shorting of the yen as Forex traders consider the possibility of global economic recovery, and as the events in Ukraine continue to be mostly a non-issue for world markets. Even though there had been some concern over events in Ukraine and the annexation of Crimea by Russia, things are settling right now, since … “Yen Continues to Show Weakness”

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Worries Grow That ECB Will Have to Ease Soon

The euro continues to struggle a bit today as concerns about what’s next for eurozone monetary policy grow. There is speculation that the ECB will have to ease policy further in order to stimulate the eurozone economy, and that has some worried about what could be next. Even though wage growth in the eurozone outpaced consumer prices in the fourth quarter of 2013, the reality is that the eurozone is still lagging behind … “Worries Grow That ECB Will Have to Ease Soon”

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Ruble Rises as Impact of Sanctions Against Russia Considered Limited

The Russian ruble rose today, gaining for the third session, on speculations that the impact of sanctions that the United States and the European Union are going to impose on Russia will be limited and they will not influence the Russian economy very strongly. The USA and the EU agreed on asset freezes and visa restrictions for several Russian and Ukrainian officials, the move that was considered to be not very impressive. Many economists believe that the West … “Ruble Rises as Impact of Sanctions Against Russia Considered Limited”

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USDCAD Weekly Triangle Pattern Trade Set-Up

WEDNESDAY 19th March 2014 – I’ve spoken on many occasions about the triangle resistance pattern on a weekly time frame on USDJPY. As we all know after the big move from under 0.78 in September 2012 to almost 104.00 by June 2013, it consolidated for most of the rest of 2013 and then finally broke … “USDCAD Weekly Triangle Pattern Trade Set-Up”

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Pound Remains Soft as Carney Speaks About Low Interest Rates

The Great Britain pound fell yesterday and retained losses today as Bank of England Governor Mark Carney reiterated in his speech the commitment to keep interest rates low for a prolonged period of time. Carney said during his speech at Cass Business School in London: As the MPC has signalled, a low for long interest rate environment will likely be with us for some time. The MPC’s new guidance that any adjustments in rates, … “Pound Remains Soft as Carney Speaks About Low Interest Rates”

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Poloz Says Interest Rate Cut Possible, Hurts Canadian Dollar

The Canadian dollar sank yesterday after Bank of Canada Governor Stephen Poloz signaled that he is prepared to cut interest rates in case the economy worsens. The currency is attempting to recover today but is not good at this so far. Poloz was not particularly optimistic in his speech to Halifax Chamber of Commerce yesterday, saying: Canada’s economy has been in recovery since 2009 — for four years — yet … “Poloz Says Interest Rate Cut Possible, Hurts Canadian Dollar”

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