By Fast Brokers - The Cable continues its brisk climb, forming a v-shaped recovery from last week’s pullback. The currency pair is [...]
GBP/USD Rises to the Challenge of our 3rd Tier Downtrend Line
Source: feedproxy.google.com
Read more...
China May Consumer Prices -1.4%, Producer Prices -7.2%
China’s consumer prices fell 1.4% yoy in May, the fourth consecutive month of deflation. Expectations were for a fall of 1.3%. China’s producer prices fell 7.2% in the year to May, much greater than the forecast of 6.8%. However most economists are relaxed about the fall, seeing it as a...
Cable touch firmer early
Cable is a little firmer in early European trade, presently at 1.6345. General risk sentiment is in pretty good shape, while the USD is struggling as the realisation grows that we’re not likely to see an early US rate hike. Recent improved UK housing data and PM Brown’s political...
US Wholesale inventories hit lowest level since September 2007
US April Wholesale inventories were lower than expected down 1.4% to reach their lowest level since Sep 2007. Wholesale sales also fell, down 0.4% to their lowest level since November 2005. Also realeased was the IBD Economic optimism index which rose to 50.8 in June from 48.6 in May. This puts the...
EUR/JPY stalls at crucial 137.43 level
EUR/JPY has seen a fair bit of profit-taking as prices reached important resistance at 137.43. Failing to overcome that level, traders were quick to book profits and send the cross quickly back to the 137.00 area. No surprise, there is talk of a 137.50 barrier being defended. I can’t remember...
Nikkei breaks 10,000
The Nikkei has broken thru the 10,000 mark, a level that hasnt been seen since October last...