The selling interest keeps hovering over the sterling on Thursday, with GBP/USD trading in the 1.6000/10 band so far. Spot dropped more than 50 pips in the wake of poor UK retail sales during September, surprising markets to the downside. The decline, however, seems to have found decent support...
Euro and pound went their separate ways in early European trade today as better PMI data sent EUR/USD higher while cable tumbled on weaker Retail Sales.
The USD is broadly in demand after the Ottawa attack yesterday, the DXY index advances to 1-week high. Released yesterday, the US September CPI has been marginally better than the market estimates.
Focus of the day: "While our tactical bias remains for further yen strength – especially against the euro – with JPY TWI 2.5% stronger since the start of the month, and a plethora of counteracting forces...
Euro Zone Oct Preliminary Manufacturing PMI: 50.7 v 49.9e (15th straight month of expansion); Services PMI: 5 v 52.0e. Germany Oct Preliminary Manufacturing PMI: 51.8 v 49.5e; Services PMI: 54.8 v 55.0e
Valeria Bednarik – Limited bounces after fresh lows among European currencies maintains the risk to the downside.
EUR/USD Forecast: struggling around 1.2660 by FXStreet
GBP/USD Forecast: flirting with 1.6000 by FXStreet
USDJPY trend line support intact but heading towards MA/Fib resistance by ForexTrading.TV
European Central Bank’s assetquality review and stresstest results are scheduled for release on Sunday.
EURUSD The Euro resumes reversal and establishes fresh direction lower after breaking below near-term congestion.
FXStreet expert, Gonçalo Moreira, gives advice on how to choose a broker.
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Before starting my career at the Chicago Mercantile Exchange, I did two things and really two...