Yesterday’s trading was characterized with high optimism regarding global recovery. This optimism has boosted the European currencies, such as the euro and the pound, and weakened the relatively safer currencies – the US dollar and Japanese yen.
GBPUSD: The GBP surge, since bottoming at 1.43 in mid May has been impressive to say the least. We have commented before that price action on the GBPUSD is fairly quick between a 1.50 and 1.60 handle.
The JPY continues to trade near the highest realms of its value against the USD as Asian bourses, particularly the Nikkei recently, have taken a cautious approach. The JPY serves as a good reminder that even as...
USDJPY: The JPY is clearly trending down as it makes lower highs and and lower lows (known as a Step Pattern). However, strong Resistance sits at 86.34, exactly where the JPY closed on Friday. The two long...
The USD continued to trade in a rather well defined range on Thursday. The U.S. released weekly Unemployment Claims that came in a little better than expected, but quarterly earnings from corporate America disappointed investors and this...
A day of range trading was experienced on Wednesday as the markets tried to interpret rather disappointing data and news from the States. Core Durable Goods turned in a disappointing drop of minus -0.6% compared to the...
Another day of rather tight range trading met the EUR on Wednesday. Cautious trading has been a highlight of the past two days. The German Prelim CPI numbers met expectations head on yesterday with a result of...
The Bank of England was in the spotlight yesterday as Governor Mervyn King and other members testified. The BoE warned that the risks to the economy remain tangible and that while it agrees on interest rate policy,...
The JPY moved in a consolidated manner versus the USD on Wednesday. This as Asian bourses mirrored their counterparts and struggled following the lackluster data from the States.
USDCAD: There is always a period of hightened volatility when a pair trades through the moving averages as it typically triggers position realignments. When a pair remains within the major moving average’s range the volatility extends itself...
