GBP

Forex Trading: GBP the star for the day

Greg Michalowski — Thu, 19 Jun 2008 18:01:24 -0400

Needless to say (or maybe not), the GBP was the star currency for the day. The GBPUSD, GBPCHF, GBPJPY and EURGBP all had the GBP moving higher.

The stronger (to say the least) Retail Sales report yesterday was the catalyst for the pair and was quite curious given the rhetoric from Governor King post the CPI spike higher. The sales were up 3.5% which was the biggest one month increase since the statistic was created in 1986. On a year basis, the sales rose 8.1%, the most since 2002. The spike seems to be as a result of warmer temperatures which spurred food and summer fashions.

Forex Trading News: UK Data Release Gives GBP a Boost

Mr. Danish FX — Thu, 19 Jun 2008 04:37:10 -0400

The Retail Sales number comes out much higher than forecast at 3.5% from the previously revised -0.3%. This was forecast for a small jump to -0.1%.

The Public Sector Net Borrowing Figure comes out at 11.0B from the previous -0.5B. This was forecast at 9.0B

This Retail Sales data recorded the highest level since this series of data begun in 1986. In turn, the GBP made some serious gains across the board, moving a big figure on the JPY.

Forex Trading: It is EUROs day, but GBP reverses after falling early

Greg Michalowski — Thu, 05 Jun 2008 12:25:29 -0400

Although today is a EURO day with EURUSD, EURJPY, EURCHF, EURGBP, EURAUD all racing higher, the GBPUSD is rebounded nicely. The GBPUSD fell early in the day as weaker UK home price data and a more bullish dollar sentiment moved the pair to new 2 week lows. The Trichet hawkish comments propeled the EURUSD along with the EURGBP much higher. Nevertheless GBPUSD has been able to bounce and even traded higher than yesterdays close of 1.9555. A close above this level today should traget higher levels with the 38.2% retracement of the move down being the obvious target (1.9608). Watch the close today...

Overnight News: AUS keeps rates unchanged. Inflation in CHF and Eurozone, UK PMI Construction falls

Greg Michalowski — Tue, 03 Jun 2008 08:21:07 -0400

Overnight, the RBA kept their key interest rate unchanged as expected. Interest rates are at 12 year lows. Comments were mixed. RBA Governor Stevens said their is "considerable uncertainty" about the outlook for demand and inflation. They do expect demand to slow, and they expect inflation to slow eventually - but maybe not until 2010. Trade boom "will add substantially to the national income and ability to spend, even with slowing in global growth to below trend pace". They are keeping their options open.

Forex Trading: Sterling looking offered again, perhaps to take out the lows it made previously...

Michael FX — Mon, 02 Jun 2008 05:57:21 -0400

Sterling looking offered again, perhaps to take out the lows it made previously. It's been a wild ride this evening for GBP as its component & cross have gotten hammered.

Forex Trading: Sterling data initially softens the Pound but it gets a nice bounce around the figure...

Michael FX — Mon, 02 Jun 2008 05:13:07 -0400

Sterling data initially softens the Pound but it gets a nice bounce around the figure. PMI came out as 50.0 against 50.5 projected & 51.0 previous with no revisions. It appears that the bounce at the figure was shorts covering from earlier in the evening as we all know that even in Sterling, things can only go so far before it gets a bounce.

Forex Trading: GBP data out in 2 minutes...

Michael FX — Mon, 02 Jun 2008 04:28:43 -0400

GBP data out in 2 minutes. M4 Money Supply & Manufacturing PMI.

Forex Trading: Sterling getting a nice bounce from the 80's but strongly offered from the teens...

Michael FX — Mon, 02 Jun 2008 03:32:37 -0400

Sterling getting a nice bounce from the 80's but strongly offered from the teens and was offered thereafter. Cable has just gotten crushed this evening, having been a gap open & rumours of some sort of mortgage related write down circulating.

Forex Trading: Sterling in a large range and getting a nice bounce from its now double bottom...

Michael FX — Fri, 30 May 2008 05:26:42 -0400

Sterling in a large range and getting a nice bounce from its now double bottom. Technicals are looking bid as well at this point.

Forex Trading: Sterling like a rock here in the 80's, giving some longs a head fake break lower...

Michael FX — Wed, 28 May 2008 05:28:46 -0400

Sterling like a rock here in the 80's, giving some longs a head fake break lower. This false break made some longs exit. At this point it seems that it is GBP/JPY & EUR/GBP keeping the pair away from a strong offer. If we see 78 offer, it may take a trip down to the trendline shown before finding support.