From Our Foreign Exchange Blog

Latest:

POUND STERLING / AUSTRALIAN DOLLAR EXCHANGE RATE: (GBP-AUD) CONTINUES TO BE SOLD-OFF

POUND / US DOLLAR EXCHANGE RATE: GBP-USD STARTS TO EDGE HIGHER, IS MARCH SLUMP OVER?

POUND EURO EXCHANGE RATE: GPB-EUR MOVES ABOVE 1.2 AGAIN

POUND RATE TODAY (GBP): BRITISH POUND EXCHANGE RATE COMPLEX FINDS A LITTLE LOVE

DOLLAR RATE TODAY: USD EXCHANGE RATES COME UNDER EARLY PRESSURE ON WEDNESDAY

EURO RATES TODAY: EURO EXCHANGE RATE COMPLEX REMAINS UNDER SELLING PRESSURE

Monday:

EXCHANGE RATES TODAY: BRITISH POUND (GBP) IN INFLATION DATA BOOST, UP VS USD, EUR

POUND STERLING (GBP) VS AUS DOLLAR EXCHANGE RATE IN FRESH LOSSES ON TUESDAY

EURO EXCHANGE RATE TODAY: EUR UP VS GBP BUT DOWN VS USD AND AUD AS GERMAN IFO DISAPPOINTS

CANADIAN DOLLAR / POUND STERLING EXCHANGE RATE: CAD REMAINS RESILIENT TO GBP ADVANCES

POUND TO EURO SLUMPS TOWARDS 1.19, GERMAN IFO DATA + POSITIVE DATA SURPRISE FROM FRANCE HELPS

Friday:

Euro forecast for next week: EUR-USD to find support and trade in resilient fashion

US dollar forecast for next week, Downside bias may emerge for EUR-USD

Pound exchange rate forecast next week: British Pound in oversold territory

Canadian Dollar Rallies, Recovers from a Four and a Half-Year Low Against the US Dollar

Why is the Australian dollar so strong today? Pound to Aus Dollar Sinks on Friday

The Pound to Euro Exchange Rate is Lower on Friday: Why?

Pound to Dollar exchange rate: GBP-USD should remain under pressure as traders favour the greenback

Pound Sterling vs Canadian Dollar (GBP to CAD): Key Figures Due Out of Canada Today

Thursday:

Euro Pound Exchange Rate Slumps as Sterling Tracks US Dollar Higher

EURO EXCHANGE RATE TODAY: EUR/USD FALLS YET FURTHER AS MARKETS TURN SENSITIVE TO US DATA

CANADIAN DOLLAR TO USD TODAY: UNCERTAIN INVESTORS NOT YET READY TO SELL CAD

Where to for the gold price? The decade-long bull phase could give way to a major correction

Questions continue to be raised as to whether we are witnessing the end of the decade-long rally in the precious meta's price.

"Gold has been in an extraordinary bull phase over the past decade or so with the price accelerating in its ascent from late-2008 to mid-2011. However, this key precious metal has lost some of its lustre in recent times and now is on the brink of a major correction," notes David Morrison at GFT.

Morrison who approaches his analysts from a technical perspective notes that the gold price has broken through the lower trendline channel (on the weekly chart) which is quite a significant move.

"Yesterday, the selling came to a halt as short-side speculators rushed to cover their positions. Support was provided by the 78.6% Fibonacci retracement of the rally from December to February ($1580). This may prove to be only a short term obstacle, should the euro and equities retreat further forcing  leveraged gold buyers to liquidate their positions to raise cash. There is strong resistance at $1625, while a more established area of support is seen around $1520/35," says Morrison.

Elsewhere in the commodity space, both Brent and WTI crude are hovering around their respective 200-day moving averages, with WTI a touch above, and Brent a fraction below.

Data from China yesterday showed that growth in both exports and imports slowed sharply compared with this time last year.

The news raised concerns that estimates for Chinese growth in 2012 may be revised down further from the official expectation of 7.5%.



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