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Day: October 16, 2010
October 162010
Dollar Pares Losses This Week After Bernanke’s Speech
The US dollar extended its decline this week on the outlook for another round of the quantitative easing by the Federal Reserve but it unexpectedly rebounded by the end of the week after the speech of the Chairman Ben Bernanke. The dollar remained very weak on the outlook for the Fed to stimulate the US economy. The minutes of the Federal Open Market Committee supported this outlook. The unfavorable US macroeconomic fundamentals reinforced the prospects for the stimulus. The Bernanke’s speech should to confirm the expectations of the easing. […]
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October 162010
Forex Technical Analysis for Week 10/18—10/22
EUR/USD trend: sell. GBP/USD trend: buy. USD/JPY trend: sell. EUR/JPY trend: sell. GBP/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3311 1.3474 1.3701 1.3864 1.4091 1.4254 1.4481 GBP/USD 1.5529 1.5638 1.5797 1.5906 1.6065 1.6174 1.6333 USD/JPY 78.99 80.36 81.22 82.59 83.45 84.82 […]
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October 162010
Pound Falls on Concerns About BOE Stimulus
The Great Britain pound fell today on the concern that the slow recovery would force Britain’s central bank to extend its stimulus measures. Earlier the currency surged versus the US dollar to the strongest level since January. The sterling was weakened by the concerns that the weak UK economy would prompt the Bank of England to keep its benchmark interest rate at the record low level of 0.5 percent. The speculation that the Bank plans to buy […]
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