GBPUSD may be forming a cycle bottom at 1.5326 level on 4-hour chart. Key resistance is at 1.5597, a break above this level will confirm the cycle...
GBPUSD may be forming a cycle bottom at 1.5326
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Cable extends rally
Cable is seeing acclerated gains this morning, presently at 1.6140. Buy stops are said to have been triggered on breach of 1.6100. Sterling is being bolstered by improving housing data and by the fact PM Gordon looks safe for now. There is also al ot of speculation that sterling is being boosted by...
USDJPY continues its downward movement from 94.68
USDJPY continues its downward movement from 94.68 and the fall has reached as low as 91.87 level. Deeper decline is still possible in a couple...
New York forex wrap up; Dollar firms as reflation trade falters
New York Fed’s Empire State index falls to -9.41 from -4.55 IMF considers making its bonds tradeable IMF: US returns to growth in 2010 IMF”s Lipsky: Dollar to remain reserve currency “as far as we can see” Geithner: Economy in early stages of recovery ECB’s Wellink:...
Majors steady in early interbank trade
All of the majors are at their NY closing levels from Friday. The market will try to digest the volatile moves from Friday night before settling on its next move. I expect Asia to trade most of the majors in 100 pip ranges. It’s a relatively quiet day on the economic data...
Japanese FinMin says USD to remain reserve currency
Japanese Finance Minister Yosano is on the newswires reiterating his opinion that the USD will remain the world’s reserve...