Post Tagged with: "Mervyn King"
Forex Daily Outlook – February 26th 2009
Lots of data is due today, with 3 major releases in the US: Core Durable Goods Orders, Unemployment Claims and New Home Sales. Important figures are also released in Britain and New Zealand. Take a deep breath… In Australia, Private Capital Expenditure rose by 6%, much much better than expected (-3.1%). AUD/USD now trades at 0.6470.
Forex Weekly Outlook – February 23-27 2009
The upcoming week features a few major releases: German Ifo Business Climate and CBI Realized Sales on Tuesday, British Revised GDP and American Existing Home Sales on Wednesday, British Nationwide HPI and Core Durable Goods Orders on Thursday and the American Prelim GDP on Friday. And of course there’s lots more. After gaining throughout the whole week just to lose everything on
Forex Daily Analysis – February 12th 2009
Data from Australia, Europe and the US dominates today’s economic indicators. Core Retails Sales, the main figure for the day in the US, will also be published in New Zealand. The British pound, which has taken a blow from Mervyn King yesterday, expects a quiet day today. Australia’s employment data was mixed: Employment Change was
Forex Weekly Outlook – February 9-13 2009
The second week of February begins in a slow pace, with more speeches than real economic data. It gradually gains pace, with Trade Balance in Canada and the US on Wednesday, Australian Employment Data on Thursday, and American Retail Sales on Thursday. On Friday 13th, European GDP will dominate the day, as well as UoM
EUR/GBP Broke Support After Rate Decisions
The Bank of England and the ECB made their expected decisions: BoE lowered the interest rate to 1%, and Jean Claude Trichet left the interest rate unchanged at 2%. The immediate result in the forex market was a big drop of EUR/GBP, currently trading at 0.8780. When looking at the hourly forex charts for the
GBP/USD Parity in 2009?
GBP/USD Parity in 2009? Yes, it sounds quite wild. While parity between the pound and the dollar never happened, the global crisis is so deep, that this is an option. GBP/USD in history The last time that GBP/USD has seen such levels was back in 1985. In September 1985, while there were riots in Brixton,
Forex Daily Analysis – Januray 20th 2009
Today is a historic day in the USA: Barack Obama, the first black president, will be inaugurated as the president. I’ve already written about how Obama’s inauguration is affecting Forex trading. It seems that wheels are already in motion: the USD strengthens against most of the currencies. EUR/USD fell below 1.30, to 1.2967. GBP/USD broke
Forex Weekly Outlook – January 19-23 2009
Before the new week begins, there were major events during the weekend. The Gaza war is nearing its end, with a unilateral cease fire declaration by Israel. If it holds, the ending of this conflict in Gaza will impact oil prices, stock prices, and forex trading, especially USD/CAD and AUD/USD. More about the Gaza cease
Forex Daily Analysis – January 8th 2009
Big day today in the Forex market: The BOE will publish new interest rates in Britain, Ivey PMI in Canada, Unemployment Claims in the US, and many important speeches. Oil prices fell yesterday to$42.23 after the Crude Oil Inventories rose to 6.7M, much higher than expected. This large storage of oil eases oil prices, and weakens
EUR/GBP Drifting Away From Parity
Parity in the EUR/GBP surrency pair seemed very close during the 2 weeks of partial holiday in the Forex market. The EUR/GBP cross was already above 0.98, but now it fell back to 0.90. The bad state of the British economy, and the sharp measures of the BOE took the pound down against the dollar.