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  • The British pound has witnessed a gradual decline against its US counterpart in recent weeks, but the outlook remains positive as the UK economy continues to accelerate at a strong pace. The GBPUSD traded within a range of 1.6784-16832. The pair consolidated at 1.6795, declining 0.0.7 percent. The trend line shows initial support at 1.6773

  • Forex » US Dollar Advances in Low Volume Trade
    June 9, 2014, 15:18 GMT

    The US dollar advanced against a basket of currencies Monday, as strong nonfarm payrolls continued to bolster risk appetite, while the euro weakened due to widening yield differentials. The US dollar index, a weighted average of the greenback’s performance against six major currencies, increased 0.31 percent to 80.66. The index weighs the US dollar’s performance

  • The US dollar advanced against a basket of currencies Friday after the Labor Department showed the US economy recouped all jobs lost during the recession. The US dollar index, a weighted average of the greenback’s performance against six major peers, advanced 0.12 percent to 80.47. Risk aversion weakened the index on Thursday as investors looked

  • The Canadian dollar edged lower against its US counterpart Friday, as investors assessed the latest batches of labour market data from Canada and the United States. The Canadian dollar was trading at 0.9140 US, down 0.15 percent. The loonie reached an intraday high of 0.9165 prior to the labour market releases. Canada’s economy added 25,800

  • Friday could be a pivotal day for the global currency markets, as US nonfarm payrolls and Canadian employment data are scheduled for release. Both countries are expected to post solid job growth figures, supporting the view economic recovery is on track after a volatile first quarter. The US economy contracted in Q1 for the first

  • The US dollar was weaker Thursday, declining against a basket of currencies as risk-aversion entered the markets ahead of Friday’s nonfarm payrolls report. The US dollar index, a weighted average of the greenback’s performance against six commonly traded peers, slipped 0.15 percent to 80.55. By the mid-day session the US dollar had pared back its

  • Forex » Aussie Steadies Ahead of GDP
    June 3, 2014, 22:50 GMT

    The Australian dollar was trading steady against its US counterpart, as economists revised their outlook on Australia’s first quarter GDP growth. The AUDUSD was trading at 0.9253, advancing 0.08 percent. The pair reached an intraday high of 0.9286. The daily chart shows initial support at 0.9213 and resistance at 0.9296. The pair is trading below

  • The British pound ended the week on firm footing against its US counterpart, advancing after mixed economic reports undermined confidence in US recovery. The GBPUSD advanced 0.26 percent to 1.6761, after reaching an intraday high of 1.6777. The trend line shows initial support at 1.6692 and resistance at 1.6768. Friday’s gain was unable to erase

  • David Becker

    The EURJPY rebounded after pushing through support on Thursday, as the currency pair hit a 3-month low. In-line consumer price data, nor an unchanged unemployment rate did little to sway the currency pair. Personal Consumer Expenditures fell in April but this was expected following the April tax hikes. Price action remained stable below the 200-day

  • David Becker

    EUR/USD hovered near support levels, aided by the stronger than expected economic confidence reading out of the Eurozone. The rise in the ESI economic confidence won’t be a game changer as the unexpected rise in German unemployment coupled with the weaker than expected M3 numbers and still very low inflation across the Eurozone should maintain