Cable is at 1.6410, up from a North American close Wednesday around 1.6350. The pairing is benefitting from a generally weaker greenback, strong risk appetite, and hope in certain quarters that the UK recession may have ended in March. On the last part, I hope they’re right, but am certainly not convinced. Technical supports 1.6395.00 and 1.6345/50, resistances at 1.6430/35 and 1.6450/55.
Cable opens firmer in Europe
Source: www.forexlive.com
Read more...
Risk aversion returns as Euro threatens 1.3000 level
By TraderVox.com Tradervox (Dublin) - Euro continued its downslide against the US dollar during the US session as Euro is threatening the...
Monetary Policy Week in Review – 12 May 2012
By Central Bank News The past week in monetary policy saw three central banks announcing interest rate changes: Poland increased 25 basis points...
U.S. Non-Farm Employment Change Data to Dominate USD Trading
By Forex Yard - Today's U.S. Non-Farm Employment Change data release is set to dominate the trading between the...
AUD/USD short term technicals
The overall trend on the hourly chart is neutral. Potential resistance at .8070 in the form of a Fibo, trend line. Support is at last nighs .7965 low. Looks like a range trading market to me, buy dips, sell...
Not happy, Rio!
This article from the English version of the Xinhua newspaper shows just how upset the Chinese are at Rio pulling out of it’s agreed deal. Trust, once lost, is very difficult to regain and there may be wider repercussions for the Australian mining...