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Gbp/Usd has just about retraced move from Nov. 23-24 (high 1.6647- low 1.6496). A trendline of prior hourly highs lies at 1.6634. This seems to be acting as a point of resistance, but likely will trade above. If the pair turns to downside , 1.6589 should be good support. there we have the 61.8% Fibo and 100 hour M/A.

The USD is trading at a new 15 month low as the FOMC signals that interest rates will remain at low levels for extended period, the November policy minutes state that USD depreciation is orderly, equity markets rally and gold trades at a new record high, USD was also pressured…

Unlike yesterday where the third quarter estimate growth rate of 3.5% was revised down to 2.8% for the world’s largest economy, today the personal income and spending is expected to climb to the upside along with a slight improvement of the country’s confidence and better news from the housing sector,…

Although the release of the FOMC November meeting minutes weakened the dollar somewhat on Tuesday it was not until a new day was dawning in Asia that investors scrutinized the Fed’s assessment and concluded that a ?disorderly? decline in the dollar might have further to run. As the American session…

Cable rose further on global dollar-bearishness. A further rise towards 1.6850-90 may be seen in a couple of days. Intra-day correction is likely to be contained near 1.6650. There are chances that the rise being seen over the last 3-4 days would be sustained and would propel the pair towards…

Despite the Federal Reserve rhetoric on the potential inflation risks and dollar weakness there will be expectations that the Fed will maintain interest rates at very low levels over the next few months which will undermine sentiment. There will also be expectations of medium-term diversification away from the US currency….

With a reversal off its intra day low at 1.4887 pushing EUR to a marginal close on Tuesday, threats of further upside move towards the 1.5014 level, its Nov 16’09 high and beyond continue to shape up which it was testing at the time of this analysis.

Although GBP is now strengthening on the back of its Tuesday intra day recovery, we would like to see the pair break back above its invalidated ST rising trendline and target the 1.6875 level. This development if seen should create scope for a move higher towards its YTD high standing…

The developed and the emerging markets both moved higher in European Wednesday trade, posting gains of around 0.50%. Since the beginning of the trading session, Italy’s MIB has added 0.60%, while the Swiss Stock market advanced 0.45%. In emerging Europe, Poland and the Czech Republic gained 0.45% and 0.30% respectively….