GBP/USD Edges Higher as British Producer Prices Surprise With
British PPI Input rose by 0.4%. Early expectations stood on a modest gain of 0.1%. GBP/USD is now ticking up, but is still capped by resistance. Pound/dollar is now at …
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Trichet Leaves Room for Hikes and Aids Portugal – Euro
Jean-Claude Trichet takes note at the slowdown in Europe, but leaves room for rate hikes. He says that further moves are warranted, depending on developments. The words “monitor very closely†…
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ADP Shows Big Job Gain – Dollar Rises
The private sector report by ADP has shown a big gain in jobs: 157K. This is far better than 67K that was expected. The dollar gains across the board, especially …
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ECB Raises the Rates – EUR/USD Stays Low
As expected, Jean-Claude Trichet delivered on his intention to raise the interest rates in the Euro-zone. The European Minimum Bid Rate was raised to 1.50%. EUR/USD stay just above support, …
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GBP/USD Lower As Rates Unchanged
As expected, the British MPC left the interest rates unchanged at 0.50%, and the quantitative easing program at 200 billion pounds. GBP/USD is ticking down in range, hardly moving. These …
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British Manufacturing Bounces Back – GBP/USD Unimpressed
After many disappointing months, the British manufacturing production made a significant comeback – a rise of 1.8%. This beats high expectations for a rise of 1.1%, but GBP/USD hardly moves. …
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US Services PMI Posts Weak Growth – Triggers Risk Averse
ISM Non Manufacturing PMI dropped to 53.3 points, lower than 53.9 that was expected. The initial reaction of the dollar is a small rise against the vulnerable euro and a …
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GBP/USD Rises On Stronger Services PMI
Britain’s services sector has stabilized: the PMI for this sector ticked up to 53.9 points. A result of 53.6 was expected. GBP/USD rises within range. Pound/dollar is now at 1.6060, …
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UK Construction PMI Drops As Expected – GBP/USD Holds On
The British construction sector didn’t disappoint for a second month in a row. Construction PMI came out exactly as expected: 53.6 points, a slide from last month’s 54 points. GBP/USD …
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US Manufacturing Enjoys Strong Growth – EUR/USD Below Support
A great result of 55.3 points was recorded in the US Manufacturing PMI. This exceeds expectations for a drop to from 53.5 to 51.9 and shows that a rebound in …
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