Since the beginning of the year – a mere 20 trading days , the British Pound has gained almost 700 pips against the US dollar and looked set to continue its upwards trajectory with a move back to re-test the November 2010 high of USD1.6299....
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Euro forecast for next few weeks
Another interesting week for us as euro bears, with the single currency ending at a two month high against the US dollar, as well as posting strong rebounds against many of the currency cross pairs. Last week’s performance was of course against the backdrop of...
Chinese GDP worries forex markets
The fundamental news overnight was all about China, as equity markets stumbled yesterday in Europe and the US ahead of the data, with the FTSE 100 in London ending the trading session with a bearish engulfing candle signalling a potential move lower today. The data...
Another day of bullish euro sentiment
Another day and another dollar, well not quite, as the euro continues it’s recent bullish reversal higher overnight once again, fuelled by Chinese buying, and relief that the Ecofin meeting has now concluded, although precious little was agreed. The fundamental issues still remain, with the...
Bullish momentum for Cable continues
Last week’s bullish momentum for the UK pound has spilled over into the London trading session this morning, and despite the US markets being closed in observance of Martin Luther King Jr Day, the pair have broken through the psychological 1.5900 level to trade at...
Forex market news this morning
A quiet start to the forex trading week with the US markets closed today in observance of Martin Luther King day, and therefore we can expect thin market trading conditions with low volumes, and volatile moves as a result. With very little real news to...
Outlook for the EUR/USD this week
The tricky trading conditions of last year, seem to have continued into 2011, with last week’s volatile price action with the euro summing up the current trading picture, with currencies swinging from bearish to bullish within a few days. Nothing new there you might say,...
Euro bears squeezed but for how long?
An interesting day yesterday, with interest rate decisions in both the UK and Europe dominating forex markets, coupled with the recent bond auctions in Portugal and Spain which passed off without any major panic. However, it was Europe that took centre stage, not because of...
BOE and ECB rate decisions today
With yesterday’s Portuguese bond auction now safely negotiated, and the collective markets having breathed a sigh of relief with the euro gaining solidly as a result, attention today will be focused on the UK and Europe, as they issue their monthly rate decisions, along with...
Forex markets regain some composure
At the best of times, movements in the forex markets are notoriously difficult to explain, much less predict, and last year was a particularly difficult, as forex traders tried to interpret conflicting and incoherent macro economic decisions from around the world. Leading the way of...
