UK GDP Very Disappointing
UK surprised the markets by reporting that Q4 10 GDP did not expand slowly as the consensus expected, but actually contracted by 0.5%. The economy last contracted in Q3 09. A full breakdown of the report is not made available until the next report in late February. However, the preliminary numbers suggest that the service [...]
GBPUSD setting itself for a dip…
GBPUSD seems to be setting itself for another dip towards 1.4810 level and test that level again. Before doing so it is taking some correction and if GBPUSD rises to something around 1.5000 level, then it will be an ideal situation for traders to sell GBPUSD for targets around 1.4810 level. Break of 1.4810 will [...]
GBP/USD quickly advancing on new 9-month low…
The GBP is rapidly falling and soon to approach a fresh, 9-month low against the USD dollar which was set yesterday at 1.5189. This downward fall is due to the pair (GBP/USD) recently breaking through the 1.5240 support. We can report that Valeria Bednarik who is an independent analyst for FXStreet.com that: “The pound remains [...]
Pound edges upwards against the Dollar
Tuesday, January 19, 2010 In the early Asian trading session today, The British Pound gained versus the Dollar which lost ground against a host of other currencies as well. The Pounds trading picked up from $1.6341 on Mondays closing to trade at $1.6424 today, a reported 6 week low. Riding on the wave of the [...]
Pound rising on interest rate expectation
The British pound rose today for the 4th straight day this year, after a losing session in the first week of the year. The BoE suggested that there may be a need to increase interest rates this year, which sparked trader interest in the currency. The Pound touched a low of 1.5895 on Jan 7 [...]
EuroZone upbeat on positive economic data
The Euro today declined from the high of 1.4440 which was made on December 31, 2009, to take a rebound beyond 1.4335, last seen around 1.4350, as fresh Manufacturing data lent confidence that the Euro Zone economy was upbeat. The Euro Zone manufacturing PMI rose slightly to 51.6 in December compared to the previous month, [...]
Roller Coaster Sterling
November 11, 2009 12:25 GMT The Sterling rose against the Greenback after news that Britain’s unemployment rate had decreased. UK Jobless Claims Change results indicated that the unemployment rate in Great Britain has decreased () despite expectations of an increase. For the last three months, the unemployment rate recorded showed a fall from 7.9% to [...]
Twinkling Star Sterling on the Upswing
Thursday, 22nd October, 2009, 11:22 GMT The prospect of higher interest rates was highlighted by BoE Governor, Mervyn King in his speech last night. Policy makers of the BOE resolved not to change their asset purchase program and maintain the record low interest rate of 0.50%. Member of Bank of England, Tucker also conveyed the [...]
Euro, GBP, JPY, USD – Currency Major Update
Currency Major Update 13th October 2009, 0910 GMT Euro The Euro continued its bull run against all major currencies following strong corporate earnings and some improvement in employment figures. It is still in uptrend and may peak higher in the future as European Central banks shift massive reserves into the Euro. Retail sales are improving [...]
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