Day: February 19, 2011

February 19
2011

Weekly Gains of Pound on Anticipation of Interest Rates Hike

The Great Britain pound strengthened this week on the speculations that the Bank of England will be required to raise the interest rates to curb the growing inflation. The BoE left its benchmark interest rates at the record low level of 0.5 percent on February 10. The bank keeps the stimulus to mitigate the effect of the budget cuts on the nation’s economy. Yet more and more policy makers voice concerns about such course of action and speak in favor of higher […]

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February 19
2011

Forex Technical Analysis for Week 02/21—02/25

Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3217 1.3323 1.3503 1.3609 1.3789 1.3895 1.4075 GBP/USD 1.5773 1.5876 1.6055 1.6158 1.6337 1.6440 1.6619 USD/JPY 81.80 82.41 82.75 83.36 83.70 84.31 84.65 EUR/JPY 110.76 111.43 112.57 113.24 114.38 115.05 116.19 GBP/JPY 131.17 132.16 133.52 134.51 135.87 […]

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February 19
2011

Australian Dollar Rose on Stronger Commodities

The Australian dollar strengthened for the third day against its US counterpart as the commodities rallied, increasing demand for growth-related currencies. The currency declined against the euro and was unchanged versus the Japanese yen. The Thomson Reuters/Jefferies CRB Index advanced 0.4 percent. Silver and coffee posted the biggest gains. The commodities rally, as the analysts predicted, and commodity currencies, including the Aussie, follow them. Credit Suisse AG predicted that the Reserve Bank of New Zealand […]

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