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Day: October 30, 2010
October 302010
Good Week for Pound, Yet Outlook Remains Uncertain
The Great Britain pound rose this week as the favorable GDP report and the improving consumer confidence caused the speculation that the central bank wouldn’t introduce the additional stimulus to support the economy. The UK gross domestic product rose twice the forecast value and the consumer confidence improved, while it was predicted to decline. The favorable reports improved the outlook for Britain’s economy somewhat. The pound erased the losses of the last week against the US dollar and ended […]
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October 302010
Forex Technical Analysis for Week 11/01—11/05
EUR/USD trend: hold. GBP/USD trend: hold. 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 1.3395 1.3565 1.3741 1.3911 1.4087 1.4257 1.4433 GBP/USD 1.5403 1.5533 1.5777 1.5907 1.6151 1.6281 1.6525 USD/JPY 78.36 79.38 79.93 80.95 81.50 82.52 […]
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October 302010
Canadian Dollar Rises on US and Canadian GDP
The Canadian dollar rose today after the reports showed that the economies of Canada and the US expanded, boosting the demand for the higher-yielding currencies. Canada’s gross domestic product increased by 0.3% percent in August, following the 0.1% decline in July. The actual reading matched the forecast value. The US GDP increased at the annual rate of 2.0 percent in the third quarter of 2010, according to the “advance” estimate released by the Bureau of Economic Analysis, compared to the growth by 1.7 percent in the second […]
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