GBPUSD: GBP declined sharply the past week leaving risk of more weakness on the cards. While it holds and trades below its cluster of resistance zone at 1.5371/83, its outlook remains lower. Support lies at the 1.5250 level where a break will turn attention to the 1.5300 level. Further down, support lies at the 1.5200 … “GBPUSD: Risk Remains Lower Below The 1.5371/83 Region”
Month: October 2015
China Continues to Help Australian Dollar
The Australian dollar gained today on hopes that China, the biggest Australian trading partner, will stimulate its economy. The Aussie rallied against the US dollar and demonstrated small gains against other major currencies. The Australian currency rose together with the New Zealand one as Chinese policy makers demonstrated willingness to reignite the slowing economic growth. The commodity-related Aussie gained even though the market of raw materials did not fare … “China Continues to Help Australian Dollar”
Kiwi Sees Help From PBOC Rate Cut
New Zealand dollar is gaining against some of the major currencies today, thanks in large part to the latest rate cut out of China. Kiwi is expected to remain relatively steady through the end of 2015, although the situation could change in the new year. The People’s Bank of China recently cut its benchmark rates, making for the sixth time in a year that the central bank has adjusted rates lower. The news is helping … “Kiwi Sees Help From PBOC Rate Cut”
EUR/TRY: Ex Aequo
According to the press release of 22 September, the Central Bank of the Republic of Turkey’s (CBRT) Monetary Policy Committee decided to keep the overnight funding rate at 10.75% and the borrowing rate at 7.25. The CBRT’s MPC also noted that “…Loan growth continues at reasonable levels in response to the tight monetary policy stance… … “EUR/TRY: Ex Aequo”
UK Pound Mostly Higher Against Major Counterparts
Although the UK pound is struggling against some currencies, like the Aussie and the kiwi, it is seeing some success against the dollar and the euro. However, some Forex traders are starting shift into wait and see mode with economic data set for release later this week and with talk of a “brexit” from the European Union being entertained. Right now, the sterling is seeing gains against its major … “UK Pound Mostly Higher Against Major Counterparts”
![[EURCAD] Keep an Eye on this Important Level for Sell](https://investinearth.org/wp-content/uploads/2015/10/eurcad-daily.png)
[EURCAD] Keep an Eye on this Important Level for Sell
One of the charts I will be watching closely within the next few weeks is the EURCAD. This market has emerged out of consolidation by breaking below the bottom support containment line. Now price has broken free, we can expect this market to get moving. Once of the best positions to trade from is when … “[EURCAD] Keep an Eye on this Important Level for Sell”
GBP/USD: Trading the British Preliminary GDP Oct 2015
British Preliminary GDP, one of the most important economic releases, is published each quarter. GDP measures production and growth of the economy, and is considered by analysts as one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the pound. Update: UK GDP disappoints with 0.5% … “GBP/USD: Trading the British Preliminary GDP Oct 2015”
Draghi drill down, lonely loonie, silver investment and more
We begin by drilling down Draghi’s 5 drags on the euro and continue with what’s going on with the Canadian dollar and the downside pressures. We then take a deep dive into silver ETFs, ETNs and other investment paths of the precious metal before talking about the upcoming events. You are welcome to listen, subscribe and provide feedback. Draghi drag: Expectations … “Draghi drill down, lonely loonie, silver investment and more”
ECB Wants A Weaker Euro And Will Likely Get It – BTMU
The initial market reaction to Draghi’s verbal shots was certainly powerful: EUR/USD lost over 200 pips and also uptrend support is history. What’s next? There’s a good chance that more is coming, according to BTMU: Here is their view, courtesy of eFXnews: The euro has declined sharply following today’s ECB monetary policy meeting driven by … “ECB Wants A Weaker Euro And Will Likely Get It – BTMU”
EUR/USD could extend falls – tech analysis
EURUSD: A large sell-off the past week now left EUR testing its key support located at the 1.1016 level. However, this level should provide a temporary support causing a corrective recovery. But if violated, expect more weakness to occur towards the 1.0950 level. Further down, support lies at the 1.0900 level where a violation will … “EUR/USD could extend falls – tech analysis”