Category: Forex News
The King Wants and Gets a Weak Pound
Mervyn King continues to dominate the Pound’s agenda, and not in a positive way. His big hints about more QE pound the pound as it makes another attempt to break the support line. The governor of the Bank of England, Mervyn King, hurt the Pound once again. In his appearance in parliament, the agenda was
Currensee Raises $8M for Expansion Outside the US
Social forex site Currensee got new funding from investors. These funds will fuel expansion into the UK, Europe and Asia, development of the platform and the Trade Leaders program in which you can follow and mimic real trades of successful traders. Raising money for start ups isn’t so common since the breakout of the financial crisis.
Fed Mini-Hike – Which Currencies Are More Vulnerable
Ben Bernanke surprised everybody with a hike of the Fed’s discount rate. The response was immediate and shook all the markets. Some currencies weathered the storm, while others are at critical spots. Here’s a quick damage control. The Federal Reserve only raised the special discount rates for banks, and said that businesses and households won’t
British Employment – A Bitter Disappointment for the Pound
The turnaround in the British job market is in doubt, similar to the economy’s growth. The number of unemployed Brits leaped, hurting the Pound’s cautious recovery. Let’s see the numbers: British Claimant Count Change, which is an early and important indicator of employment, showed a big rise in the number of unemployed people – 23,400.
EUR/USD Falls on Stagnant Europe
EUR/USD breaks to a new 9 month low after GDP is very worrying. An no – the Greek crisis is far from over. Next stop – 1.3420. European GDP figures were very disappointing. Germany’s economy didn’t grow in Q4. This followed weak growth in Q3. According to the initial release, the German economy stalled. This
Aussie Fights Back
The Australian dollar reminded us of its strength, riding north on another round of good employment figures. It’s now approaching an important resistance line. An update on this strong currency. The Australian unemployment rate fell to the lowest level in 11 months: only 5.3%. This exceeded expectations for a small rise from 5.5% to 5.6%.
EUR/GBP – Reasons to Rise
EUR/GBP is enjoying new European hopes and disappointing British events. It’s now close to an important line and it erases the big move it made. Here’s a quick update. EUR/GBP now trades around 0.88, close to the 0.8840 resistance line. It already peaked twice at 0.8820. 0.8840 was broken a few weeks ago, and it
GBP/JPY in a Tight Spot
GBP/JPY made a big break downwards and is now hanging around a critical point. This volatile pair doesn’t stay too long in a narrow range. An update about the dragon. GBP/JPY fell on Thursday from 144 to 139 in a matter of hours. Most currency pairs don’t see a 500 pip movement in a short
Video Weekly Outlook – Dollar Strength to Continue
In the weekly forex outlook on Forex TV, I spoke with Julie Sinha about the continuing dollar strength, the position of the kiwi dollar and the calendar, following the dollar’s storm last week, which came to a peak after the nonfarm payrolls. Enjoy the video! Want to see what other traders are doing in real
Dollar Emerges as the Winner Out of the Confusing NFP
American job figures came out very confusing. After some choppy trading, the market focuses on the bright side of the data and the dollar continues to rally. Note: This was initially written at 14:15 GMT. I’ll update this post as events unfold. Non-Farm Payrolls didn’t deliver a positive number. The US job market lost 20,000