Analysts said BNP Paribas, in the medium term decline of the British pound will continue. However, note in the bank, now the main theme is the weakening U.S. currency. Pound / dollar is now trading near the bank’s target level of 1.5990 – if the couple overcome this mark, then the growth may continue until the level of 1.6110, where strategists believe the bank profitable sale pairs. At the moment couple pound / dollar traded at 1.5992.
Posts Tagged ‘Currency’
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Data on retail sales have supported the dollar
Posted by admin on October 14th, 2009
The report on retail sales drop in September, which turned out to be weaker than analysts expected has had a positive impact on the dollar, which currently continues to demonstrate the desire to recover some losses . However, dealers noted that interest in selling the U.S. currency is still strong enough to keep her from the more active correction. Currency strategists RBS, meanwhile, see the risks of further dollar decline, given the continuing concerns that the situation in the economy for some time will not allow the Fed to start raising rates.
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Trend Finder Daily Trading System
Posted by admin on October 13th, 2009
put this indicator in indicator folder here C:\Program Files\MetaTrader\experts\indicatorsStochHistogram.mq4Put this tpl file in the “templates folder” here C:\Program Files\MetaTrader\ templatestrend finder daily.tplChart Setup:Open a Daily Chart.Add the trend finder daily Template to the chart.Add a 200 Simple Moving Average.Buy Signal:1. Price is above the 200sma.2. The Awesome Oscillator has changed to green.3. The Stochastic Histogram has changed to green.Sell Signal:1. Price is Below the 200sma.2. The Awesome Oscillator has changed to red.3. The Stochastic Histogram has changed to red.Money Management and Exit Strategy:1. Open 2 trades which together risk no more than 3% of your total available balance.2. Set a stop loss of -100 pips for both trades.Trade 1: Set a take profit at +50 pips.Trade 2: Set a take profit at +100 pips.When you reach +50 pips, set the stop loss for the remaining trade to break even.Time frame- All Time framesCurrency pair- All pairsany Question about the system i am here to answerHAve A nICe tRADe
Bollinger Bandwidth MT4 Indicator
Posted by admin on October 12th, 2009
An investigation of the Bollinger band has shown that when the bandwidth (distance between the top and bottom bands) is below 4, the market is compressed and about to break out. When the bandwidth reaches 11, there is a strong wave for scalp trading.Between these numbers the currency pair is weak or compressed and has limited movement which might result in taking more losses than earnings. This indicator allows you to quickly see the value of the bandwidth and utilize it to your advantage. This is simply modified code of the original Bands.mq4 indicator.Tested on EUR/USD.
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Weak equities undermined the aussie’s upward trend yesterday allowing the pound to post marginal gains
Posted by admin on October 8th, 2009
The pound rebounded nearly two cents from its intra-day low against the aussie, halting its sharp slide and posting marginal gains of 0.2%, to close the day up at 1.7912. The Australian dollar has rallied strongly over the past two days following the surprise rate hike, but the aussie pulled backed yesterday as risk sentiment in the market dissipated. The high-yielding currency backtracked as equities took a downward turn and as investors sought defensive positions ahead of important statements in the UK and EU today. Additionally, analysts noted that market players may have over-bought the aussie, realising that it was only one central bank to raise rates and that similar moves from other nations may still be some way off.
Investors were cautious yesterday ahead of an ECB rate decision, but the euro has rebounded this morning
Posted by admin on October 8th, 2009
The euro relinquished some of its recent gains against the greenback yesterday, with investors on the defensive ahead of the ECB rate decision today. A broadly stronger dollar was the currency of choice yesterday as investors trimmed “riskier” positions in favour of the haven currency as equities slipped into the red, easing risk appetite.The dollar also benefited after a US official said raising interest rates would not derail the US economic recovery. “Even if we were to start immediately, much time would pass before incremental increases could be considered tight or even neutral policy.Additionally analysts noted that the greenback was being supported by speculation that the dollar’s decline may have been too fast to sustain.In trading this morning, the greenback has come under pressure after Australian employment data reinforced demand for higher-yielding assets. The ECB are widely expected to announce today at 12:45BST that interest rates in the eurozone will remain at a record low of 1.0%, though the tone of the accompanying statement is likely to reflect growing optimism over the state of economic recovery in the region.
A rise in risk aversion weighed on the pound on Friday, supporting dollar gains
Posted by admin on October 5th, 2009
The pound slid against the dollar on Friday, completing its third straight weekly decline, as demand for the haven currency found support from weak US employment data.In early trading, risk appetite was down, with investors taking up defensive positions ahead of an expected rise in US unemployment figures. However with weak data already priced into the market, the pound avoided a further sell off after data confirmed an increase in jobless figures that brought overall unemployment in the US to 9.8%. The data did trigger a sharp fall in major stock indices, with traders concerned that the global recovery is struggling to find momentum.
Weak US data sapped demand for the aussie yesterday, enabling the pound to gain
Posted by admin on October 2nd, 2009
The pound rebounded strongly yesterday, gaining over two cents, or 1.3%, as a sharp rise in risk aversion in the market, dulled demand for the ‘riskier’ currency. Both unemployment claims in the US and manufacturing data posted worse-than-expected figures, raising slight concerns over the rate of recovery in the world’s largest economy, and weakening demand for the higher yielding aussie. The negative US data was reflected in global stocks, which also took a steep downturn, with major indices loosing around two percent, which further reduced dollar selling, enabling the GBP/AUD price to rise.
Data revealed a growing confidence among New Zealand businesses, which has driven the pound down further
Posted by admin on October 1st, 2009
The pound reverted back to its downward trend against the kiwi in trading yesterday, losing 0.8% to close the day near last week’s lows at 2.2163. A strong jump in a New Zealand business confidence survey added to evidence that the economic recovery is gaining pace, supporting demand for the kiwi. The Reserve Bank of New Zealand published a bright economic outlook yesterday, which was also picked up on by investors with expectations for a rate rise strengthening. Additionally, in the US, the second quarter GDP figure was revised upward revealing that the economy had contracted by less than initially expected, which supported a move into riskier assets, although weak employment data did offset this trend slightly.
Weak US data yesterday afternoon strengthened dollar appeal, trimming sterling’s gains
Posted by admin on October 1st, 2009
A mixed bag of data in the US prevented the pound from sustaining early gains yesterday, eventually closing just 0.1% up on the day at $1.5980. The pound shot up against the dollar in early trading, posting an intra-day high of 1.6123, after an industry report showed consumer confidence in the U.K. jumped by the most in 14 years. But the greenback trimmed its losses after the ADP Non-farms employment data revealed a worse-than-expected change in US employment which eased risk appetite and returned investors to the haven currency. The sharp dip, was initially offset as more data revealed an upward revision in the US GDP figure to just a 0.7% contraction from a previous -1.0%, and beating forecasts of a downward revision.
Sterling fell just 0.03% against the kiwi yesterday, but has suffered in trading this morning
Posted by admin on September 29th, 2009
The pound slowed its rate of decline against the kiwi yesterday, falling just 0.03% as weak Asian trading dulled risk appetite.The pound slipped lower, but stemmed its rate of decline as demand for the higher-yielding currency was curbed following weaker trading on the Asian markets. Sterling has been broadly sold recently following comments from the King and BoE, however the strong European stocks prevented the pound from sliding too sharply yesterday. Major European and US stock indices climbed between 1 and 2%, firming up confidence in the global recovery, and lending slight support to the ailing pound.
Pound fell lower against the dollar yesterday, but found some support to ease its rate of decline
Posted by admin on September 29th, 2009
Sterling fell as persistent bearish sentiment pushed it to an intra-day four-month low of $1.5796 against the dollar, before closing at $1.5882.The pound managed to pull back slightly from early losses after Chancellor Alistair Darling made a speech in which he reiterated the need to curb “reckless” bonuses. His comments suggested that the government would be taking forceful steps to firm up the fragile banking system which returned a certain amount of confidence to investors and prevented the pound from falling further. The pound also benefited from slight profit taking and rising stocks, but analysts said that despite expectations for improving economic data, the sterling / dollar price looks vulnerable to a further downside push with strong resistance materialising around 1.5750.
Bearish sentiment towards the pound on Friday allowed the kiwi to make substantial gains
Posted by admin on September 28th, 2009
The kiwi dollar climbed another 1.2% on Friday, as demand for the high yield currency remained strong in the wake of positive economic data. Investors continued to move their funds into the riskier currency on Friday as data in the US revealed a strengthening economic recovery. Selling pressure on the pound was also high on Friday as comments from the BoE revealed their willingness to see the currency remain weak, undermining investor confidence. The kiwi also received support from a slight rise in oil prices. The New Zealand dollar tends to fair well when commodity prices are on the up owing to the nature of the economy.
Aussie hits new highs on sterling weakness and a rise in demand for higher-yielding currencies
Posted by admin on September 25th, 2009
Selling pressure on the pound and demand for higher-risk currencies saw the aussie advance to a fresh twenty-year high of 1.8464 against the pound. Remarks by Bank of England Governor Mervyn King to a regional newspaper published yesterday underscored the central bank’s lack of concern about the weakness of the pound, which sent the currency spiraling.The aussie received further support as investors shifted funds into higher-risk currencies after the US Fed bolstered expectations that interest rates would remain low for some time.Risk appetite was also encouraged after the G20 meeting, where a statement showed signs that that global stimulus measures would remain in place, buoying demand for the Australian dollar.
Sterling weakness drags it down below 1.60 following King’s comments
Posted by admin on September 25th, 2009
The pound slid 1.7% against the greenback yesterday as momentum to dump the pound snowballed following comments from King that lent his support to a weak currency. Sterling was at a two and a half month low against the dollar after comments from Mervyn King left FX markets in no doubt the Bank of England was comfortable with a weaker pound.A meeting set up between the BoE and London-based economists to clarify policy also worried investors who maintained their bearish sentiment toward the pound, pushing it lower.An easing of risk appetite added support to the dollar after data revealed a decline in US existing home sales from the previous month and undershooting forecasts.Additionally, as the US markets came online, equity markets took a turn into the red, which supported demand for the haven currency, and brought the price to a close of $1.6064.In trading this morning, sterling has tumbled to a four month low against the dollar as a break of the 1.60 level triggered a wave of stop loss sales.
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