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Day: January 15, 2008
January 152008
Retail Sales for December Disappoint Dollar Bulls
EUR/USD has been ranging up and down through the whole day as the Forex traders were expecting the release of the important fundamental data today. After the retail sales report for December came out, euro started to gain at a fast pace against the U.S. dollar and broke the important resistance level of 1.4900. December advance estimate of the retails sales fell down by 0.4% after a 1.2% growth a month earlier, while a stagnation at 0% was […]
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January 152008
GBP at Lowest Level Against JPY in 17 Months
The Great Britain pound today reached its lowest value against the Japanese yen since 11th of July, 2006, continuing the strong bearish trend that has started during early November 2007. Since the pound has been a carry trade favorite long currency for a long time, it’s gained a lot of “overweight” against its Japanese counterpart — yen, and it now has a great potential in falling down as the carry trade […]
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