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Forex: GBP/USD consolidates gains below 1.5200

FXstreet.com (Barcelona) - The sterling keeps the positive mood despite investors’ preference for safer assets on Thursday, hovering over the area of 1.5170/75 after hitting weekly highs above 1.5200 on solid data from UK retail sales.

“The Chancellor’s update to the BoE’s policy remit in the Budget yesterday reinforced its shift to more flexible inflation targeting with more explicit forward guidance under new Governor Carney more likely than a more aggressive shift to a nominal GDP target”, assessed Currency Analyst Lee Hardman at BTMU.

As of writing GBP/USD is up 0.48% at 1.5175 and a surpass of 1.5223 (high Feb.28) would bring 1.5277 (Upper Bollinger) and then 1.5330
On the downside, support levels are located at 1.5090 (hourly low Mar.21) ahead of 1.5083 (MA21d) and then 1.5034 (MA10d).

Forex Flash: Equities remain positive during active periods – Goldman Sachs

In thinking about how best to position for macro trends, we have placed a lot of weight on gauging the state of the macro cycle and trying to understand how different states translate into different asset market outcomes. According to the Economics Research Team at Goldman Sachs, “We focus in particular on the parts of the month when ‘key data’ are released, that is, on ‘active’ periods rather than ‘lull’ periods when there is no meaningful mass of new economic information.”
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Forex: USD/CHF eases to 0.9460/62

The USD/CHF has been operating sporadically throughout the day Thursday after earlier news on the Cypriot ultimatum via the ECB sent shockwaves through currency markets. With the EUR and prospects in the Eurozone under siege, this led the pair to rise steadfastly during European and American trading. However, in recent moments, the cross has descended 15 pips to trade at 0.9460/62 presently. Despite this easing however, the pair remains in positive territory, up +0.17% from its opening.
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