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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The dollar tried to regain some poise following losses in recent sessions. It climbed above the 102 level versus the yen at 102.17. The euro also gained versus the yen, rising 0.21% to 141.46.
The dollar was helped by lower-than-expected initial [...]
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On the 4-hourly chart, the euro has been in a downtrend against sterling for the past 3 weeks or so, dropping from the 84 pence level to the present 82.19.
There is a short-term support at 0.8212 and then [...]
The pound broke through to fresh 4-year highs against the dollar, as sterling was boosted by yesterday’s strong UK employment statistics; whereas the dollar was hurt by the speech Fed Chair Janet Yellen gave.
The pound traded around 1.6835 against the [...]
The best performing major currency was the sterling which rose after UK employment data today. The jobless rate hit a five-year low of 6.9% and there was an increase in wages, which raises the odds for the Bank of England [...]
In the aftermath of the financial crisis, unemployment has become a key variable that central banks watch in deciding about interest rates. This trend reached a climax when forward guidance was used, that is tying changes in monetary policy to [...]
After breaking key resistance at 141.00, EURJPY upside momentum increased on the 4-hour chart and it penetrated into the cloud. Resistance was found at 141.75 at the top of the cloud. The stochastic is overbought so the pair will likely [...]
USDJPY recovered the key 102.00 level after a rally from a low of 101.50. The short-term outlook is bullish on the four-hour chart as the pair has risen above the tenkan-sen and kijun-sen lines and the RSI is now above [...]
EURUSD fell after having failed to close above the key 1.3900 level. The pair hit a high of 1.3904 on April 11, which is the 78.6% Fibonacci retracement level of the decline from March 13 (1.3966) down to the April [...]
The major news of today’s Asian session was that China’s GDP growth for the first quarter slightly exceeded expectations. This boosted optimism about global economic growth prospects and helped risk assets.
Chinese growth came in at a 7.4% year-on-year pace for [...]
The dollar was strong against the euro and held steady against the yen. The pound rebounded after UK inflation data caused a brief dip.
The euro remained under pressure after ECB President Mario Draghi’s dovish weekend comments warning against a firmer [...]