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Day: January 29, 2011
January 292011
US Dollar Declined This Week on Poor Macroeconomic Reports
This week was rather bad for the US currency even as the US economy demonstrated a moderate growth, which nevertheless wasn’t as good as the economists anticipated. The economic reports were for the most part worse than the forecasts promised, even though the data showed growth. One example of such reports was the report about the gross domestic product. Even as GDP expanded 3.2 percent in the fourth quarter of 2010, compared to the 2.6 percent growth […]
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January 292011
Forex Technical Analysis for Week 01/31—02/04
Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3294 1.3417 1.3512 1.3635 1.3730 1.3853 1.3948 GBP/USD 1.5470 1.5610 1.5735 1.5875 1.6000 1.6140 1.6265 USD/JPY 80.42 81.19 81.66 82.43 82.90 83.67 84.14 EUR/JPY 108.34 109.92 110.84 112.42 113.34 114.92 115.84 GBP/JPY 125.79 127.64 128.95 130.80 132.11 […]
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January 292011
US Dollar Rises vs. Euro, Falls vs. Yen on GDP Report
The US dollar strengthened versus the euro as the GDP report showed that pace of economic growth in the US increased. The currency dropped against the Japanese yen as the growth was slower than the analysts predicted. The US gross domestic product expanded at an annual rate of 3.2 percent in the fourth quarter of the last year, compared to the 2.6 percent growth in the third quarter. Even as the growth accelerated, it hasn’t met up the economists’ expectations of the 3.5 percent […]
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