Being supported by the rising trend line from 1.4346 (Jun 8 low) to 1.5124, GBPUSD rebounded from 1.5535 level. Now the pair is forming a cycle...
GBPUSD rebounded from 1.5535
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Australia holds interest rate at 3.00%. Current Account deficit falls. AUD higher in Fx.
Tuesday, June 2nd - The Reserve Bank of Australia decided to hold its interest rate at its lowest standing since 1960 at 3.00...
The dollar reserve currency conundrum
With India purchasing of 200 tonnes of gold from the IMF for US$ 6.7 billion last week — a far cry from the 67 tonnes of gold that India had to humiliatingly pledge in 1991 to stave off an imminent forex crisis — the debate on the need to diversify the forex reserves of the surplus countries...
Saab finds a buyer; flows look minimal
Saab, the GM-owned Swedish car-maker, looks like it has finally found a home. A group led by a Swedish car-maker I’ve never heard of Koenigsegg will acquire the brand, according to CNBC. It looks like they will assume gobs of debt, though very little cash will change hands. It is unlikely to...
The Greenback Rose After Strong Economic Data
The release of strong economic data from the U.S. economy led to a stock market rally in the U.S. and the rest of the world. This led to strong implications for the Dollar. The Dollar rose against the Yen, whilst dropping against the British Pound. However, there was very little movement against...
GBPUSD broke below 1.6215 support
GBPUSD broke below 1.6215 support, suggesting that a cycle top has been formed at 1.6343 level on 4-hour chart. Pullback towards the uptrend...