Pedro Orta
U.S. Dollar – Lower after data
by: Pedro Orta The dollar initially traded lower against the euro and the Japanese Yen after Thursday’s U.S. data release. At the time of this article, the dollar is trading at 1.2796 vs the euro and 94.25 vs the yen.
Concerns over a Cyprus deal weighs heavily on the Euro
by Pedro Orta The euro continued yesterday’s decline to hit a 4-month low against the dollar during the early New York trading session on Wednesday. The pair has traded lower by 0.72% to hit a low at 1.2761 on concerns that a Cyprus deal could hold private investors responsible for future euro zone bailouts. The [...]
Talking Technical – GBPUSD
by Pedro Orta After reaching a two and a half year low, the pound has been trading in a range between 1.5070 and 1.5220. Initial resistance and support levels are seen at 1.5240 and 1.5050 respectively.
EURUSD Loses Momentum as the ECB Meeting Gets Closer
by Pedro Orta Since July last year the euro has been on a rallying trend against the dollar; from a low of 1.2050 to a recent high of 1.3712. Despite the recent rally, I believe the euro will continue to outperform the dollar in 2013 – partly because we are starting to see banks repay [...]
U.S. Dollar – New 2.5 Year Highs vs the Yen
by Pedro Orta The U.S. dollar hit a new high against the Japanese Yen. The dollar has not been this strong against the Yen in over 2 years. The U.S. dollar has been on a steady rise against the Japanese Yen since last September, increasing 18.10% in just four months. The pair went from 77.41 [...]
EURUSD – Setting up for next rally?
The euro regained its losses against the dollar and is setting up for the next move. The pair is now trading at 1.3390. The next resistance is at 1.3470 and support is at 1.3250. A move above the 1.3400 level opens the way for the 1.3550 target.
Gold – Early Warning Signs
Gold is trading in a tight range after reaching a session high of $1,685. Resistance is seen at this level around $1,690. The 65 and 100 daily moving averages meet around $1,690.
GBPUSD Loses ground as the EURGBP Continues to Rally
The pound lost ground against the dollar as the currency was sold off against the euro. GBPUSD reached a session high of 1.6155 during the Tokyo session last night. After reaching the session high, the pair began to drift lower, eventually making a low at 1.6030 during the New York session. The pound was affected [...]
GBPUSD – Trading near resistance at 1.6130
The BoE has left rates unchanged at 0.5%. The MPC stated that interest rates are staying at 0.5 percent and that they will not purchase any more government bonds in excess of the 375 billion pounds they have already purchased. The announcement initially drove the pound higher against the dollar to around 1.6070 and eventually [...]
EURUSD Rallies 1% to 1.3205
The euro rallied to a high of 1.3205 against the dollar when the ECB announced it will leave rates unchanged at 0.75 percent. Also impacting the move were comments by Mario Draghi saying “Later in 2013, economic activity should recover”. The euro blew past the 1.3150 resistance vs the dollar. This move opens the way [...]
Top News
- BOJ keeps policy on hold; Kiuchi proposes looser price target timeframe May 22, 2013TOKYO (Reuters) - The Bank of Japan on Wednesday decided to keep monetary policy on hold, but one board member tried unsuccessfully to loosen the central bank's commitment to achieving its 2 percent inflation target within two years. In a unanimous vote, the BOJ maintained its pledge to increase base money, or cash and deposits at the central bank, at a […]
- Asia stocks rise as Fed official backs easy policy May 22, 2013BANGKOK (AP) — Asian stock markets were mostly higher Wednesday after investor confidence was boosted by a Federal Reserve official's comments that the U.S. central bank should stick with its super-easy monetary policy. […]
- Senate panel approves immigration bill May 22, 2013WASHINGTON (AP) — Far-reaching legislation that grants a chance at citizenship to millions of immigrants living illegally in the United States cleared the Senate Judiciary Committee on a solid bipartisan vote Tuesday night after supporters somberly sidestepped a controversy over the rights of gay spouses. […]
- Merck signs $5 billion share buyback agreement with Goldman Sachs May 22, 2013(Reuters) - Merck & Co Inc said it has entered into a $5 billion share repurchase agreement with Goldman Sachs Group Inc, as the drug giant looks to prop up shareholder value in face of stiff competition from makers of less-costly generics. Under the accelerated share repurchase agreement (ASR), Merck has agreed to repurchase about 99.5 million shares fr […]
- The Irish loophole behind Apple's low tax bill May 22, 2013By Tom Bergin LONDON (Reuters) - Apple's ability to shelter billions of dollars of income from tax has depended on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs. A U.S. Senate investigation revealed Tuesday that Apple, maker of iPhones, iPads and Mac computers, channeled profits int […]