The British Manufacturing Production, a key indicator, provides analysts and traders with a snapshot of the health of the UK manufacturing sector. A reading which is higher than the market forecast is bullish for the pound. Update: GBP/USD loses 1.71 as manufacturing production plunges Here are all the details, and 5 possible outcomes for GBP/USD. Published … “GBP/USD: Trading the British Manufacturing Jul 2014”
Month: July 2014
Dukascopy’s technological innovations continue as social signal trading goes
By Andrew Saks-McLeod Dukascopy furthers its range of technological innovations which are aimed to engage traders as social signal trading becomes available on live accounts Source: Leap Rate
Short-Term Forecast for UK Pound Ahead of BoE Meeting
The Great Britain pound has been a remarkable performer on the Forex market recently but lost its upward momentum during the end of the last week. Will the currency be able to resume its thrust to the upside or the period of strength has come to an end? Fundamentals still look good for the currency, though not much economic data is expected this week. The most important event will be the Bank of England monetary policy … “Short-Term Forecast for UK Pound Ahead of BoE Meeting”
Canadian Dollar Sinks Despite News Being Not That Bad
The Canadian dollar sank today even though the Forex traders’ sentiment towards the currency improved somewhat and not all economic reports from Canada were bad. The currency extended its drop for a second trading session. The Purchasing Managers’ Index of Richard Ivey School of Business dropped from 48.2 in May to 46.9 in June while analysts have promised an increase to 51.3. As for good news, building permits jumped 13.8 percent in May. … “Canadian Dollar Sinks Despite News Being Not That Bad”
Dollar Attempts to Extend Rally, Fails
The US dollar attempted to extend the previous week’s rally against the euro today and was successful at the start of the trading session, but reversed its advance later and trades below the opening level as of now. The greenback also fell versus the Japanese yen but rose against the Great Britain pound. Forex market participants argue whether the Federal Reserve will start raising interest rates sooner, prompted by very good employment data, … “Dollar Attempts to Extend Rally, Fails”
German Data Subdues Euro
The latest data out of Germany is leading to subdued trading by the euro. Concerns about the eurozone economy are still a big part of the picture for the 18-nation currency, and Germany’s lackluster data isn’t helping much. Germany’s latest economic data showed that industrial numbers have slipped. Industrial output in Germany fell 1.8 per cent during the month of May, highlighting a drop that is the biggest in more than 24 months. … “German Data Subdues Euro”
UK Pound Struggles as Rally Fades
UK pound is struggling today, heading lower against many of its major counterparts, as the recent rally fades. Expectations that the Bank of England would be among the first to start boosting rates again have helped strengthen the pound, but the situation has leveled out and the pound is lower. Even though the recent British PMI reading was better than expected, the recent rally seems to be coming to a close … “UK Pound Struggles as Rally Fades”
5 Most Predictable Currency Pairs – Q3 2014
Currency pairs are not born equal and do not follow the same technical behavior. The better ones will enjoy a nice follow through after breaking a clear line of support or resistance. And in case they lack the strength, they will slow slow down before such a line and eventually bounce nicely back to range. Yet … “5 Most Predictable Currency Pairs – Q3 2014”
Week of Gains for USD After Non-Farm Payrolls
The US dollar gained ground this week, following last week’s losses, with help of domestic macroeconomic indicators, most important of which were non-farm payrolls. At the same time, the performance of the greenback was not as stellar as one might expect considering the circumstances. As was expected, this week was somewhat mixed for the US currency. While non-farm payrolls, which were far better than even optimistic forecasts, indeed propelled … “Week of Gains for USD After Non-Farm Payrolls”
Australian Dollar Halts Drop, Struggles to Rally
The Australian dollar halted its two-day drop today but has hard time carving out gains as domestic fundamentals are still dragging the currency down. The Aussie was heading to a weekly loss versus its US counterpart. The Australian dollar was not able to join the rally of other higher-yielding currencies as domestic factors remained negative for the currency. The Aussie’s attractiveness was hurt by poor Australia’s economic indicators and comments from … “Australian Dollar Halts Drop, Struggles to Rally”