Japanese Yen Gets a Bump on GDP Shock

The Japanese currency strengthened against major Western currencies after Japan’s GDP surprise fall: Friday compared to parity, the dollar-yen was down 0.3% to 116.2 and the euro-yen, from 0.4% to 145.3. Japan has slipped back into recession, given the preliminary estimate of GDP in the third quarter: while it was expected to grow about 0.4%,… Read More »

EUR USD Remains Stable Despite Weak Economy

While the euro-dollar remains stable at around 1,247, sterling collapse against the other two major Western currencies: compared to the previous evening, the Euro-book takes 0.5% to 0,788 and the dollar -Book stood at 0,632. The British currency is under pressure after the publication of the Inflation Report of the Bank of England, compared with… Read More »

Forex Support and Resistance for This Week

Since late last week GBPUSD has been consolidating, although with an occasional spike up. At the end of last week it jumped to test overhead resistance at 1.6210, and was sharply rejected. This leads us to believe a further break of support around 1.6040 should come sooner rather than later. There is data to move… Read More »

What Will Stop The Euro Falling?

At noon on the currency markets, the European single currency skidded back heavily against the greenback, yielding 0.86% to 1.2581 dollars. And now has lost 8.5% of its value against the run by the Fed. The currency of the European Monetary Union also lost 0.62% against the yen at 138.02, 0.40% against the sterling at… Read More »

ECB Decides To Get Down To Business

As expected, the rebound in the EURUSD has stalled in the $ 1.3150 Wednesday as traders opted for caution before the meeting of the European Central Bank (ECB) this afternoon. The decision of the ECB interest rate is certainly one of the most important events for the euro this week, but it is not certain… Read More »