Posted on November 9, 2012 by the XM Investment Research Desk at 12:27 pm GMT
Important Notice: This investment research was produced by an independent analyst and Trading Point of Financial Instruments Ltd has verified that the producer of the investment research is subject to requirements equivalent to the requirements under Directive DI144-2007-01 of 2012 of the Cyprus Securities and Exchange Commission in relation to the production of the research.
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USDJPY had a strong rally last week, finishing with a 1.7% gain on Friday to close just below the 23.6% Fibonacci retracement level of the upleg from October 8 (96.55) to January 2 (105.43).
After such a strong move up, the [...]
The yen rose on safe haven demand after dismal China trade data hurt risk appetite. The world’s second largest economy recorded a deficit of US$23bln in February versus expectations of plus $14.5bln as exports tumbled 18.1% year-on-year. This was the [...]
A stronger-than-expected nonfarm payrolls figure for February pushed the euro away from 2 ½ year highs achieved earlier in the session and gave the dollar a boost.
The euro was moving higher on the back of inactivity by the ECB [...]
(click to enlarge)The 8-month low in euro / pound at 0.8156 in mid-February was followed by a recovery of the euro, which has recently broken through resistance at 0.8267. This was related to the ECB taking no action against [...]
After making a 2-month high against the dollar at 1.3873, the euro was little changed during the Asian session at 1.3858. The main takeaway from the ECB meeting was the comment of ECB President Mario Draghi that Eurozone economic [...]
The main event of the day was the inaction of the ECB as during its scheduled policy meeting it decided to keep both the key refinancing and the deposit rates unchanged at 0.25% and 0% respectively, while employing no new [...]
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After hitting a fresh 4-year high in the middle of February (1.6821 on 17 February), pound versus dollar has been consolidating between roughly the 1.66 and 1.68 levels.
The pound has recently managed to move away [...]
The main theme dominating markets was the anticipation of the European Central Bank meeting later in the day as there has been a lot of debate whether the ECB will provide stimulus and what kind of stimulus or if it [...]
Today’s European Session data included the Purchasing Managers Index (PMI) from both the Eurozone and the United Kingdom. There were also retail sales data for the Eurozone.
The Eurozone’s composite PMI, which is a gauge of activity in the manufacturing and [...]
The news that Australia’s economic growth beat expectations during the final quarter of the year was a reassuring development for the country’s outlook. Quarter-on-quarter growth came in at 0.8%, slightly higher than economists’ expectations of 0.7%. The beat [...]