• The UK economy expanded at a steady rate in the three months through May, as the domestic-led recovery continues to offer support for a material shift in monetary policy. The UK economy accelerated 0.9 percent between March and May, the National Institute of Economic and Social Research reported today. That follows a gain of 1.1

  • H.S. Borji

    The British pound declined for the second consecutive day against its US counterpart, as strong UK manufacturing data was offset by hawkish remarks from a US lawmaker. The GBPUSD fell further below the 1.68 handle, declining 0.23 percent to 1.6765. Initial support is likely found at 1.6758 and resistance at 1.6829. Buyers are likely to

  • The British pound is on pace to advance 0.3 percent against its US counterpart this week, with latest testimony from the Bank of England suggesting the economy may warrant a change in policy sooner rather than later. Next week will provide a key test for the GBP/USD, which was on its heels Friday amid weaker

  • Forex » Euro Faces Sell-Off as ECB Adjusts Rates
    June 5, 2014, 15:34 GMT

    The euro declined against it US and British counterparts Thursday, as the European Central Bank took decisive action to shore up deflation. The European Central Bank today became the first major institution to charge a fee on deposit. The ECB cut its benchmark interest rate from 0.25 percent to 0.15 percent, a new low, and

  • Forex » Cable Held back by Construction PMI
    June 3, 2014, 15:09 GMT

    The British pound advanced against its US counterpart Tuesday, but trimmed its gains in the European session after construction PMI advanced at a slower rate than forecast. The GBPUSD was trading at 1.6754, relatively unchanged from the previous close. The pair eased off an intraday high of 1.6780 following the release of UK construction PMI.

  • Forex » Eurozone Inflation takes Centre Stage
    June 2, 2014, 19:25 GMT

    The European Commission will publish official inflation figures Tuesday, setting the stage for a potentially landmark policy statement from the European Central Bank later this week. German consumer prices fell to a four-year low in May, the European Commission reported today. German inflation, calculated using a method harmonized by the European Union, declined 0.3 percent

  • H.S. Borji

    The British pound edged lower Monday amid signs the UK housing sector was losing momentum. Industry data, meanwhile, pointed to sustained growth in the UK manufacturing sector, despite a slight dip in the headline PMI indicator. The GBPUSD was trading at 1.6747, declining 0.12 percent. The pair fell to an intraday low of 1.6728. Initial

  • Forex » German Retail Sales on Deck
    May 29, 2014, 19:20 GMT

    German fundamentals will take centre stage once again Friday when the Federal Statistics Office reports on April retail sales. The monthly reading is expected to show retail revenues advanced 0.4 percent in April, following a decline of 0.7 percent the prior month. Retail sales are used to gauge consumer confidence and willingness to spend money.

  • Forex » EUR/USD Under Pressure
    May 28, 2014, 15:47 GMT

    The euro was on its heels again Wednesday, falling below the 1.36 US handle amid weaker than forecast French and German data. The EURUSD was trading below 1.36 in the early North American session, declining 0.27 percent to 1.3598. The pair has lost more than 0.6 percent over the previous five days amid signs the

  • David Becker

    EUR/USD dropped to a three-month low following a weak Ifo survey. The low so far has been 1.3616, and, notably, the 200-day moving average has been breached for the first time since last September. The next obvious target is the February 2013 low at 1.3584. The euro has weakened across-the-board, EURGBP to a 17-month low,

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