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| STERLING PLUNGES AGAINST ALL 16 OF ITS COUNTERPARTS |
| The Safe heaven currencies - the US Dollar, Japanese Yen and Swiss franc, were among the best performing currencies last week as risk aversion dominated market sentiment. While Data in the US has been softening in recent months, economic data from emerging Asia has continued to be strong, second quarter GDP for most Asian regions beat expectations and other data has mostly been strong.
As Expected the Pound has continued its pullback against the safe heaven Dollar and the view taken is this has scope to continue as the Pound ... Forex Rate - Forex and Exchange rates |
| Interest rates remain low as economic concerns persist |
| National average mortgage rates remain historically low and there appears to be no end in sight to the Fed’s low to no interest rate policy. A less than stellar Commerce Department report on the second quarter gross domestic product Friday (August 27) morning is the latest contributor to the sense of pessimism hanging over the US economy.
The revised GDP report showed growth of just 1.6 per cent for the US in the second quarter. A higher volume of imports and slow inventory build up were targeted as reasons for the ... Forex Rate - Forex and Exchange rates |
| SWINGS IN RISK SENTIMENT DICTATE FOREX MARKET MOVEMENT |
| Improved risk sentiment over the last 24 hours has helped support the Pound and push the currency higher against both the euro and the dollar as the Pound trades up from its confined ranges only a week ago. This week has seen little activity on the UK domestic front, leaving sterling vulnerable to swings in risk sentiment and the trend in cross trades. Today, though, does see the CBI’s distributive trades survey and markets will be looking to see if this indicates a continuation of the recent firm trend in ... Forex Rate - Forex and Exchange rates |
| Gold moves closer to record |
| Gold prices moved closer to its all-time high on Wednesday (August 25) despite relative firmness in the dollar. One ounce of gold currently fetches $1,238 in early evening New York Globex trade.
Gold closed Tuesday at $1,230.40 after a Monday close of $1,225.90. At one point in early morning New York NYMEX trade Tuesday, gold traded as low as $1,210.
The current market for aggressive gold traders is the record high of $1,261 that was reached in late June. A break of this level would likely produce a run up toward $1,300, ... Forex Rate - Forex and Exchange rates |
