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Thursday, July 09, 2009

Sell GBPUSD

SELL GBPUSD
Short Position at: 1.6156
Stop Loss at: 1.6206
Take Profit at: 1.6104 / 1.6042 / 1.5996


OP, SL & TP at YOUR OWN RISKS


Forex Trading is a very risky trade and if you decide to trade, kindly note that you trade at your own risks. You Open Position, Take Profit and put a Stop Loss at Your Own Risks. We hold no responsibility for any losses or damages incurred.

GBPUSD

GBPUSD
The downtrend should continue to gather momentum.

Wednesday, July 08, 2009

The Euro

July 7 (Bloomberg) -- The euro rose against several of its major counterparts after a government report showed German factory orders increased the most in almost two years in May.

Tuesday, July 07, 2009

Obama “misread the economy"

Vice President Joe Biden said yesterday on the ABC news program “This Week” that the administration of President Barack Obama “misread the economy” when it forecast unemployment would peak at 8 percent if Congress enacted a $787 billion fiscal stimulus.

Wednesday, July 01, 2009

US Dollar Rises

Dollar Rises Versus Euro as U.S. Sentiment Spurs Safety Demand


June 30 (Bloomberg) -- The dollar gained versus the euro for the first time in four days as a report showed U.S. consumer confidence unexpectedly dropped in June, increasing demand for the safety of the world’s main reserve currency.


The U.S. currency declined 5.6 percent against the euro in the three months ended today, its first quarterly drop since March 2008, pushing the greenback 0.4 percent lower in 2009. The yen was down 6.4 percent versus the euro this year, compared with a 2.6 percent decline in the first six months of 2008.

Thursday, May 28, 2009

Dollar Slumps & Pound Gain

Pound Gain
May 27 (Bloomberg) -- The pound rose above $1.60 for the first time in almost seven months as speculation the worst of the financial crisis is over stoked demand for assets denominated in the British currency.


“The pound is having a correction after being hammered hard last year,” said Brian Kim, a currency strategist in Stamford, Connecticut, at UBS AG, the world’s second-largest currency trader. “There’s some valuation argument.”


Sterling rose as much as 0.8 percent to $1.6047, the highest level since Nov. 5, before trading at $1.6005 at 10:13 a.m. in New York, compared with $1.5926 yesterday. The pound appreciated 0.8 percent to 87.12 pence per euro, from 87.80 pence. The dollar traded at 94.91 yen, compared with 95.03. The euro decreased 0.4 percent to 132.36 yen from 132.90. The euro slid 0.2 percent to $1.3957 from $1.3984.


Brazil’s real strengthened beyond 2 per dollar for the first time in almost eight months, boosted by a rebound in demand for assets and commodities from Latin America’s largest economy. The benchmark interest rate in Brazil is 10.25 percent, compared with 0.1 percent in Japan, 1 percent in the 16-nation euro region and as low as zero in the U.S.


Sterling ‘Gaining’
“The view that sterling is gaining ground is becoming more prevalent,” said David Powell, a London-based currency strategist at the firm.


The pound climbed about 2.9 percent since it rose through its 200-day moving average versus the dollar on May 20, a sign to investors who use technical charts that it will extend its advance. Against the euro, it advanced 2.8 percent this month.
The pound may appreciate to 85 pence per euro by year-end, according to Bank of America-Merrill Lynch.


The dollar depreciated 5.2 percent versus the euro this month as signs of a global recovery reduced safe-haven demand for the greenback. It weakened beyond $1.40 last week for the first time since January on concern U.S. creditworthiness deteriorated as its budget deficit ballooned.


U.S. Housing
Sales of existing houses, which account for more than 90 percent of the U.S. market, gained last month to a 4.68 million annual rate, from a revised 4.55 million in the prior month, the National Association of Realtors reported today.


The dollar gained yesterday versus the euro after the Treasury’s record-tying $40 billion sale of two-year notes drew the most demand since November 2006 from a group of investors that includes foreign central banks. The U.S. will auction $35 billion in new five-year notes today, the second of three sales this week that will raise $101 billion.

Tuesday, May 19, 2009

Pound Strengthens After U.K. Home Prices Rise, Stocks Advance

May 18 (Bloomberg) -- The pound rose against the euro and the dollar after an industry report showed U.K. home sellers raised asking prices in May by the most in more than a year.