Oil prices are higher today after the anti-government protesters rallied in Tripoli’s streets, tribal leaders spoke out against long-time leader Muammar Gaddafi, and army units defected to the opposition as one of the bloodiest revolts in the region, CNBC reported. Oil moved lower in recent weeks, but technically speaking, prices were able to stay above … “Oil Prices Ready To Gain Towards and Above $93!?-Elliott”
Author: admin_mm
Weekly Gains of Pound on Anticipation of Interest Rates Hike
The Great Britain pound strengthened this week on the speculations that the Bank of England will be required to raise the interest rates to curb the growing inflation. The BoE left its benchmark interest rates at the record low level of 0.5 percent on February 10. The bank keeps the stimulus to mitigate the effect of the budget cuts on the nation’s economy. Yet more and more policy makers voice concerns about such course of action and speak in favor of higher … “Weekly Gains of Pound on Anticipation of Interest Rates Hike”
Australian Dollar Rose on Stronger Commodities
The Australian dollar strengthened for the third day against its US counterpart as the commodities rallied, increasing demand for growth-related currencies. The currency declined against the euro and was unchanged versus the Japanese yen. The Thomson Reuters/Jefferies CRB Index advanced 0.4 percent. Silver and coffee posted the biggest gains. The commodities rally, as the analysts predicted, and commodity currencies, including the Aussie, follow them. Credit Suisse AG predicted that the Reserve Bank of New Zealand … “Australian Dollar Rose on Stronger Commodities”
Euro Rises as ECB Official Speaks in Favor of Interest Rates Hike
The euro advanced to the highest level in a week versus the US dollar today after member of the European Central Bank Executive Board Lorenzo Bini Smaghi said that the inflation pressure may force the bank to raise the interest rates. Bini Smaghi said: As the economy gradually recovers and global inflationary pressures arise, the degree of accommodation of monetary policy has to be monitored and, if needed, corrected. The ECB policy makers look worried … “Euro Rises as ECB Official Speaks in Favor of Interest Rates Hike”
Great Britain Pound Jumps as Retails Sales Grow
The Great Britain pound climbed today after the report showed that the retail sales in the UK advanced three times more than was forecast. Britain’s retail sales jumped 1.9 percent in January, compared to the predicted value of 0.6 percent. In December the sales declined 1.4 percent. The surge of the retail sales intensified the talks about the increase of the interest rates by the Bank of England. GBP/USD advanced from 1.6171 to 1.6231 today as of 16:50 GMT, … “Great Britain Pound Jumps as Retails Sales Grow”
Forex Crunch Wins FXStreet’s Best Fundamental Analysis Award
I’m very proud to announce that Forex Crunch has won the Best Fundamental Analysis award in the Forex Best Awards 2011 event held by FXstreet. This is a great honor. 7880 votes were cast in 12 categories during two weeks. In the best technical analysis reward, the winning report is the weekly experts forecast, in … “Forex Crunch Wins FXStreet’s Best Fundamental Analysis Award”
Looking at Crosses – Elliott Wave
Hello Traders! Major pairs are very tricky at the moment, with some choppy and mixed signals across the board. It’s not easy to read those patterns right now and as such, we deiced to look at some crosses. On the video below Gregor Horvat will make a detailed outlook on Eur/Aud, Eur/Cad, Eur/Jpy and Gbp/Chf. … “Looking at Crosses – Elliott Wave”
CAD Retreats After Touching Two-Year High vs. USD
The Canadian dollar retreated after it jumped to the highest level since March 2008 versus its US counterpart. The Canadian currencies had gained as crude oil advanced on the concerns about supply from Middle East. April contract for Brent crude oil dropped 1 percent to $102.77 per barrel on ICE after reaching yesterday $103.78, the highest price since September 25, 2008. Crude oil is Canadaâs main … “CAD Retreats After Touching Two-Year High vs. USD”
US Dollar Falls as Unemployment Claims Rise
The US dollar weakened today against most other major currencies after the reports showed that the number of the unemployment claims in the US rose and the leading indicators increased less than was predicted. Analysts predicted that the claims for the unemployment benefits would increase from 385,000 to 401,000 in the previous week. The actual reading was higher than the prediction â 410,000. The Leading Index of the Conference Board Inc. posted the growth by 0.1 percent … “US Dollar Falls as Unemployment Claims Rise”
Pound Rebounds as Sentance Insists on Rising Interest Rates
The Great Britain pound strengthened against the US dollar and the euro today after Bank of England policy maker Andrew Sentance explained in his today speech the necessity of raising the interest rates. In his speech at the Institute of Economic Affairs 2011 State of the Economy conference today Sentance said: One of the benefits which we might see from a policy of raising interest rates is a modest appreciation of sterling, which would mitigate the impact … “Pound Rebounds as Sentance Insists on Rising Interest Rates”