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USD firmer ahead of Yellen''s testimony

15/07/2014 | OzForex

United States Dollar: GBP/USD slipped below 1.71 yesterday, this level having previously acted as a good support level. Stop loss orders were triggered on its way down to a low of 1.7070. Bids in EUR/GBP weighed on cable too whilst the UK government’s cabinet re-shuffle ...
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GBP/USD remains supported at 1.71 as a busy week shapes up

14/07/2014 | OzForex

United States Dollar: GBP/USD continues to find support at 1.71. UK construction data on Friday printed weaker than expected and saw cable fall from 1.7147 to a low of 1.71. Output declined 1.1% from April to May and it dragged on the pound. All in all it was a very quiet week ...
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Euro drops as Portuguese banking worries deepen

11/07/2014 | OzForex

United States Dollar: As widely expected the Bank of England left interest rates and QE unchanged yesterday – the pound was unmoved following the announcement. The currency had already lost a bit of ground in the run up to the rate announcement after UK trade data printed ...
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Pound recovers after shock manufacturing data

09/07/2014 | OzForex

United States Dollar: Sterling slipped across the board yesterday as the latest Manufacturing Production figure undershot expectations by some distance. With the sector to expand by 0.4% compared to April the release showed an unexpected fall of -1.3%. The corresponding ...
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Markets Calm as Traders Look to FOMC Minutes

08/07/2014 | OzForex

United States Dollar: Yesterday was a quiet day on the FX markets in the absence of any top tier data releases. Cable dropped through the day on profit taking as investors speculated that sterling was over-bought. GBP/USD started the London session at 1.7145 and dropped to a low ...
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Quiet Start to Week as Markets Look to Wednesdays FOMC Minutes

07/07/2014 | OzForex

United States Dollar: Friday was relatively quiet in the financial markets with most Americans enjoying a long weekend due to the 4th July bank holiday. Thursday had seen a raft of positive data from the States with the monthly Non-Farms printing 288k for June and the ...
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EUR/USD Drops as NFP Beats Forecast

04/07/2014 | OzForex

United States Dollar: Yesterday morning saw the monthly services PMI reading from the UK slightly undershoot expectations coming out at 57.7. A reading above 58 had been forecast and although it was the lowest figure in three months it was still well in expansion territory. The ...
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Markets await Non-Farms and ECB Rate Decision

03/07/2014 | OzForex

United States Dollar: Sterling had another good 24 hours with yesterday’s monthly Construction PMI smashing forecasts printing 62.6 for June. This was much higher than the forecast of 59.7 and showed that employment growth in the industry was at its strongest since the ...
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Pound Surges After UK Construction PMI Beats Forecast

02/07/2014 | OzForex

United States Dollar: Sterling benefitted from yet more good data yesterday as the monthly Manufacturing PMI beat forecast. The report printed 57.5 (exp 56.7) up from 57 last month to reach its second highest reading in 40 months (the highest was last Novembers 57.8). The report ...
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GBP hits 6 year highs versus USD

01/07/2014 | OzForex

United States Dollar: GBP/USD continued its impressive run during Yesterday’s session following the news that both Net lending to individuals and Mortgage approvals rose in May. Opening around the 1.7020 level the pair gained nearly a cent to post 6 year highs of 1.7114. ...
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