The British Pound made a push forward in it’s journey upwards, getting close to 1.61. As aforementioned, serious resistance appears only at 1.67 , so the road north is open. Review and Outlook… Last week, the British Pound broke strong resistance levels and closed above 1.59. This week’s scary news from North Korea ignited risk … “Pound at Higher Ground – The Road North is Open”
Author: admin_mm
Brazilian Real Continues Rise on Current Account Surplus
The Brazilian currency had the sharpest rise in seven days after the countrys first current account surplus in 19 months was posted this week, pushing the national equities market up. After 19 months in deficit, the Brazilian current account, which is the broadest measure of a countrys trading activity, had a surplus of $146 million, pushed mainly by a recovery in commodity prices together with a decrease in multinational companies profit remittances. The … “Brazilian Real Continues Rise on Current Account Surplus”
Yen Slides on U.S. Economy Recovery
After a rebound in the North American consumer confidence, Asian stocks rallied, decreasing demand for safer investments such as the Japanese yen. The yen lost ground against currencies like the South Korean won and the Taiwanese dollar on speculations that today, a report will indicate a rise in the current home sales in the United States, which would be another evidence that the global … “Yen Slides on U.S. Economy Recovery”
Yuan Falls as China Doesn’t Want Appreciation
The Chinese yuan declined at a fastest pace during the last two months as the countrys central bank lowered the reference exchange rate to stimulate the exporting industry. The Chinas yuan lost about 0.1 percent during one day today after the Peoples Bank of China fixed the reference exchange rate of the yuan to the U.S. dollar at 6.8285 — down by 0.07 percent compared to the previous rate. China uses … “Yuan Falls as China Doesn’t Want Appreciation”
Yen Falls Against Dollar on North Korean Nuclear Blast
The Japanese yen declined against the U.S. dollar and the euro as the North Korea tested its nuclear bomb, increasing the political tension in the region and the global risk-aversion, while making yen a less attractive asset. The regions security was questioned by the traders and investors as they sold the Japanese yen and the Australian dollar. The Democratic Peoples Republic of Korea … “Yen Falls Against Dollar on North Korean Nuclear Blast”
Contraction or Retraction? US Dollar Outlook
The US dollar collapsed last week against lots of currencies. This week, American figures stand out in the economic calendar, with Prelim GDP being the last and most important figure. Will American contraction squeeze? How will Consumer Confidence, Home Sales (Existing and New), Durable Goods Orders. and the GDP move dollar this week? Outlook for the beaten … “Contraction or Retraction? US Dollar Outlook”
Pound at New Ground – What’s Next?
GBP/USD broke a few resistance lines on the way up. It seems like the sky is the limit, but will it take a break? Nationwide HPI and CB Realized Sales are some of the key events for the Pound. Let’s see how this week unfold, and what technical levels await cable. GBP/USD had a rollercoaster week, … “Pound at New Ground – What’s Next?”
Canadian Dollar Wins Important Week
The Canadian dollar made huge gains against the US dollar this week. USD/CAD has a new direction – south. This happened on ok data in Canada, and the greenback’s weakness across the board. Here’s a roundup, and a look forward. As I wrote at the beginning of the week, it indeed was an important week … “Canadian Dollar Wins Important Week”
Pound Rollercoaster Roundup
This was one hell of a week for the British Pound. Different forces moved it up and down. Here’s a summary of this week’s events. What can we learn for next week? The British Pound got some expected and unexpected news this week. I’ve covered the event in my post Will Retail Sales and GDP Send … “Pound Rollercoaster Roundup”
Dollar Down to January Levels on Credit Rating Concerns
The dollar fell to the lowest level against the euro since early January as the S&P credit rating agency revised U.K. rating outlook and traders are afraid that the U.S. will be next. The euro rose against both the U.S. dollar and the British pound today as the possible credit rating downgrade is one of the worst events for the debt-relying economies and currencies of both the United States and the United Kingdom. The Japanese yen also rose against the dollar and the pound, additionally … “Dollar Down to January Levels on Credit Rating Concerns”