Forex Blog
Blog-FX.Com

• Rouble is losing positions again in pairing with USD and EUR [11/10/2011]
• NZD: New Zealand Dollar is descending [11/10/2011]
• AUD: sales of Australian Dollar do not subside [11/10/2011]
• JPY: Japanese Yen remains in the narrow trade range [11/10/2011]

GBP: British Pound Sterling is still strong and is of interest for purchase

At the Forex currency market the British Pound Sterling rate is virtually standing still, as players withdrew from risky positions in advance of the EU Finance Ministers’ meeting in Brussels; however the GBP is still has high potential. 

Forex forecast: MACD indicator is in the negative area for the pair GBP/USD and is going up, confirming a previous buy signal for the pair. Stochastic oscillator is in the overbought zone and is giving a similar signal.

Forex recommendations: if the current situation will be maintained the pair can continue to consolidate close to the current level rising slightly. However, in case of breakdown at the level of 1.5810 traders’ targets can become the levels of 1.5750 and 1.5670.

It became known today that according to the Rightmove data prices for houses in the UK increased by 3.0% m/m (+0.4% y/y). At the same time statistics released before that showed that the level of houses prices in the UK fell by 0.2% m/m (+2.9% m/m). This sector is still very difficult to estimate as the agencies use different data and approaches. It is worth emphasizing that real estate sector in the UK remains in a difficult position amid decline of consumer interest due to hazy economic outlooks.

Prime Minister Cameron said that Britain does not intend to join Eurozone, however the country supports reforms of the economic management of Eurozone in every possible way. The statement was made amid aggravation of investors’ attention to the Eurozone’s debt problems.
 
According to the representatives of the British Chamber of Commerce sharp increase in demand for exports in the country would not be a sufficient factor to stop slowing down of British economy according to the results of QIV 2010 and QI of 1011. Thus, experts of the Chamber believe that although the rate of production is high, low productivity in the service sector still remains a weak spot of the UK economy.

International rating agency Moody's stated this week that financial situation in Great Britain as well as in Germany, France and the USA remains stable and is virtually unchanged. This fact confirms the ranking of the countries at the level of AAA. It is worth noting that at the meeting of the bank of England yesterday interest rate was maintained at the previous level of 0.5% per annum.

 

[More]
Tags:
Tags Cloud: hammurabi analyze charged professional forex trader joke executed volatility pips ?????? ??????? number deducted