UK GDP Lifts The British Pound!

23 August, 2013

The European session was relatively quiet as would be expected on a Friday. Sterling however took the spotlight today, experience some volatility on the release of some upbeat U.K. growth data.

The U.K. GDP for the second quarter as marked up to 0.7 percent, which was higher than the preliminary estimate of 0.6 percent.

GBPUSD jumped to a session high of $1.5636 on the data while EURGBP dipped to 0.8540.

However, the sterling rally was not sustained and it reversed direction by the end of the session. GBPUSD fell down to $1.5546 and EURGBP rose to 0.8588.

Euro is flat against the dollar, remaining within a range after a relatively quiet Asian and European session. The release of final second quarter German GDP was generally in line with estimates. 

EURUSD traded between $1.3340 and $1.3370, entering the U.S. session while in the higher end of the range.

Yen is broadly weaker today  and news flows was limited today. But the upcoming Jackson Hole meeting where BOJ governor Kuroda will speak, will be in focus. Any comments on more QE will hurt yen.

USDJPY was the focal point in Asia, climbing 45 pips to break just above the key 99.00 yen level. In Europe the pair hit as high as 99.14 yen, the highest in three weeks.

EURJPY opened in Europe at 131.98 and rose to a high of 132.42 yen.

In the upcoming U.S. session we have U.S. new home sales data.

Source link  
Aussie declines despite shrinking Australian trade deficit

The Asian session was calm as the economic calendar was light and most investors were positioning ahead of key risk events later this week, primarily the US nonfarm payrolls report on Friday...

USD/JPY slips as Nikkei falls in risk-off market after disappointing China PMI data

The first full trading week of 2014 began today, with Japan opening for the first time after a two-week holiday...

Technical Analysis On Major Currencies By FXNET

The pair extended the positive trading, whereas it approached 61.8% correction at 1.3625

Euro Hits Fresh 1-Month High After German Inflation Data

The dollar rose above 102.00 yen for the first time since May 29, while the euro flirted with the key $1.36 handle and hit a new four-year high within striking distance of 139.00 yen...

Aussie Powers Through & Dollar Hits New 6-Month High Against Yen

The best performing currency during Thursday’s Asian session was the Australian dollar which jumped against its US counterpart after strong Australian business spending data. Private Capital Expenditure increased by 3.6% quarter-on-quarter despite expectations for a decline by 1.1%...

Sterling and Euro Outperform Vs US Dollar

The main currency of the day was the sterling which outperformed against the dollar and euro, as well as against the yen after being boosted by strong UK second quarter growth data...

Euro Steady Around $1.35

The euro was stronger today particularly against the dollar and the pound. While there were no economic data releases today from the Eurozone to explain the move, there were some headline news which affected sterling and dollar...

Yen Up Against Dollar After Weak US Data

The yen was supported by safe haven demand today after the release of a slightly dovish Bank of Japan policy meeting minutes. The minute from last weeks meeting showed some concern about Japans economic outlook and whether the central bank 2% inflation target could be met...

EUR/JPY Hits A New 4-Year High

The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in todays Asian session...

In the past 24 hours Bitcoin has gained 6.63% and reached $3754.39442294. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.0395% and is now at $1.1371. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 13.56% and is now at $102.308240636. Have the most popular cryptocurrencies compared online 24/7.

Top Brokers offering Forex Market Analysis

Forex Currencies Forecasts

Top 10 Forex Brokers 2018

# Broker Review
6FIBO GroupFIBO Group84%