Fundamental Overview – Market Movers Last Week – 8/30/2010

Guest post by ForexTraders.com The U.S. Dollar turned in a mixed performance last week without moving much against any of the other major currencies. Traders reported that the primary boost to the Dollar’s fortunes versus the Euro and Pound Sterling was the news out last Tuesday that the Standard and Poor’s rating agency had downgraded Ireland’s [...]

GBP/USD Outlook – August 30 – September 3

The upcoming week is packed with events, with PMI figures in the limelight. Here’s an outlook for the British events, and an updated technical analysis for GBP/USD. GBP/USD daily chart with support and resistance lines marked. Click to enlarge: The Pound dived lower in the past week, but managed to recover, with a boost coming [...]

US GDP Sharply Revised Downwards – Trading Remains Tight

The second release of GDP for the second quarter was indeed bad – a downwards revision from 2.4% to 1.6%, slightly better than a revision to 1.5%. The initial reaction was dollar positive, but this was quickly erased. EUR/USD was down from 1.2720 (almost the resistance line) to 1.27. This drop was very limited and [...]

Improved British Growth Doesn’t Cheer Pound

British growth for the second quarter was unexpectedly  revised to 1.2%. These good news lifted GBP/USD lifted the Pound only for a short period of time. Worries about the future and the upcoming second release of GDP for the US loom. Update on cable. British GDP already posted a big surprise in the first release [...]

Fundamental Overview – Market Movers Last Week – 8/23/2010

Guest post by ForexTraders.com The U.S. Dollar did not move much last week, and showed mixed results overall in terms of its performance against the other major currencies. Traders reported that the primary shock to the Dollar’s fortunes was the news out last Thursday that U.S. Initial Jobless Claims had risen to the psychological 500K mark [...]

GBP/USD Outlook – August 23-27

A relatively light week expects cable traders, yet the GDP release will definitely create waves for quite some time. Here’s an outlook for the British events, and an updated technical analysis for GBP/USD. GBP/USD chart with support and resistance lines marked. Click to enlarge: While inflation slides gradually back into target, there’s still one member [...]

GBP/USD Bounces Off Support Line on Meeting Minutes

The meeting minutes from the last meeting of the BoE showed that there’s still one member voting for a rate hike. This helped GBP/USD bounce off the support line, after it got very close to it. Update on the Pound. Andrew Sentance continues to vote for a rate hike. He’s still the only member out [...]

British Inflation Sliding Towards Target

British consumer prices are still above target. CPI dropped from 3.2% to 3.1%, exactly as expected. Other inflation related figures were softer than predicted, and the immediate reaction of the Pound was a small drop. Core CPI unexpectedly dropped from 3.1% to 2.6%, showing that the higher inflation isn’t really strong. Also the RPI (Retail [...]

Fundamental Overview – Market Movers Last Week – 8/16/2010

Guest post by ForexTraders.com The U.S. Dollar’s fortunes reversed considerably last week, as the Greenback rallied on increased risk aversion after China showed disappointing import figures. Also helping the Dollar’s fortunes was the FOMC’s indication that the Fed would be buying long term Treasuries with repayments from agency debt and mortgage backed securities. The Greenback gained [...]

Pound Gets Bad News – Loses Support

With disappointing employment figures and a lower growth forecast, GBP/USD loses another support line. Risk aversive trading adds to the move. Update on the Pound. Claimant Count Change, the first and most important employment figure in Britain showed a drop of only 3800 unemployed people in July, much less than 17,00 that was expected. This [...]

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