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Construction Sector Slowdown Weighs On Pound Sterling

Pound sterling gains were halted in the overnight following the release of the Markit/CIPS UK construction PMI survey.  Although still relatively positive, survey results were worse than had been...

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Forex: EURUSD Finding Support Above 1.2200

EURUSD Two double hammer candlestick formations are reinforcing the idea of a potential bounce by EURUSD.  The notion is being supported by a widely oversold stochastic indication at 7.5 in the daily...

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Don’t Expect QE3 Signals When Bernanke Testifies

Starting tomorrow, Fed Chairman Ben Bernanke is set to testify before the United States Congress in his semi annual report on the economy and monetary policy. Although speculation is rising that the...

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Forex: Bank of Canada Stays Put On Rates

Canada’s central bank painted a dour picture for the world’s 11th largest economy following a decision to keep rates on hold at 1% – as well as corresponding deposit rates.  The move wasn’t all too...

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German Court Stay Isn’t The End of the Euro

In the beginning of the week, it was announced that the German Federal Constitutional Court, a German version of the US Supreme Court, was delaying its ruling on the legality of the ESM until mid...

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RBNZ Dominates NZDUSD Week

Very little economic data is slated for the New Zealand dollar this week, especially when compared to the offsetting amount of US based events on the docket.  And, the dearth of data could lead to a...

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Will UK Growth Sink GBPUSD?

Failing to overtake the 1.5700 technical barrier, the GBPUSD has fallen ahead of key economic events scheduled for the next five sessions.  Namely, market participants are targeting the preliminary...

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South Korean Inflation Likely To Boost Bank Cuts

With Statistics Korea showing price inflation in the South Korean economy declining to the slowest pace in more than a decade, it all but confirms that the Bank of Korea’s next move will be a rate cut....

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ECB’s Draghi Decision A Dud?

Amid a ton of speculation, European Central Bank President Mario Draghi failed to deliver decisive action to the market.  There was no announcement of massive bond purchases or a change to the region’s...

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Germany Won’t Let ECB Yield Cap Pass

The euro traded slightly higher against the US dollar as a result of speculation surrounding a Der Spiegel article that surfaced during the session.  According to the infamous German magazine, European...

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