Dec 23
Today the EUR/USD pair has shown strength and is slightly up at the 1.4252 level, at the time of writing. Cable is currently down from its open of 1.5961 and is currently down at the 1.5940 mark. Yesterday, economists declared that the biggest Sterling devaluation since the collapse of the Gold Standard in the 1930s is starting to reap rewards, as the new figures have started to show a radical improvement in Britain’s current account and household balance sheets. In the latest Bank of England minutes, Index of services 3m/3m, BBA loans for house purchase for November expected 43,000. Interesting article in Daily Mail posted earlier touting possibility of further QE. The USD/JPY pair has dropped down to the 91.80 level.
Due for release today is the GBP – MPC Meeting Minutes, CAD – GDP m/m and USD New Home Sales.
By Ultimate Forex Profits
Dec 21
Today, the EUR/USD pair has shown strength currently up from its open of 1.4338 and is around the 1.4339 level. The German economy is likely to remain on recovery path despite easing global stimulus. Despite euro strength, rising exports, falling imports point to trade boosting Q4 GDP. Cable has recovered earlier losses and is now just below it open at the 1.6147 level. Britain could be at risk of a mass sell-off of distressed properties that would send values into a double dip and impair the lending ability of banks. The JPY/USD pair has shown weakness this morning and is currently down at the 90.37 level.
Due for release today is the CAD Core Retail Sales m/m and the NZD Current Account.
By Ultimate Forex Profits
Dec 16
Following a series of losses, today the EUR/USD has shown strength currently up at the 1.4554 mark. Cable has shown weakness this morning currently down at around the 1.6248 mark. The JPY/USD pair has shown strength up at 89.82 from its open of 89.59.
Due for release today is the GBP Claimant Count Change, USD Building Permits, USD Core CPI, USD FOMC Statement, USD Federal Funds Rate and NBNZ Business Confidence.
By Ultimate Forex Profits
Dec 10
At 0420 BST today, the GBP is trading 0.1% lower against the USD at $1.6262, 0.1% higher against the EUR at €1.105 and 0.4% lower against the JPY at ¥142.81.
At 0420 BST today, the GBP is trading 0.1% lower against the USD at $1.6262, 0.1% higher against the EUR at €1.105 and 0.4% lower against the JPY at ¥142.81. The Bank of England is expected to continue with its plan to spend £200 billion on bonds.
The EUR is trading 0.2% lower against the USD at $1.4711.
The EUR is trading 0.4% lower against the JPY at ¥129.22, amid weakness in the Asian equity markets.
The AUD is trading higher against the USD, after the unemployment rate in Australia fell for the third straight month in November to 5.7%, better than the forecast of 5.9%.
Yesterday, the GBP ended lower against euro, after UK’s trade deficit widened to a higher than forecasted level.
The USD fell against the major currencies, as gains in the US equities prompted investors to shift bets to higher yielding assets.
The CAD gained against the USD, on speculation that the recent decline in the currency was overdone.
Posted by Ultimate Forex Profits
Dec 09
At 0420 BST today, the GBP is trading 0.1% higher against the USD at $1.6250, 0.1% lower against the EUR at €1.1037 and 0.1% up against the JPY at ¥143.73.
At 0420 BST today, the GBP is trading 0.1% higher against the USD at $1.6250, 0.1% lower against the EUR at €1.1037 and 0.1% up against the JPY at ¥143.73. According to Nationwide Building Society, UK consumer confidence remained near the highest level in 1 1/2 years in November, amid higher expectations from over the economy’s prospects in 2010. However, the currency remained under pressure, amid concerns that Dubai’s state-controlled companies would have to sell UK assets to pay for loan obligations.
The EUR is trading 0.2% higher against the USD at $1.4721. However, gains in the EUR may come under pressure, amid speculation that credit ratings of more European nations would be cut, after Greece’s debt ranking was lowered by Fitch Ratings.
The EUR is trading 0.3% higher against the JPY at ¥130.22, amid speculation that the Bank of Japan would take more credit-easing measures, after Japan’s economy grew less than earlier estimated in the third quarter.
Yesterday, the GBP ended lower against the USD, as Moody’s Investors Service warned that the top debt rating on the UK may come under pressure, as public finances are worsening. The currency extended declines, as UK manufacturing unexpectedly stalled in October. Meanwhile, Halifax reported that UK house prices rose 1.4% to an average of £167,664, compared to a gain of 1.2% in October.
The USD gained against the EUR and GBP, as ongoing debt worries in Dubai and credit rating downgrade for Greece spurred inflows in safe haven assets.
Posted by Ultimate Forex Profits
