By Forex District -
The pair fell sharply as the IMF warned UK on public borrowing and was downbeat on the growth outlook. The IMF said, “the economic downturn heightening the risk of further large credit losses, banks have tightened the supply of credit. The high level of household indebtedness is also likely to constrain the pace of economic recovery.” They predict GDP to fall by 4.25% in 2009, with quarterly growth picking up gradually through 2010. “The speed and strength of the recovery, however, remain highly uncertain, given the unprecedented nature of the crisis and the importance of confidence effects.”
The continued stress over a CIT Group bankruptcy, fear over Indonesia’s bombings, and a cautious stance ahead of more U.S. bank earnings also put pressure on the Sterling. Read More
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By FXStreet – The Dollar is calm across the board. In Wall Street results are mixed: the Dow Jones is down 0.1% and the Nasdaq rises 0.15%. EUR/USD is moving sideways in a small range between 1.4100 and 1.4125. Earlier the Euro rose to a two-week high at 1.4163 but failed to stay above and ... ...
By Daily FX – The New Zealand Dollar fell sharply late into the overnight session as credit rating agency Fitch downgraded the smaller antipode’s long-term credit rating to “negative” and warned the country could fall into a “low growth trap”. A slew of earnings reports from top companies including Carrefour and SAP are likely to .....
By NoBrainerTrades – The below list comprises a number of different observations of myself and others through experience working with traders of all shapes and sizes, and is equally relevant to all. Some of the information is rehashed and/or might sound cliche, but here it is: They are experienced – Probably the most horrifying and ... ...
By FXDD – The AUDUSD has fallen back below the 0.8036 level which represented the high from July 7th. The pair has tested the 100 bar moving average at the 0.8013 level and will need to be broken to continue the downside correction. If broken the target will look toward the 0.7981 level which represented ... ...
By Forex District – Retail traders tend to be quite independent souls. We like to make our own decisions, hit the trigger or not hit the trigger; long or short; which pair today; what position size; what strategy; do our own homework. Being in charge of our own coin, having the latitude to make our ... ...
By Forex District – The pair is slightly higher but having a hard time above 1.4000. The Euro rose ahead of the German ZEW economic sentiment as risk appetite spurred demand for the currency and investors anticipated an advance in the index. However, the pair dropped around 30 pips as the data came in much ... ...
By Back Bay FX – We have held a long-term bullish view on the USD since the Federal Reserve’s June 24 FOMC statement. Our view has been tested in the early days of July, but we remain convinced that EUR/USD and GBP/USD will fall. Our reasoning stemmed from the FOMC statement and the actions of ... ...
By Forex District – The Dollar and the Yen advanced against higher yielding currencies as concerns mount over the quickness of the global economic recovery. Even as Government stimulus packages and enormous liquidity measures by Central Banks have been implemented, the economic slump is not expected to be followed by a sharp and sustained reb...
By Forex District – USD/JPY Open 92.40 High 93.18 Low 91.72 Close 92.52 On Friday Dollar/Yen continued descending. The currency couple made a peak at 93.18, than collapsed down to 92.02, closing the week higher at 92.52. The longer the pair stays under 92.50, each upward movement is considered as a normal correction, and our ... ...