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Euro Push Higher Ahead of U.S. Durable Goods Orders

Thu, 25 Dec 2008 00:00:45 GMT

Despite an empty economic calendar, the Euro pushed higher against the greenback to reach a high of 1.39898 during the overnight session, and may continue to push higher over the U.S. session as market participants place their bets ahead of the durable goods orders report. Talking Points • Japanese Yen: Pares Yesterday’s Loss to Hold at 90.25 • Pound: Holds Tight Range • Euro: Tests... [read more]

British Pound Falls Further as Growth Figures Disappoint

Tue, 23 Dec 2008 21:56:42 GMT

The British pound fell for the fifth consecutive session to cross below 1.4800 as the final GDP reading for the third quarter was revised down to -0.6% from an initial reading of -0.5%. Deteriorating fundamentals paired with mounting growth fears have certainly taken a toll on Cable. • Japanese Yen: Holds 90.00 • Pound: GDP Contracts 0.6% in 3Q, GBPUSD Slips Below 1.4800 • Euro: Pares... [read more]

British Pound Technical Outlook

Thu, 04 Dec 2008 05:19:28 GMT

Looking in at the hourly chart, the GBPUSD rally from 1.4554 is clearly corrective. While this could be the beginning of a flat or triangle, it may also be a completed correction at 1.5539 that will lead to new lows. Further, the decline from 1.5539 counts well as an impulse.A rally back to former resistance at 1.5073 would potentially complete wave ii within the bear cycle from 1.5539. 1.52... [read more]

ForexGen | Asia Stocks Rise as Bargains Sought; Oil Slips

Fri, 28 Nov 2008 18:52:04 GMT

Asian stocks edged up in quiet trade on Friday, as investors sifted through the remains of a record sixth consecutive month of falls for global equity markets, hoping to find some bargains as 2008 winds down.Regional shares tacked on a sixth day of gains, though optimism was in short supply with deteriorating economic prospects for China and Japan as well as simmering political risks in India,... [read more]