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Forex: GBP/USD erasing gains during London session

The GBP/USD saw its price rising ahead of the London opening, reaching as high as 1.4957 before tumbling down and approaching its daily opening price. As of writing, the pair has moved to 1.4922.

The Swiss National Bank has decided to keep its interest rate at 0%, the EUR/CHF peg at 1.20 and is now expecting inflation at -0.2% in 2013, instead of the previous forecast of -0.1%.

Windsor Brokers analysts see resistance at 1.5000 reinforced by 4h 55 day EMA “and repeated failure may prolong sideways movements and keep the downside vulnerable”. “Violation of 1.4900 support would revive bears and risk return to 1.4830, while alternative scenario above 1.5000, would allow for further correction towards the next barrier at 1.5046, 08 mar high”, wrote analyst Slobodan Drvenica.

Commodities Brief – Gold stuck in sideways consolidation, silver falls below 29.00 mark

Gold prices faced an uphill battle yesterday following the release of upbeat Retail sales figures in the United States, however as of European trading Thursday the yellow metal found itself in familiar territory, stuck in consolidation at the 1580-1590 region, just below the 1600 barrier/resistance. In these moments gold is trading sideways at USD $1588.17 per oz. – over the past few weeks the steady release of indicators out of the US have pointed to a more stable economy than previously imagined, reducing gold’s appeal as a sanctuary.
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Forex: EUR/NOK jumps above 7.5000 after Norges Bank

The Norwegian krone is markedly depreciating against the single currency after the Norges Bank left the refi rate unchanged at 1.5% and suggested that low rates would now remain longer than...
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