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 [...]
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 [...]
Forex Daily Outlook – August 11 2010
U.S. and Canada’s Trade Balance followed by British Jobless Claims are the major activities today. Here is an outlook on the market moving events. In the US, American Trade Balance deficit is expected to decrease from 42.3B to 42.0B following the worse than expected deficit increase in May.
Forex Weekly Outlook – August 9-13
The big event this week is the American rate decision, holding expectations for new easing steps – expectations that already hurt the greenback. Apart from this event, we have employment figures in Britain and Australia, European GDP and lots more. Here’s an outlook for the major market moving events in the upcoming week. Note that [...]
GBP/USD Outlook – August 9-13
Employment data and King’s report about inflation are the limelight of this week’s events. Here’s an outlook for the events that will rock the Pound, and an updated technical analysis for GBP/USD. GBP/USD chart with support and resistance lines marked. Click to enlarge: The British Pound made another nice week of rises. Will this continue? [...]
GBP/USD Outlook – August 2-6
A very busy week expects cable traders, with 9 important events. The rate decision is the peak but other data will also rock the rising Pound. 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 on it. Click to enlarge: In the [...]
The Pound rises by orders from the King
Mervyn King finally changed his tone about inflation, and sent the British Pound above a critical resistance line. Update on the rising sterling.
Forex Daily Outlook – July 28 2010
Important and interested news today, in the US Durable Goods Orders, in Australia some changes in the CPI and Trimmed Mean CPI, let’s see what await us today. In the US Durable Goods Orders, a leading indicator of economic activity measuring durable goods orders placed with domestic manufacturers, The U.S. manufacturers may need to speed [...]
GBP/USD Outlook – July 26-30
A more quiet week in terms of indicators expects the Pound, but Mervyn King’s public appearance could rock the currency. Here’s an outlook for the 4 events that will move the currency, and an updated technical analysis for GBP/USD. GBP/USD chart with support and resistance lines on it. Click to enlarge: A rate hike in [...]
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