Forex News

Pound Firms over Talks of Transitional Deal with EU

  On the basis of weak PMI data and lack of improvement in the current account deficit situation, we had forecasted the GBPUSD pair to decline from 1.2960. Furthermore, we had mentioned our interest to open short position in the

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Weak Inflation, Dovish RBNZ Turns the Kiwi Dollar Bearish

  Last month, Mario Draghi, president of the ECB, stated that the monetary stimulus should be withdrawn on a step by step basis as the Euro zone economy is showing signs of improvement. The hawkish tone triggered a rally in

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US Dollar Turns Weak on Decline in Retail Sales

  The US dollar has been on a decline against its rivals due to a slowdown in inflation, poor wage growth, and arguable timing of the rate hike. On the contrary, the Canadian dollar was boosted by positive job data,

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Aussie Turns Weak on Poor Growth in Home Loans

  Mixed economic data and dovish rate hike by the US Fed kept the Greenback weak for the past one month. Ironically, despite a sharp decline in the price of commodities, the Aussie managed to rally against the US dollar.

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Weak Construction Mfg. Activity Turns Pound Bearish

  A decline in the Japanese manufacturing index in the April-June quarter and the possibility of a soft Brexit convinced us to forecast a rally in the GBPJPY pair on June 14. The report also indicated our interest in opening

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Three Month Low PMI Data Turns the Pound Weaker

  The British Pound rallied against the US dollar in the last week of June, after the statement from Mike Carney, Governor of the Bank of England, indicated the possibility of a rate hike in the months ahead. The Pound

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Strong Retail Sales, Consumer Spending Keeps Euro Bullish

  On the basis of an improvement in the Euro zone economy, we had predicted an uptrend in the Euro dollar, against the Greenback, last Monday. The timing of the US Fed rate hike, questioned by some economists, also aided

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Narrowed Trade Surplus Turns New Zealand Dollar Weak

  A combination of dovish rate hike and struggle by Trump to deliver the election promises such as corporate tax cut and increased spending on infrastructure has kept the Greenback weak for the past one month. In fact, all the

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Upbeat Inflation Data Keeps Euro Bullish

  In our analysis report published on May 15th, we had informed our interest to take a long position in the EURUSD pair near 1.0900, with a target of 1.1040 or higher. Additionally, we had expressed our intention to invest

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Yen Turns Weak on Poor BSI Manufacturing Index Data

  On May 31st, we had forecasted a weakness in the Pound and also mentioned our interest to go short in the GBPJPY pair at 142.20 levels, with a target of 140.10. Additionally, we had expressed our intention to invest

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