The European elections did not go well for Gordon Brown’s Labour party but you are going to have to make your own mind up as to whether this is good or bad for the pound, as I’m not too sure. Cable has topped out at 1.66 and falls back towards 1.50 look on the cards but the uptrend recovery is still strong and if the market senses that a change of government may be on the cards in the UK, then that might be a signal for another sterling rally.
Labour facing disastrous election results
Source: www.forexlive.com
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Daily Forex Analysis - June 15, 2009
Being contained by 1.6662 previous high resistance, GBPUSD pulled back from 1.6618 last week. Range trading between 1.6240 and 1.6662 could be seen later ... See all stories on this...
Forex: GBP/USD falls further to 1.6410
Dollar is getting stronger across the board with the exception of the Yen on a big sell-off in equities. GBP/USD fell after the opening bell to 1.6415 (intra-day low). From there rebounded sharply and rose back above 1.6500 but failed to hold and regained the downside. After finding resistance at...
German credit crunch deepening
This is the headline on another AEP article and thanks to Saferanger for the lead. Ambrose is as always very bearish on Europe but if the facts stack up, tough credit conditions will not ease the recovery prospects for the vital manufacturing sector. Perhaps some of them are profitable...
Weekly Forex Market Forecast (October 24th – October 28th 2011)
By Michael Trinkle, ForexTraders Key Fundamental Forex Events and Forecasts for the Coming Week The following table lists the key economic data and other events that are due out during the week of October 24th – 28th, with release times displayed for the GMT time zone. The list also includes the...
FOREX-Dollar recovers some ground; Swiss franc falls
The dollar recovered on Friday from its declines the previous day on the back of solid U.S. growth figures, while the Swiss franc fell sharply on market jitters of suspected intervention. Traders said the market was nervous about intervention by or on behalf of the Swiss National Bank to keep the...