The pound has enjoyed a rally recently, but that rally is slowing right now. Sterling is trading mixed today against its major counterparts. Earlier, the pound surged higher, enjoying a rally against its major counterparts as news out of the United States moderated and Forex traders pared back its Fed rate hike expectations. Additionally, the United Kingdom has seen some promising economic data recently, … “Pound Rally Slows in Forex Trading”
Month: May 2015
GBP/USD: Trading the British Second GDP May 2015
British Second Estimate GDP indicator is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the pound. Update: UK updated GDP: +0.3% – GBP/USD slides Here are all the details, and 5 possible outcomes … “GBP/USD: Trading the British Second GDP May 2015”
Greece Crisis: Scenarios For EUR/USD, AUD/USD – NAB
Yet another deadline looms for Greece: the IMF payment due on June 5th. The Greek crisis is never too far from the headlines. The team at NAB outline scenarios for both EUR/USD and AUD/USD: Here is their view, courtesy of eFXnews: 1- Stay in Euro area and keep EUR (60%). “The most likely scenario is the … “Greece Crisis: Scenarios For EUR/USD, AUD/USD – NAB”
USDJPY: Bullish, Extends Strength
USDJPY: With the pair bullish and extending it during Tuesday trading session, it now faces a possible hold above its key resistance turned support at 122.02 level. However, you should keep an eye on that level. On the upside, resistance resides at the 123.00 level with a turn above here aiming at the 123.50 level. … “USDJPY: Bullish, Extends Strength”
US Data Supports Upward Momentum of Dollar
The US dollar gained more than 1 percent against the basket of major currencies today, reaching the highest level in almost 8 years against the Japanese yen. Today’s economic data from the United States added to the upward momentum of the greenback. The dollar just continued the bullish trend that has started last Friday. While the rally has slowed on Monday due to quiet trading during the Memorial Day holiday, the advance resumed … “US Data Supports Upward Momentum of Dollar”
Yen – Biggest Loser on Forex Market During Tuesday’s Trading
The Japanese yen was the weakest major currency during today’s trading session. The yen slid not only against other majors, like the US dollar, but against commodity currencies as well. Today’s data released from Japan showed that the Services Producer Price Index rose 0.7 percent in April from a year ago, exceeding analysts’ projections by a small margin. At the same time, the index was down 0.1 percent … “Yen – Biggest Loser on Forex Market During Tuesday’s Trading”
NZD Falls vs. USD, Gains on Other Majors
The New Zealand dollar fell against its US counterpart during the Tuesday’s trading session but gained against other majors, including the euro. Data from New Zealand showed that the nation’s trade surplus shrank last month, but the decrease was not as big as experts have predicted. The New Zealand trade balance demonstrated an excess of NZ$123 million in April, down from NZ$754 million in the previous months. Still, … “NZD Falls vs. USD, Gains on Other Majors”
Euro Falls on Greek Debt Worries
Greece is once again in the spotlight, and the euro has touched a one-month low against the US dollar today as concerns about Greek debt once again come to the front of mind. Euro slipped below the 1.9000 mark against the US dollar earlier in trading today, hitting a one-month low of 1.0885. The euro has since recovered some of those losses, but is still under pressure. Concerns about Greece are once … “Euro Falls on Greek Debt Worries”
Loonie Loses Ground, But Hope Appears
Canadian dollar is losing ground against some of its major counterparts today, but there has been a slight shift in the long-term outlook for the loonie. Even though the Canadian dollar is lower today, there might be room for some strength in the future as the economy improves and if oil prices continue to recover. Last week, there was a small shift in the USD/CAD, subtly favoring the Canadian dollar. Today, some of that … “Loonie Loses Ground, But Hope Appears”
State of EUR/USD – The fall, the recovery and what’s
Just one year ago, EUR/USD traded at nearly 1.40. Since then, it has lost a lot of ground but managed to recover. Why did the pair fall so much, recover and what’s next? Here is an overview and an outlook: EUR/USD fell from a peak of nearly 1.40 in May to 1.05 a few months … “State of EUR/USD – The fall, the recovery and what’s”