Today is Wed, May 22, 2013 18:14:32 GMT
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bernanke

Dollar Waits For Ben As Cable Continues to Crash

Market Drivers May 22, 2013 BOJ would decide on further JGB purchases sends USD/JPY towards 103.00 UK Retail Sales worst since April 2012 Cable below 1.5100 Nikkei 1.60% Europe 0.06% Oil $95.81 Gold $1381/oz. Europe and Asia: AUD Westpac Consumer Confidence -7.0% vs. =5.1% JPY Merchandise Trade Balance Yen -.76T vs. -.63T JPY BOJ Monetary [...]

Top Trade Ideas

Trade of the Day for May 22nd, 2013 – Long EUR/GBP

EUR/GBP breaks out of consolidation, more upside expected The Bank of England minutes from the May meeting released this morning was largely as expected and showed that Governor King was once again outvoted. The soon-departing Governor voted in favor of a £25B expansion of quantitative easing (QE) along with MPC members Miles and Fisher. However, [...]

Featured Chart

Chart of the Day for May 22nd, 2013 – GBPUSD

By Ilya Spivak

Prices declined as expected after putting in a Shooting Star candlestick below resistance at the top of a rising channel set from mid-March. Sellers are now pushing to support at 1.5029, the 38.2% Fibonacci expansion, with a break below that targeting the 50% level at 1.4850. We continue to hold short, Near-term resistance is at 1.5322, the May 16 high, followed by the channel bottom at 1.5440.

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Global Market Commentary

bernanke

Bernanke Green Lights Dollar Rally

There you go folks – Fed Chairman Ben Bernanke confirmed this morning that the central bank could reduce its pace of asset purchases “in the next few meetings.” It took a while for Bernanke to make his point and the dollar endured a rollercoaster ride as a result but the takeaway from his speech is [...]

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