Month: March 2016

The GBP/USD ended the week at 1.4126 falling 2.45% this week on the stronger US dollar and increased worries over the possibility of an exit from the Eurozone after terrorism in Brussels heated up the debate.  Sterling Pound has already dropped at least 2 percent versus all of its Group-of-10 counterparts this year, and options prices suggest it will fall further against every one over the next three months. That would see the U.K. currency’s losses extend beyond June 23, when the public will vote on the nation’s membership of…

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The NZD/USD will enter the new week on Tuesday at 0.6691 falling steadily after touching a 2016 high just a week before. The strength of the US dollar weighed heavily on the commodity currencies as well as commodities. The kiwi is trading at 0.691. New Zealand’s trade surplus expanded from a revised $13 million in January to $339 million last month, beating the $57 million surplus forecast by markets. Pair breaks key support level at $0.6750 marks and trading around $0.6695 levels. Short term bias remains bearish for the moment….

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On Thursday, before 9:30 am, the trend of GBP/USD pair had been a well established bearish trend. And then at 9:30 the data from UK about the retail sales of February was released. Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity. The strength of this data was a clear signal for the markets to immediately respond in favour of GBP. The pair shot up in…

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