Posts Tagged ‘Lows’

The kiwi retreated at the end of last week on a rise in risk aversion

Posted by Forex News Resource on November 2nd, 2009

The kiwi dollar struggled on Friday enabling the pound to jump 1.4%, briefly nearing the 2.30 level, as risk appetite in the market waned.

  • Higher-risk currencies struggled to make headway at the end of last week as the rally in global equities in the wake of the positive US GDP data came to an abrupt halt.

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The euro lost ground to the dollar on Friday as the rally in equities came to a halt

Posted by Forex News Resource on November 2nd, 2009

The dollar strengthened, consolidating after broad selling on the back of data showing strong US growth, gaining over a cent on the single currency.

  • Equities took a sharp downturn at the end of last week, having rallied after the positive US GDP data, most likely as a result of end of month profit taking, which buoyed demand for the greenback.

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Euro / dollar remains under pressure

Posted by maradona on October 30th, 2009
A pleasant surprise from the report, Chicago PMI, as well as a slightly higher rate of index of consumer sentiment for October, the University of Michigan failed to inspire the bulls in the euro / dollar for a new assault attempt.

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Falling global equities enabled the pound to post gains against the euro

Posted by Forex News Resource on October 29th, 2009

The pound continued to advance against a broadly weaker single currency yesterday, hitting a six-week high of 1.1167 as investors trimmed their euro holdings.

  • Preliminary CPI data from Germany revealed that consumer prices remained flat on the year in October. Monthly data showed that the index did rise by 0.1% in October from September, though this rise failed to garner support for the euro.
  • The markets also saw a slight withdrawal of risk activity yesterday as weak housing data in the US renewed concern over the health of the global recovery.
  • The data dragged European equities down to three-week lows, which appeared to impact more severely on the single-currency, enabling the pound to gain.
  • This morning, the pound is consolidating its position above 1.1100, with analysts reiterating that sterling is likely to remain in a holding pattern until next week’s BoE asset purchase decision.
  • Investors are cautious amid uncertainty over whether the Central Bank will extend their quantitative easing programme, and so sterling movements may continue to be dictated by risk appetite in over the coming days.
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Negative economic statistics supported the dollar

Posted by maradona on October 27th, 2009
News from the United States was not the most positive and unexpected drop in the index of consumer confidence from the Conference Board to 53.4 to 47.7 points and the index of business activity FRB Richmond from 14 to 7 points in October, provoked a weakening appetite for risk.

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Corporate reports coming week will support the stock market

Posted by maradona on October 26th, 2009
S & P500 index is inside a giant “wedge”: the resistance trend line is at the level of 1113, support the trend line – in 1058.

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the Data from UK have supported the pound

Posted by maradona on October 20th, 2009
Net public sector borrowing in September reached a record high, but were slightly above forecasts. The need for public sector cash flow in September also proved to be a record, but also below analysts’ forecasts.

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The single currency slipped back on Friday following weak Bank of America earnings

Posted by Forex News Resource on October 19th, 2009

The US currency snapped a four-day losing streak against the euro, rising from a 14-month low, as investors cautioned their risk activity following further corporate earnings reports.

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Pound is rallying against the kiwi dollar as investors book profits ahead of the weekend

Posted by Forex News Resource on October 16th, 2009

The pound achieved a ten-day high against the kiwi yesterday, as bullish comments combined with profit taking to bring the UK currency off multi-month lows.

  • The UK currency was buoyed by comments that quantitative easing is in fact having its desired effect and that the MPC may not need to extend QE in their next meeting as many has speculated they would.

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Sterling has picked itself up from multi-year lows against the kiwi, buoyed by improving economic sentiment

Posted by Forex News Resource on October 15th, 2009

The pound was able to reverse a four day slide against the kiwi yesterday, following positive data in the UK labour market.

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Bearish sentiment towards the pound prevailed yesterday, but the sterling is rallying strongly against the euro today

Posted by Forex News Resource on October 15th, 2009

The pound relinquished early gains against the single currency, closing marginally down at 1.0704 as rising risk appetite benefited the euro.

  • Sterling initially rose against the single currency yesterday after data showed a smaller than expected rise in the number of UK jobless claiming benefits, and the overall unemployment rate unexpectedly held at 7.9%.

Click to continue reading “Bearish sentiment towards the pound prevailed yesterday, but the sterling is rallying strongly against the euro today”

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Sterling picked up from early lows to post marginal gains against the euro yesterday

Posted by Forex News Resource on October 14th, 2009

The pound reversed its three-day slide against the euro as a surprise dip in a German economic sentiment index offset weak UK inflation data.

  • In early trading, sterling was undermined by a declining inflation rate, which prompted further speculation that interest rates could be on hold at 0.5% until 2011 and sent the UK currency to a six-month low of 1.0628.

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Factors Influencing the Forex Market

Posted by Tushar Mathur on October 10th, 2009

A lot of people like the participants of the currency markets, economists and experts of the Central bank have been trying to understand and identify, what factors exactly drive the highs and the lows of the Forex market.

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Kiwi found support from the strength of its neighbour yesterday, and as global equities rallied strongly

Posted by Forex News Resource on October 7th, 2009

The pound lost a further one and a half cents to the kiwi following negative UK data, and as the aussie rate hike put the focus on the next RBNZ rate decision.

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Stong servies data and rallying equities were unable to buoy a weak pound yesterday, enabling the dollar to creep up

Posted by Forex News Resource on October 6th, 2009

The pound continued to edge downward, undermined by speculation ahead of the MPC meeting later this week.

  • Data revealed that Britain’s services sector grew more strongly than expected in September, expanding at its fastest rate for two years, quelling fears over the UK recovery following weak PMI data in the manufacturing and construction industries last week.

Click to continue reading “Stong servies data and rallying equities were unable to buoy a weak pound yesterday, enabling the dollar to creep up”

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