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Forex: GBP/USD threatens 1.5100

The bearishness surrounding the sterling is intensifying on Tuesday, threatening to breach the key limestone of 1.5100, as risk aversion is picking up pace.

Jane Foley, Senior FX Strategist at Rabobank, assessed, “In terms of the timing of the next BoE move we find ourselves in line with the majority in expecting more QE in Q2 2013; specifically we favor May insofar as this would coincide with the publication of the next BoE Inflation Report”.

As of writing, the cross is losing 0.08% at 1.5101 with the next support at 1.5000 (low Mar.4) ahead of 1.4985 (low 2013 mar.1) and then 1.4949 (low Jul.12 2010).
On the upside, a breakout of 1.5200 (high Mar.5) would open the door to 1.5223 (high Feb.28) en route to the psychological level at 1.5300

Forex Flash: Shanghai Composite/AUD/USD correlation weakens? – UBS

According to Research Analyst Gareth Berry at UBS, “Moving away from positioning, even if we view the China risk as underpriced, the notion that major corrections in Chinese asset markets will lead to significant problems for the AUD also appear to be overblown.” It is well known that the Chinese equity market has never been the most accurate barometer for the Chinese economy (though this is changing for the better).
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Forex: AUD/USD remains capped by 1.0250

The Australian dollar holds onto gains versus the greenback although despite the global stocks' rally, AUD/USD remains capped by the 1.0250 resistance area.
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