Yesterday's bearish behavior by the GBP was felt by many traders as the Bank of England's (BOE) Monetary Policy Committee (MPC) released the minutes from a recent meeting regarding interest rates and quantitative easing. There was a hint of dissension among the policymakers with some calling for a greater extension of the quantitative easing program which ended up pumping an additional 50 billion Pounds into the UK market recently. Fears over weak inflationary growth and market downturns have some MPC members lobbying for more aggressive measur... ( read more )
Archive for August, 2009
August 19, 2009 - The Euro-Zone Currencies Are On the Rise
Yesterday's sudden boost in equity markets world-wide has helped drive many of the riskier currencies, such as the EUR and GBP, higher versus their primary currency rivals. Safe-havens such as the Dollar and Yen took a small beating yesterday as well from this news. With investor confidence on the rise in Europe, a rally for the European currencies may be overdue. This in turn could also push commodity prices higher in the short-term. [caption id="attachment_1832" align="alignright" width="137" caption="Euro Zone Currencies On the Rise"][/capti... ( read more )
August 19, 2009 - Daily Forex Tips – August 19th 2009
The GBP and Crude Oil will Drive Trading today!
The British Pound experienced one of its most bullish trading days in recent weeks on Tuesday. The GBP made significant gains against many of its most traded currency pairs, such as the USD, EUR and JPY.[caption id="attachment_1809" align="alignright" width="293" caption="Daily Forex Tips"][/caption]
With regards to Crude Oil, we saw this popular commodity soar by roughly $3 to over $72 a barrel yesterday. This was despite plummeting for the previous 3 days. Today, the black gold is set to b... ( read more )
August 18, 2009 - The USD Trades Lower Ahead of the US Housing Starts
The U.S dollar came slightly off highs against major counterparts on Monday, after a report that showed improved manufacturing conditions in the New York region in August. The Dollar earlier received a boost as commodities sold off following a sharp drop in Chinese equities overnight. Today the greenback declined before the Commerce Department reports housing data at 12:30 GMT on speculation the U.S recession probably eased further. The impact of a stronger- then-expected number will be positive from a risk point of view, analysts said, hence r... ( read more )