Cable has advanced to 1.6040 at writing. Some more good news on the UK housing front. House prices in England and Wales fell at their slowest annual pace in 1 1/2 years in the 3 months to May and completed sales hit a 9-month high. The Royal Institute of Chartered Surveyors, (RICS) monthly house price balance rose to -44.1 last month, its best reading since November 2007, from -58.7 in April, much better than the median forecast of -51.0. Technical resistances now 1.6075 and 1.6095/00.
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Cable ticks higher in early European trade
June 9 2009, 8:42am | Comments »
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EUR/USD touch easier in early European trade
EUR/USD is a little easier in early European trade, presently at 1.3965. The improved USD sentiment we saw Friday seems to be lingering. The unexpected improvement in U.S. non-farm payrolls Friday is leading some to believe it won’t be too long before we see official US rates headed higher. At the same time, there is a feeling in certain quarters that the yield back up could prompt the Fed to quit buying treasuries if it is seen to be rooted in economic optimism. The worrying situation in the Baltics will also be weighing on EUR/USD. Technical support is at present 1.3965 and below there at 1.3925/30, resistance up at 1.4000/10.
June 8 2009, 9:02am | Comments »
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