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The USD is trading mixed to slightly firmer as optimism about a Greek debt rescue plan fades and China reports a smaller than expected trade surplus, the trade awaits a possible statement from the EU summit on Greece later today, GBP trades lower as the BOE lowers its inflation and…

Protectionism is rising because demand from the big three (US, Europe, and Japan) is still not there. A true story despite all the public debt governments are throwing into the market (this gets into the ?let the market clear itself? argument, one which will never be tested in a world…

Sterling was weighed down by dovish BoE inflation report and comments from Governor Mervyn King and pared earlier gains. BoE King said that “although the MPC last week announced a pause in its program of asset purchases, it is far too soon to conclude that no more purchases will be…

GBP/USD falls sharply today after recovery was limited at 1.5763. The development argues that recovery from 1.5534 is possibly finished. Intraday bias is cautiously on the downside for the moment. Break of 1.5534 will confirm fall resumption for 100% projection of 1.6875 to 1.5829 from 1.6456 at 1.5410 next. On…

At the February Inflation Report, the BOE unveiled downside risks to economic recovery. The MPC members believed that growth in the United Kingdom has been and will continue to be driven by the considerable stimulus from the easing in monetary policy, global growth and depreciation of sterling. However, spare capacity…

Markets were very busy yesterday pricing in speculation and conjecture. The day started with rumors that ECB?s Trichet had left a meeting of central bankers prematurely to head to Brussels to address the Greek situation. Then, later in the day, a German official was cited in say that the Eurozone…

The Cable rose towards 1.5764 intially ahead of the Manufacturing and Industrial Production numbers and has fallen thereafter despite better than expected numbers. The Resistance at 1.5770 mentioned in the morning held. There’s immediate Support at 1.5630 and thereafter near 1.5585 which should not give up easily. Till 1.5585 holds,…

* Times listed are GMT

The daily chart wave count on aussie is showing a bear market that has been in process since our red wave V completed with a truncated form, after the wave III top at 0.9403 held. Prices recently fell through the major support level at 0.8733, which has confirmed that a…

The market wants to hear detail on whether or what Germany may offer Greece in terms of support. EUR/USD has traded with a modest upside bias in European hours on hope that Greece?s problems are closer to a resolution and after solid Chinese trade data lifted risk appetite in Asia….