larrygreenberg @ July 5, 2012 # Comments Off
June purchasing manager survey results reflect a dramatic narrowing of the U.S. economy’s advantage over Euroland. The factory PMI spread fell 2.0 points to a 6-month low of 5.0, while the non-manufacturing PMI differential dropped 3.8 poin…
ForexBlogger @ July 5, 2012 # Comments Off
EUR/USD was gradually declining today ahead of the monetary policy meeting of the European Central Bank. The currency pair sharply slumped after the ECB announced that the main interest rate was cut by 25 basis p…
larrygreenberg @ July 5, 2012 # Comments Off
As expected, the ECB reduced interest rates today. Not only were the refinancing rate and marginal lending rate cut respectively to a new record lows of 0.75% from 1.0% and 1.5% from 1.75%, but the Governing Council also took the once distained s…
larrygreenberg @ July 5, 2012 # Comments Off
The People’s Bank of China cut its one-year lending rate to 6.0% from 6.31% and its one-year deposit rate to 3.0% from 3.25%. This is a follow-up easing to respective cuts of 25 basis points to each of those rates implemented on June 7, as …
larrygreenberg @ July 5, 2012 # Comments Off
Between March 2010 and May 2011, four 25-basis point increases of Bank Malaysia Negara’s overnight target rate were implemented, but no further policy changes have been undertaken in the ensuing seven meetings of the Monetary Policy Committee.…
larrygreenberg @ July 5, 2012 # Comments Off
The Bank of England’s Asset Purchase Program has been increased by another GBP 50 billion. The new ceiling becomes GBP 375 billion. The previous increase in the program’s size was announced in February. However, whereas th…
larrygreenberg @ July 5, 2012 # Comments Off
Investors have high expectations that the ECB will cut interest rates and that the Bank of England will also ease policy. Scheduled U.S. data today include the ADP estimate of private sector jobs, the Labor Department weekly report of jobless insurance…
ForexCycle.com @ July 5, 2012 # Comments Off
USDCHF Analysis. USDCHF is forming a sideways consolidation in a range between 0.9421 and 0.9769. Lengthier consolidation in the range would likely be seen over the next several days. Key support is at 0.9463, a breakdown below this level will signal c…